Great Lakes Dredge & Dock (NASDAQ:GLDD) Delivers Strong Q1 Numbers, Stock Jumps 13.5%
Dredging and coastal protection company Great Lakes Dredge & Dock (NASDAQ:GLDD) beat Wall Street's revenue expectations in Q1 CY2025, with sales up 22.3% year on year to $242.9 million. Its GAAP profit of $0.49 per share was 86.7% above analysts' consensus estimates.
Is now the time to buy Great Lakes Dredge & Dock? Find out in our full research report.
Great Lakes Dredge & Dock (GLDD) Q1 CY2025 Highlights:
Revenue: $242.9 million vs analyst estimates of $206.7 million (22.3% year-on-year growth, 17.5% beat)
EPS (GAAP): $0.49 vs analyst estimates of $0.26 (86.7% beat)
Adjusted EBITDA: $60.11 million vs analyst estimates of $40.15 million (24.7% margin, 49.7% beat)
Operating Margin: 20.6%, up from 15.8% in the same quarter last year
Backlog: $1.01 billion at quarter end
Market Capitalization: $642.6 million
Company Overview
Founded as Lydon & Drews dredging company, Great Lakes Dredge & Dock (NASDAQ:GLDD) provides dredging services, land reclamation, and coastal protection projects in the United States and internationally.
Sales Growth
A company's long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Unfortunately, Great Lakes Dredge & Dock's 1.8% annualized revenue growth over the last five years was sluggish. This was below our standards and is a poor baseline for our analysis.
Great Lakes Dredge & Dock Quarterly Revenue
We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Great Lakes Dredge & Dock's annualized revenue growth of 14.8% over the last two years is above its five-year trend, suggesting its demand recently accelerated.
Great Lakes Dredge & Dock Year-On-Year Revenue Growth
This quarter, Great Lakes Dredge & Dock reported robust year-on-year revenue growth of 22.3%, and its $242.9 million of revenue topped Wall Street estimates by 17.5%.
Looking ahead, sell-side analysts expect revenue to decline by 3.1% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and indicates its products and services will face some demand challenges.
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