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.
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Orion Group Holdings (NYSE: ORN) announced it will release its first quarter financial results for the period ending March 31, 2023, on May 8, 2023, after market close. The company will hold a conference call on May 9, 2023, at 8:00 a.m. Central Time to discuss these results with analysts and investors.
The conference call can be accessed by dialing 800-715-9871. An audio webcast will also be available live and archived on the company's Investor Relations page.
Orion Group Holdings specializes in construction services across infrastructure, industrial, and building sectors, operating in the U.S., Alaska, Canada, and the Caribbean.
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.