Great Lakes Dredge & Dock Corporation (GLDD)

In the past six months, Great Lakes Dredge & Dock Corp. experienced a share price increase of 15.27%. S&P Global Ratings upgraded the company's issuer credit rating to "B" from "B-", maintaining a stable outlook, due to improved financial performance. The company's net income more than doubled year-over-year in the third quarter of 2025, driven by high utilization and a focus on higher-margin capital projects. GLDD secured a new $430 million revolving credit facility and launched the Acadia, positioning it for LNG and offshore wind work.

The demand for Great Lakes Dredge & Dock Corp.'s products and services is significantly influenced by government funding cycles and large-scale infrastructure projects. The domestic dredging market has shown consistent strength, with a continued focus on port deepening and coastal protection projects. The U.S. Congress passed a $1.2 trillion infrastructure bill, allocating an additional $11.6 billion for improving the nation's resilience to climate change, including flood control and waterway dredging. The dredging market in 2023 was strong, and the 2024 bid market was anticipated to be even stronger.

Great Lakes Dredge & Dock Corporation (GLDD) is a leading American provider of dredging services, operating within the Industrial Services sector and the Engineering & Construction industry. The company specializes in capital dredging, coastal protection and restoration, maintenance dredging, channel deepening, land reclamation, environmental restoration, trench digging, and other marine construction projects. GLDD operates a diverse fleet of dredging equipment and is expanding into the offshore wind energy industry. Its clientele includes federal, state, and local governments, foreign governments, and domestic and foreign private entities.

GLDD operates extensively within the United States, with its domestic dredging fleet strategically positioned on the East, Gulf, and West Coasts, as well as on inland rivers and lakes. The company also maintains a significant international presence, conducting approximately one-quarter of its business overseas. Over the past two decades, GLDD has performed dredging work in the Middle East, Africa, Australia, the Caribbean, and Central and South America. The company's corporate headquarters are located in Houston, Texas, and it operates marine yards in five U.S. locations.

In the past year, Great Lakes Dredge & Dock Corp.'s brand reputation has been influenced by both positive achievements and regulatory challenges. The U.S. Environmental Protection Agency (EPA) announced a settlement with GLDD for violations of the Marine Protection, Research, and Sanctuaries Act related to a dredging "misdump" in the Gulf of Maine in 2022. Conversely, the company has received industry recognition, including awards such as WorkBoat's Significant Boat of the Year, and the S&P Global Ratings upgrade in November 2025 also reflects positively on the company’s financial health and operational performance.

Great Lakes Dredge & Dock Corporation's ownership is primarily held by institutional investors, who own approximately 63.67% of the company's stock. Insiders own 3.01%, and public companies and individual investors own 33.32%. Major institutional shareholders include BlackRock, Inc., Dimensional Fund Advisors Lp, Jennison Associates Llc, The Vanguard Group Inc, and Harvey Partners, LLC.