During the corresponding time, Great Lakes Dredge And Dock Corporation recorded a revenue increase by 25.85 % year on year, sequentially revenue grew by 31.77 %. While revenue at the Great Lakes Dredge And Dock Corporation's corporate clients
Great Lakes Dredge And Dock's Comment on Sales, Marketing and Customers
The dredging industry serves federal, state, and local governments, foreign governments, and domestic and foreign private customers, including utilities, oil and gas, and other energy companies. The U.S. Army Corps of Engineers is the largest U.S. dredging customer, responsible for federally funded navigation and flood control projects. The U.S. Coast Guard and the U.S. Navy also award federal contracts for their facilities. In 2025, approximately 48% of the Company's revenues were derived from 29 contracts with federal agencies or third parties under federal contracts. Offshore energy customers include utility companies, offshore wind developers, cable installers, offshore installation contractors, and oil and gas companies. Most contracts are competitively bid, with criteria varying by customer type, including lowest qualified bid for government contracts and factors such as experience, equipment, safety record, and price for private customers. Some government contracts are awarded through sole source procurement or request for proposal processes. Offshore energy projects require pre-qualification and invitation to bid through a request for quotation process, with final selection based on schedule, price, and contractual terms. Bonds such as bid bonds, performance bonds, and payment bonds are typically required for domestic and some foreign projects. The Company operates in markets including the Great Lakes.
News about Great Lakes Dredge and Dock Corporation Contracts
HOUSTON, Aug. 26, 2024 - Great Lakes Dredge and Dock Corporation (NASDAQ: GLDD), the premier provider of dredging services in the United States, has announced a significant milestone in its business operations. The company has successfully secured dredging awards totaling an impressive $256.2 million. This substantial accumulation of contracts positions Great Lakes as a dominant force in the dredging industry and reaffirms its reputation for excellence and reliability.The awarded contracts are set to encompass a range of high-profile projects, each crucial for maintaining and enhancing the nation s waterways and coastal infrastructure. The projects will span various locations and will include essential serv...
Great Lakes Dredge And Dock’s Comment on Sales, Marketing and Customers
The dredging industry serves federal, state, and local governments, foreign governments, and domestic and foreign private customers, including utilities, oil and gas, and other energy companies. The U.S. Army Corps of Engineers is the largest U.S. dredging customer, responsible for federally funded navigation and flood control projects. The U.S. Coast Guard and the U.S. Navy also award federal contracts for their facilities. In 2025, approximately 48% of the Company's revenues were derived from 29 contracts with federal agencies or third parties under federal contracts. Offshore energy customers include utility companies, offshore wind developers, cable installers, offshore installation contractors, and oil and gas companies. Most contracts are competitively bid, with criteria varying by customer type, including lowest qualified bid for government contracts and factors such as experience, equipment, safety record, and price for private customers. Some government contracts are awarded through sole source procurement or request for proposal processes. Offshore energy projects require pre-qualification and invitation to bid through a request for quotation process, with final selection based on schedule, price, and contractual terms. Bonds such as bid bonds, performance bonds, and payment bonds are typically required for domestic and some foreign projects. The Company operates in markets including the Great Lakes.
Sources:
Great Lakes Dredge and Dock Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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