But if the picture continues as it has, even that will eventually have to change. But there's only one catalyst for the firm that is still keeping me optimistic to the point of granting it a more neutral rating. In most circumstances, I would rate a company like this rather bearishly.
What's more, backlog for the company continues to decline. Revenue, profits, and cash flows have all taken a hit. Shares have taken a beating over the past several months, but this decline was not necessarily unwarranted. Some of its work also includes coastal restoration and land reclamation, trench digging for pipelines, and more. Its work spans government projects, projects for private industry, and even touches on newer industries like the offshore wind market. As its name suggests, the company is involved in the business of providing dredging services. One company that just cannot seem to catch a break is Great Lakes Dredge & Dock ( NASDAQ: GLDD).
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