Capital projects, including harbor and port deepening and expansion, coastal restoration, and underwater trenching: 9-mo 2020 revenue $245 mil (+14% y-o-y) and 33% 3-year average market share.GLDD benefits from the need to keep the natural movements of sand in check.Īs an update to my Aug 2020 commentary titled, Great Lakes Dredge & Dock: The Ry-Cooder of Infrastructure Stocks, below is listed the most recent 9-mo 2020 revenues by project groupings from their recent press release and 3-yr average market share from their most recent investor presentation. Just as certain as the sunrises every morning, the movement of the seabed and erosion of beaches is a perpetual process which requires consistent attention. Usually separated into inland and ocean/coastal projects, GLDD specializes in ocean projects of harbor deepening, shipping channel maintenance, and coastal restoration. While a seemingly simple process of moving the seabed from one place to another, dredging is a complex and critical service. Great Lake Dredge & Dock is the oldest and largest dredging company in the US with substantial market share and limited competition. With extraordinarily few Wall Street followers, GLDD remains an unfound and value-priced stock, ripe to continue its bull run into 2021. Great Lakes Dredge & Dock ( NASDAQ: GLDD) is a small-cap infrastructure stock that is much akin to the theme song from the 1960s TV show “Rawhide.” Like the little ‘doggies’ on the cattle drive, Great Lake Dredge & Dock just keep rollin’ along.
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