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 (ORN) provides essential marine infrastructure and turnkey concrete solutions across North America. This news hub offers investors and industry professionals centralized access to official updates and analysis on the company's operations.
Track critical developments including project awards, financial results, leadership changes, and strategic initiatives. Our curated collection features press releases covering marine construction milestones, concrete segment contracts, safety achievements, and operational expansions.
Key updates include coastal protection projects, port modernization efforts, environmental compliance developments, and commercial construction partnerships. The resource serves as a reliable reference for understanding ORN's market position and execution capabilities in specialty construction sectors.
Bookmark this page for streamlined access to verified information supporting informed analysis of Orion's performance in marine transportation infrastructure and complex concrete projects. Regular updates ensure you maintain current awareness of this vital industry player.
Orion Group Holdings (NYSE: ORN) reported a strong fourth quarter and full-year financial results for 2022, showcasing a 20.9% revenue increase to $196.2 million. The operating loss improved to $3.5 million, down from $8.2 million. Net loss decreased to $4.9 million ($0.15/share). Adjusted EBITDA was $3.2 million, showing significant progress year-over-year. The company has a backlog of $448.8 million and announced over $582 million in new contracts, including a notable $448 million with the U.S. Navy. A three-point strategic plan aims to enhance profitability, strengthen business development, and invest in resources for sustainable growth.
Orion Group Holdings (NYSE: ORN) announced contract awards totaling $134 million, primarily in the concrete segment, with significant projects in Houston and Dallas. The concrete segment secured $100 million in contracts, including a $25 million contract for a 22-story building in Houston and a $12 million contract for a Dallas hospital. The marine segment landed its largest diving services contract in company history, worth $20 million, aiding the US Army Corps of Engineers. Other projects in the marine segment total $14 million. The company is optimistic about project wins for 2023.
Orion Group Holdings, Inc. (NYSE: ORN) announced changes in its board leadership, with Austin J. Shanfelter transitioning from Executive Chairman to independent Chairman of the Board effective March 2, 2023. Shanfelter has been a director since 2007 and played a crucial role in leadership transitions since September 2022. Under his guidance, the management team, led by CEO Travis Boone and CFO Scott Thanisch, aims to unlock asset value and capitalize on increasing public interest in infrastructure needs. The board now has eight members, seven of whom are independent, enhancing governance and strategic oversight.
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.
FAQ
What is the current stock price of Orion Group Hldgs (ORN)?
What is the market cap of Orion Group Hldgs (ORN)?
