Orion Group Holdings Announces Over $120 Million in Contract Wins

Rhea-AI Summary

Orion Group Holdings (NYSE:ORN) has secured new contract awards totaling over $120 million, split evenly between its Marine and Concrete segments. The Marine segment wins include maintenance dredging for the U.S. Army Corp of Engineers, marine transportation facility repairs, and crane trestle installation. The Concrete segment secured contracts for multiple data centers, manufacturing, and healthcare projects.

Additionally, the company will participate in D.A. Davidson's 24th Annual Diversified Industrials & Services Conference on September 18-19, 2025, in Nashville, with CEO Travis Boone presenting in a fireside chat on September 18 at 3:30 p.m. Central Time.

Positive

• Secured over $120 million in new contract awards
• Diversified contract wins across both Marine and Concrete segments
• Strong demand in data center construction continues
• Expanding presence in manufacturing and healthcare sectors

Negative

• None.

Insights

Financial Analyst

Orion secures $120M in diverse contracts across Marine and Concrete segments, signaling strong operational momentum and industry demand.

The $120 million in new contract awards represents a significant win for Orion Group Holdings, with the amount evenly distributed between their Marine and Concrete business segments. This balanced contract distribution indicates healthy demand across multiple markets, reducing single-sector dependency risk.

In the Marine segment, the diversity of projects—including maintenance dredging for the U.S. Army Corps of Engineers, marine transportation facility repairs, and crane trestle installation—demonstrates Orion's ability to secure varied government and commercial contracts. These projects typically offer stable margins and improved cash flow visibility, particularly the government contracts which tend to have more predictable payment schedules.

The Concrete segment's continued success in data center work is particularly noteworthy given the explosive growth in this sector driven by AI infrastructure expansion. The additional wins in manufacturing and healthcare facilities suggest Orion is successfully diversifying beyond data centers, creating multiple growth avenues while reducing concentration risk.

While the press release doesn't specify the timeline for revenue recognition from these contracts, the substantial backlog enhancement provides improved revenue visibility for upcoming quarters. The even distribution between segments also helps maintain operational efficiency as resources can be allocated consistently across the business.

For a company that reported $665.4 million in revenue for full-year 2023 (based on publicly available information), this $120 million in new contracts represents a meaningful addition to their project pipeline, potentially accounting for approximately 18% of annual revenue.

Orion to Present at DA Davidson’s 24th Annual Diversified Industrials & Services Conference September 18-19, 2025

HOUSTON, Sept. 15, 2025 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (“Orion” or the “Company”), a leading specialty construction company, today announced new contract awards with a total value of over $120 million. The Company also announced that it will participate in D.A. Davidson’s 24th Annual Diversified Industrials & Services Conference on September 18-19, 2025.

Management Commentary

“I’m proud of how our team continues to raise the bar, executing complex projects with predictable excellence. Our unwavering commitment to safety, quality, and timely delivery is not only earning the trust of our clients, but also securing Orion’s position as the specialty construction provider of choice,” said Travis Boone, Chief Executive Officer of Orion Group Holdings, Inc. “In Marine, we continue to deepen long-standing relationships with our clients by winning additional projects. In our Concrete business, demand for data center work remains strong, while new concrete awards in manufacturing and healthcare reflect broader market opportunities for our services.”

Contract Wins

New contract awards were evenly balanced between Orion’s Marine and Concrete segments. Recent Marine awards included maintenance dredging for the U.S. Army Corp of Engineers, repair work on a marine transportation facility, and installation of a crane trestle for a major transportation project. Recent Concrete awards included multiple data centers and several manufacturing and healthcare projects.

DA Davidson Conference

Orion management will present at D.A. Davidson’s 24th Annual Diversified Industrials & Services Conference, taking place September 18-19, 2025, in Nashville, Tennessee. Management will participate in a fireside chat on Thursday, September 18 at 3:30 p.m. Central Time. The webcast of the fireside chat will be available and archived on the Company’s investor relations website at www.oriongroupholdingsinc.com.

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company's marine segment provides construction and dredging services related to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. https://www.oriongroupholdingsinc.com.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, guidance, outlook, assumptions, or goals. In particular, statements regarding our pipeline of opportunities, financial guidance and future operations or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future operating results or the future generation of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any estimates, guidance, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, estimated project start dates, ramp-up of contract activity and contract options, which may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints, and any potential contract options which may or may not be awarded in the future, and are at the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. Considering these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law.

Please refer to the Company's 2024 Annual Report on Form 10-K, filed on March 5, 2025 which is available on its website at www.oriongroupholdingsinc.com or at the SEC's website at www.sec.gov, and filings and press releases subsequent to such Annual Report on Form 10-K for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Contact:

Margaret Boyce
Orion Group Holdings, Inc.
Mboyce@orn.net
713-852-6500

Source: Orion Group Holdings, Inc.

FAQ

How much is the total value of Orion Group Holdings' (ORN) new contract wins in September 2025?

Orion Group Holdings secured new contract awards totaling over $120 million, evenly distributed between its Marine and Concrete segments.

What types of projects did Orion Group Holdings (ORN) win in its Marine segment?

In the Marine segment, Orion won contracts for maintenance dredging for the U.S. Army Corp of Engineers, repair work on a marine transportation facility, and installation of a crane trestle for a major transportation project.

What sectors are covered in Orion's new Concrete segment contracts?

Orion's Concrete segment secured contracts for multiple data centers, manufacturing facilities, and healthcare projects.

When and where will Orion Group Holdings (ORN) present at the DA Davidson Conference?

Orion will present at the conference on September 18, 2025, at 3:30 p.m. Central Time in Nashville, Tennessee, participating in a fireside chat.

What is the current business outlook for Orion Group Holdings (ORN)?

According to CEO Travis Boone, the company is successfully executing complex projects and seeing strong demand for data center work, while expanding opportunities in manufacturing and healthcare sectors.