Dredging services provider Great Lakes Q2 revenue beats estimates
05/08/2025 13:10
Overview Great Lakes Q2 revenue rises to $193.8 mln, beating analyst expectations Adjusted EBITDA for Q2 beats estimates, driven by strong project execution Co repurchased 1.3 mln shares for $11.6 mln under $50 mln buyback program Outlook Great Lakes anticipates full utilization of Acadia in 2026 Company expanding offshore energy services amid vessel shortage Result Drivers PROJECT EXECUTION - Strong project execution and high equipment utilization drove Q2 results, per CEO Lasse Petterson CAPITAL PROJECTS - Higher revenue from capital projects contributed to Q2 revenue increase, partially offset by lower coastal protection revenue LNG SECTOR - Continued strong dredging activity for private clients in the LNG sector, including new projects added to backlog Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Beat | $193.76 mln | $177.70 mln (4 Analysts) |
| Q2 Net Income | $9.70 mln | ||
| Q2 Adjusted EBITDA | Beat | $28 mln | $24.60 mln (4 Analysts) |
| Q2 Pretax Profit | Beat | $13.12 mln | $8.62 mln (4 Analysts) |
| Q2 Operating Income | $17.09 mln |
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