Great Lakes Dredge & & Dock Corporation (Nasdaq: GLDD), the biggest company of digging up solutions in the united state, reported monetary outcomes for the quarter finished September 30, 2019, that saw 3rd quarter earnings of $169.8 million in the 3rd quarter. This was below $178.7 million in the very same quarter in 2015, yet brought year-to-date earnings to $547.2 million, a rise of $99.6 million over the very same duration in the previous year.
Gross margin percent reduced to 18.8% in the 3rd quarter from 22.2% in the previous year quarter.
“Bidding activity increased significantly, with over $1.0 billion in projects bid in the third quarter,” claimed chief executive officerLasse Petterson “Bidding activity increased significantly, with over $1.0 billion in projects bid in the third quarter. The third quarter reflects solid project performance which produced results in line with our expectations. Operationally, the quarter had lower dredging activity, due to several vessel drydockings. Most of these drydockings are now complete and those vessels are actively engaged on projects in the fourth quarter. The impact was partially offset by improved performance on the San Jacinto flood prevention project in Houston, Texas and the Jacksonville port deepening project in Florida. Strong performance is also a result of safe project execution as we continue to focus on improving safety on our projects.”
