Orion Group Holdings, Inc. · NYSE:ORN
Orion — Q1 2026 Earnings Presentation
29 slides from Orion's earnings presentation, Apr 29, 2026
Slide 1: Investor Presentation April 2026
MARINE | CONCRETE | ENGINEERING & CONSULTING Investor Presentation April 2026
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: At a Glance / Key Statistics
Orion is a leading specialty construction company focused AT A GLANCE on mission-critical projects on, over, and under the water SERVICES KEY STATISTICS Marine Concrete Comprehensive engineering, Construction services for construction, jetty & commercial, structural, high- $900M - $950M $54M - $58M
Slide 4: Orion Investment Appeals
ORION INVESTMENT APPEALS Mission critical specialty construction provider with 1 sustainable competitive advantages Poised to benefit from multiple powerful demand 2 drivers and a robust, growing $24B pipeline Clear, disciplined strategy built on strengthened 3 foundation to drive increased value cr
Slide 5: Mission-Critical Specialty Construction Provider with Competitive Advantages
MISSION-CRITICAL SPECIALTY CONSTRUCTION PROVIDER WITH COMPETITIVE ADVANTAGES High Barriers to Entry Why We Win • Jones Act prohibits foreign competition in the U.S. • Over 100 years of marine and civil engineering experience marine market • Over 40 years of concrete construction expertise for a • Ma
Slide 6: Large Market Opportunity with Strong, Diverse Tailwinds Supports $24B Pipeline
LARGE MARKET OPPORTUNITY WITH STRONG, DIVERSE TAILWINDS SUPPORTS $24B PIPELINE Strong Political Tailwinds Coastal Rehabilitation & Remediation OBBBA and White House directives prioritizing restoration of maritime dominance Increased disaster recovery from regional weather events, with investment in
Slide 7: Massive U.S. Navy Opportunity in the Pacific
MASSIVE U.S. NAVY OPPORTUNITY IN THE PACIFIC • U.S. Navy is procuring Multiple Award Construction Contracts for many billions in infrastructure projects throughout the Pacific • Scope includes new facilities, repair/renovation and upgrades to existing facilities, including wharves/piers, dredging, a
Slide 8: Clear, Disciplined Strategy Built on a Strengthened Foundation to Drive Growth
CLEAR, DISCIPLINED STRATEGY BUILT ON A STRENGTHENED FOUNDATION TO DRIVE GROWTH Disciplined Geographic Strategic Driving organic growth Operational Expansion Acquisitions Foundation • Capitalize on improving Marine • Expand geographically and into • Focus on high-quality • Strategic, accretive M&A co
Slide 9: Optimizing Capital Deployment for Future Growth and Shareholder Value
OPTIMIZING CAPITAL DEPLOYMENT FOR FUTURE GROWTH AND SHAREHOLDER VALUE 1.5x Dec 2030 Net Leverage as of 1 Deploy capital to drive profitable organic growth Senior Credit Facility Maturity Capital Deployment Priorities Mar 31, 2026(a) 40% savings $52M 2 Maintain leverage ratio <2.5x Improvement in int
Slide 10: Acquisition of J.E. McAmis, Strengthening Marine Capabilities
Acquisition of J.E. MCAMIS, Strengthening Marine Capabilities Heavy Civil | Jetty & Breakwater | Marine | Environmental • 50 years of experience delivering Federal heavy civil construction-- recognized as jetty construction experts and “go-to” provider in harsh environments • Extends and strengthens
Slide 11: Experienced Management Team Focused on Growth and Financial Performance
EXPERIENCED MANAGEMENT TEAM FOCUSED ON GROWTH AND FINANCIAL PERFORMANCE Travis Travis Boone, Boone, PE PE 30 Alison Vasquez 25 Chip Earle 25 Chief Executive Officer Years of Experience Chief Financial Officer Years of Experience General Counsel Years of Experience Chief Executive Officer • Transform
Slide 12: Mission-Critical Marine Infrastructure Platform
MISSION-CRITICAL MARINE INFRASTRUCTURE PLATFORM ALIGNED WITH LONG-TERM DEFENSE AND PORT INVESTMENT Construction solutions spanning port expansion & maintenance, jetty & breakwater, bridge, causeway and marine infrastructure construction services to customers across diversified end markets in the U.S
