Orion Q1 net loss $0.19/sh; reaffirms FY2024 guidance; amends debt terms

Orion Group Holdings Inc

2024-Q1 EPS reported -$0.19 revenue$160,672,000

Revenue $160.7M (+0.9% YoY); gross margin improved to 9.7% from 3.7%.
GAAP net loss $6.1M ($0.19/sh); adjusted net loss $4.0M ($0.12/sh).
Adjusted EBITDA $4.1M, within guided range; reaffirms FY rev $860-950M, adj. EBITDA $45-50M.
Total backlog $756.6M; awarded $101M additional after quarter end.
Debt amendment: FY24 covenant threshold lowered; maturity extended to May 2027; required June prepayment reduced to $10M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Orion Group Holdings Inc reported full year 2024 results: revenue revenue in the range of $860 million to $950 million. Guidance reaffirmed.

Period: full year 2024
Revenue: revenue in the range of $860 million to $950 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

we are reconfirming our full year 2024 guidance for revenue in the range of $860 million to $950 million and anticipated Adjusted EBITDA in the range of $45 million to $50 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Orion Group Holdings Inc reported first quarter ended March 31, 2024 results: revenue Contract revenues of $160.7 million, net income Net loss for the first quarter was $6.1 million, EPS $0.19 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: Contract revenues of $160.7 million
Net income: Net loss for the first quarter was $6.1 million
EPS: $0.19 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

construction company, today reported its financial results for the first quarter ended March 31, 2024. Highlights for the quarter ended March 31, 2024: ● Contract revenues of $160.7 million ● GAAP net loss was $6.1 million or $0.19 per diluted share ● Adjusted net loss was $4.0 million or $0.12 per diluted share ● Adjusted EBITDA was $4.1 million ● Backlog and

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Source: SEC EDGAR

accession 0001402829-24-000023

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