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    Kevin Gainey • Thompson Davis & Co.

    Kevin Gainey's questions to Great Lakes Dredge & Dock Corp (GLDD) leadership

    Kevin Gainey's questions to Great Lakes Dredge & Dock Corp (GLDD) leadership • Q2 2025

    Question

    Kevin Gainey of Thompson Davis & Co. sought more detail on the Acadia's market opportunities, specifically international wind versus asset protection. He also asked about the Q4 dry dock schedule and the cash flow outlook for the second half of the year.

    Answer

    CEO Lasse Petterson detailed that the Acadia is being actively bid for European offshore wind farms, power cable protection, and safeguarding subsea oil and gas infrastructure. SVP & CFO Scott Kornblau stated two vessels are planned for dry dock in Q4, 2026 will be a light dry dock year, and H2 2025 cash flow is expected to be 'flattish' before significant cash generation begins in 2026.

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    Kevin Gainey's questions to Primoris Services Corp (PRIM) leadership

    Kevin Gainey's questions to Primoris Services Corp (PRIM) leadership • Q1 2025

    Question

    Kevin Gainey from Thompson, Davis & Company asked about customer conversations in communications and power delivery, and also inquired about the drivers behind higher accounts payable and the cash flow outlook.

    Answer

    Chairman and Interim CEO David King noted continued demand for growth from communications clients and that major utility capital programs are driving power delivery work. CFO Ken Dodgen stated the accounts payable increase was due to timing and expects it to normalize. He expressed confidence in the full-year operating cash flow outlook, suggesting it could exceed $250 million.

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    Kevin Gainey's questions to Primoris Services Corp (PRIM) leadership • Q3 2024

    Question

    Kevin Gainey asked about the factors that would drive performance to the low or high end of the Q4 EBITDA guidance range. He also requested more detail on the Q4 cash flow outlook and the potential growth impact from recent California utility rate case approvals.

    Answer

    CFO Ken Dodgen explained that the Q4 EBITDA outcome will be heavily driven by the timing of the seasonal shutdown in Utilities and the timing of project closeouts in the Energy segment. He expects Q4 cash flow to be solid but lower than the prior year, around $100 million, due to some cash being pulled forward into Q3. CEO Tom McCormick noted that while it's still early, the California rate approvals are expected to create project opportunities for the gas distribution business in 2025.

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    Kevin Gainey's questions to GXO Logistics Inc (GXO) leadership

    Kevin Gainey's questions to GXO Logistics Inc (GXO) leadership • Q4 2024

    Question

    Kevin Gainey of Thompson Davis asked for color on the customer pipeline dynamics, including customer urgency, and inquired about the competitive landscape and signs of green shoots in warehousing.

    Answer

    CEO Malcolm Wilson described a very strong sales pipeline, up 15% YoY to $2.3B, which excludes the Wincanton pipeline. He noted a resurgence in e-commerce projects and new inquiries related to potential U.S. tariff changes. He stated the competitive landscape is stable. CSO Kristine Kubacki added that GXO's proprietary AI technology is a key differentiator, delivering productivity gains of 3-4x and helping to win new business.

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