Orion Group Holdings Inc
NYSE:ORN

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Orion Group Holdings Inc
NYSE:ORN
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Price: 10.88 USD Market Closed
Market Cap: $436.1m

Orion Group Holdings Inc
Investor Relations

Orion Group Holdings, Inc. engages in the provision of specialty construction services in the building, industrial, and infrastructure sectors. The company is headquartered in Houston, Texas and currently employs 378 full-time employees. The company went IPO on 2007-12-20. The firm operates through two segments, Marine and Concrete. The Marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its specialty services include design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation, and repair. The Concrete segment provides turnkey concrete construction services, including pour and finish, site preparation, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The firm is also providing services both on and off the water in the continental United States, Alaska, Canada, and the Caribbean Basin.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 4, 2026
AI Summary
Q4 2025

Results: Revenue rose to $852 million with adjusted EBITDA of $45 million and adjusted EPS of $0.25; free cash flow was $14 million and operating cash flow was $28 million.

Guidance: 2026 guidance: revenue $900–950 million, adjusted EBITDA $54–58 million, adjusted EPS $0.36–0.42, capex $25–35 million.

Backlog/Pipeline: Bookings were $763 million in 2025 (0.9x book-to-bill); company cites a $23 billion pipeline (includes $1.4 billion from J.E. McAmis) and says much of the delayed work is timing, not lost.

Strategic moves: Closed a $120 million, 5-year senior credit facility, bought a derrick barge (to be refurbished and deployed later in the year) and completed the J.E. McAmis acquisition to expand marine capabilities.

Marine vs Concrete: Marine revenue $545 million (up 4.5% YoY) with adjusted EBITDA of $56 million and improved margins; Concrete revenue $307 million (up 12% YoY) with an $11 million adjusted EBITDA loss (corporate allocations cited).

Risks / headwinds: Backlog growth was weaker than expected due to tariff uncertainty early in the year and a prolonged U.S. government shutdown; management expects most delays to be timing-related.

Data centers: Management highlighted 46 data‑center projects completed or in progress; data center work is ~40% of Concrete and expected to grow.

Key Financials
Revenue
$852 million
Operating income
$15 million
Adjusted EBITDA
$45 million
Adjusted EPS
$0.25 per share
Operating cash flow
$28 million
Free cash flow
$14 million
Marine revenue
$545 million
Marine adjusted EBITDA
$56 million
Marine adjusted EBITDA margin
10% (reported); contribution margin 15% (contribution adjusted EBITDA margin)
Concrete revenue
$307 million
Concrete adjusted EBITDA
($11) million loss
Concrete contribution adjusted EBITDA margin (ex‑corporate)
4.5%
Bookings (new contracts & change orders)
$763 million
Book‑to‑bill
0.9x
Total pipeline
$23 billion
McAmis pipeline included in total
$1.4 billion
Marine opportunity pipeline
over $19.4 billion
Concrete opportunity pipeline
over $2.4 billion
Net debt
about $6 million
Credit facility size
$120 million
Credit facility breakdown
$60M revolving / $20M equipment term loan / $40M M&A term loan (+ $25M uncommitted accordion)
Interest rate on new facility
SOFR +2.5% to 3%
Additional borrowings (post‑year‑end)
$47 million (to fund McAmis acquisition)
Data center projects (completed or in progress)
46 projects
Guidance: Capital expenditures (2026)
$25–35 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Travis J. Boone
CEO, President & Director
No Bio Available
Mr. Gordon Scott Thanisch
Executive VP, Treasurer & CFO
No Bio Available
Mr. Edward Chipman Earle
Executive VP, General Counsel, Chief Admin. Officer, Chief Compliance Officer & Corporate Secretary
No Bio Available
Ms. Shallee E. Biondo SPHR
Vice President of Human Resources
No Bio Available
Mr. Scott H. Cromack
Executive Vice President of Orion Marine Group
No Bio Available
Mr. Ardell C. Allred
Executive Vice President of TAS Concrete Construction, LLC
No Bio Available
Mr. Alan Eckman
Senior VP of Strategy & Growth
No Bio Available

Contacts

Address
TEXAS
Houston
12000 Aerospace Ave Ste 300
Contacts
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