---
schema_version: "secwatch.filing_event.v1"
accession: "0001402829-23-000005"
form_type: "8-K"
ticker: "ORN"
cik: "0001402829"
company_name: "Orion Group Holdings Inc"
filed_at: "2023-03-15T23:59:59+00:00"
generated_at: "2026-06-18T01:52:17.279326+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Orion Group Q4 revenue up 21% to $196.2M; net loss narrows; going concern risk; wins $448M Navy contract

## Summary
- Revenue $196.2M (+20.9% YoY); net loss $4.9M ($0.15/share) vs $8.8M loss in Q4 2021; adjusted EBITDA $3.2M.
- Entered Consent Letter with lenders; 2022 10-K will include going concern comment if new credit facility not secured by March 16.
- Won $582M in contracts post-quarter, including $448M Navy dry dock joint venture (completion expected Sept 2027).
- Announced three-point strategic plan: improve concrete profitability, strengthen business dev, invest in resources (refinancing, fleet, asset sales).
- Year-end backlog $448.8M; marine segment $216.7M, concrete $232.1M.

## SEC filing metadata
- accession: 0001402829-23-000005
- form_type: 8-K
- ticker: ORN
- cik: 0001402829
- company_name: Orion Group Holdings Inc
- filed_at: 2023-03-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402829/000140282923000005/0001402829-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402829/000140282923000005/orn-20230314x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402829-23-000005
- JSON: https://secwatch.observer/filing/0001402829-23-000005.json
- Plain text: https://secwatch.observer/filing/0001402829-23-000005.txt

## Key facts
- Earnings Releases
  Orion Group Holdings Inc reported the fourth quarter and full year ended December 31, 2022 results: revenue $196.2 million, net income $4.9 million or $0.15 per diluted share, EPS $0.15 per diluted share.
  - Period: the fourth quarter and full year ended December 31, 2022
  - Revenue: $196.2 million
  - Net income: $4.9 million or $0.15 per diluted share
  - EPS: $0.15 per diluted share
  - Result: reported results
  source text: Contract revenues increased 20.9% to $196.2 million from $162.3 million in the fourth quarter last year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402829/000140282923000005/0001402829-23-000005-index.htm
- Material Agreements
  Orion Group Holdings Inc entered into Consent Letter with Regions Bank, as Administrative Agent and Collateral Agent, and the Required Lenders (effective 2023-03-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Regions Bank, as Administrative Agent and Collateral Agent, and the Required Lenders
  - Effective: 2023-03-14
  source text: On March 14, 2023, the Company entered into a Consent Letter (the “Consent Letter”) by and between the Company, as borrower, certain subsidiaries of the Company (the “Guarantors”), Regions Bank, as Administrative Agent (in such capacity, the “Administrative Agent”) and Collateral Agent, and certain other banks and lenders party to the Consent Letter (the “Required Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402829/000140282923000005/0001402829-23-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.