Great Lakes Dredge & Dock (GLDD) stock plummeted 5.01% in intraday trading on Wednesday, following an executive order signed by President Trump that paused the issuance of new offshore wind leases and permits, and ordered a review of the U.S. wind generation permitting and leasing process.
While the executive order does not directly impact fully permitted and ongoing construction projects that GLDD has secured contracts for, it raises uncertainty around the company's long-term growth plans in the offshore wind energy market.
As stated in the Q4 2024 earnings call, GLDD has been broadening its target market for the subsea rock installation vessel Acadia to include international offshore wind projects, as well as protecting critical subsea infrastructure like oil and gas pipelines and telecommunication cables. However, the executive order signals a potential slowdown in the U.S. offshore wind market in 2027 and 2028, which could impact GLDD's offshore energy initiatives.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。