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) announced it will release its first quarter financial results for the period ending March 31, 2023, on May 8, 2023, after market close. The company will hold a conference call on May 9, 2023, at 8:00 a.m. Central Time to discuss these results with analysts and investors.
The conference call can be accessed by dialing 800-715-9871. An audio webcast will also be available live and archived on the company's Investor Relations page.
Orion Group Holdings specializes in construction services across infrastructure, industrial, and building sectors, operating in the U.S., Alaska, Canada, and the Caribbean.
Orion Group Holdings (NYSE: ORN) reported a strong fourth quarter and full-year financial results for 2022, showcasing a 20.9% revenue increase to $196.2 million. The operating loss improved to $3.5 million, down from $8.2 million. Net loss decreased to $4.9 million ($0.15/share). Adjusted EBITDA was $3.2 million, showing significant progress year-over-year. The company has a backlog of $448.8 million and announced over $582 million in new contracts, including a notable $448 million with the U.S. Navy. A three-point strategic plan aims to enhance profitability, strengthen business development, and invest in resources for sustainable growth.
Orion Group Holdings (NYSE: ORN) announced contract awards totaling $134 million, primarily in the concrete segment, with significant projects in Houston and Dallas. The concrete segment secured $100 million in contracts, including a $25 million contract for a 22-story building in Houston and a $12 million contract for a Dallas hospital. The marine segment landed its largest diving services contract in company history, worth $20 million, aiding the US Army Corps of Engineers. Other projects in the marine segment total $14 million. The company is optimistic about project wins for 2023.
Orion Group Holdings, Inc. (NYSE: ORN) announced changes in its board leadership, with Austin J. Shanfelter transitioning from Executive Chairman to independent Chairman of the Board effective March 2, 2023. Shanfelter has been a director since 2007 and played a crucial role in leadership transitions since September 2022. Under his guidance, the management team, led by CEO Travis Boone and CFO Scott Thanisch, aims to unlock asset value and capitalize on increasing public interest in infrastructure needs. The board now has eight members, seven of whom are independent, enhancing governance and strategic oversight.
Orion Group Holdings, Inc. (NYSE: ORN) will release its financial results for the fourth quarter and full year ending December 31, 2022, on March 14, 2023, after market close. A conference call is scheduled for March 15, 2023, at 10:00 a.m. Eastern Time to discuss these results. Orion operates in the specialty construction sector, servicing the infrastructure, industrial, and building sectors in the U.S., Canada, and the Caribbean. The company provides marine and concrete construction services, including dredging and turnkey concrete solutions, from its headquarters in Houston, Texas.
Orion Marine Group has successfully completed the 15-month rebuild of the Dredge Lavaca, enhancing its operational capabilities for dredging services along the Gulf Coast. The dredge is set to begin work for the Port of Corpus Christi in mid-November 2022. Key upgrades include improved safety features, reduced noise for crew comfort, and Tier III diesel-electric engines aimed at minimizing environmental impact. The project achieved over 65,000 manhours without lost-time incidents, showcasing a strong safety record.
Orion Group Holdings, Inc. (NYSE: ORN) announced a new contract valued at over $40 million for a 40-story residential building in Houston. Construction will start in Q1 2023 and is expected to finish by Q3 2024. The project includes a nine-story parking structure and 30 floors of living space. This contract is part of a series of awards totaling $128 million in Q3, which will be completed in 2023 and 2024. CEO Travis Boone emphasized that this success positions the company for a stronger future.
Orion Group Holdings, Inc. (NYSE: ORN) reported a net income of $0.2 million or $0.01 per diluted share for Q3 2022, an improvement from a net loss of $10.2 million in Q3 2021. Adjusted net income was $0.8 million ($0.02 per share). Contract revenues increased by 30.5% to $182.6 million, primarily driven by large job starts in the marine segment. The backlog as of September 30, 2022, was $548.6 million. The Company also announced a $10.5 million sale-leaseback agreement for its Port Lavaca property, set to close in December.
FAQ
What is the current stock price of Orion Group Holdings (ORN)?
What is the market cap of Orion Group Holdings (ORN)?
What services does Orion Group Holdings, Inc. provide?
Where is Orion Group Holdings headquartered?
In which regions does Orion Group Holdings operate?
What recent projects has Orion Group Holdings completed?
What was the company’s financial performance in the fourth quarter of 2023?
What is the company's backlog as of December 31, 2023?
What recognition has Orion Group Holdings received for its safety practices?
How does Orion Group Holdings support its long-term growth objectives?
What is the significance of Orion Group Holdings' inclusion in the Russell 3000® Index?
What are the future growth prospects for Orion Group Holdings?
