Great Lakes beats Q4 revenue estimates

Great Lakes Dredge & Dock

23/02/2026 21:24

Overview

US dredging service provider's Q4 revenue beat analysts' expectations

Adjusted EBITDA beat analysts' estimates

Company announced two new international offshore energy contracts

Outlook

Company expects Saltchuk acquisition to close in Q2 2026

Great Lakes signs offshore energy contracts for 2027 utilization

Company did not provide specific financial guidance

Result Drivers

AMELIA ISLAND IMPACT - Revenue increase in Q4 2025 attributed to first full quarter of operations at Amelia Island and higher capital and offshore energy revenues

PROJECT PERFORMANCE - Improved project performance contributed to higher gross profit in Q4 2025 despite increased drydocking expenses

Company press release: ID:nGNX7St3F2

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$256.50 mln
$214.32 mln (6 Analysts)
Q4 Net Income
$12.60 mln
Q4 Adjusted EBITDA
Beat
$44 mln
$41.85 mln (6 Analysts)
Q4 Gross Margin
20.90%
Q4 Operating Income
$32.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Great Lakes Dredge & Dock Corp is $17.00, about 0.7% above its February 20 closing price of $16.89

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)