Dredging and coastal protection company Great Lakes Dredge & Dock (NASDAQ: GLDD) will be reporting earnings tomorrow before the bell. Here’s what to look for.
Great Lakes Dredge & Dock missed analysts’ revenue expectations by 4% last quarter, reporting revenues of $202.8 million, up 11.6% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Great Lakes Dredge & Dock a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Great Lakes Dredge & Dock’s revenue to grow 4% year on year to $206.7 million, slowing from the 25.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.26 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Great Lakes Dredge & Dock has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Great Lakes Dredge & Dock’s peers in the construction and maintenance services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 19.1%, beating analysts’ expectations by 4.2%, and Orion reported revenues up 17.4%, topping estimates by 8.8%. Comfort Systems traded up 5.6% following the results while Orion’s stock price was unchanged.
Read our full analysis of Comfort Systems’s results here and Orion’s results here.
There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 13% on average over the last month. Great Lakes Dredge & Dock is up 17.6% during the same time and is heading into earnings with an average analyst price target of $14.50 (compared to the current share price of $9.54).
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