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Mar 31, 2022
Orion Group Q1 2022 Earnings Report
Orion Group Holdings reported a net loss and an increase in contract revenues for the first quarter of 2022.
Key Takeaways
Orion Group Holdings reported a net loss of $4.9 million, or $0.16 diluted loss per share, for the first quarter ended March 31, 2022. Excluding non-recurring items, the adjusted net loss was $3.2 million, or $0.10 diluted loss per share. Contract revenues increased by 14.1% to $174.9 million compared to $153.3 million in the same period last year.
Operating loss was $2.9 million compared to operating income of $2.1 million for the first quarter of 2021.
Net loss was $4.9 million ($0.16 diluted loss per share) compared to net income of $0.9 million ($0.03 diluted earnings per share) for the first quarter of 2021.
Adjusted EBITDA was $5.2 million compared to adjusted EBITDA of $9.5 million for the first quarter of 2021.
Backlog at the end of the first quarter was $604.1 million on a first quarter book-to-bill of 1.08x.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
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