Slide 13: Diversified Concrete Capabilities Aligned with Data Center, Industrial and Commercial Growth
DIVERSIFIED CONCRETE CAPABILITIES ALIGNED WITH DATA CENTER, INDUSTRIAL AND COMMERCIAL GROWTH Turnkey concrete construction services including place and finish, site work, layout, forming and rebar for clients across manufacturing, data center, institutional, industrial, commercial construction, and
Slide 14: Financial Performance
FINANCIAL PERFORMANCE 14
Slide 15: Historical Annual Financial Summary
HISTORICAL ANNUAL FINANCIAL SUMMARY ($ in millions) Revenue Adjusted EBITDA $925 $852 $796 $748 $712 $56 $601 $45 $42 $23 $24 $17 2021 2022 2023 2024 2025 2026E 2021 2022 2023 2024 2025 2026E 2021 Guidance Guidance Midpoint Midpoint • 2026 Revenue guidance midpoint signals expected growth • 2026 Adj
Slide 16: First Quarter 2026 Results
FIRST QUARTER 2026 RESULTS Q1 2026 Q1 2025 Growth Revenue $216M $189M 15% GAAP EPS $0.12 ($0.04) +$0.16 Adjusted EBITDA $8.7M $8.2M 7% Adjusted EPS $0.05 $0.01 +$0.04 Adjusted EBITDA Margin 4.0% 4.3% __ 16
Slide 17: Record $24B Opportunity Pipeline to Support Future Growth
RECORD $24B OPPORTUNITY PIPELINE TO SUPPORT FUTURE GROWTH Total Pipeline by Anticipated Award Date Total Pipeline by Segment $8B $8B $8B Concrete 10% 90% Marine 2026 2027 Beyond Total Pipeline by Anticipated Opportunity Size Total Pipeline by Sector $12B Private 25% $7B $5B 75% Public $0-$50M $50M-$
Slide 18: Fiscal Year 2026 Guidance (as of April 28, 2026)
FISCAL YEAR 2026 GUIDANCE (AS OF APRIL 28, 2026) FY2026 Revenue $900M to $950M, a 9% annual increase at the midpoint Adjusted EBITDA $54M to $58M, a 24% annual increase at the midpoint Adjusted EPS $0.36 to $0.42, a 56% annual increase at the midpoint Capex $25M to $35M 18
Slide 19: Recent Evolution of Backlog
RECENT EVOLUTION OF BACKLOG ($ in millions) BACKLOG RECENT WINS 1000 900 New management 800 joined Orion 700 600 Bridge Replacement Terminal Wharf Expansion Contract in Texas 500 400 300 200 100 0 Manufacturing Facilities USACE Sargent Beach Jetty and Beach Renourishment Project 19
Slide 20: Appendix
APPENDIX 20
Slide 21: Valued Partner to Highly Diversified Customer Base
VALUED PARTNER TO HIGHLY DIVERSIFIED CUSTOMER BASE ENERGY DATA CENTERS GOVERNMENT OTHER Long-tenured relationships with customers across federal, state & local government and private enterprise 21
Slide 22: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Three Months Ended March 31, 2026 2025 Net income (loss) $ 4,687 $ (1,414) Income tax (benefit) expense (6,852) 140
Slide 23: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Reconciliation of Adjusted Net Income (Loss) (In thousands except per share information) (Unaudited) Three Months Ended March 31, 2026 2025 Net income (loss) $ 4,687 $ (1,414) Adjusting items and the tax effects: Non-cash
Slide 24: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) For the three months ended March 31, 2026 For the three months ended March 31, 2025 General General Marine Concrete
Slide 25: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Year Ending December 31, 2021 2022 2023 2024 2025 Net (loss) income $ (14,560) $ (12,612) $ (17,875) $ (1,644) $ 2,4
Slide 26: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) For the three months ended June 30, 2025 For the three months ended September 30, 2025 General General Marine Concre
Slide 27: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) For the three months ended December 31, 2025 For the year ended December 31, 2025 General General Marine Concrete Co
Slide 28: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EBITDA Reconciliation (In Thousands) (Unaudited) Year Ending December 31, 2026 Low Estimate High Estimate Net income $ 11,500 $ 15,300 Income tax expense 400 600 Interest expense, net 7,700 7,700 Deprec
Slide 29: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EPS Reconciliation (In Thousands except per share information) (Unaudited) Year Ending December 31, 2026 Low Estimate High Estimate Net income $ 11,500 $ 15,300 Adjusting items and the tax effects: Non-