GLDD Earnings Prediction
The chart below shows how GLDD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GLDD sees a +0.06% change in stock price 10 days leading up to the earnings, and a -0.83% change 10 days following the report. On the earnings day itself, the stock moves by +3.07%. This data can give you a slight idea of what to expect for the next quarter's release.
GLDD Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
191.17M
63.14%
12.40%
Gross Margin
18.95%
145.78%
8.04%
Operating Margin
8.59%
295.23%
6.84%
Net Margin
4.63%
188.19%
2.66%
EPS
0.13
244.44%
18.18%
No Data Available
GLDD Earnings Analysis
Great Lakes Dredge & Dock Corporation Corporation (GLDD.O) Earnings Conference Call
Positive
Record Backlog Achievement: 1. Record Backlog: Great Lakes achieved a record backlog of $1.2 billion by the end of Q3 2024, providing strong revenue visibility well into 2026.
New Contract Acquisitions: 2. Significant New Contracts: The company secured $543 million in new contracts during the quarter, including major projects that captured 79% of the coastal protection market and 81% of the capital project bid market.
Q3 Revenue Surge: 3. Strong Revenue Growth: Revenues for Q3 2024 reached $191.2 million, an increase of $74 million compared to the same quarter last year, driven by active projects and higher capital and coastal protection revenues.
Profitability Improvement: 4. Improved Profitability: Adjusted EBITDA for the quarter was $27 million, reflecting a significant increase from $5.3 million in the prior year, with an adjusted EBITDA margin of 14.1%.
Credit Rating Upgrade: 5. Upgraded Credit Rating: S&P upgraded Great Lakes' corporate credit rating to B- from CCC+, highlighting improvements in the company's balance sheet and overall performance.
Negative
G&A Expense Increase: 1. Increased G&A Expenses: General and administrative expenses rose to $19.8 million, a $5.6 million increase from the same quarter last year, primarily due to higher incentive pay.
Net Interest Expense Increase: 2. Rising Net Interest Expense: Net interest expense increased to $4.9 million in Q3 2024, up from $2.8 million in Q3 2023, reflecting costs associated with the term loan.
Increased Tax Expense: 3. Higher Tax Expense: The net income tax expense for Q3 2024 was $3.2 million, an increase of $5 million compared to the same quarter of 2023, driven by higher current quarter income.
Cash Position Concerns: 4. Low Cash Reserves: The company ended the quarter with only $12 million in cash, indicating a potentially weak cash position relative to operational needs.
Dry Docking Cost Impact: 5. Expedited Dry Docking Costs: The expedited dry docking of a dredge incurred costs of approximately $2 million to $2.5 million, impacting overall margins for the quarter.
GLDD FAQs
How does GLDD typically perform around its earnings report dates?
Is Great Lakes Dredge & Dock Corporation (GLDD) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
GLDD Earning Call Sentiment
Great Lakes Dredge & Dock Corporation (GLDD) Q3 2024 Earnings Call Transcript
GLDD.O
-6.24%Positive
The earnings call summary shows strong financial performance with increased revenues, net income, and gross profit margins. The backlog and future revenue growth potential, particularly in offshore wind, are promising. However, there are supply chain and competitive pressures, but the overall sentiment remains positive. The Q&A section revealed a strong bid market and increased gross margins expected. Despite some uncertainties in project timelines, the company's financial health and strategic positioning suggest a positive stock price movement over the next two weeks.
