Orion Group Holdings Inc — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Orion Group reported Q3 2026 revenue of $256.2M (up 14% YoY from $225.1M), GAAP net income of $5.5M ($0.14/share), and Adjusted EBITDA of $17.9M (up 37% YoY from $13.1M). The company won positions on two additional U.S. Navy MACC contracts: the $9B VENTI MACC and the $700M NAVFAC Northwest Waterfront MACC. Total backlog stands at $645M (Marine $506M, Concrete $139M). Management reiterated full-year 2026 guidance: revenue $900–$950M (9% growth), Adjusted EBITDA $50–$54M (15% growth), Adjusted EPS $0.23–$0.30 (6% growth). Q3 new awards totaled $179M.
Why this rating
Solid organic growth (14% revenue, 37% EBITDA YoY) and strategic Navy contract awards are favorable, but backlog flat YoY and Marine EBITDA margin compression offset gains. At $360M market cap, $256M quarterly revenue (~28% of market cap annualized) is material but not transformational.
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