Julio Romero

Adam Thalhimer

Jonathan Tanwanteng

Joseph Gomes

Jeremy Routh

Joe Gomes

Kevin Gainey

- Great Lakes Dredge & Dock Corporation (GLDD) announced on **October 1, 2025**, the receipt of **seven new work awards** totaling **over $130 million**.  **[1372020_365cfd86f6a5459a901df57a205ccca4_0]** 
- These projects, primarily for **maintenance and coastal protection**, were won and awarded in the **third quarter of 2025**.  **[1372020_365cfd86f6a5459a901df57a205ccca4_0]** **[1372020_365cfd86f6a5459a901df57a205ccca4_1]** 
- Key awards include the Mississippi River, Baton Rouge to the Gulf, Head of Passes Project for **$27.9 million**, the South Atlantic Division (SAD) Regional Harbor Dredging Contract for **$26.9 million**, and the Baltimore Harbor and Channels Cape Henry project for **$25.5 million**.  **[1372020_365cfd86f6a5459a901df57a205ccca4_0]** 
- Work on most projects is anticipated to begin in the **fourth quarter of 2025**, with one project having commenced in the third quarter of 2025.  **[1372020_365cfd86f6a5459a901df57a205ccca4_0]** **[1372020_365cfd86f6a5459a901df57a205ccca4_1]** 
- CEO Lasse Petterson noted that these awards expand the **2025 dredging backlog**, reinforcing **revenue visibility** through the remainder of 2025 and into 2026, and confirmed that operations are unaffected by the current government shutdown.  **[1372020_365cfd86f6a5459a901df57a205ccca4_1]**

Great Lakes Dredge & Dock Secures Over $130 Million in New Work Awards

- Great Lakes Dredge & Dock (GLDD) has maintained a **$1 billion backlog** and reported strong performance, with the first half of **2025 exceeding the first half of 2024** in revenue, gross margin, and EBITDA.  **[1372020_2147379_1]** **[1372020_2147379_4]** 
- The company is nearing completion of its **$550 million new build program**, with the **Amelia Island** recently delivered and the **Acadia**, a subsea rock installation vessel, expected in early **2026**.  **[1372020_2147379_2]** **[1372020_2147379_3]** 
- GLDD has secured **two contracts** for the Acadia in the US for **2026** and plans to market the vessel internationally due to an undersupply in the global market.  **[1372020_2147379_3]** 
- The primary capital allocation priority after the new build program is to **de-lever**, with plans to pay down approximately **$100 million in debt**.  **[1372020_2147379_4]** **[1372020_2147379_7]** 
- The US dredging market remains robust, with a **record $2.9 billion** market in **2024** and expectations for a new record budget for the Army Corps, alongside an anticipated new deepening cycle on the East Coast.  **[1372020_2147379_2]** **[1372020_2147379_5]**