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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, 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.
Orion Group Holdings reported a net loss of $4.9 million ($0.16 diluted loss per share) for Q1 2022, a significant decline from a net income of $0.9 million in Q1 2021. The operating loss was $2.9 million, down from operating income of $2.1 million last year. Contract revenues rose 14.1% to $174.9 million, primarily due to large marine segment projects. However, gross profit decreased to $12.8 million from $15.5 million, reflecting project difficulties. The backlog reached $604.1 million, a 66% increase year-over-year, with successful bids totaling $112 million post-quarter.
Orion Group Holdings, Inc. (NYSE: ORN) announced it will release its financial results for Q1 2022 on April 27, 2022, after the market closes. A conference call to discuss the results will take place on April 28, 2022, at 10:00 a.m. ET. Investors can join by calling 201-493-6739 or via the internet at the official website. Orion Group, headquartered in Houston, specializes in construction services for infrastructure and industrial sectors, with operations in the U.S., Canada, and the Caribbean.
Orion Group Holdings announces the resignation of President and CEO Mark R. Stauffer, who will now serve as an advisor. Austin J. Shanfelter has been appointed interim CEO, with Richard L. Daerr, Jr. becoming Lead Independent Director. The company confirms its financial guidance for 2022, projecting adjusted EBITDA in the mid-$30 million range. Orion emphasizes a focus on strategic positioning in the specialty construction sector, aiming to maintain momentum with ongoing operations.
Orion Group Holdings, Inc. (NYSE: ORN) reported a net loss of $8.8 million ($0.29 loss per share) for Q4 2021, down from a net income of $3.7 million in Q4 2020. The operating loss was $8.2 million, contrasting with a $5.1 million operating income in the prior year. The EBITDA for Q4 2021 was $(1.9) million, a significant drop from $11.7 million in Q4 2020. Despite these challenges, backlog increased to $590 million, up 34% year-over-year, demonstrating a growing pipeline fueled by a 27% increase in awarded work. The company expects revenue growth in 2022, leveraging the Infrastructure Investment and Jobs Act.
Orion Group Holdings, Inc. (NYSE: ORN) will announce its financial results for Q4 and the full year ended December 31, 2021, on March 2, 2022, following market closure. A conference call to discuss these results is scheduled for March 3, 2022, at 10:00 a.m. ET. The company operates in specialty construction, serving various sectors including infrastructure and marine. Interested parties can listen live via phone or online. A replay will be available for 30 days post-call.
Orion Group Holdings, Inc. announces the appointment of Quentin P. Smith, Jr. to its Board of Directors, effective January 21, 2022. Mr. Smith brings extensive experience in strategic planning and governance. This change follows the retirement of Richard L. Daerr, Jr., who has served on the Board since 2007. Daerr's retirement is effective May 20, 2022. The Board will expand temporarily to eight Directors, with Mr. Smith expected to stand for re-election at the 2022 annual stockholder meeting. These changes aim to enhance the Company's strategic direction in the specialty construction sector.