Orion Group Holdings Inc (NYSE:ORN)
$ 7.34 1.04 (16.51%) Market Cap: 285.54 Mil Enterprise Value: 321.48 Mil PE Ratio: 0 PB Ratio: 2.01 GF Score: 63/100
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Q2 2024 Orion Group Holdings Inc Earnings Call Transcript

Jul 25, 2024 / 01:00 PM GMT
Release Date Price: $7.91 (-28.35%)

Key Points

Positve
  • Orion Group Holdings Inc (ORN) reported a revenue increase of 5% year-over-year, reaching $192 million in Q2 2024.
  • The company secured significant new contracts, including an $80 million project with Port Everglades and a $20 million project with Port Tampa Bay.
  • Orion Group Holdings Inc (ORN) has a strong backlog of $876 million, indicating robust future business.
  • The company has a pipeline of opportunities worth more than $14 billion, positioning it well for future growth.
  • The concrete segment showed improvement, with adjusted EBITDA margins increasing to 6.6% from 0.3% in the previous year.
Negative
  • Orion Group Holdings Inc (ORN) fell short of consensus expectations for Q2 2024, leading to a lowered annual guidance.
  • The company experienced logistical setbacks on two large projects, causing delays and impacting revenue recognition.
  • SG&A expenses increased to $21.1 million, up from $18.1 million in the same quarter last year, affecting profitability.
  • The company reported an adjusted net loss of $5.2 million for Q2 2024, compared to a loss of $4.5 million in the prior year period.
  • Margins in the marine segment retreated due to unabsorbed costs related to delayed projects and lower margins in the maintenance dredging business.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ORN.N - Orion Group Holdings Inc
Q2 2024 Orion Group Holdings Inc Earnings Call
Jul 25, 2024 / 01:00PM GMT

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Presentation
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Operator [1]
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Good day and welcome to the Orion Group Holdings Second Quarter of 2024 conference call. At this time, all participants are in a listen only mode and should you need any assistance today, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions to ask a question. You may press star, then one on your telephone keypad. And to withdraw a question, please press star then two. Please also note that this call is being recorded today. I would now like to turn the call over to Margaret Boyce of Investor Relations. Please go ahead.

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Unidentified_2 [2]
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