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Jun 30, 2023
Orion Group Q2 2023 Earnings Report
Orion Group's second quarter performance improved significantly, driven by strategic execution and long-term growth initiatives.
Key Takeaways
Orion Group Holdings reported a sequential increase in contract revenues and a return to profitability for its Concrete segment during the second quarter of 2023. The company's strategic focus on de-risking the business and strengthening the balance sheet has positioned it for accelerated growth.
Contract revenues increased 14.7% sequentially.
Net loss was $0.3 million, or $0.01 per diluted share.
Adjusted EBITDA was $3.7 million.
Backlog and awarded contracts totaled $903 million at quarter end.
Orion Group
Orion Group
Orion Group Revenue by Segment
Revenue by Segment
Marine Segment Revenue
CapyFin.comConcrete Segment Revenue
CapyFin.com Forward Guidance
The company anticipates continued improvement for the remainder of the year and beyond, driven by a stronger fundamental position and balanced growth catalysts in its Concrete and Marine businesses.
Positive Outlook
- Optimistic about continued improvement for the rest of this year and beyond.
- Company is now fundamentally stronger and well positioned for accelerated growth.
- Concrete business is more driven by the private sector.
- Marine business is driven by the public sector.
- Both businesses can balance one another during challenging times and different business cycles.
Revenue & Expenses
Visualization of income flow from segment revenue to net income