五大湖区疏浚及码头公司2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period endedSeptember 30,2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 Great Lakes Dredge & Dock Corporation(Exact name of registrant as specified in its charter) Delaware(State or other jurisdiction ofincorporation or organization) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☐ Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of October 31, 2025,67,999,305shares of the Registrant’s Common Stock, par value $.0001 per share, were outstanding. Great Lakes Dredge & Dock Corporation and Subsidiaries Quarterly Report Pursuant to Section 13 or 15(d) of theSecurities Exchange Act of 1934For the Quarterly Period ended September 30, 2025 Part I Financial Information (Unaudited) 3Item 1Financial Statements3Condensed Consolidated Balance Sheets at September 30, 2025 and December 31, 20243Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30,2025 and 20244Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months EndedSeptember 30, 2025 and 20245Condensed Consolidated Statements of Equity for the Three and Nine Months Ended September 30, 2025and 20246Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and20248Notes to Condensed Consolidated Financial Statements9Item 2Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3Quantitative and Qualitative Disclosures About Market Risk29Item 4Controls and Procedures29Part II Other Information30Item 1Legal Proceedings30Item 1ARisk Factors30Item 2Unregistered Sales of Equity Securities and Use of Proceeds30Item 3Defaults Upon Senior Securities30Item 4Mine Safety Disclosures30Item 5Other Information30Item 6Exhibits31Signature32 GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets(Unaudited)(in thousands, except per share amounts) Great Lakes Dredge & Dock Corporation and Subsidiaries Condensed Consolidated Statements of Comprehensive Income(Unaudited)(in thousands) (1)Net of income tax(provision) benefit of $(214)and $900for the three months ended September 30, 2025 and 2024,respectively. Net of income tax (provision) benefit of $(285)and $447for the nine months ended September 30, 2025 and2024, respectively. See notes to unaudited condensed consolidated financial statements. Great Lakes Dredge & Dock Corporation and Subsidiaries Condensed Consolidated Statements of Equity(Unaudited)(in thousands) Great Lakes Dredge & Dock Corporation and Subsidiaries Condensed Consolidated Statements of Equity(Unaudited)(in thousands) GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)(dollar amounts in thousands, except per share amounts or as otherwise noted) 1.Basis of presentation The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the auditedconsolidated financial statements of Great Lakes Dredge & Dock Corporation and Subsidiaries (the “Company” or “Great Lakes”)and the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Thecondensed consolidated financial statements included herein have been prepared by the Company without audit, pursuant to therules and regulations of the Securities and Exchange Commission (“SE