Quarterly ResultJul 28, 2026, 04:07 PM
Orion Group Q2 Revenue $221.9M, Net Loss $4.1M; Resets FY26 Guidance
AI Summary
Orion Group Holdings, Inc. reported its second quarter 2026 financial results, with revenue increasing 8% year-over-year to $221.9 million. However, the company posted a GAAP net loss of $4.1 million, or $0.10 per diluted share, compared to net income in the prior year. Adjusted EBITDA for the quarter was $7.9 million, a decrease from $11.0 million in Q2 2025, primarily due to timing of project start-ups and lower equipment utilization in the Marine segment, despite strong performance from the Concrete business. Consequently, Orion Group reset its full-year 2026 guidance for Adjusted EBITDA and Adjusted EPS downwards, while maintaining its revenue outlook.
Key Highlights
- Q2 2026 Revenue: $221.9 million, an 8% increase from $205.3 million in Q2 2025.
- Q2 2026 GAAP Net Loss: $4.1 million, or $0.10 per diluted share, compared to net income of $0.8 million ($0.02 EPS) in Q2 2025.
- Q2 2026 Adjusted EBITDA: $7.9 million, down from $11.0 million in Q2 2025.
- Booked awards and change orders for Q2 2026 totaled $277 million, with 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 reset to $50 million - $54 million, down from $54 million - $58 million.
- Full-year 2026 Adjusted EPS guidance reset to $0.23 - $0.30, down from $0.36 - $0.42.
- Concrete business posted over 30% revenue growth and over 45% adjusted EBITDA growth in Q2 2026.
Price Impact
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