Latest news with #TravisBoone
Associated Press
12 hours ago
- Business
- Associated Press
Orion Group Holdings Awarded $100 Million in New Contracts
HOUSTON, June 19, 2025 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) ('Orion' or the 'Company'), a leading specialty construction company, today announced new Marine and Concrete awards for a total value of approximately $100 million. In addition, Orion's Chief Executive Officer and General Counsel were honored with executive leadership awards. Management Commentary 'We are proud to be recognized with new contract awards that reflect the trust our partners place in us. These achievements are a testament to the strength of our team, our commitment to the highest safety standards, and the progress we are making in expanding our business development pipeline,' said Travis Boone, Chief Executive Officer of Orion Group Holdings, Inc. 'Our strong delivery and consistent execution have enabled us to successfully expand our client relationships and Port Tampa Bay is a good example. For many years, we have been their longstanding partner for maintenance dredging and new construction projects. We are pleased to play a role in their expansion initiatives aimed at enhancing the port's capacity and efficiency.' Boone continued, 'In our Concrete business, we continue to see strong demand, supported by the next phase of a large data center project and several projects in our home state. With our strong reputation and robust pipeline, we are well positioned for continued growth.' New Contracts Orion's Marine business recently secured $67 million in new wins. For Weyerhaeuser Company, Orion Marine was awarded the Longview Export Dock Replacement project. This work involves removing the existing timber Berth A structure and replacing it with a new concrete structure supported by large-diameter steel pipe piles. The project is expected to last 12 months and will begin in the third quarter of 2025. In addition, Orion Marine won two projects with the Port of Tampa Bay. The first award is a 3-year maintenance dredging contract for the Port, estimated to begin work in September 2025. The second contract is for the Port Redwing Berth 301 Wharf project – a crucial project given the rapid population growth in the Tampa Bay region and the increasing demand for construction and bulk materials. Orion Concrete won $33 million in new contract awards, including a data center project in Iowa, the Harris County Sheriff's Office Complex in Houston as a subcontractor for Durotech, Inc., and the foundation of a cold storage facility for U.S. Foods. These projects will commence in the third quarter of 2025 with an estimated duration of one year. In addition, the Company was recently awarded a contract with the City of Ingleside wastewater treatment plant as a subcontractor to Associated Construction Partners. This project is expected to begin in December of 2025 with a duration of 12 months. Executive Leadership Awards Orion's executive leadership team was recently recognized for outstanding achievements. Travis Boone, Orion's Chief Executive Officer, was named a finalist for the EY Entrepreneur of The Year® 2025 Gulf South Award, presented by Ernst & Young LLP. This prestigious recognition honors visionary business leaders who are driving innovation and growth across industries. Chip Earle, Orion's General Counsel, won the Lexology North America Award for in-house general counsel in the construction industry. In association with the Association of Corporate Counsel, Lexology recognizes the outstanding achievements of the world's leading legal practitioners across various practice areas and sectors. About Orion Group Holdings Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company's marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. Forward-Looking Statements The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the 'safe harbor' provisions of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, guidance, outlook, assumptions, or goals. In particular, statements regarding our pipeline of opportunities, financial guidance and future operations or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future operating results or the future generation of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any estimates, guidance, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, estimated project start dates, ramp-up of contract activity and contract options, which may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints, and any potential contract options which may or may not be awarded in the future, and are at the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. Considering these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law. Please refer to the Company's 2024 Annual Report on Form 10-K, filed on March 5, 2025 which is available on its website at or at the SEC's website at and filings and press releases subsequent to such Annual Report on Form 10-K for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts. Contact: Margaret Boyce Orion Group Holdings, Inc. [email protected] 312-402-6980 Source: Orion Group Holdings, Inc.
