Orion delivers another strong third quarter

Orion Group Holdings (ORN) has reported another strong quarter and raised guidance for the full year.

According to Travis Boone, President and Chief Executive Officer of Orion Group, the company delivered another strong third quarter marked by top- and bottom-line results, robust cash generation, good bookings, and market-leading safety.

“We have also continued to advance strategic priorities, including expanding our bonding capacity by $400 million, continuing to strengthen our board with the appointment of Robert Ledford, and closing the sale of the East and West Jones property in October. With a strong balance sheet, disciplined capital deployment strategy, and focus on long-term strategic execution, our team is laying the foundation for Orion’s next phase of growth,” said Boone.

He also continued by saying that Orion is well positioned opposite multiple growing tailwinds that span robust AI investment, strong domestic focus on reshoring manufacturing, commercial investment in marine infrastructure, and defense expansion across the Pacific.

“Following another strong quarter of performance and with a favorable outlook, we are pleased to raise our annual guidance for revenue, adjusted EBITDA, and adjusted EPS for fiscal year 2025,” added Boone.

Next, the third quarter 2025 backlog included over $160 million in new awards and were evenly balanced between Orion’s Marine and Concrete segments.

Recent Marine awards included maintenance dredging for the U.S. Army Corp of Engineers, repair work on a marine transportation facility, and installation of a crane trestle for a major transportation project.

Highlights for the quarter ended September 30, 2025:

• Strong operational execution and continued advancement of strategic priorities
• Revenue of $225.1 million, GAAP Net Income of $3.3 million, Adjusted EBITDA of $13.1 million and Adjusted EPS of $0.09 were in line with management’s expectations
• Robust cash flow from operations of $23 million and free cash flow of $14 million attributable to effective working capital management
• Booked awards and change orders of $160 million in the quarter
• Closed on sale of East and West Jones property subsequent to quarter end
• Expanded bonding capacity by $400 million
• Management increases full year 2025 guidance

For the full third quarter results click here.