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) announced the resignation of Robert L. Tabb as Executive Vice President and Chief Financial Officer, effective October 29, 2021. Tabb, who joined the company in 2018 and served as CFO since March 2019, is leaving for a non-competitive opportunity. The senior management team will oversee his responsibilities during the search for a new CFO. CEO Mark Stauffer praised Tabb's contributions, highlighting his role in building a strong team and positioning Orion for future success.
Orion Group Holdings (NYSE: ORN) announced two significant contract awards in its Marine segment, totaling nearly $200 million. The first is a $125 million contract from the Florida Department of Transportation for the replacement of the Indian River Bridge, expected to start in Q4 2021 and finish in Q4 2024. The second is a $67 million contract for the Berth 6 Expansion Project at the Port of Port Arthur, Texas, set to commence in Q4 2021 and complete in Q3 2024. These projects enhance Orion's backlog and reinforce its role in U.S. infrastructure development.
Orion Group Holdings (NYSE: ORN) has secured three contracts totaling approximately $22 million for dredging services from the US Army Corps of Engineers (USACE). These contracts involve maintenance work on Gulf coast waterways, with potential increases valued at up to $19 million. Two contracts from the Galveston District total $18.3 million for the Gulf Intracoastal Waterway and Sabine Neches Waterway. A third contract worth $3.5 million is from the Jacksonville District for Tampa Harbor. Work is expected to begin in Q4 2021.
Orion Group Holdings, Inc. (NYSE: ORN) has secured six contract awards totaling approximately
Orion Group Holdings (NYSE: ORN) announced contract awards totaling approximately $35 million. The Marine segment secured four contracts, notably in the Gulf Coast and Alaska, with three contracts in Texas and Louisiana valued at $27.5 million for marine infrastructure development. The projects commence in Q4 2021 and are expected to complete by Q3 2022. Additionally, a $7.8 million contract from the US Department of Transportation involves bridge replacement in Alaska's Denali National Park and will begin in Q1 2022, concluding in late 2023.
Orion Group Holdings, Inc. (NYSE: ORN) announces participation in the D.A. Davidson Diversified Industrials and Services Virtual Conference on September 22, 2021. The company's Executive VP & CFO
Orion Group Holdings (NYSE: ORN) reported a net income of $3.5 million for Q2 2021, with a diluted EPS of $0.11, up from $2.0 million in Q2 2020. Operating income increased to $5.6 million despite reduced contract revenues of $145.9 million, down 20.6% year-over-year due to decreased project activity. Adjusted EBITDA was $7.4 million, and backlog stood at $394.4 million. The company sold its Tampa property, enhancing liquidity. Heavy rain affected production, especially in the concrete segment, but management remains optimistic about bid opportunities in recovering markets.
Orion Group Holdings (NYSE: ORN) announced its participation in the Jefferies Virtual Industrials Conference on August 4, 2021, at 1:00 PM ET. CEO Mark Stauffer, CFO Robert Tabb, and VP of Investor Relations Francis Okoniewski will present. One-on-one meetings are available on August 3-4 for interested parties. A live webcast of the presentation can be accessed from the Company’s investor relations website, with an archived recording available afterward. Orion is a specialty construction company serving the infrastructure, industrial, and building sectors across North America and the Caribbean.
Orion Group Holdings (NYSE: ORN) will release its financial results for Q2 2021 on July 28, 2021, after market close. A conference call to discuss the results will take place on July 29, 2021, at 10:00 a.m. ET. Investors can listen by dialing 201-493-6739 or via the company's website. Orion operates in the construction sector, providing marine and concrete services across the U.S., Alaska, Canada, and the Caribbean, emphasizing infrastructure, industrial, and building projects.
Orion Group Holdings (NYSE: ORN) has successfully sold its Tampa property on West Tyson Avenue, generating net proceeds of approximately $22 million. This divestment aligns with the company's strategy to monetize real estate assets and will provide a gain on the sale, enhancing liquidity and strengthening the balance sheet. CEO Mark Stauffer emphasized the importance of this sale in supporting ongoing investments in a new ERP system and the upgrade of a dredging vessel. Orion continues to explore capital allocation options to execute its strategic plan.
FAQ
What is the current stock price of Orion Group Hldgs (ORN)?
What is the market cap of Orion Group Hldgs (ORN)?
What industries does Orion Group Holdings Inc serve?
What are the two main business segments of the company?
What types of projects are handled by the marine construction segment?
How does Orion support large-scale concrete construction?
What factors contribute to Orion's industry reputation?
How does Orion ensure project quality and safety?