Yahoo
13-05-2025
- Business
- Yahoo
ORN Q1 Earnings Call: Marine Project Wins and Data Center Demand Drive Outlook
Marine infrastructure company Orion (NYSE:ORN) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 17.4% year on year to $188.7 million. The company's full-year revenue guidance of $825 million at the midpoint came in 1.5% above analysts' estimates. Its non-GAAP profit of $0.01 per share was significantly above analysts' consensus estimates. Is now the time to buy ORN? Find out in our full research report (it's free). Revenue: $188.7 million vs analyst estimates of $173.4 million (17.4% year-on-year growth, 8.8% beat) Adjusted EPS: $0.01 vs analyst estimates of -$0.07 (significant beat) Adjusted EBITDA: $8.17 million vs analyst estimates of $6.79 million (4.3% margin, 20.3% beat) The company reconfirmed its revenue guidance for the full year of $825 million at the midpoint EBITDA guidance for the full year is $44 million at the midpoint, above analyst estimates of $43.46 million Operating Margin: 0.2%, up from -2.2% in the same quarter last year Free Cash Flow was -$12.48 million compared to -$24.68 million in the same quarter last year Backlog: $839.7 million at quarter end Market Capitalization: $321.2 million Orion's first quarter results reflected significant revenue growth and margin improvement, which management attributed to increased project wins in both its marine and concrete segments. CEO Travis Boone highlighted the impact of strong bidding activity and successful execution on major marine projects, while also noting that the company's proactive approach to managing tariff risks and supplier relationships helped mitigate potential cost pressures. Boone stated, 'We were proactive in managing tariff risks starting last summer,' emphasizing careful planning amid policy changes. On the guidance front, Orion's leadership maintained a steady outlook for the remainder of the year, citing robust backlog and continued demand across its core markets. Management pointed to federal policy support for domestic infrastructure and maritime investments as long-term tailwinds, while also reiterating a focus on operational efficiency and disciplined bidding. CFO Scott Thanisch noted, 'Our first quarter performance was aligned to our expectations and we are reiterating our guidance for the full year 2025.' Orion's management provided context for the quarter's performance, focusing on execution in core end-markets and actions taken to address macroeconomic and policy uncertainty. Marine project execution: Marine segment profitability improved due to strong performance on large jobs, particularly in Hawaii and Grand Bahamas, which contributed to higher margins versus last year. Concrete segment outlook: Management reported increased demand and new wins in concrete, especially in the data center and mixed-use project markets; however, seasonal factors led to lower margins in Q1, with expectations for improvement as the year progresses. Backlog strength and pipeline: The company's backlog plus awarded work reached $891 million, supported by nearly $350 million in new wins so far this year, spanning marine, concrete, and data center projects. Tariff and policy actions: Leadership proactively managed tariff exposure by adjusting sourcing strategies and relying on strong supplier relationships, particularly for steel, reducing risk from recent policy changes. Operational improvements: The transition to a unified IT platform and ongoing office consolidation efforts are expected to enhance visibility, efficiency, and cost management across business units. Looking forward, Orion's outlook for the year is shaped by federal policy trends, continued strength in infrastructure and data center demand, and a focus on operational leverage to improve margins. Policy-driven demand tailwinds: Management expects federal initiatives aimed at revitalizing U.S. maritime and industrial infrastructure to support growth, with new shipyard and defense-related projects in the pipeline. Operational scale and efficiency: Investments in IT systems and office consolidation are anticipated to improve project management and cost control, supporting margin expansion as revenue grows. Input cost and supply risks: While management believes tariff and input cost risks are mitigated through planning and contract structuring, uncertainties remain if material costs rise faster than bid adjustments can offset. Aaron Spychalla (Craig-Hallum): Asked about timing and magnitude of defense-related project awards; management expects decisions late this year or early next, with several large federal projects under consideration. Julio Romero (Sidoti & Company): Queried about marine margin sustainability; management cited strong Q1 project performance, but noted margins may moderate, with ongoing improvement expected from continued growth. Brent Thielman (D.A. Davidson): Inquired on concrete segment's Q1 loss and future profitability; management pointed to seasonal factors and expects a return to profitability as activity increases through the year. Liam Burke (B. Riley FBR): Raised questions on cash flow trends and input cost pressures; CFO expects improving cash flow as revenues rise, and management continues to adjust bids and contingencies for potential cost increases. Julio Romero (Sidoti & Company): Followed up on competitive differentiation in government contracts; management emphasized strong supplier relationships and compliance with sourcing requirements as key advantages. In the coming quarters, the StockStory team will watch (1) the timing and scale of new federal project awards in the marine and defense sectors, (2) evidence of margin improvement in the concrete business as seasonal activity picks up, and (3) whether recent operational investments—such as the IT platform and office consolidation—translate into improved cost management and project execution. Progress on backlog conversion and concrete market demand will also be important markers. Orion currently trades at a forward P/E ratio of 50.1×. In the wake of earnings, is it a buy or sell? The answer lies in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. 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Yahoo
30-04-2025
- Business
- Yahoo
Orion (NYSE:ORN) Reports Bullish Q1, Stock Jumps 10.6%
