Orion Group Holdings Posts First Quarter 2018 Results

Orion Group Holdings (ORN) today reported net income of $4.1 million ($0.14 diluted earnings per share) for the three months ended March 31, 2018.

These results compare to net loss of $1.8 million, ($0.07 diluted loss per share) for the same period a year ago, said the company.

During the first quarter, we had solid execution with continued strong market drivers,” said Mark Stauffer, Orion Group Holding’s President and Chief Executive Officer.

“While weather patterns impacted production in our Concrete segment, our Marine segment experienced solid execution. Overall, we remain pleased with the end market drivers across our business, and continue to expect 2018 will see improvements over 2017.”

Consolidated Results for First Quarter 2018 compared to First Quarter 2017

  • Contract revenues were $136.8 million, a decrease of 1.4%, as compared to revenues of $138.8 million. The slight decrease is attributed to the timing and mix of projects, including weather pattern disruptions in the Concrete segment;
  • Gross profit was $15.8 million, as compared to gross profit of $13.0 million. Gross profit margin was 11.6% as compared to 9.4%. This increase is primarily attributed to solid operational performance;
  • Selling, General and Administrative expenses were $15.0 million, as compared to $15.0 million;
  • Operating income was $7.1 million, as compared to an operating loss of $1.5 million;
  • EBITDA was $13.8 million, representing a 10.1% EBITDA margin, as compared to EBITDA of $6.1 million, or 4.4% EBITDA margin.

Orion Group provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its heavy Civil Marine Construction Segment and its Commercial Concrete Segment.

The company’s heavy civil marine construction segment services include marine transportation, facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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