Great Lakes Dredge & Dock Corporation (GLDD) today announced financial results for the quarter ended March 31, 2017, reporting revenue of $170.6 million, net loss from continuing operations of $3.7 million and Adjusted EBITDA from continuing operations of $14.2 million.
“The company’s first quarter 2017 results were in line with our expectations. The Dredging segment’s performance was solid despite some softness in the international market and delays on some domestic projects. Keep in mind that the first quarter in 2016 was quite strong for the Dredging segment, driven by robust performances on several coastal protection and capital projects,” said Chief Financial Officer, Mark Marinko.
“We continued to see the benefits of our realigned and refocused Environmental & Infrastructure (E&I) segment, with a marked improvement in results compared to the first quarter of 2016, though still at a loss due to the seasonality of the business.”
Dredging
Environmental & Infrastructure
Total Company