Great Lakes Dredge & Dock Corporation (GLDD) yesterday reported financial results for the quarter ended March 31, 2023, showing improvements in gross profit margins and adjusted EBITDA from the prior three quarters.

“Despite facing continued challenges related to weather delays in the Northeast and a lower-than-normal amount of capital work, we ended the quarter with revenues of $158.0 million and adjusted EBITDA of $10.2 million. The Company’s improved first quarter performance is primarily due to more project work for our vessels and adjustments we have made to the business and operations to improve profitability,” said Lasse Petterson , President and Chief Executive Officer.