Welcome to our dedicated page for Orion Group Hldgs news (Ticker: ORN), a resource for investors and traders seeking the latest updates and insights on Orion Group Hldgs stock.
Orion Group Holdings Inc (ORN) provides essential marine infrastructure and turnkey concrete solutions across North America. This news hub offers investors and industry professionals centralized access to official updates and analysis on the company's operations.
Track critical developments including project awards, financial results, leadership changes, and strategic initiatives. Our curated collection features press releases covering marine construction milestones, concrete segment contracts, safety achievements, and operational expansions.
Key updates include coastal protection projects, port modernization efforts, environmental compliance developments, and commercial construction partnerships. The resource serves as a reliable reference for understanding ORN's market position and execution capabilities in specialty construction sectors.
Bookmark this page for streamlined access to verified information supporting informed analysis of Orion's performance in marine transportation infrastructure and complex concrete projects. Regular updates ensure you maintain current awareness of this vital industry player.
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.
Orion Group Holdings (NYSE: ORN) announced three new contracts worth $63 million, set to begin in Q3 2024.
The contracts include a $28 million project for Costco's new Port Saint Lucie Depot in Florida, a $15 million data center project in North Texas, and a $20 million marine construction project for Port Tampa Bay.
The Costco project involves constructing a 550,000 sq. ft. facility and nearly 3 million sq. ft. of concrete paving, marking Orion's 16th project with Costco. The data center project supports AI infrastructure, and the Port Tampa Bay project aims to enhance port operations with a new berth for bulk materials.
These contracts reflect Orion's role in significant infrastructure projects and its growing footprint in both the concrete and marine construction sectors.
Orion Group Holdings (NYSE: ORN) announced its inclusion in the Russell 3000® Index, effective July 1, 2024, following the annual reconstitution of Russell indexes. This inclusion highlights Orion's significant progress in 2023 and positions it in either the large-cap Russell 1000® Index or small-cap Russell 2000® Index. The announcement was made on May 28, 2024, as per the preliminary list released on May 24, 2024. CEO Travis Boone emphasized that this milestone would enhance investor awareness, institutional ownership, and stock liquidity. Notably, $10.5 trillion in assets are benchmarked against Russell's US indexes.
Orion Group Holdings (NYSE: ORN) has announced that its CEO, Travis Boone, and CFO, Scott Thanisch, will participate in several upcoming investor conferences. These include the B. Riley Securities 24th Annual Institutional Investor Conference on May 22, 2024, in Los Angeles, CA, the Craig-Hallum 21st Annual Institutional Investor Conference on May 29, 2024, in Minneapolis, MN, and the Stifel 2024 Cross Sector Insight Conference on June 5, 2024, in Boston, MA. This participation aims to engage with institutional investors and discuss the company's strategic direction and financial performance.
Orion Group Holdings, Inc. (NYSE: ORN) has secured a $80 million contract for the Port Everglades Bulkhead Replacement Project, enhancing the infrastructure of a major port. The project involves replacing aging bulkheads and is set to commence in June 2024, concluding in late 2026. Orion's expertise in marine construction and successful track record with Moss Construction led to this significant contract award. The company's commitment to safety, quality, and innovation reaffirms its position as a top player in the industry.
