Quarterly ResultApr 28, 2026, 04:06 PM
ORN Q1 Revenue +15% to $216.3M; GAAP EPS $0.12; Reaffirms FY26 Guidance
AI Summary
Orion Group Holdings Inc. reported a strong first quarter for 2026, with revenue increasing 15% to $216.3 million and GAAP net income reaching $4.7 million, or $0.12 per diluted share, reversing a loss from the prior year. The company saw robust performance in both its Marine and Concrete segments, driven by demand in waterfront infrastructure and data center development. Orion also reaffirmed its full-year 2026 guidance, projecting revenue between $900 million and $950 million and Adjusted EBITDA of $54 million to $58 million.
Key Highlights
- Q1 2026 Revenue increased 15% to $216.3 million from $188.7 million YoY.
- Q1 2026 GAAP Net Income was $4.7 million ($0.12 diluted EPS) vs. $(1.4) million loss YoY.
- Q1 2026 Adjusted EBITDA rose 7% to $8.7 million from $8.2 million YoY.
- Booked awards and change orders totaled $219 million in the quarter.
- Total backlog grew to $668 million as of March 31, 2026, from $640 million.
- Reaffirmed full-year 2026 revenue guidance of $900 million to $950 million.
- Reaffirmed full-year 2026 Adjusted EBITDA guidance of $54 million to $58 million.
- Acquired J.E. McAmis, leveraging their technical skillset.