Orion Group Q2 net loss narrows to $0.3M; backlog soars to $818.7M

Orion Group Holdings Inc

2023-Q2 EPS reported -$0.40 revenue$341,708,000

Revenue of $182.5M, up 14.7% sequentially but down 6.2% YoY; net loss $0.3M vs $3.1M loss a year ago.
Concrete segment returned to monthly profitability in March; Marine won two Army Corps dredging contracts totaling $45M.
Backlog surged to $818.7M from $467.4M at March 31, mainly due to Pearl Harbor drydock award.
Adjusted EBITDA was $3.7M (2.0% margin), versus $5.7M (2.9% margin) in Q2 2022.
Total debt $36.9M, no revolver draws; new $103M ABL facility and $25M sale-leaseback liquidity executed.

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