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, Inc. (NYSE: ORN) announced its financial results for Q3 2022 will be released on October 26, 2022, after market close. The management will host a conference call on October 27, 2022, at 10:00 a.m. ET to discuss these results. Investors can access the call by dialing (800) 715-9871 or (646) 307-1963 or listen online at their provided link. Orion Group, based in Houston, specializes in construction services across infrastructure and industrial sectors, including marine and concrete services.
Orion Group Holdings, Inc. has appointed Scott Thanisch as the new Executive Vice President and Chief Financial Officer, effective September 12, 2022. Thanisch brings extensive experience in corporate finance and a strong track record from his previous roles in the construction industry. His appointment is expected to align with the company's growth strategy alongside the new President and CEO, Travis Boone. Both executives aim to enhance performance and create value for shareholders, leveraging Orion’s capabilities in the marine infrastructure and construction sectors.
Orion Group Holdings, Inc. (NYSE: ORN) announced the appointment of Travis Boone as its new President and CEO, effective September 12, 2022. Boone, a seasoned executive with extensive experience in construction, previously held leadership roles at AECOM and has a strong background in engineering. Austin J. Shanfelter will transition from Interim CEO to Executive Chairman. Boone's leadership is expected to enhance Orion's performance and unveil growth opportunities, leveraging his proven track record in the industry.
Orion Group Holdings reported a net loss of $3.1 million ($0.10 diluted loss per share) for Q2 2022, down from a profit of $3.5 million in Q2 2021. The adjusted net loss stood at $0.9 million ($0.03 diluted loss per share). Operating loss was $2.8 million, compared to an operating income of $5.6 million a year prior. Contract revenues increased by 33.4% to $194.6 million, mainly driven by growth in the marine and concrete segments. Backlog at the end of Q2 was $603.2 million with a book-to-bill ratio of 1.00x, highlighting a focus on margin improvements and liquidity.
Orion Group Holdings, Inc. (NYSE: ORN) will release its financial results for Q2 2022 on July 27, 2022, after market close. A conference call is scheduled for July 28, 2022, at 10:00 a.m. ET to discuss these results. Investors can listen live by calling 800-715-9871 (US & Canada) or via the Internet. Orion specializes in specialty construction across infrastructure, industrial, and building sectors, providing marine and concrete services in the US, Canada, and the Caribbean. The company is headquartered in Houston, Texas.
Orion Group Holdings reported a net loss of $4.9 million ($0.16 diluted loss per share) for Q1 2022, a significant decline from a net income of $0.9 million in Q1 2021. The operating loss was $2.9 million, down from operating income of $2.1 million last year. Contract revenues rose 14.1% to $174.9 million, primarily due to large marine segment projects. However, gross profit decreased to $12.8 million from $15.5 million, reflecting project difficulties. The backlog reached $604.1 million, a 66% increase year-over-year, with successful bids totaling $112 million post-quarter.
Orion Group Holdings, Inc. (NYSE: ORN) announced it will release its financial results for Q1 2022 on April 27, 2022, after the market closes. A conference call to discuss the results will take place on April 28, 2022, at 10:00 a.m. ET. Investors can join by calling 201-493-6739 or via the internet at the official website. Orion Group, headquartered in Houston, specializes in construction services for infrastructure and industrial sectors, with operations in the U.S., Canada, and the Caribbean.
Orion Group Holdings announces the resignation of President and CEO
Orion Group Holdings, Inc. (NYSE: ORN) reported a net loss of $8.8 million ($0.29 loss per share) for Q4 2021, down from a net income of $3.7 million in Q4 2020. The operating loss was $8.2 million, contrasting with a $5.1 million operating income in the prior year. The EBITDA for Q4 2021 was $(1.9) million, a significant drop from $11.7 million in Q4 2020. Despite these challenges, backlog increased to $590 million, up 34% year-over-year, demonstrating a growing pipeline fueled by a 27% increase in awarded work. The company expects revenue growth in 2022, leveraging the Infrastructure Investment and Jobs Act.
Orion Group Holdings, Inc. (NYSE: ORN) will announce its financial results for Q4 and the full year ended December 31, 2021, on March 2, 2022, following market closure. A conference call to discuss these results is scheduled for March 3, 2022, at 10:00 a.m. ET. The company operates in specialty construction, serving various sectors including infrastructure and marine. Interested parties can listen live via phone or online. A replay will be available for 30 days post-call.
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