Great Lakes Dredge & Dock (GLDD) Beats Q1 Earnings and Revenue Estimates

Company Performance - Great Lakes Dredge & Dock (GLDD) reported quarterly earnings of $0.49 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and up from $0.31 per share a year ago [1][2] - The earnings surprise for this quarter was 96%, following a previous surprise of 38.10% when earnings were $0.29 per share against an expectation of $0.21 [2] - The company achieved revenues of $242.87 million for the quarter, surpassing the Zacks Consensus Estimate by 15.71%, compared to $198.66 million in the same quarter last year [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $168.6 million, and for the current fiscal year, it is $0.69 on revenues of $775.45 million [8] - The estimate revisions trend for Great Lakes Dredge & Dock is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - Great Lakes Dredge & Dock operates within the Zacks Building Products - Heavy Construction industry, which is currently ranked in the top 5% of over 250 Zacks industries [9] - The industry has shown strong performance, with the top 50% of Zacks-ranked industries outperforming the bottom 50% by a factor of more than 2 to 1 [9]