Earnings ·
Reports Q3 revenue of $256.2M and GAAP net income of $5.5M
ORNOrion Group Holdings Inc
Orion Group Holdings reported third-quarter 2026 results with contract revenues increasing 14% to $256.2 million, driven by double-digit growth in its Marine and Concrete segments. The company posted a GAAP net income of $5.5 million, or $0.14 per diluted share, compared to $3.3 million in the prior year period. Adjusted EBITDA rose 37% to $17.9 million, reflecting expanding profitability and margin improvement. Backlog stood at $645 million as of September 30, including approximately $179 million in new awards and positions on two additional U.S. Navy Multiple Award Construction Contracts. The company reiterated its full-year 2026 financial guidance, projecting revenue between $900 million and $950 million and adjusted EBITDA between $50 million and $54 million. Orion Group Holdings is a leading specialty construction company serving the infrastructure, industrial, and building sectors through marine and concrete services.