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. (NYSE: ORN) is a specialty construction company with marine and concrete segments serving infrastructure, industrial, and building markets in the continental United States, Alaska, Hawaii, Canada, and the Caribbean Basin. The ORN news feed on this page brings together company-issued updates and market disclosures that highlight how Orion executes its marine construction, dredging, and concrete construction activities.
News items for Orion commonly include announcements of new contract awards across its marine and concrete segments, such as maintenance dredging for the U.S. Army Corps of Engineers, shoreline protection projects, marine transportation facility work, crane trestle installations, and large concrete projects including data centers, manufacturing facilities, healthcare projects, energy-related facilities, and cold storage. These updates provide insight into the company’s contracted backlog and the mix of projects it is pursuing.
Investors and followers of ORN can also expect earnings releases and related communications, where Orion reports contract revenues, gross profit, backlog levels, and non-GAAP measures such as EBITDA and Adjusted EBITDA. The company uses these releases and associated conference calls to discuss operational performance in its marine and concrete segments, backlog trends, and financial guidance.
Additional news coverage includes information about capital structure developments, such as the establishment of a senior credit facility with UMB Bank, as well as governance and leadership updates like board appointments. Orion also reports on its participation in investor and industry conferences, where management presents its strategy, project pipeline, and market opportunities.
By reviewing the ORN news stream, readers can follow Orion Group Holdings’ reported contract wins, segment activity, financial updates, and corporate developments over time.
Orion Group Holdings (NYSE: ORN) announced two significant contract awards in its Marine segment, totaling nearly $200 million. The first is a $125 million contract from the Florida Department of Transportation for the replacement of the Indian River Bridge, expected to start in Q4 2021 and finish in Q4 2024. The second is a $67 million contract for the Berth 6 Expansion Project at the Port of Port Arthur, Texas, set to commence in Q4 2021 and complete in Q3 2024. These projects enhance Orion's backlog and reinforce its role in U.S. infrastructure development.
Orion Group Holdings (NYSE: ORN) has secured three contracts totaling approximately $22 million for dredging services from the US Army Corps of Engineers (USACE). These contracts involve maintenance work on Gulf coast waterways, with potential increases valued at up to $19 million. Two contracts from the Galveston District total $18.3 million for the Gulf Intracoastal Waterway and Sabine Neches Waterway. A third contract worth $3.5 million is from the Jacksonville District for Tampa Harbor. Work is expected to begin in Q4 2021.
Orion Group Holdings, Inc. (NYSE: ORN) has secured six contract awards totaling approximately
Orion Group Holdings (NYSE: ORN) announced contract awards totaling approximately $35 million. The Marine segment secured four contracts, notably in the Gulf Coast and Alaska, with three contracts in Texas and Louisiana valued at $27.5 million for marine infrastructure development. The projects commence in Q4 2021 and are expected to complete by Q3 2022. Additionally, a $7.8 million contract from the US Department of Transportation involves bridge replacement in Alaska's Denali National Park and will begin in Q1 2022, concluding in late 2023.
Orion Group Holdings, Inc. (NYSE: ORN) announces participation in the D.A. Davidson Diversified Industrials and Services Virtual Conference on September 22, 2021. The company's Executive VP & CFO
Orion Group Holdings (NYSE: ORN) reported a net income of $3.5 million for Q2 2021, with a diluted EPS of $0.11, up from $2.0 million in Q2 2020. Operating income increased to $5.6 million despite reduced contract revenues of $145.9 million, down 20.6% year-over-year due to decreased project activity. Adjusted EBITDA was $7.4 million, and backlog stood at $394.4 million. The company sold its Tampa property, enhancing liquidity. Heavy rain affected production, especially in the concrete segment, but management remains optimistic about bid opportunities in recovering markets.
Orion Group Holdings (NYSE: ORN) announced its participation in the Jefferies Virtual Industrials Conference on August 4, 2021, at 1:00 PM ET. CEO Mark Stauffer, CFO Robert Tabb, and VP of Investor Relations Francis Okoniewski will present. One-on-one meetings are available on August 3-4 for interested parties. A live webcast of the presentation can be accessed from the Company’s investor relations website, with an archived recording available afterward. Orion is a specialty construction company serving the infrastructure, industrial, and building sectors across North America and the Caribbean.
Orion Group Holdings (NYSE: ORN) will release its financial results for Q2 2021 on July 28, 2021, after market close. A conference call to discuss the results will take place on July 29, 2021, at 10:00 a.m. ET. Investors can listen by dialing 201-493-6739 or via the company's website. Orion operates in the construction sector, providing marine and concrete services across the U.S., Alaska, Canada, and the Caribbean, emphasizing infrastructure, industrial, and building projects.
Orion Group Holdings (NYSE: ORN) has successfully sold its Tampa property on West Tyson Avenue, generating net proceeds of approximately $22 million. This divestment aligns with the company's strategy to monetize real estate assets and will provide a gain on the sale, enhancing liquidity and strengthening the balance sheet. CEO Mark Stauffer emphasized the importance of this sale in supporting ongoing investments in a new ERP system and the upgrade of a dredging vessel. Orion continues to explore capital allocation options to execute its strategic plan.
Orion Group Holdings (NYSE: ORN) announced that Executive VP & CFO Robert Tabb and VP of Investor Relations Francis Okoniewski will present at the Stifel Cross Sector Insight Conference on June 8, 2021, at 10:40 am ET. Management will conduct one-on-one meetings throughout the day, with scheduling through Stifel institutional sales representatives or Fred Buonocore. A live webcast of the presentation will be accessible on the Company’s website, with an archived recording available later in the investor relations section.