Orion Group Holdings, Inc. today reported net income for the three months ended September 30, 2016, of $4.7 million ($0.17 diluted earnings per share).
These results compare to a net loss of $7.4 million ($0.27 diluted loss per share) for the same period a year ago.
“We believe our company is on the right track ,” said Mark Stauffer, Orion Group Holding Inc.’s President and Chief Executive Officer.
“As anticipated, third quarter consolidated results reflect significant year-over-year increases to EBITDA and EBITDA margin, underpinning the Company’s strategy and ability to overcome previously discussed challenges.
“With the structural changes we’ve made, the amount of backlog and low bid work we have, and the market opportunities we anticipate, we believe 2017 is set up to be a strong year with solid bottom line performance.”
Consolidated Results for the Third Quarter of 2016