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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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