secwatch.observer — SEC 8-K summary
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Issuer:     Orion Group Holdings Inc (ORN)
CIK:        0001402829
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001402829-24-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402829/000140282924000023/0001402829-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402829/000140282924000023/orn-20240424x8k.htm
  HTML page:      https://secwatch.observer/filing/0001402829-24-000023

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