NYSE$ORN
Orion Group Holdings Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Orion Group Holdings reported a strong third quarter with significant revenue and Adjusted EBITDA growth, driven by key marine projects and strategic market positioning.
Orion Group Holdings reported a strong third quarter with a 35% increase in contract revenue, a 62% increase in Adjusted EBITDA, and $35.2 million in cash flow from operations. The company's growth was primarily driven by the Pearl Harbor and Grand Bahama Shipyard Dry Dock projects. They are on track to deliver Adjusted EBITDA within the previously communicated guidance range of $40 million to $45 million for 2024.
- Contract revenues reached $226.7 million, a 35% increase year-over-year.
- GAAP net income was $4.3 million, or $0.12 per diluted share.
- Adjusted EBITDA was $15.2 million, marking a 62% increase year-over-year.
- Backlog and contracted or awarded projects totaled $806.7 million.
Headline financials
Revenue & EPS history
Orion Group · Revenue · Quarterly
$227M
Revenue by segment
Orion Group · $168M total across 2 segments · Q3 2023
- Concrete$87.6M-17.8%52.0%
- Marine$80.9M+6.3%48.0%
Forward guidance
Orion Group Holdings is targeting to deliver Adjusted EBITDA within the previously communicated guidance range of $40 million to $45 million for 2024.
Tailwinds
- Indicators of increasing market demand for specialty marine and concrete services.
- Government and private sector funding supporting project opportunities.
- Department of Defense's investment protecting US interests in the Pacific.
- Infrastructure Investment and Jobs Act funds beginning to trickle down.
- Data centers continue to generate opportunities.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.2%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+3.4%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+20.0%
Q1 2020
Best reaction
-33.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.9% | +26.4% | +18.6% | |
| Q4 2025 | +0.0% | -12.2% | -14.4% | |
| Q3 2025 | +11.7% | +4.7% | -2.1% | |
| Q1 2025 | +0.9% | +13.1% | +30.2% | |
| Q4 2024 | -10.4% | -16.4% | -22.0% | |
| Q3 2024 | +14.2% | +17.8% | +63.0% | |
| Q2 2024 | -33.4% | -28.6% | -34.0% | |
| Q1 2024 | -3.7% | -9.3% | +15.2% | |
| Q4 2023 | -11.9% | +0.4% | +20.6% | |
| Q3 2023 | -2.1% | -19.4% | -13.9% | |
| Q2 2023 | +6.7% | +19.8% | +36.7% | |
| Q1 2023 | -3.4% | -7.3% | +0.8% | |
| Q4 2022 | +1.1% | -2.2% | -7.5% | |
| Q3 2022 | -5.7% | -13.3% | -7.2% | |
| Q2 2022 | +5.9% | +6.7% | +26.4% | |
| Q1 2022 | +9.3% | +23.6% | +12.0% | |
| Q4 2021 | -23.7% | -28.6% | -14.0% | |
| Q3 2021 | -6.0% | -6.2% | -8.8% | |
| Q2 2021 | -3.5% | -7.3% | -5.5% | |
| Q1 2021 | -5.9% | -7.3% | +1.4% | |
| Q4 2020 | +0.3% | -3.3% | -3.3% | |
| Q3 2020 | +6.8% | +22.2% | +47.4% | |
| Q2 2020 | +9.2% | +12.9% | -0.4% | |
| Q1 2020 | +20.0% | +16.2% | +25.2% | |
| Q4 2019 | -6.1% | -8.6% | -40.7% | |
| Q3 2019 | +14.5% | +25.0% | +28.7% | |
| Q2 2019 | +12.5% | +7.4% | -0.7% | |
| Q1 2019 | -3.8% | -6.0% | -17.3% | |
| Q4 2018 | +0.6% | -8.5% | -20.4% | |
| Q3 2018 | +2.8% | -6.8% | -7.6% | |
| Q2 2018 | +1.7% | +0.2% | -6.2% | |
| Q1 2018 | +9.8% | +18.9% | +27.6% | |
| Q4 2017 | +7.4% | +9.8% | -0.8% | |
| Q3 2017 | +10.6% | +8.5% | +9.3% | |
| Q2 2017 | -8.7% | -10.6% | -13.6% | |
| Q1 2017 | -2.2% | +0.5% | -3.5% | |
| Q4 2016 | -3.9% | -7.8% | -12.9% | |
| Q3 2016 | +1.8% | +4.7% | +19.0% | |
| Q2 2016 | -3.5% | +6.9% | +5.4% | |
| Q1 2016 | -0.4% | — | — | |
| Q4 2015 | +11.0% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | -10.4% | — | — | |
| Q4 2014 | +3.2% | — | — | |
| Q3 2014 | +12.0% | — | — | |
| Q2 2014 | -4.1% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | +10.6% | — | — | |
| Q3 2013 | -0.8% | — | — | |
| Q2 2013 | -16.4% | — | — | |
| Q1 2013 | +11.6% | — | — | |
| Q4 2012 | +4.7% | — | — | |
| Q3 2012 | +5.5% | — | — | |
| Q2 2012 | +7.5% | — | — | |
| Q1 2011 | -4.0% | — | — | |
| Q1 2012 | +5.1% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q4 2011 | -0.8% | — | — | |
| Q3 2010 | -4.5% | — | — | |
| Q3 2011 | -4.5% | — | — | |
| Q2 2011 | -16.8% | — | — | |
| Q2 2010 | -16.8% | — | — | |
| Q4 2010 | -16.8% | — | — | |
| Q1 2010 | +3.4% | — | — |
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