Q2 2026 Orion Group Holdings Inc Earnings Call Transcript
Key Points
- Orion Group Holdings Inc (ORN) reported an 8% increase in revenue for the second quarter compared to the same period last year.
- The concrete business posted excellent results with over 30% top-line growth and 45% adjusted EBITDA growth in the quarter.
- The company has a strong pipeline of opportunities, with approximately $27 billion in pursuit pipeline and $1.6 billion in projects quoted awaiting award.
- Orion Group Holdings Inc (ORN) recorded over $275 million in bookings in the quarter, representing a 1.25 times book-to-bill ratio.
- The company has 90% of its marine work under contract for the back half of the year, providing good visibility into future performance.
- The company's results for the quarter were negatively impacted by client delays in the marine business, affecting project starts and completions.
- Gross profit decreased by $3 million from the previous year due to lower marine volume and equipment utilization.
- Orion Group Holdings Inc (ORN) reported a GAAP loss of $4.1 million for the quarter, compared to a GAAP net income in the same quarter last year.
- The marine segment experienced a decline in top-line and profitability due to timing issues with project awards and startups.
- The company had to reset its full-year 2026 guidance to reflect timing shifts in the marine segment, indicating potential challenges in meeting initial expectations.
Good day and welcome to the Orion Group Holdings second quarter 2026 financial results conference call.
All participants will be in a listen-only mode. Should you need assistance 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 a touch tone phone. To withdraw your question please press star and then two.
Please note this event is being recorded.
I would now like to turn the conference over to Margaret Boyce, Investor Relations for Orion. Please go ahead, ma'am.
Thank you, operator, and thank you all for joining us today to discuss Orion Group Holdings' second quarter 2026 financial results. We issued our earnings release after market last night. It's available in the Investor Relations section of our website at oriongroupholdingsinc.com.
I'm here today with Travis Boone, Chief Executive Officer of
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