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Overview
Orion Group Holdings Inc (ORN) is a specialty construction company that provides a comprehensive range of services in both marine construction and turnkey concrete work. Leveraging decades of experience, Orion serves key infrastructure, industrial, and building sectors across the continental United States, Alaska, Canada, and the Caribbean Basin. With a solid reputation in marine construction, the company excels in projects ranging from marine transportation facility construction and marine pipeline development to environmental dredging and comprehensive marine design services.
Marine Construction Segment
The marine construction division of Orion Group Holdings Inc is dedicated to delivering heavy civil projects on and off the water. This division undertakes the construction and maintenance of critical marine infrastructure including ports, marinas, waterways, and channels. Its expertise spans the installation of marine environmental structures, marine pipelines, and dredging of channels and ports essential for safe maritime traffic. By executing projects that involve complex engineering and innovative construction methods, Orion has developed a reputation for high-quality outcomes and adherence to rigorous safety standards.
Turnkey Concrete Services
Complementing its marine projects, the company's concrete segment offers full-service turnkey concrete construction. Specializing in pour and finish, site preparation, layout, forming, rebar installation, and mesh placement, Orion delivers tailored solutions for various contracts that range from light commercial construction to large-scale structural projects. This segment is known for its precise execution, quality craftsmanship, and ability to meet complex demands across various industry sectors, ensuring that projects are completed on time and within specifications.
Operational Excellence and Industry Position
At its core, Orion Group Holdings Inc focuses on delivering predictable excellence by implementing disciplined bidding processes, innovative project management strategies, and rigorous quality control measures. Its dual-segment business model not only promotes diversified revenue streams but also allows the company to respond flexibly to market demands across both marine and concrete construction sectors. This balanced approach and emphasis on safety, quality, and execution have enabled Orion to secure a strong competitive position within the specialty construction industry.
Service Capabilities and Market Reach
Orion's service capabilities are marked by advanced engineering expertise and a strategic geographic footprint. With regional offices spread throughout its operational areas, the company is well positioned to engage in projects that include marine facility modernizations, environmental restoration initiatives, and large-scale concrete construction assignments. Its portfolio demonstrates a blend of technical proficiency and operational resilience, whether addressing dredging challenges in congested waterways or managing concrete placements for critical infrastructure projects.
Commitment to Quality and Safety
Quality control and safety are foundational to Orion’s operational strategy. The company emphasizes rigorous project planning, adherence to industry regulations, and the continual training of its workforce. This commitment underpins each project, ensuring that the infrastructure delivered not only meets the client’s specifications but also contributes to long-term durability and operational safety.
Frequently Asked Questions
- What are the main service areas of Orion Group Holdings Inc?
Orion Group Holdings Inc specializes in both marine construction and turnkey concrete services across the continental United States, Alaska, Canada, and the Caribbean Basin.
- Which segments comprise the company’s operations?
The company is organized into two main segments: the heavy civil marine construction segment and the commercial concrete segment.
- What types of projects does the marine segment handle?
The marine segment covers a range of projects including marine transportation facility construction, pipeline construction, dredging of waterways, environmental structure development, and specialty marine services.
- How does the concrete segment support its clients?
The concrete segment provides comprehensive turnkey concrete construction services, handling projects from site preparation through pour and finish for commercial, industrial, and structural applications.
- What distinguishes Orion in the competitive construction industry?
Orion stands out due to its diversified service offerings, disciplined project execution, commitment to safety and quality, and its ability to deliver specialized solutions in challenging environments.
- How does Orion ensure high-quality construction projects?
The company emphasizes robust quality control measures, advanced engineering techniques, and rigorous adherence to safety protocols in all its projects.
Conclusion
Orion Group Holdings Inc has cemented its role as an expert provider in specialty construction by blending marine and concrete construction services to address critical infrastructure needs. The company’s methodical approach to bidding, project execution, and quality assurance ensures that each project is delivered with expert precision, solidifying its reputation as a trusted construction partner in its industry.
Orion Group Holdings (NYSE: ORN) reported strong Q4 2024 results with contract revenues increasing 7.6% to $216.9 million. The company achieved a GAAP net income of $6.8 million ($0.17 per share), compared to a loss in the prior year. Q4 Adjusted EBITDA rose 15.3% to $17.1 million.
For full-year 2024, revenues grew 11.9% to $796.4 million, with Adjusted EBITDA increasing 75.9% to $41.9 million. The company reported a narrowed annual GAAP net loss of $1.6 million. Contracted backlog, including post-quarter awards, reached $977.3 million.
Looking ahead to 2025, Orion provided guidance of:
- Revenue: $800-850 million
- Adjusted EBITDA: $42-46 million
- Adjusted EPS: $0.11-0.17
- Capital expenditures: $25-35 million
Orion Group Holdings (NYSE: ORN) has secured new contracts worth $211.7 million, comprising $143.5 million in Marine awards and $68.2 million in Concrete awards. The projects are set to commence in 2025 with completion dates through 2026.
