Short-Sighted Post-Earnings Selling Creates Buying Opportunity In Great Lakes Dredge & Dock (GLDD)

Great Lakes Dredge & Dock’s (GLDD) earnings announcement had its stock down nearly 14% today. Yet while the revenues of $117.2 million reported for Q3 came in well below the $134.2 million consensus estimate, this was consistent with the company’s expectations for it to be a tough period due to two of its vessels expected to undergo their regulatory drydockings and the idling of some equipment due to market delays from 2022 and the first half of 2023.