Orion Group Holdings, Inc. · NYSE:ORN
Orion — Investor Presentation (September 2025)
29 slides from Orion's investor presentation, September 2025
Slide 1: Investor Presentation
Investor Presentation September 2025
Slide 2: Disclaimer
Disclaimer This presentation contains, and the officers and directors of the Company may from time to time make, statements that are considered forward looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are su
Slide 3: Orion At-A-Glance
Orion At-A-Glance ($ in millions) BUSINESS DESCRIPTION KEY FACTS AND FIGURES Orion Group Holdings is a leading specialty Financial Profile construction and engineering company focused on large-scale infrastructure projects across two core segments: Marine and Concrete $796M $42M 5.3% $729M 2024 Reve
Slide 4: Large Market Opportunity with Strong, Diverse Tailwinds
Large Market Opportunity with Strong, Diverse Tailwinds… OBBBA & Trump Administration Directives Port Expansion and Maintenance Prioritizing restoration of maritime dominance with investment in shipyards, Larger ships via expanded Panama Canal require upgraded vessel upgrades, drydocks shipping chan
Slide 5: Marine Segment At-A-Glance
Marine Segment At-A-Glance ($ in millions) SEGMENT OVERVIEW KEY FACTS AND FIGURES • Construction solutions spanning port expansion & maintenance, bridge, causeway and marine infrastructure construction services to customers across diversified end markets in the Continental U.S., Pacific Islands, Wes
Slide 6: Concrete Segment At-A-Glance
Concrete Segment At-A-Glance ($ in millions) SEGMENT OVERVIEW KEY FACTS AND FIGURES • Turnkey concrete construction services including place and finish, site work, layout, forming and $275M $15M rebar for clients across manufacturing, data center, institutional, industrial, commercial construction a
Slide 7: Orion Key Highlights
Orion Key Highlights 1 Mission Critical Specialty Construction Provider with Sustainable Competitive Advantages 2 Multiple, Growing Market Opportunities with Strong Tailwinds and Diverse Demand Drivers 3 Highly Diversified Customer Base and Multiple Funding Sources 4 Strategic Plan Underway to Drive
Slide 8: Mission-Critical Specialty Construction Provider with Sustainable Advantages
Misson-Critical Specialty Construction Provider with Sustainable Advantages POSITIONED FOR GROWTH CRITICAL SERVICE PROVIDER HIGH BARRIERS TO ENTRY FROM MULTIPLE TAILWINDS • Mission-critical specialty construction • Jones Act prohibits foreign competition • Well-positioned to take advantage of servic
Slide 9: Highly Diversified Customer Base
Highly Diversified Customer Base ENERGY DATA CENTERS GOVERNMENT OTHER Long-tenured relationships with blue-chip customers across federal, state & local government and private enterprise 9
Slide 10: Experienced Management Leading Strategic Plan to Drive Long-Term Growth
Experienced Management Leading Strategic Plan to Drive Long-Term Growth Execution on Actionable, Multi-Phase Strategic Plan is Underway PURSUIT AND BID GEOGRAPHIC EXPANSION DISCIPLINE Enter new geographies (including Western U.S. Focus on high-quality projects at healthier margins and Pacific Island
Slide 11: Successful Execution of Strategic Transformation - Phase I
Successful Execution of Strategic Transformation - Phase I Improved Strengthened Fortified Financial Profitability of the Business Flexibility to Optimize Concrete Business Development Growth Potential • Implemented minimum bid margins • Prioritized pursuit of high-impact, • Secured a long-ter
Slide 12: Strong Track Record of Execution – Clear Direction for Phase II
Strong Track Record of Execution – Clear Direction for Phase II PHASE II OF STRATEGIC PLAN RECORD PIPELINE TO SUPPORT FUTURE GROWTH Four core pillars of growth potential have been identified in Orion has significantly expanded its pipeline of Phase II of Orion’s Strategic Plan: opportunities over th
Slide 13: $18B Opportunity Pipeline by Award Date, Size, Segment and Sector
$18B Opportunity Pipeline by Award Date, Size, Segment and Sector Total Pipeline by Award Date Total Pipeline by Segment $9B Concrete 12.5% $4B $5B 87.5% Marine 2025 2026 Q426 and Beyond Total Pipeline by Size Total Pipeline by Sector $7B $6B Private $5B 25% 75% Public $0-$50M $50M-$200M $200M+ 13
