Great Lakes Dredge & Dock Corporation (GLDD) Financial Statements (2024 and earlier)

Company Profile

Business Address 9811 KATY FREEWAY
HOUSTON, TX 77024
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 16 - Heavy Construction Other Than Building Construction Contractors (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,546145,459216,510186,99534,45815,852
Cash and cash equivalents6,546145,459216,510186,99534,45815,852
Receivables65,92239,84432,10622,56064,77975,533
Inventory, net of allowances, customer advances and progress billings29,22930,76034,68930,18928,11234,600
Inventory29,22930,76034,68930,18928,11234,600
Prepaid expense 1,5682,0173,0911,5254,7105,183
Disposal group, including discontinued operation     24,779 
Costs in excess of billings90,788
Other current assets 34,68626,39937,30739,65831,90740,228
Other undisclosed current assets44,89082,95338,99019,78517,953 
Total current assets:182,841327,432362,693300,712206,698262,184
Noncurrent Assets
Inventory, Noncurrent80,04465,04958,41361,12661,26454,023
Operating lease, right-of-use asset89,73362,23365,18872,612
Property, plant and equipment543,910455,102383,042374,596369,863407,294
Long-term investments and receivables   2,1122,1122,1122,714
Long-term investments      2,714
Accounts and financing receivable, after allowance for credit loss   2,1122,1122,112 
Intangible assets, net (including goodwill)76,57676,57676,57676,57676,57684,484
Goodwill76,57676,57676,57676,57676,57683,576
Intangible assets, net (excluding goodwill)      908
Disposal group, including discontinued operation, noncurrent assets     1,5738,530
Other noncurrent assets8,67611,2789,2127,96010,76013,128
Other undisclosed noncurrent assets   7881,8581,425 
Total noncurrent assets:798,939670,238595,331596,840523,573570,173
TOTAL ASSETS:981,780997,670958,024897,552730,271832,357
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities123,546123,192124,207127,316119,888143,877
Accounts payable94,07785,56671,30876,09171,53787,659
Accrued liabilities29,46937,62652,89951,22548,35156,218
Deferred revenue9,91414,81432,60855,266
Debt    21,35111,5004,304
Disposal group, including discontinued operation     13,940 
Contract with customer, liability17,793
Other undisclosed current liabilities26,87316,72919,472  2,069
Total current liabilities:160,333154,735176,287203,933163,121150,250
Noncurrent Liabilities
Long-term debt and lease obligation, including:321,521366,957369,614373,974321,950772
Long-term debt, excluding current maturities321,521320,971323,735322,843321,950333,141
Other undisclosed long-term debt and lease obligation      (332,369)
Liabilities, other than long-term debt131,70676,98165,4554,50630,27232,670
Deferred tax liabilities, net22,84625,561
Deferred income tax liabilities59,11568,49756,466 
Disposal group, including discontinued operation, liabilities     146 
Other liabilities7,5818,4848,9894,5067,2807,109
Operating lease, liability65,01045,98645,87951,131
Other undisclosed noncurrent liabilities   35,740 427,369
Total noncurrent liabilities:453,227443,938435,069414,220352,222460,811
Total liabilities:613,560598,673611,356618,153515,343611,061
Equity
Equity, attributable to parent368,220398,997346,668279,399214,928221,296
Common stock666666
Treasury stock, value     (1,433)(1,433)
Additional paid in capital312,091308,482304,757302,189295,135289,821
Accumulated other comprehensive income (loss)(191)140968295(3,809)3
Retained earnings (accumulated deficit)56,31490,36940,937(23,091)(74,971)(67,101)
Total equity:368,220398,997346,668279,399214,928221,296
TOTAL LIABILITIES AND EQUITY:981,780997,670958,024897,552730,271832,357

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues648,781726,149733,601711,518620,795702,503
Cost of revenue
(Cost of Goods and Services Sold)
(617,608)(580,879)(562,373)(557,761)(509,335)(652,620)
Gross profit:31,173145,270171,228153,757111,46049,883
Operating expenses(51,117)(61,840)(62,757)(59,110)(55,108)(68,331)
Other undisclosed operating income (loss)(7,792) 3,2943,481(3,731)(5,077)
Operating income (loss):(27,736)83,430111,76598,12852,621(23,525)
Nonoperating expense(15,679)(20,607)(25,475)(27,207)(36,168)(30,648)
Other nonoperating income (expense)(1,571)9941,110317(2,590)(788)
Interest and debt expense   (1,611)(2,231)(3,504)(3,280)
Other undisclosed income from continuing operations before equity method investments, income taxes   1,6112,2313,5043,280
Income (loss) from continuing operations before equity method investments, income taxes:(43,415)62,82386,29070,92116,453(54,173)
Income from equity method investments      5,008
Other undisclosed income (loss) from continuing operations before income taxes     (5,008)
Income (loss) from continuing operations before income taxes:(43,415)62,82386,29070,92116,453(54,173)
Income tax expense (benefit)9,360(13,391)(20,187)(15,253)(5,437)35,610
Income (loss) from continuing operations:(34,055)49,43266,10355,66811,016(18,563)
Income (loss) before gain (loss) on sale of properties:49,43266,10349,339(6,293)(31,260)
Loss from discontinued operations    (6,329)(17,309)(12,697)
Net income (loss) available to common stockholders, diluted:(34,055)49,43266,10349,339(6,293)(31,260)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(34,055)49,43266,10349,339(6,293)(31,260)
Other comprehensive income (loss)(331)(828)6734,104(3,812)1,148
Comprehensive income (loss), net of tax, attributable to parent:(34,386)48,60466,77653,443(10,105)(30,112)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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