Key Marine awards include a $113.7 million contract from Texas Department of Transportation for the State Highway 6 bridge replacement over Lake Waco, and three separate contracts totaling $29.8 million for Port of Houston, Port of Galveston, and a private dredging project. Additionally, Orion received notification for the Deschutes Estuary Restoration project in Washington state (estimated at $350 million, pending funding).
The Concrete segment secured multiple projects including a multi-story development in Houston, a junior high school, industrial warehouses, and food processing building. The company also won a one-million-square-foot data center project in Iowa, marking their 33rd data center project.
Orion Group Holdings (NYSE: ORN), a specialty construction company, has scheduled the release of its fourth quarter and full year 2024 financial results after market close on Tuesday, March 4, 2025. The company will host a conference call and audio webcast with analysts and investors on Wednesday, March 5, 2025, at 9:00 a.m. Eastern Time/8:00 a.m. Central Time to discuss the results and address questions.
Orion Group Holdings (NYSE: ORN) has secured three contracts totaling approximately $111 million. The largest is an $88 million contract from South Carolina State Ports Authority for the Hugh K. Leatherman Terminal Wharf Extension at the Port of Charleston. The second is a $12.9 million subcontract for Tampa's West Bank Riverwalk pedestrian bridge project. The third is a $10.3 million contract for a data center construction in Garland, Texas. All projects will commence in 2025 with completion expected within 20 months.
Orion Group Holdings (NYSE: ORN) has announced its participation in two upcoming investor conferences. The company's management team will attend the Craig-Hallum 15th Annual Alpha Select Investor Conference on November 19, 2024, in New York, and the Roth 13th Annual Deer Valley Event scheduled for December 12-13, 2024, in Park City, Utah. These events provide opportunities for the specialty construction company to engage with investors and showcase its business developments.
Orion Group Holdings (NYSE: ORN) reported strong Q3 2024 results with contract revenues of $226.7 million, up 34.5% year-over-year. The company posted a GAAP net income of $4.3 million ($0.12 per share) and adjusted net income of $5.6 million ($0.16 per share). Adjusted EBITDA grew 62% to $15.2 million, with cash flow from operations of $35.2 million. The growth was primarily driven by the Pearl Harbor and Grand Bahama Shipyard Dry Dock projects. Total backlog stood at $690.5 million, with $116 million in new contract awards subsequent to quarter end. The company maintains its full-year 2024 Adjusted EBITDA guidance of $40-45 million.
Orion Group Holdings, Inc. (NYSE: ORN), a leading specialty construction company, has announced it will release its third quarter 2024 financial results after the stock market closes on Wednesday, October 30, 2024. The company will host a conference call and audio webcast with analysts and investors on Thursday, October 31, at 9:00 a.m. Eastern Time/8:00 a.m. Central Time to discuss the results and answer questions.
Interested parties can access the live conference call by dialing 844-481-2994. Additionally, a live and archived webcast of the call will be available on the company's Investor Relations website.
Orion Group Holdings (NYSE: ORN), a top specialty construction firm, has announced its participation in D.A. Davidson's 23rd Annual Diversified Industrials & Services Conference. The event is scheduled for September 19-20, 2024, in Nashville, Tennessee.
This conference provides a platform for companies to showcase their services and connect with industry professionals. Orion's management team will be present, likely to discuss the company's recent developments, market position, and future strategies. For investors and analysts, this event offers an opportunity to gain insights into Orion's operations and potential growth prospects in the specialty construction sector.
Orion Group Holdings (NYSE: ORN) has priced its public offering of 4,860,000 shares of common stock at $5.15 per share, aiming to raise $25.0 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes, including potential repayment of indebtedness under its credit agreement. Orion has granted underwriters a 30-day option to purchase up to 729,000 additional shares at the public offering price. The offering is expected to close around September 12, 2024, subject to customary conditions. Craig-Hallum Capital Group is acting as the sole book-running manager, with Roth Capital Partners as co-manager for the offering.
Orion Group Holdings (NYSE: ORN), a leading specialty construction company, has announced a proposed public offering of common stock. The company intends to grant the underwriter a 30-day option to purchase additional shares. Craig-Hallum Capital Group is acting as the sole managing underwriter for the offering.
Orion plans to use the net proceeds for working capital and general corporate purposes, which may include repayment of indebtedness under its credit agreement. The offering is subject to market conditions, and there is no assurance regarding its completion or final terms. A shelf registration statement for the shares has been filed with the SEC and is effective.
FAQ
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What industries does Orion Group Holdings Inc serve?
What are the two main business segments of the company?
What types of projects are handled by the marine construction segment?
How does Orion support large-scale concrete construction?
What factors contribute to Orion's industry reputation?
How does Orion ensure project quality and safety?
