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Orion Group Holdings Reports First Quarter 2024 Results

Orion Group Holdings, Inc. Common (ORN) 
Last orion group holdings, inc. common earnings: 4/29 04:04 pm Check Earnings Report
Company Research Source: GlobeNewswire
HOUSTON, April 24, 2024 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today reported its financial results for the first quarter ended March 31, 2024. Highlights for the quarter ended March 31, 2024: Contract revenues of $160.7 millionGAAP net loss was $6.1 million or $0.19 per diluted shareAdjusted net loss was $4.0 million or $0.12 per diluted shareAdjusted EBITDA was $4.1 millionBacklog and contracts awarded subsequent to quarter end totaled $857 million See definitions and reconciliation of non-GAAP measures elsewhere in this release. Management Commentary “We generated first quarter revenue of $161 million and Adjusted EBITDA of $4.1 million. We expect revenue to continue to build throughout the year with our current backlog and strong pipeline of opportunities. We remain focused on increasing our margins as a top priority. In addition to first quarter being our seasonally slowest period, revenue was Show less Read more
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