|Over a week ago|
Orion Group announces contract award of about $30M » 16:0505/1905/19/20
Orion Group Holdings…
Orion Group Holdings announced a contract award totaling approximately $30M. The company's concrete segment has been awarded a contract for the construction of a multi-use tower structure located in Houston, Texas. The work is expected to begin this month and will be completed in the second half of 2021.
Orion Group to communicate updated guidance 'when appropriate' » 16:0504/2904/29/20
Stauffer concluded, "The full ramifications of this pandemic for our end markets are as yet unknown. To the extent we gain more visibility regarding the timing and execution of future awards, we will communicate our updated guidance when appropriate. As it relates to our liquidity position, our current levels of cash and revolver availability will provide us with the financial flexibility to continue to execute on projects in backlog and future pursuits. However, as always, we continue to evaluate opportunities to improve our liquidity position. With all of that said, we are encouraged by our strong operational performance in the first quarter and our ability to maintain our backlog at near-record levels. We view these positive trends as indicative of our progress towards sustained profitable growth and free cash flow generation."
Orion Group reports Q1 adjusted EPS 8c, consensus (8c) » 16:0404/2904/29/20
Reports Q1 revenue…
Reports Q1 revenue $166.6M, consensus $157.97M. "I want to sincerely thank our team members who are safely working at our project sites, yards, field support offices, and remote locations around the nation and outside the country. Our focus has been to ensure the health and safety of all our people," stated Mark Stauffer, Orion Group Holdings' President and Chief Executive Officer. "The current global healthcare crisis resulting from the COVID-19 virus has created significant uncertainty and disruption throughout the U.S. economy, however, Orion's operations have been determined to be a critical infrastructure service, and we continue to execute on our projects in backlog, with only minor disruptions. As we move toward the 're-opening' of the economy, it is unclear whether we may experience some delays in the timing and execution of new project awards later in the year, or the impacts if we see a second wave of virus spread. We will continue to monitor the latest developments and focus on the health and safety of our employees and executing the work in our backlog."
|Over a month ago|
Orion Group announces contract awards totaling $24M » 16:1603/1703/17/20
Orion Group announced…
Orion Group announced contract awards totaling approximately $24M. The company's Marine segment has been awarded two separate contracts to construct energy-related infrastructure on the Gulf Coast. Both projects will commence in the first quarter and be completed before the end of the year. CEO Mark Stauffer states: "Despite recent concerns over the economic impact of the COVID-19 pandemic, we remain highly confident in the long-term fundamentals of our end markets."
|Over a quarter ago|
Orion Group sees FY20 adj. EBITDA in low to mid $40M range vs. $36.8M in FY18 » 18:1402/2602/26/20
The company states :…
The company states : "We are looking forward to building on our success from the second half of 2019 throughout 2020. Our ISG initiatives in equipment and labor management are yielding results and we plan to continue to drive operational efficiencies in 2020. The continued progress of our operational improvement initiatives, coupled with our sizeable backlog and strong bidding environment, make us optimistic for our growth prospects for the year. More specifically, we expect these positive dynamics to enable us to generate adjusted EBITDA in the low to mid $40 million range for the full year of 2020."
Orion Group reports Q4 EPS 5c, consensus 1c » 18:1202/2602/26/20
Reports Q4 revenue…
Reports Q4 revenue $199.8M, consensus $163.72M. Reports Q4 adj. EBITDA $11.0M vs. $2.5M last year. CEO Mark Stauffer says: ""Our fourth quarter was a solid finish to a year of significant progress for Orion. We doubled the top-line compared to the prior year fourth quarter and posted our highest revenue quarter in company history, despite the seasonal factors that affect our final months of the year. Our strong revenue generation, along with the benefits of our Invest, Scale & Grow initiative and improved weather patterns led to substantially improved performance year-over-year. With respect to our segment performance, our concrete business generated significant year-over-year improvement facilitated by increased productivity as measured by greater cubic yard production and improved man hours per cubic yard. Even with the impact of customer scheduling delays, marine revenues and operating profit were up sharply in the fourth quarter of 2019, driven by execution on large construction projects in backlog. Also contributing to marine's year-over-year growth was increased dredging work, which led to higher fleet utilization and increased absorption of fixed costs. Our year-end backlog was up by 30% relative to the end of last year, reflecting our favorable end market positioning, and the high level of expansion activity in our markets. We currently see a robust bid market and pipeline of projects that we are pursuing. We see the Industrial end market as a particularly compelling opportunity for Orion and have been encouraged by our initial success in penetrating this space. Additionally, over the course of 2020, we will be focused on bidding and winning select larger and longer jobs that can produce greater visibility and stronger profit potential for our operations, and we feel confident that we have the infrastructure and people in place to be successful in this regard. "
Orion Group interim COO to conclude role effective Feb. 29th » 16:1202/2002/20/20
Orion Group announced…
Orion Group announced that Austin Shanfelter will conclude his role as Interim Chief Operating Officer effective February 29, 2020. Mr. Shanfelter was appointed Interim Chief Operating Officer on March 26, 2019, to assist with the implementation of the Company's Invest, Scale, and Grow initiative under its Process Improvement Plan, which has been substantially completed, while the Company conducted a search. After he concludes his role as Interim COO on February 29, 2020, Mr. Shanfelter will resume functioning as an independent member of the Company's Board of Directors and will be eligible to serve as a member of the various committees of the Board.
Orion Group awarded $47M contract » 16:1502/0402/04/20
Orion Group announced a…
Orion Group announced a contract award totaling approximately $47 million. The Company's Industrial unit has been awarded a contract from the Port of New Orleans for the Nashville Terminal container conversion project in New Orleans, Louisiana. The project calls for the demolition of an existing warehouse at the Nashville Terminal, upgrades and repairs to the existing wharf structure, and the installation of rails to support and accommodate four container cranes to expand the Port's service offerings. The work is expected to commence in the first quarter of 2020 and be complete in the third quarter of 2021.
Orion Group announces $18M in contract awards » 16:2001/2101/21/20
Orion Group announced…
Orion Group announced contract awards totaling $18 million. The company's Concrete Segment has been awarded has been awarded three separate contracts for structural projects in its Houston, Texas market totaling approximately $18 million. The company's work on these projects is expected to begin in the first quarter with a duration of approximately eleven months.
Orion Group awarded $22M contract in Texas » 16:0601/1401/14/20
Orion Group announced…
Orion Group announced contract awards totaling approximately $22M. The company's Concrete segment has been awarded three contracts for light commercial work in Texas. Two of these projects are located in the Dallas market and total approximately $14M, while the third is an $8M project in Houston. All three of these projects are expected to begin in the first quarter of 2020 with a duration of approximately nine months.