Orion Group Q3 revenue up 35% to $226.7M, net income $4.3M; guidance reaffirmed

Orion Group Holdings Inc

2024-Q3 EPS reported -$0.25 revenue$579,514,000

Contract revenues $226.7M, +34.5% YoY; net income $4.3M ($0.12 diluted) vs loss $0.7M prior year.
Adjusted net income $5.6M ($0.16 diluted); Adjusted EBITDA $15.2M (6.7% margin), +62% YoY.
Backlog at $690.5M; post-quarter awarded $116M in new contracts, including $30.6M marine and $18.2M concrete.
Raised $26.5M net proceeds from 5.6M share offering at $5.15/share; debt $28.0M, revolver undrawn.
FY2024 Adjusted EBITDA reaffirmed $40-$45M range, exceeding prior years.

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