Orion Group Holdings 10-Q: Revenue $216.3M, EPS $0.12

Orion Group Holdings reported Q1 revenues of $216.3 million, a 15% increase year-over-year, with diluted earnings per share of $0.12, aided by a $6.9 million tax benefit. The company achieved net income of $4.7 million, up from a loss of $1.4 million last year. Gross profit rose to $25.9 million. The Concrete segment drove growth, while the Marine segment's share decreased. The company completed the JEM acquisition, expanding its service offerings, and backlog increased to $668 million, enhancing project visibility.

Orion Group Holdings reported contract revenues of $216.3 million for the quarter, up 15% year-over-year, and delivered diluted earnings of $0.12 per share driven in part by a $6.9 million tax benefit. The company posted net income of $4.7 million and gross profit of $25.9 million as project execution strengthened. Operating results reflect increased SG&A to support growth and the recently completed acquisition.

Financial Highlights

Contract revenues: $216.3 million, a 15% increase year-over-year.
Gross profit: $25.9 million, up $2.9 million (12%) year-over-year.
Operating (loss) income: $(0.8) million, compared with $0.8 million in the prior year, impacted by higher SG&A.
Net income: $4.7 million, a swing from a $(1.4) million loss in the prior year, which includes a $6.9 million tax benefit related to a decrease in the valuation allowance.
Diluted income per share: $0.12, compared with $(0.04) in the prior year.

Business Highlights

Revenue mix and segment performance: Growth was driven by expansion in the Concrete segment, including a significant increase in private work, which reduced the relative share of the Marine segment despite its strong backlog.
Acquisition: Completed the JEM acquisition to expand capabilities in dredging, jetty and breakwater construction, and environmental services, broadening the company’s service offerings.
Backlog and pipeline: Backlog increased to $668 million as of March 31, 2026, supporting near-term project pipeline and execution visibility.
Operations: Improved project execution contributed to higher gross margins; management increased SG&A resources to support growth and integration of the acquisition.

Original SEC Filing: Orion Group Holdings Inc [ ORN ] - 10-Q - Apr. 29, 2026

Disclaimer

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

Financial Highlights

Contract revenues: $216.3 million, a 15% increase year-over-year.
Gross profit: $25.9 million, up $2.9 million (12%) year-over-year.
Operating (loss) income: $(0.8) million, compared with $0.8 million in the prior year, impacted by higher SG&A.
Net income: $4.7 million, a swing from a $(1.4) million loss in the prior year, which includes a $6.9 million tax benefit related to a decrease in the valuation allowance.
Diluted income per share: $0.12, compared with $(0.04) in the prior year.

Business Highlights

Revenue mix and segment performance: Growth was driven by expansion in the Concrete segment, including a significant increase in private work, which reduced the relative share of the Marine segment despite its strong backlog.
Acquisition: Completed the JEM acquisition to expand capabilities in dredging, jetty and breakwater construction, and environmental services, broadening the company’s service offerings.
Backlog and pipeline: Backlog increased to $668 million as of March 31, 2026, supporting near-term project pipeline and execution visibility.
Operations: Improved project execution contributed to higher gross margins; management increased SG&A resources to support growth and integration of the acquisition.

Original SEC Filing: Orion Group Holdings Inc [ ORN ] - 10-Q - Apr. 29, 2026

Disclaimer

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.