Great Lakes Drg Dock Down 9.17% To $6.81 After Earnings Beat

Great Lakes Drg Dock (GLDD) said before open Tuesday that it lost $0.09 per share in quarter three 2023.

On the revenue line, the company reported $117.2 million, missing estimates by $19.6 million.

In the same quarter a year ago, the company lost $0.15 per share on revenue of $158.3 million.

The stock is down 9.17% to $6.81 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Great Lakes Drg Dock a Neutral Sentiment Rank from InvestorsObserver.

Great Lakes Drg Dock has performed a little above average during the past few months. Before the report, Great Lakes Drg Dock received a Long-Term Technical Rank by InvestorsObserver of 59, putting it in the top half of stocks. The firm set a 52-week high on August 2, 2023 at $9.67 and set a 52-week low on March 23, 2023 at $4.75.

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Ports and Harbors, International, and Inland Dredging.