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.
Orion Group Holdings, Inc. reports developments in specialty construction for infrastructure, industrial and building markets. The company operates through a Marine segment that performs marine construction, dredging, marine pipeline work, marine environmental structures and port, channel and waterway services, and a Concrete segment that provides turnkey concrete construction services including place and finish, site preparation, layout, forming and rebar placement.
Recurring Orion news includes quarterly results, guidance, backlog and contract-award updates, including public infrastructure and coastal marine projects. Company updates also cover concrete demand in large commercial, structural and data center markets, marine capability expansion following the completed J.E. McAmis acquisition, investor presentations, credit and capital actions, and board and governance changes.
Orion Group Holdings (NYSE: ORN) reported a first-quarter 2021 net income of $0.9 million ($0.03 EPS), down from $2.7 million ($0.09 EPS) in Q1 2020. The operating income decreased to $2.1 million compared to $4.4 million last year. Factors influencing results included a severe winter storm that halted Texas operations, resulting in an estimated $8.2 million revenue loss. Adjusted EBITDA for Q1 2021 was $9.5 million, down from $12.2 million. Backlog fell to $364.8 million, with a book-to-bill ratio of 0.51x. The company maintains a strong liquidity position and positive outlook with substantial bidding opportunities.
Orion Group Holdings (NYSE: ORN) announced it will release its financial results for Q1 2021 on April 28, 2021, after market close. A conference call is scheduled for April 29, 2021, at 10:00 a.m. ET to discuss these results. Investors can participate by calling 201-493-6739 or by visiting www.oriongroupholdingsinc.com for a live stream. The company, based in Houston, Texas, specializes in construction services across marine and concrete segments, catering to various sectors in the U.S., Canada, and the Caribbean.
Orion Group Holdings reported a net income of $3.7 million for Q4 2020, translating to $0.12 diluted EPS, compared to $0.2 million in Q4 2019. Operating income rose to $5.1 million from $2.7 million, driven by improved production efficiency. Adjusted EBITDA increased to $12.6 million, up 9.2% year-over-year. Backlog was $439.5 million, down from $558.5 million a year prior, with a book-to-bill ratio of 1.06x. Despite challenges from COVID-19, the company expressed confidence in future bidding opportunities and strong liquidity.
Orion Group Holdings (NYSE: ORN) announced its fourth-quarter financial results for the period ending December 31, 2020, set to be released on February 24, 2021, post-market close. Following this, a conference call will occur on February 25, 2021, at 10:00 a.m. ET to discuss the results. Investors can join the call by dialing 201-493-6739 or via the company's website. Orion specializes in construction services across marine and concrete segments, operating throughout the U.S., Canada, and the Caribbean.
Orion Group Holdings (NYSE: ORN) announced contract awards totaling approximately $27 million. This includes an $11.6 million contract for a tilt-wall distribution center in Central Texas and five additional contracts worth $15.1 million for various tilt wall and paving projects in Dallas/Fort Worth and Houston. Construction will commence in late Q1 to early Q2 2021 and is expected to be completed by year-end. The CEO highlighted the strong start of the year and plans to build on this momentum by delivering quality services.
Orion Group Holdings (NYSE: ORN) announced that CEO Mark Stauffer and VP of Investor Relations Francis Okoniewski will present at the Sidoti Virtual Small Cap Conference on January 13, 2021, from 10:45 to 11:15 am ET. Investors can schedule one-on-one meetings through Sidoti representatives. A live webcast of the presentation will be accessible via the company's website, with an archived recording available afterward. Orion specializes in marine and concrete construction services across various sectors in the U.S. and internationally.
Orion Group Holdings (NYSE: ORN) has announced new contract awards totaling approximately $20 million. The Marine segment secured two contracts in Florida, the first valued at $10.7 million for bridge replacement in St. Petersburg, projected to start in Q1 2021 and take about 10 months. The second contract, worth $10 million, involves replacing a quay wall at Naval Station Mayport, set to begin immediately and end by the year's close. CEO Mark Stauffer emphasized that these projects enhance the company's backlog and align with their expertise.
Orion Group Holdings, Inc. (NYSE: ORN) announced a change in its Board Chair position, effective December 31, 2020. Richard Daerr will retire after over 13.5 years but will remain on the Board. Austin J. Shanfelter has been elected as the new Chair, effective January 1, 2021. Shanfelter, a Board member since 2007, emphasized his commitment to delivering value to customers and shareholders. This transition is part of Orion's Board refreshment process, signaling continued strategic leadership.
Orion Group Holdings (NYSE: ORN) has secured contract awards totaling approximately $52 million, focusing on concrete services for large distribution facilities in Texas. The projects include contracts valued at $21 million, $17 million, and $14 million, with work set to commence before year-end and completion expected in the first half of 2021. CEO Mark Stauffer affirmed the company's strong reputation in concrete construction, highlighting the significance of these projects.
Orion Group Holdings (NYSE: ORN) reported a third-quarter 2020 net income of $11.8 million ($0.39 per diluted share), up from $4.0 million ($0.14) in Q3 2019. Contract revenues totaled $189.4 million, a 5.0% decline year-over-year. Operating income improved to $13.1 million, significantly higher than $6.1 million in the prior year. Adjusted EBITDA reached $17.0 million. The company's backlog decreased 30.9% to $428.8 million. An incident involving the dredge Waymon Boyd resulted in five fatalities and $2.9 million in insurance recoveries. The NTSB is investigating the incident.