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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) 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.
Orion Group Holdings (NYSE: ORN) announced that Executive VP & CFO Robert Tabb and VP of Investor Relations Francis Okoniewski will present at the Stifel Cross Sector Insight Conference on June 8, 2021, at 10:40 am ET. Management will conduct one-on-one meetings throughout the day, with scheduling through Stifel institutional sales representatives or Fred Buonocore. A live webcast of the presentation will be accessible on the Company’s website, with an archived recording available later in the investor relations section.
Orion Group Holdings (NYSE: ORN) has announced three new contracts totaling approximately $17 million for its Concrete segment. Highlights include a $5.5 million contract for the Royal Caribbean Cruise Terminal in Galveston, expected to start in Q2, and a $6.5 million project in San Antonio, set to begin in Q3. A $5.1 million contract for a new business park near Dallas-Fort Worth is also part of this announcement, with work commencing in Q3. The company emphasizes these awards showcase its team's quality and professionalism.
Orion Group Holdings (NYSE: ORN) has secured two contracts totaling $38 million. The first contract, worth $28.5 million, involves demolition and construction for a new aquatic habitat in Puget Sound, aimed at benefiting juvenile salmon, starting in Q2 2023. The second contract, valued at approximately $9 million, is for a private marine facility in Tampa, Florida, also commencing in Q2 2023 and expected to complete by mid-2022. These projects reflect the Company's growth potential as the economy recovers.
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