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Great Lakes Dredge & Dock Third Quarter 2022 Earnings: Misses Expectations

Great Lakes Dredge & Dock (NASDAQ:GLDD) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$158.3m (down 6.1% from 3Q 2021).

  • Net loss: US$9.91m (down by 172% from US$13.8m profit in 3Q 2021).

  • US$0.15 loss per share (down from US$0.21 profit in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Great Lakes Dredge & Dock Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Construction industry in the US.

Performance of the American Construction industry.

The company's shares are down 9.7% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Great Lakes Dredge & Dock (2 don't sit too well with us!) that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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