Orion Group Hldgs Inc Stock Price, News & Analysis

Orion Group Holdings, Inc. (NYSE: ORN) will release its financial results for the fourth quarter and full year ending December 31, 2022, on March 14, 2023, after market close. A conference call is scheduled for March 15, 2023, at 10:00 a.m. Eastern Time to discuss these results. Orion operates in the specialty construction sector, servicing the infrastructure, industrial, and building sectors in the U.S., Canada, and the Caribbean. The company provides marine and concrete construction services, including dredging and turnkey concrete solutions, from its headquarters in Houston, Texas.

Orion Marine Group has successfully completed the 15-month rebuild of the Dredge Lavaca, enhancing its operational capabilities for dredging services along the Gulf Coast. The dredge is set to begin work for the Port of Corpus Christi in mid-November 2022. Key upgrades include improved safety features, reduced noise for crew comfort, and Tier III diesel-electric engines aimed at minimizing environmental impact. The project achieved over 65,000 manhours without lost-time incidents, showcasing a strong safety record.

Orion Group Holdings, Inc. (NYSE: ORN) announced a new contract valued at over $40 million for a 40-story residential building in Houston. Construction will start in Q1 2023 and is expected to finish by Q3 2024. The project includes a nine-story parking structure and 30 floors of living space. This contract is part of a series of awards totaling $128 million in Q3, which will be completed in 2023 and 2024. CEO Travis Boone emphasized that this success positions the company for a stronger future.

Orion Group Holdings, Inc. (NYSE: ORN) reported a net income of $0.2 million or $0.01 per diluted share for Q3 2022, an improvement from a net loss of $10.2 million in Q3 2021. Adjusted net income was $0.8 million ($0.02 per share). Contract revenues increased by 30.5% to $182.6 million, primarily driven by large job starts in the marine segment. The backlog as of September 30, 2022, was $548.6 million. The Company also announced a $10.5 million sale-leaseback agreement for its Port Lavaca property, set to close in December.

Orion Group Holdings, Inc. (NYSE: ORN) announced its financial results for Q3 2022 will be released on October 26, 2022, after market close. The management will host a conference call on October 27, 2022, at 10:00 a.m. ET to discuss these results. Investors can access the call by dialing (800) 715-9871 or (646) 307-1963 or listen online at their provided link. Orion Group, based in Houston, specializes in construction services across infrastructure and industrial sectors, including marine and concrete services.

Orion Group Holdings, Inc. has appointed Scott Thanisch as the new Executive Vice President and Chief Financial Officer, effective September 12, 2022. Thanisch brings extensive experience in corporate finance and a strong track record from his previous roles in the construction industry. His appointment is expected to align with the company's growth strategy alongside the new President and CEO, Travis Boone. Both executives aim to enhance performance and create value for shareholders, leveraging Orion’s capabilities in the marine infrastructure and construction sectors.

Orion Group Holdings, Inc. (NYSE: ORN) announced the appointment of Travis Boone as its new President and CEO, effective September 12, 2022. Boone, a seasoned executive with extensive experience in construction, previously held leadership roles at AECOM and has a strong background in engineering. Austin J. Shanfelter will transition from Interim CEO to Executive Chairman. Boone's leadership is expected to enhance Orion's performance and unveil growth opportunities, leveraging his proven track record in the industry.

Orion Group Holdings reported a net loss of $3.1 million ($0.10 diluted loss per share) for Q2 2022, down from a profit of $3.5 million in Q2 2021. The adjusted net loss stood at $0.9 million ($0.03 diluted loss per share). Operating loss was $2.8 million, compared to an operating income of $5.6 million a year prior. Contract revenues increased by 33.4% to $194.6 million, mainly driven by growth in the marine and concrete segments. Backlog at the end of Q2 was $603.2 million with a book-to-bill ratio of 1.00x, highlighting a focus on margin improvements and liquidity.

Orion Group Holdings, Inc. (NYSE: ORN) will release its financial results for Q2 2022 on July 27, 2022, after market close. A conference call is scheduled for July 28, 2022, at 10:00 a.m. ET to discuss these results. Investors can listen live by calling 800-715-9871 (US & Canada) or via the Internet. Orion specializes in specialty construction across infrastructure, industrial, and building sectors, providing marine and concrete services in the US, Canada, and the Caribbean. The company is headquartered in Houston, Texas.