Quarterly ResultJul 29, 2026, 09:06 AM
Orion Group Holdings Q2 Net Loss $4.1M; Lowers 2026 Adj. EBITDA Guidance
AI Summary
Orion Group Holdings reported mixed financial results for the second quarter ended June 30, 2026, with an 8% increase in revenue to $221.9 million but a GAAP net loss of $4.1 million and a decrease in Adjusted EBITDA to $7.9 million. The company also announced a significant reduction in its full-year 2026 guidance for both Adjusted EBITDA and Adjusted EPS, primarily due to lower Marine segment performance. Despite the challenges, Orion reported strong project bookings of $277 million and an increased total backlog of $722 million.
Key Highlights
- Q2 2026 revenue increased 8% to $221.9 million from $205.3 million in Q2 2025.
- GAAP net loss for Q2 2026 was $4.1 million, or $(0.10) per diluted share, compared to net income of $0.8 million, or $0.02 per diluted share, in Q2 2025.
- Adjusted EBITDA for Q2 2026 was $7.9 million, down from $11.0 million in Q2 2025.
- Adjusted EPS for Q2 2026 was $0.02, down from $0.07 in Q2 2025.
- Booked awards and change orders totaled $277 million in the quarter, resulting in a book-to-bill ratio of 1.25X.
- Total backlog as of June 30, 2026, increased to $722 million from $640 million at December 31, 2025.
- Full-year 2026 Adjusted EBITDA guidance was reset to $50 million - $54 million, down from previous guidance of $54 million - $58 million.
- Full-year 2026 Adjusted EPS guidance was reset to $0.23 - $0.30, down from previous guidance of $0.36 - $0.42.
Price Impact
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