Orion Group Holdings Inc
NYSE:ORN
Orion Group Holdings Inc
Orion Group Holdings, Inc. engages in the provision of specialty construction services in the building, industrial, and infrastructure sectors. The company is headquartered in Houston, Texas and currently employs 378 full-time employees. The company went IPO on 2007-12-20. The firm operates through two segments, Marine and Concrete. The Marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its specialty services include design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation, and repair. The Concrete segment provides turnkey concrete construction services, including pour and finish, site preparation, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The firm is also providing services both on and off the water in the continental United States, Alaska, Canada, and the Caribbean Basin.
Orion Group Holdings, Inc. engages in the provision of specialty construction services in the building, industrial, and infrastructure sectors. The company is headquartered in Houston, Texas and currently employs 378 full-time employees. The company went IPO on 2007-12-20. The firm operates through two segments, Marine and Concrete. The Marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its specialty services include design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation, and repair. The Concrete segment provides turnkey concrete construction services, including pour and finish, site preparation, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The firm is also providing services both on and off the water in the continental United States, Alaska, Canada, and the Caribbean Basin.
Strong Quarter: Orion delivered a robust Q3, with top and bottom line results, solid cash generation, and healthy bookings.
Financial Highlights: Q3 revenue was $225 million, with operating income of $5 million, adjusted EBITDA of $13 million, and adjusted EPS of $0.09—all in line with management estimates.
Guidance Raised: Management increased full-year 2025 guidance for revenue ($825–860 million), adjusted EBITDA ($44–46 million), and adjusted EPS ($0.18–0.22).
Segment Performance: Marine segment revenues and margins improved, while Concrete saw sequential growth but incurred an adjusted EBITDA loss due to non-recurring benefits last year.
Cash Position Boosted: The sale of the East West Jones property brought in $23.5 million, with proceeds intended to reduce debt.
Backlog & Pipeline: Backlog stands at $679 million, with a robust $18 billion opportunity pipeline and over $1 billion in bids submitted and awaiting award.
Strategic Progress: Orion expanded its bonding capacity by $400 million and secured key positions on long-term government contract vehicles.
