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.
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, 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.
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.
FAQ
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