Orion Group Holdings Reports Strong First Quarter
Orion Group Holdings, Inc., a specialty construction company, recently reported its financial results for the first quarter ending March 31.
The company reported revenue of $216 million, GAAP net income of $4.7 million or $0.12 per diluted share, adjusted EBITDA of $8.7 million and Adjusted EPS of $0.05 per diluted share.
Cash flow from operations was $4.9 million, and the company booked awards and change orders of $219 million in the quarter.
“We delivered a solid start to the year, supported by disciplined operational performance and a healthy $24 billion pipeline of opportunities,” said Travis Boone, president and CEO of Orion. This translated into top- and bottom-line growth and good cash flow generation. Our teams continue to execute at a high level, positioning us well for the remainder of 2026.”
First quarter 2026 backlog included approximately $219 million in new awards. Recent marine awards included maintenance dredging and a road bridge project for the Army in Hawaii, and a petroleum terminal expansion project.
As of March 31, 2026, current assets were $261 million, including unrestricted cash and cash equivalents of $6.3 million. Total debt outstanding was $72 million, with $53 million of outstanding borrowings under the UMB Credit Facility. The company incurred borrowings of approximately $47 million under the UMB Credit Facility.
A live audio webcast of the first quarter conference call is available on the Investor Relations section of Orion’s website at https://www.oriongroupholdingsinc.com/investor/ and is archived for replay.
