Lasse Petterson, President and Chief Executive Officer commented, “The fourth quarter continued to be impacted by a significantly delayed bid market combined with high inflation, significant weather delays on projects in the Northeast, fewer high margin capital projects, dredging project production issues, higher than anticipated drydock costs, and the retirement of the Terrapin Island.
Adjusted EBITDA was $17.0 million for the full year 2022.Net loss was $34.1 million for the full year 2022.Total operating loss was $27.7 million for the full year 2022.Revenue was $648.8 million for the full year 2022.15, 2023 (GLOBE NEWSWIRE) - Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the quarter and year ended December 31, 2022.
Net loss and adjusted EBITDA include $8.1 million charge for retirement of the Terrapin Island hopper dredge in Q4ĭredging backlog of $377.1 million at December 31, 2022 Fourth quarter negative adjusted EBITDA of $24.2 millionįull year adjusted EBITDA of $17.0 million
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