Orion Group Holdings Awarded $86.3 Million U.S. Army Corps of Engineers Project

Rhea-AI Summary

Orion Group Holdings (NYSE:ORN) was awarded an $86.3 million contract by the U.S. Army Corps of Engineers to build breakwaters and perform beach nourishment at the mouth of the Colorado River in Texas.

The scope includes placing approximately one million cubic yards of beach-quality dredged material to stabilize shoreline erosion and restore public ocean access. The project is slated to begin in the first quarter of 2026. The award highlights Orion's experience in coastal and marine infrastructure and represents a multi-month construction engagement with a federal agency.

Positive

• $86.3 million USACE contract awarded
• Placement of ~1,000,000 cubic yards of dredged material
• Work to begin in Q1 2026

Negative

• None.

Key Figures

USACE project value $86.3 million Contract award with U.S. Army Corps of Engineers

Dredged material volume approximately one million cubic yards Beach-quality dredged materials for shoreline replenishment

Project start timing first quarter of 2026 Expected start of Texas shoreline protection project

Market Reality Check

$10.12 Last Close

Volume Volume 332,582 vs 20-day average 235,432 (relative volume 1.41), indicating elevated activity ahead of this award. normal

Technical Shares at $9.99 are trading above the 200-day MA of $8.25, reflecting an established uptrend before this news.

Peers on Argus

Peers show mixed moves: BBCP +2.37%, MTRX +2.38%, BWMN +1.74%, GLDD +, while SLND is down 6.95%. With no peers in the momentum scanner and no same-day peer headlines, this U.S. Army Corps project award appears more company-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 29	Refinancing / credit facility	Positive	-1.9%	Closed new five‑year $120M senior credit facility to support growth strategy.
Dec 08	Investor conference	Neutral	+2.4%	Announced participation in Roth Deer Valley event for investor meetings.
Nov 06	Investor conference	Neutral	-6.5%	Planned presentation at Craig‑Hallum Alpha Select conference for company updates.
Oct 28	Earnings / guidance	Positive	-0.5%	Reported Q3 2025 results and raised full‑year 2025 revenue and EPS guidance.
Oct 16	Earnings date notice	Neutral	-5.7%	Set dates for Q3 2025 earnings release and investor conference call.

Pattern Detected

Positive fundamental milestones (earnings beat/guidance raise, refinancing) have not consistently produced positive next-day price reactions, while neutral conference-related news has sometimes seen larger swings.

Recent Company History

Over the last few months, Orion reported Q3 2025 results with revenue of $225.1M, net income of $3.3M, adjusted EBITDA of $13.1M, and raised full‑year 2025 guidance to revenue of $825M–$860M and adjusted EPS of $0.18–$0.22. It also closed a new $120M credit facility extending maturity to Dec 2030. Other updates focused on investor conferences. Against this backdrop, today’s $86.3M USACE project adds to Orion’s book of complex marine and coastal work.

Market Pulse Summary

This announcement highlights a major $86.3M U.S. Army Corps contract for shoreline protection and beach nourishment in Texas, expected to start in the first quarter of 2026. It builds on Orion’s recent backdrop of raised 2025 guidance and a new $120M credit facility. Investors may watch how this project contributes to backlog utilization, revenue timing, and margin performance relative to prior quarters and guidance.

Key Terms

breakwaters technical

"Orion will construct new breakwaters and replenish shorelines..."

Breakwaters are hardened structures placed offshore to absorb and redirect the force of waves, protecting coastlines, harbors and marine facilities; they can be built from rock, concrete or floating elements. For investors, they matter because they reduce damage and erosion, lower insurance and maintenance costs, and can be large capital projects that affect the value and operational risk of ports, waterfront property and companies involved in construction or marine services—think of them as a protective shield for coastal assets.

dredged materials technical

"with approximately one million cubic yards of beach-quality dredged materials..."

Dredged materials are the mud, sand, silt and debris scooped from the bottoms of harbors, rivers, and channels during dredging to keep waterways navigable. Like scooping the muck out of a clogged gutter and deciding where to put it, these materials can be clean or contaminated, and handling, testing and disposal are governed by environmental rules; for investors this affects project costs, regulatory risk, timelines and potential liabilities.

beach nourishment technical

"The beach nourishment component will rebuild a valuable public access feature..."

Beach nourishment is the process of adding sand or sediment to an eroding shoreline to widen and raise the beach, similar to topping up soil in a garden to stop plants from washing away. Investors watch it because it can protect coastal property values and local tourism revenue, but it requires significant upfront cost, ongoing maintenance and permits that affect government budgets and the prospects of companies involved in the work.

AI-generated analysis. Not financial advice.

HOUSTON, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (“Orion” or the “Company”), a leading specialty construction company, today announced it was awarded an $86.3 million project with the U.S. Army Corps of Engineers (USACE).

“We are proud to be part of one of the largest shoreline protection and beneficial use infrastructure projects in our home state of Texas. This award reflects our team’s deep expertise and proven track record of delivering outstanding work on complex coastal and marine projects that strengthen resilience and create lasting value,” said Travis Boone, President and Chief Executive Officer of Orion Group Holdings, Inc.

As part of this project, Orion will construct new breakwaters and replenish shorelines with approximately one million cubic yards of beach-quality dredged materials along the Texas coastline at the mouth of the Colorado River. These efforts are intended to stabilize the shoreline, slowing the impacts of the significant erosive forces in the area and preventing additional land loss. The beach nourishment component will rebuild a valuable public access feature, allowing the public to once again have ocean access and a place to recreate in this area. The project is expected to begin in the first quarter of 2026.

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

FAQ

What is the value of the USACE contract awarded to Orion (ORN) on January 5, 2026?

Orion was awarded a $86.3 million U.S. Army Corps of Engineers contract.

When will the Orion (ORN) Colorado River shoreline project start?

The project is expected to begin in the first quarter of 2026.

How much beach-quality material will Orion (ORN) place for the Texas nourishment project?

Orion will place approximately one million cubic yards of dredged material.

What work will Orion (ORN) perform under the $86.3M USACE award?

Orion will construct new breakwaters and perform beach nourishment at the Colorado River mouth.

How does the Orion (ORN) project affect public access on the Texas coastline?

The beach nourishment component is intended to rebuild public ocean access and recreational beach areas.

Who awarded Orion (ORN) the $86.3M shoreline project?

The contract was awarded by the U.S. Army Corps of Engineers.