Great Lakes Dredging Rallies Post-Sandy

8:39 EST 6 November - Some maritime-services companies like Great Lakes (GLDD), which does dredging and other work, have rallied in recent days amid Hurricane Sandy. But GLDD, the largest US dredger, is liable to see its gains backtrack as it reports disappointing 3Q results. It posted a surprise loss as the company was hit by Hurricane Isaac, and GLDD says it’s lost notable work time this quarter due to Sandy. But CEO Jonathan Burger says the storms “should result in increasing focus and demand for supplemental federal funding critical for coastal restoration and beach projects in the Gulf of Mexico and on the East Coast.” Investors of late have been focused on GLDD’s future; the here and now should warrant some attention, too. Shares, inactive premarket, are up 14% the past week.

-Kevin Kingsbury, © 2012 Dow Jones & Company