Jeremy Routh's questions to Great Lakes Dredge & Dock Corp (GLDD) leadership • Q2 2025
Question
Jeremy Routh, on behalf of John Tanwanteng at CJS Securities, asked about capital allocation priorities between share repurchases and debt paydown, and the rationale for expanding the credit facility.
Answer
SVP & CFO Scott Kornblau clarified that the primary focus is completing the newbuild program and then deleveraging. He described the share buyback as an opportunistic reaction to a depressed stock price. The credit facility was upsized to secure favorable pricing and to support the growing need for letters of credit for LNG and offshore energy projects.