Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Q3 2023 Earnings Conference Call November 7, 2023 10:00 AM ET
Company Participants
Tina Baginskis - Director, IR
Lasse Petterson - President and CEO
Scott Kornblau - SVP and CFO
Conference Call Participants
Joe Gomes - NOBLE Capital Markets
Adam Thalhimer - Thompson, Davis
Jon Tanwanteng - CJS Securities
William Hong - Reorg Research
Jacob Christensen - Axebrook Capital
Operator
Good day and thank you for standing by. Welcome to the Q3 2023 Great Lakes Dredge & Dock Corp Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
And I would now like to hand the conference over to your speaker today, Ms. Tina Baginskis, Director of Investor Relations. Please go ahead.
Tina Baginskis
Thank you. Good morning and welcome to our third quarter 2023 conference call. Joining me on the call this morning is our 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. Lasse will conclude with an update on the outlook for the business and the market. Following their comments, there will be an opportunity for questions.
During this call, we will make certain forward-looking statements to help you understand our business. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from our expectations. 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.
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.
With that, I will turn the call over to Lasse.
Lasse Petterson
Thank you, Tina. The third quarter, as expected, was a challenging quarter due to vessel dry docks and idle equipment due to the market delays from 2022 and the first half of 2023. Despite the challenges, we were successful in building a solid backlog for the fourth quarter and for 2024 and onwards.