Slide 14: Experienced Management Team Focused on Growth and Financial Performance
Experienced Management Team Focused on Growth and Financial Performance Travis Travis Boone, Boone, PE PE 30 Alison Vasquez 25 Years of Chip Earle 25 Years of Years of Chief Executive Officer Chief Financial Officer General Counsel Chief Executive Officer Experience Experience Experience • Transform
Slide 15: Case Study: Aging U.S. Navy Infrastructure
Case Study: Aging U.S. Navy Infrastructure U.S. NAVY INFRASTRUCTURE IN NEED OF REPAIR • Aging US Navy port infrastructure – average dry dock is now 107 years old1 • The U.S. Navy has 9 dry docks in HI & WA; replacement Airfield Improvements of dry dock 3 in Pearl Harbor is underway at estimated cost
Slide 16: Case Study: Significant Data Center Growth Expected Through 2032
Case Study: Significant Data Center Growth Expected to Continue Through 2032 Driven by AI and Cloud Computing 6.4GW OF DATA CENTER CAPACITY KEY METRICS (AS OF 6/30/25) UNDER CONSTRUCTION WITH 83% PRE-LEASED 36 ~$240M ~40% 2GW Orion’s Total Project Value Contract Dollars from Projects Awarded expansi
Slide 17: Financial Overview
Confidential Financial Overview
Slide 18: Recent Evolution of Backlog
Recent Evolution of Backlog ($ in millions) 1000 BACKLOG SELECTED CONTRACT HIGHLIGHTS 900 800 700 New management joined Orion $21M $24M Multi-Story Structural Costco Distribution 600 Contract in Texas Center- Phase 2 (2025) (2025) 500 400 300 $114M $450M Bridge Replacement 200 Contract in Texas Dry
Slide 19: Historical Annual Financial Summary
Historical Annual Financial Summary ($ in millions) Revenue Adjusted EBITDA $796 $825 $748 $712 $42 $44 $601 $23 $24 $17 2021 2022 2023 2024 2025E 2021 2022 2023 2024 2025E Guidance Guidance 2021 Midpoint Midpoint • 2025 guidance midpoint signals continued growth • 2025 guidance almost triples from
Slide 20: First Half 2025 Results
First Half 2025 Results ($ in millions) 1H 2025 1H 2024 Growth (YOY) Revenue $394M $353M +12% GAAP EPS ($0.01) ($0.39) -- Adjusted EBITDA $19M $10M +90% Adjusted EPS $0.07 ($0.23) -- Adjusted EBITDA Margin 4.9% 2.7% +220bps First half 2025 results were driven by new awards in both our Marine and C
Slide 21: Fiscal Year 2025 Guidance
Fiscal Year 2025 Guidance ($ in millions) FY2025 “In summary, we’ve delivered a strong quarter of revenue, EBITDA Revenue $800M - $850M and EPS growth and are tracking nicely with our 2025 guidance. We Adjusted EBITDA $42M - $46M have a healthy pipeline that spans multiple, enduring growth themes Ad
Slide 22: Appendix
Confidential Appendix
Slide 23: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Three months ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net income (loss) $ 841 $
Slide 24: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) 3Q2024 4Q2024 1Q2025 2Q2025 LTM Net income (loss) $ 4,262 $ 6,754 $ (1,414) $ 841 $ 10,443 Income ta
Slide 25: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Reconciliation of Adjusted Net Income (Loss) (In thousands except per share information) (Unaudited) Three months ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net income (loss) $ 841 $ (6,60
Slide 26: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Marine Concrete Year ended Year ended December 31, December 31, 2024 2024 Operating income 2,318 9,2
Slide 27: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Year Ending December 31, 2020 2021 2022 2023 2024 Net income (loss) $ 20,220 $ (14,560) $ (12,612) $
Slide 28: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA, Unburdened Adjusted EBITDA and Unburdened Adjusted EBITDA Margin Reconciliations by Segment (In Thousands, Except Margin Data) (Unaudited) Three Months Ended June 30, 2025 Marine Concrete O
Slide 29: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information ($ in millions) Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EBITDA Reconciliation (In Thousands) (Unaudited) Year Ending December 31, 2025 Low Estimate High Estimate Net (loss) income $ (2,226) $ 1,533 Income tax benefit (291) (50) Interest expen
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