- Great Lakes Dredge & Dock ( NASDAQ: GLDD ) announced the receipt of several major dredging awards totaling $143.5M with open options pending award of $102.9M.
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Award includes: South Atlantic Division Regional Harbor Dredging 2023 maintenance project worth $26.6M; Fire Island Inlet to Montauk Point, coastal protection contract worth $24.5M; Great Egg Harbor Inlet and Peck Beach Ocean City Beach Renourishment coastal protection project worth $21.5M; Houston Ship Channel, Redfish to Beacon 78 and Bayport Flare Dredging maintenance project worth $20M; Naval Submarine Base Kings Bay Entrance Channel Maintenance Dredging maintenance project worth $16.4M; Gulf Coast Regional Hopper Dredge Rental maintenance contract worth $14.8M; Mobile Harbor Dredging maintenance project worth $12.2M; McLellan-Kerr Arkansas River Navigation System Station Dredging maintenance project worth $7.5M.
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Most of these projects are expected to be completed in Q1 2023, except Mobile Harbor in April 2023; Gulf Coast in October 2023; South Atlantic in August 2023.
- SA mentions that the stock is at a high risk of performing badly with a 50% downturn in price during the last one year.
For further details see:
Great Lakes Dredge & Dock bags contracts worth $143.5M, open options worth $102.9M