secwatch.observer — SEC 8-K summary
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Issuer:     Orion Group Holdings Inc (ORN)
CIK:        0001402829
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001402829-23-000054
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Q3 revenue $168.5M, net loss $0.7M, backlog $877.5M up 60% YoY
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- Contract revenues of $168.5M, down 7.7% YoY; net loss $0.7M ($0.02/share) vs net income $0.2M in Q3 2022.
- Adjusted net income $0.8M ($0.02/share); Adjusted EBITDA $9.4M (5.6% margin), up from $8.8M (4.8%) in Q3 2022.
- Backlog $877.5M at Sep 30, 2023, up 60% from $548.6M a year ago, driven by Marine segment ($699.9M).
- Signed contract >$100M with Grand Bahama Shipyard for dry dock replacement; other awards totaling ~$121M.
- Concrete business profitable on unconsolidated operating income basis; CEO sees continued margin improvement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402829/000140282923000054/0001402829-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402829/000140282923000054/orn-20231025x8k.htm
  HTML page:      https://secwatch.observer/filing/0001402829-23-000054

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