Great Lakes Dredge & Dock (GLDD) Earnings Call Presentation

Financial Performance - Great Lakes Dredge & Dock Corporation (GLDD) reported Q1 2025 revenue of $243 million[14], a $44.2 million increase compared to Q1 2024[80] - Adjusted EBITDA from continuing operations was $60.1 million for Q1 2025[78], a $17.2 million increase from Q1 2024[78] - The company's dredging backlog ended Q1 2025 at $1 billion[14], with 95% from capital and coastal protection projects[15] - The company has liquidity of over $300 million and announced a $50 million stock repurchase program in March 2025[87] Market and Operations - The company's dredging bid market share represents 27% of a $2375 million market average over the prior three years (2022-2024)[24, 32] - The U S Army Corps of Engineers' budget for 2024 was approved for $8.7 billion, leading to a $2.9 billion U S dredging bid market[33] - The company received notice to proceed in Q2 2025 for dredging work on the Woodside Louisiana LNG project[15] - The company is expanding its core business into the offshore energy industry[22] Fleet and Sustainability - The company is committed to fleet improvement, including new hopper dredges and support equipment[46] - The company is building the first Jones Act compliant, subsea rock installation vessel - Acadia, expected delivery in 2026[46] - The company achieved zero recordable incidents in Q1 2025[64]