All combined, this resulted in an adjusted EBITDA of $16.6 million, our highest EBITDA since the first quarter of 2022. The second quarter EBITDA is a result of an improved bid market and our cost-saving initiatives which resulted in improved project margins. As we indicated in our last earnings call, the difficulties we faced in 2022 as a result of the severely delayed bid market for capital and beach restoration projects is now slowly coming to an end. With that, I will turn the call over to Lasse. During this call, we also refer to certain non-GAAP financial measures, including adjusted EBITDA, which are explained in the net income to adjusted EBITDA reconciliation attached to our earnings release and posted on our Investor Relations website, along with certain other operating data. Certain risk factors inherent in our business are set forth in our earnings release and in filings with the SEC, including our 2022 Form 10-K and subsequent filings. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from our expectations. Following their comments, there will be an opportunity for questions.ĭuring this call, we will make certain forward-looking statements to help you understand our business. Lasse will conclude with an update on the outlook for the business and the market.
Joining me on this call this morning is President and Chief Executive Officer, Lasse Petterson and our Chief Financial Officer, Scott Kornblau, Lasse will provide an update on the events of the quarter, then Scott will continue with an update on our financial results for the quarter. Good morning, and welcome to our second quarter 2023 conference call. I would now like to hand the conference over to your first speaker today, Tina Baginskis. Please be advised that today's conference is being recorded. At this time, all participants are in listen-only mode. Welcome to the Second Quarter 2023 Great Lakes Dredge & Dock Corporation Earnings Conference Call. Scott Kornblau - Senior Vice President and Chief Financial Officer Lasse Petterson - President and Chief Executive Officer Tina Baginskis - Director of Investor Relations Great Lakes Dredge & Dock Corporation ( NASDAQ: GLDD) Q2 2023 Results Conference Call Aug10:00 AM ET
0 kommentar(er)
