Orion Group Holdings Reports First Quarter 2026 Results

About this update from Orion Group Holdings, Inc.

HOUSTON, April 28, 2026 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the “Company” or “Orion”), a leading specialty construction company, today reported its financial results for the first quarter ended March 31, 2026. Highlights for the quarter ended March 31, 2026 “We delivered a solid start to the year, supported by disciplined operational performance and a healthy $24 billion pipeline of opportunities. This translated into top- and bottom-line growth and good cash flow generation,” said Travis Boone, President and Chief Executive Officer of Orion. “Our teams continue to execute at a high level, positioning us well for the remainder of 2026.” “In our Marine segment, demand for mission-critical waterfront infrastructure continues to build, particularly across defense and port modernization projects. We are seeing an uptick in opportunities with the U.S. Coast Guard and the Department of War, underpinned by sustained federal investment in marine infrastructure outlined in the President’s Budget released in early April. We are making good progress integrating J.E. McAmis, leveraging their technical skillset to expand our opportunities and enhance project execution.” “Our Concrete segment had a fantastic quarter across all key metrics and delivered strong revenue and adjusted EBITDA growth. Data center development continues to serve as a primary market driver, supported by sustained investment from hyperscalers and enterprise customers, with expanding opportunities in growing end markets such as cold storage and advanced manufacturing.” “Our backlog is growing and our pursuit pipeline remains healthy, with broad-based opportunities across both segments as we move through the year. This combination supports affirmation of our full year 2026 guidance,” concluded Boone. First Quarter 2026 Results See definitions and reconciliation of non-GAAP measures elsewhere in this release. Contract revenues of $216.3 million in the first quarter of 2026 increased $27.6 million, or 15%, from $188.7 million in the first quarter of last year, primarily due to strong demand and expansion of services in the Concrete segment. Gross profit was $25.9 million in the first quarter of 2026, an increase of $2.9 million, or 12%, from $23.0 million in the first quarter of 2025. The increase was primarily driven by the increase in revenue, strong project e...

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