Great Lakes Dredge & Dock (GLDD) Beats Q2 Earnings and Revenue Estimates

Company Performance - Great Lakes Dredge & Dock (GLDD) reported quarterly earnings of $0.14 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and up from $0.11 per share a year ago, adjusted for non-recurring items [1] - The earnings surprise for the quarter was +75.00%, and the company has surpassed consensus EPS estimates three times over the last four quarters [2] - The company posted revenues of $193.76 million for the quarter, surpassing the Zacks Consensus Estimate by 11.14%, compared to $170.09 million in the same quarter last year [3] Market Comparison - Great Lakes Dredge & Dock shares have declined approximately 5.9% since the beginning of the year, while the S&P 500 has gained 7.6% [4] - The current consensus EPS estimate for the upcoming quarter is $0.15 on revenues of $194.27 million, and for the current fiscal year, it is $0.96 on revenues of $816.02 million [8] Industry Outlook - The Building Products - Heavy Construction industry, to which Great Lakes Dredge & Dock belongs, is currently in the top 5% of over 250 Zacks industries, indicating a favorable outlook [9] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [6]