Marine infrastructure company Orion (NYSE:ORN) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 17.4% year on year to $188.7 million. The company's full-year revenue guidance of $825 million at the midpoint came in 1.5% above analysts' estimates. Its non-GAAP profit of $0.01 per share was significantly above analysts' consensus estimates. Is now the time to buy Orion? Find out in our full research report. Revenue: $188.7 million vs analyst estimates of $173.4 million (17.4% year-on-year growth, 8.8% beat) Adjusted EPS: $0.01 vs analyst estimates of -$0.07 (significant beat) Adjusted EBITDA: $8.17 million vs analyst estimates of $6.79 million (4.3% margin, 20.3% beat) The company reconfirmed its revenue guidance for the full year of $825 million at the midpoint EBITDA guidance for the full year is $44 million at the midpoint, above analyst estimates of $43.46 million Operating Margin: 0.4%, up from -2.2% in the same quarter last year Free Cash Flow was -$12.48 million compared to -$24.68 million in the same quarter last year Backlog: $839.7 million at quarter end Market Capitalization: $236.5 million 'We're off to a strong start in 2025. On a year-over-year basis, our first quarter revenue increased 17% to $189 million and Adjusted EBITDA doubled. This performance reflects the strength of our operating model and the successful execution of our strategic priorities,' said Travis Boone, Chief Executive Officer of Orion Group Holdings. Established in 1994, Orion (NYSE:ORN) provides construction services for marine infrastructure and industrial projects. A company's long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Unfortunately, Orion's 2.4% annualized revenue growth over the last five years was sluggish. This was below our standards and is a poor baseline for our analysis. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Orion's annualized revenue growth of 6.1% over the last two years is above its five-year trend, but we were still disappointed by the results. This quarter, Orion reported year-on-year revenue growth of 17.4%, and its $188.7 million of revenue exceeded Wall Street's estimates by 8.8%. Looking ahead, sell-side analysts expect revenue to grow 1.1% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and implies its products and services will see some demand headwinds. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. Orion was roughly breakeven when averaging the last five years of quarterly operating profits, one of the worst outcomes in the industrials sector. This result isn't too surprising given its low gross margin as a starting point. Looking at the trend in its profitability, Orion's operating margin might fluctuated slightly but has generally stayed the same over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. In Q1, Orion's breakeven margin was up 2.6 percentage points year on year. The increase was encouraging, and because its operating margin rose more than its gross margin, we can infer it was more efficient with expenses such as marketing, R&D, and administrative overhead. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Sadly for Orion, its EPS declined by 10.1% annually over the last five years while its revenue grew by 2.4%. However, its operating margin didn't change during this time, telling us that non-fundamental factors such as interest and taxes affected its ultimate earnings. We can take a deeper look into Orion's earnings to better understand the drivers of its performance. A five-year view shows Orion has diluted its shareholders, growing its share count by 31.7%. This has led to lower per share earnings. Taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For Orion, its two-year annual EPS growth of 54.2% was higher than its five-year trend. This acceleration made it one of the faster-growing industrials companies in recent history. In Q1, Orion reported EPS at $0.01, up from negative $0.12 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Orion to perform poorly. Analysts forecast its full-year EPS of $0.17 will hit $0.16. We were impressed by how significantly Orion blew past analysts' revenue, EPS, and EBITDA expectations this quarter. We were also excited its full-year EBITDA guidance topped Wall Street's estimates. Zooming out, we think this was a good quarter with some key areas of upside. The stock traded up 10.6% to $7 immediately following the results. Orion had an encouraging quarter, but one earnings result doesn't necessarily make the stock a buy. Let's see if this is a good investment. We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
Orion Group Holdings, Inc.'s (NYSE:ORN) high institutional ownership speaks for itself as stock continues to impress, up 19% over last week
Institutions' substantial holdings in Orion Group Holdings implies that they have significant influence over the company's share price 51% of the business is held by the top 15 shareholders Analyst forecasts along with ownership data serve to give a strong idea about prospects for a business If you want to know who really controls Orion Group Holdings, Inc. (NYSE:ORN), then you'll have to look at the makeup of its share registry. And the group that holds the biggest piece of the pie are institutions with 72% ownership. Put another way, the group faces the maximum upside potential (or downside risk). And things are looking up for institutional investors after the company gained US$57m in market cap last week. The one-year return on investment is currently 50% and last week's gain would have been more than welcomed. In the chart below, we zoom in on the different ownership groups of Orion Group Holdings. Check out our latest analysis for Orion Group Holdings Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Orion Group Holdings does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Orion Group Holdings' historic earnings and revenue below, but keep in mind there's always more to the story. Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Our data indicates that hedge funds own 5.1% of Orion Group Holdings. That catches my attention because hedge funds sometimes try to influence management, or bring about changes that will create near term value for shareholders. Looking at our data, we can see that the largest shareholder is Brandes Investment Partners, LP with 8.5% of shares outstanding. With 6.7% and 5.2% of the shares outstanding respectively, BlackRock, Inc. and Royce & Associates, LP are the second and third largest shareholders. In addition, we found that Travis Boone, the CEO has 1.1% of the shares allocated to their name. After doing some more digging, we found that the top 15 have the combined ownership of 51% in the company, suggesting that no single shareholder has significant control over the company. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Shareholders would probably be interested to learn that insiders own shares in Orion Group Holdings, Inc.. It has a market capitalization of just US$312m, and insiders have US$22m worth of shares, in their own names. It is good to see some investment by insiders, but it might be worth checking if those insiders have been buying. The general public-- including retail investors -- own 16% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It's always worth thinking about the different groups who own shares in a company. But to understand Orion Group Holdings better, we need to consider many other factors. To that end, you should be aware of the 1 warning sign we've spotted with Orion Group Holdings . Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
