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Dec 31, 2024
Orion Group Q4 2024 Earnings Report
Orion Group Holdings reported increased revenue and profitability for Q4 2024.
Key Takeaways
Orion Group Holdings achieved a 7.6% revenue growth in Q4 2024, reaching $216.9 million. The company posted a net income of $6.8 million, reversing the prior year's loss. Adjusted EBITDA increased by 15.3% to $17.1 million. The company's backlog stood at $977.3 million, including new awards secured after quarter-end.
Contract revenues increased by 7.6% year-over-year to $216.9 million.
GAAP net income was $6.8 million, compared to a net loss of $4.4 million in Q4 2023.
Adjusted EBITDA grew by 15.3% to $17.1 million.
Backlog, including new contract awards, reached $977.3 million.
Revenue by Segment
Forward Guidance
Orion expects revenue growth and margin expansion in 2025, with revenue projected between $800 million and $850 million. Adjusted EBITDA is forecasted between $42 million and $46 million, while adjusted EPS is expected to range from $0.11 to $0.17.
Positive Outlook
- Revenue forecasted between $800 million and $850 million, slightly higher than 2024.
- Adjusted EBITDA projected between $42 million and $46 million.
- Continued investment in strategic projects to drive future growth.
- Strong pipeline of $16 billion in potential contracts.
- Expanded project awards, including $250 million in new contracts in early 2025.
Challenges Ahead
- Margin expansion remains a focus but could be impacted by higher costs.
- Increased SG&A expenses, which grew to 9.9% of revenue in Q4 2024.
- Backlog slightly decreased year-over-year, despite new awards.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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