Orion Announces Third Quarter Results
Orion Group Holdings, a leading specialty construction company based in Houston has announced its third quarter financial results. The company provides infrastructure and industrial services such as construction and dredging.
The quarter ended September 30 with a revenue of $225.1 million, a GAAP [generally accepted accounting principles] net income of $3.3 million, an adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] of $13.1 million and an Adjusted EPS [earnings per share] of $0.09. These totals were noted to be in line with management expectations.
“We delivered another strong third quarter marked by top- and bottom-line results, robust cash generation, good bookings and market-leading safety,” said Travis Boone, president and CEO of Orion Group Holdings. “We have also continued to advance strategic priorities, including expanding our bonding capacity by $400 million, continuing to strengthen our board with the appointment of Robert Ledford and closing the sale of the East and West Jones property in October. With a strong balance sheet, disciplined capital deployment strategy and focus on long-term strategic execution, our team is laying the foundation for Orion’s next phase of growth.”
The company reported contract revenues increased 10 percent from last quarter’s $205.3 million to $225.1 million, thanks to a surge in volume in marine and concrete segments. Contract revenue is down from last year’s third quarter sum, which was $226.7 million. Orion also reported an increase in gross profit, an achievement attributed to success in marine-based projects. Gross profit for the third quarter was $29.8 million, a 10 percent increase from 2024 third quarter results and a 16 percent increase from 2025 second quarter. Orion’s GAAP net income for the third quarter was down by $1 million from last year.
“As we enter the fourth quarter, Orion is well positioned opposite multiple growing tailwinds that span robust AI [artificial intelligence] investment, strong domestic focus on reshoring manufacturing, commercial investment in marine infrastructure and defense expansion across the Pacific,” Boone said. “Our talented team is poised to build on our momentum and capture the exciting opportunities on our doorstep.”
Orion reported a backlog of more than $160 million in new awards, balanced between marine and concrete segments.
Along with its third quarter results, Orion announced its updated annual 2025 financial guidance. Orion altered its revenue guidance to a range of $825 million to $860 million, an increase from its previous range of $800 million to $850 million. The EBITDA, EPS and reaffirm capital expenditures guidance ranges were also adjusted.
