Great Lakes Dredge & Dock Corporation reported a third-quarter net income of $17.7 million and Adjusted EBITDA of $39.3 million. Their dredging backlog as of September 30, 2025, stood at $934.5 million. Revenue was $195.2 million, with total operating income of $28.1 million. The company’s backlog includes major port deepening LNG projects. They completed an amendment to their revolving credit facility, increasing it by $100 million.

During the third quarter of 2025, Great Lakes Dredge & Dock Corporation had revenue of $195.2 million, an increase of $4.0 million from the same period in 2024. Gross profit was $43.8 million with a gross profit margin of 22.4%. Operating income was $28.1 million, net income was $17.7 million. The company’s dredging backlog as of September 30, 2025, was $934.5 million.

The federal government shutdown on October 1, 2025, did not impact Great Lakes’ operations. They remain committed to supporting the U.S. Army Corps of Engineers and have full funding for all projects in their backlog. The company has secured contracts for full utilization of the Acadia vessel for 2026 and is expanding into new offshore energy markets. They have diversified their strategic target markets to include oil and gas pipeline protection and power and telecommunications cable protection.

Great Lakes Dredge & Dock Corporation will conduct a quarterly conference call on November 4, 2025. Adjusted EBITDA for the third quarter of 2025 was $39.3 million, and the company had $12.7 million in cash and cash equivalents as of September 30, 2025. Their dredging backlog at that date was $934.5 million, and offshore energy backlog was $73.0 million. Total capital expenditures for the quarter were $32.8 million.

Read more at Globe Newswire: Great Lakes Reports Third Quarter 2025 Results