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Orion Group Q1 2025 Earnings Report
Orion Group Holdings reported its financial results for the first quarter ended March 31, 2025, showing increased revenues and improved profitability compared to the prior year.
Key Takeaways
Orion Group Holdings started 2025 strongly, with first-quarter revenue increasing 17% to $189 million and Adjusted EBITDA doubling. The company secured $349 million in new contract awards year-to-date and reiterated its full-year 2025 guidance.
Contract revenues increased 17.4% to $188.7 million compared to the prior year period.
GAAP net loss improved to $1.4 million ($0.04 per diluted share) from $6.1 million ($0.19 per diluted share) year-over-year.
Adjusted EBITDA increased 100.4% to $8.2 million compared to the prior year period.
New contract wins totaled $349 million year-to-date, contributing to a contracted backlog of $890.9 million.
Orion Group
Orion Group
Orion Group Revenue by Segment
Revenue by Segment
Marine Segment Revenue
CapyFin.comConcrete Segment Revenue
CapyFin.com Forward Guidance
Orion Group Holdings reiterated its full-year 2025 guidance, expecting revenue between $800 million and $850 million and Adjusted EBITDA between $42 million and $46 million, driven by strong demand and federal policy initiatives.
Positive Outlook
- Strong demand across markets and repeat business with partners and clients.
- New federal policy initiatives expected to support long-term growth, especially in defense, shipbuilding, infrastructure, and reshoring of manufacturing.
- No material impact expected from tariffs on current projects.
- No pull back on U.S. government's China deterrence policy.
- Continued preparation for transformational growth in 2026 and beyond.
Challenges Ahead
- Potential for unforeseen productivity delays impacting contract profitability.
- Risk of contract cancellation by customers for unforeseen reasons.
- Delays or decreases in funding by customers or governmental budgetary constraints.
- Potential contract options may not be awarded and are at the sole discretion of the customer.
- Seasonally lower productivity in the concrete segment impacting margins in the first quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income