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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Great Lakes Dredge & Dock
Great Lakes Dredge & Dock (GLDD) investor relations material
Great Lakes Dredge & Dock has been acquired
Great Lakes Dredge & Dock Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary23 Feb, 2026
Executive summary
Achieved record full year revenue of $888.3 million for 2025, up $125.6 million year-over-year.
Full year net income was $73.5 million, with adjusted net income of $81.6 million, reflecting a one-time $8.1 million expense from debt extinguishment.
Signed two international offshore energy contracts, securing vessel utilization in Europe through most of 2027.
Announced definitive agreement for acquisition by Saltchuk Resources, expected to close in Q2 2026.
Financial highlights
Fourth quarter 2025 revenue was $256.5 million, up $53.7 million from Q4 2024.
Q4 2025 net income was $12.6 million, down from $19.7 million in Q4 2024 due to a one-time $8.1 million debt extinguishment expense; adjusted net income was $20.7 million.
Full year 2025 gross profit was $203.5 million (margin 22.9%), up from $160.6 million (margin 21.1%) in 2024.
Adjusted EBITDA for 2025 reached a record $171.3 million, up from $136.0 million in 2024.
Diluted EPS for 2025 was $1.08; adjusted diluted EPS was $1.20.
Outlook and guidance
Offshore energy contracts will keep the Acadia vessel utilized in Europe for most of 2027.
Pending acquisition by Saltchuk Resources is expected to close in Q2 2026, subject to regulatory and shareholder approvals.
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Latest events from Great Lakes Dredge & Dock
- Profitability rebounded and backlog hit $1.04 billion amid offshore wind uncertainty.GLDD
Q4 2023 - Record backlog, strong margins, and offshore wind growth drive robust outlook through 2026.GLDDNoble Capital Markets Virtual Equity Conference
- Record backlog and strong project wins set the stage for sustained growth and high utilization.GLDDSidoti September Small-Cap Virtual Conference
- Revenue up 28%, net income and backlog strong, offshore wind and CapEx progress continue.GLDDQ2 2024
- Record backlog and robust project wins drive strong financial turnaround and growth outlook.GLDDQ3 2024
- Record backlog, strong margins, and offshore wind growth drive positive outlook.GLDDSmall-Cap Growth Virtual Investor Conference
- Record 2024 results, robust backlog, and global expansion drive optimism for future growth.GLDDSidoti Small-Cap Virtual Conference
- Record backlog and high-margin projects drive strong outlook through 2025, with cash flow turning positive in 2026.GLDDCJS Securities 25th Annual “New Ideas for the New Year” Investor Conference
- Record 2024 results, $1.2B backlog, and offshore energy expansion drive strong outlook.GLDDQ4 2024
Great Lakes Dredge & Dock
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Frequently asked questions
Great Lakes Dredge & Dock Corporation is a provider of dredging services and marine infrastructure solutions. The company specializes in capital, maintenance, and environmental dredging projects, including land reclamation, port expansion, and coastal protection. It also offers demolition and marine construction services, supporting public and private sector clients in the United States and internationally. Great Lakes plays a key role in projects designed to mitigate coastal erosion, improve waterways, and enhance infrastructure. The company is headquartered in Houston, Texas, and its shares are listed on the NASDAQ.