Great Lakes Dredge & Dock CORP (GLDD) FY2025 10-K Annual Report
Great Lakes Dredge & Dock CORP (GLDD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Great Lakes Dredge & Dock CORP FY2025 10-K Analysis
Business Overview
- • Core business: Marine dredging and construction services provider
- • No new products, services, or segments introduced or emphasized in 2026 filing
Management Discussion & Analysis
- • Total backlog $888.1M in 2025, down 28% from $1.24B in 2024, dredging backlog down 36% to $763.2M vs $1.19B
- • Operating cash flow $246.7M in 2025 vs $70.1M in 2024, driven by higher earnings and better working capital management
Risk Factors
- • Regulatory/legal risk: Receipt of required antitrust clearance for Merger Agreement with Saltchuk subject to closing conditions, failure risks $37M termination fee
- • Geopolitical/macroeconomic threat: Federal dredging revenue declined from 74% in 2023 to 48% in 2025; subject to U.S. government budget approvals and possible shutdowns
Great Lakes Dredge & Dock CORP FY2025 Key Financial MetricsXBRL
Revenue
$888M
▲ +16.5% YoY
Net Income
$73M
▲ +28.3% YoY
Gross Margin
22.9%
▲ +185bp YoY
Operating Margin
14.4%
▲ +222bp YoY
Net Margin
8.3%
▲ +76bp YoY
ROE
14.2%
▲ +145bp YoY
Total Assets
$1.3B
▲ +2.4% YoY
EPS (Diluted)
$1.08
▲ +28.6% YoY
Operating Cash Flow
$247M
▲ +252.1% YoY
Source: XBRL data from Great Lakes Dredge & Dock CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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