Welcome to our dedicated page for Orion Group Holdings news (Ticker: ORN), a resource for investors and traders seeking the latest updates and insights on Orion Group Holdings stock.
Orion Group Holdings, Inc. (NYSE: ORN) is a leading specialty construction company based in Houston, Texas. The company operates through two primary segments: Marine and Concrete, providing services across the continental United States, Alaska, Hawaii, Canada, and the Caribbean Basin.
The Marine segment specializes in construction and dredging services. Their portfolio includes marine transportation facility construction, marine pipeline construction, marine environmental structures, and dredging of waterways, channels, and ports. They also offer environmental dredging, design, and specialty construction services. Recent projects include the Port Everglades Bulkhead Replacement Project, highlighting their expertise in modernizing and strengthening maritime infrastructure.
The Concrete segment offers comprehensive turnkey concrete services. Their operations span from site preparation and layout to forming, rebar placement, and pouring and finishing. They cater to a wide range of sectors, including light commercial and structural projects. This segment has been actively involved in the booming data center market, particularly in the Dallas region, driven by the surge in AI-related construction.
Orion Group Holdings has made significant strides in improving their financial performance. For instance, in the fourth quarter of 2023, the company reported an adjusted EBITDA of $14.8 million, reflecting a 7.3% margin, a substantial improvement from the previous year. They have a solid backlog of $762.2 million as of December 31, 2023, ensuring a steady stream of upcoming projects.
The company has also placed a strong emphasis on safety, quality, and innovation. They have been recognized for their safety-first culture and proactive approach to workplace safety. Their commitment extends to mentoring and training on hazard identification and control.
Financially, Orion Group Holdings maintains a healthy balance sheet with current assets of $271.8 million as of December 31, 2023, and minimal outstanding borrowings. The company continues to pursue strategic investments in business development, IT infrastructure, and legal compliance to support its long-term growth objectives.
Orion Group Holdings recently gained inclusion in the Russell 3000® Index, an acknowledgment of their market capitalization and performance. This inclusion is expected to enhance investor awareness, increase institutional ownership, and improve stock liquidity.
Overall, Orion Group Holdings is well-positioned to capitalize on the growing demand for infrastructure and industrial construction services. With a robust operational foundation and a disciplined project delivery strategy, the company is poised for continued growth and success.
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.
Orion Group Holdings, Inc. (NYSE: ORN), a leading specialty construction company, celebrated its 15th anniversary as a listed company on the New York Stock Exchange (NYSE) by ringing The Opening Bell®. The event also marked the company's 30th anniversary since its consolidation as Orion Group Holdings.
CEO Travis Boone highlighted Orion's long legacy, dating back over 100 years, and its reputation as a leading provider of mission-critical services in the marine, industrial, and infrastructure concrete sectors. Boone emphasized the company's commitment to delivering predictable excellence through outstanding execution, crediting the dedication of Orion's workforce.
The Opening Bell® ceremony can be viewed on NYSE.com, the New York Stock Exchange YouTube channel, and Orion's investor relations website.
Orion Group Holdings (NYSE: ORN) reported its Q2 2024 financial results with contract revenues of $192.2 million, up 5.3% year-over-year. The company posted a GAAP net loss of $6.6 million or $0.20 per diluted share and an adjusted net loss of $5.2 million or $0.16 per diluted share. Adjusted EBITDA was $5.5 million.
Due to project delays, Orion lowered its 2024 guidance to revenue of $850-900 million and adjusted EBITDA of $40-45 million. The company's backlog and contracts awarded after Q2 totaled $876.3 million. Orion won $118 million in new projects in July across its Marine and Concrete segments.
Orion Group Holdings (NYSE: ORN) will release its Q2 2024 financial results on July 24, 2024, after market close. The next day, July 25, at 8:00 a.m. Central Time, the company will host a conference call and audio webcast to discuss the results and engage with analysts and investors. Interested parties can join the live call or access the webcast, both live and archived, through the company's investor relations website.
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