Orion Group Holdings
Marine construction and dredging contractor with a separate Texas-and-Florida concrete construction business.
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Profile
Builds and dredges marine infrastructure across the U.S. coastline and Caribbean Basin while separately pouring concrete for large commercial and public projects concentrated in Texas and Florida. Marine work depends heavily on federal and state government contracts; Concrete work is mostly private-sector, with data centers an emerging growth driver.
Builds and dredges marine infrastructure along the U.S. coastline, Alaska, Hawaii, Canada, and the Caribbean Basin, and separately pours concrete for large commercial, industrial, and public projects across Texas metro areas and Florida. Marine work leans on federal, state, and local government contracts, including Navy and Army Corps of Engineers projects; Concrete work is mostly private-sector.
Marine construction dates to a 1994 founding; the Concrete segment arrived through a 2015 acquisition. A multi-year subcontract rebuilding a dry dock at Pearl Harbor Naval Shipyard has driven much of recent Marine revenue, while data-center construction is a growing line inside Concrete.
Both markets are described internally as highly fragmented, split among regional rivals rather than a few national competitors. A 2026 acquisition added jetty, breakwater, and dam-spillway construction capabilities to the Marine business, extending its scope beyond dredging and pier work.
Company facts
Key statistics
Year to date −7.2% · Average volume (30d) 600.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior target | Target |
|---|---|---|---|---|
| Jul 30, 2026 | Roth Capital | Target | $17 | $15 |
| Feb 10, 2026 | Roth Capital | Target | $17 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.06 | $0.02 | −68.0% | $225.7M | $221.9M | −1.7% | −24.14% |
| Apr 28, 2026Q1 FY26 | $0.00 | $0.05 | — | $198.1M | $216.3M | +9.2% | +3.89% |
| Mar 3, 2026Q4 FY25 | $0.06 | $0.08 | +33.3% | $222.0M | $233.2M | +5.1% | −0.07% |
| Oct 28, 2025Q3 FY25 | $0.06 | $0.09 | +50.0% | $220.0M | $225.1M | +2.3% | +17.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $188.7M | $205.3M | $225.1M | $233.2M | $216.3M | $221.9M | |
| Gross profit | $23.0M | $25.8M | $29.8M | $27.1M | $25.9M | $22.9M | |
| Operating income | $833.0K | $3.4M | $5.3M | $4.0M | −$830.0K | −$1.5M | |
| Net income | −$1.4M | $841.0K | $3.3M | −$240.0K | $4.7M | −$4.1M | |
| Diluted EPS | −$0.04 | $0.02 | $0.08 | −$0.01 | $0.12 | −$0.10 | |
| Gross margin | 12.2% | 12.6% | 13.2% | 11.6% | 12.0% | 10.3% | |
| Operating margin | 0.4% | 1.7% | 2.4% | 1.7% | -0.4% | -0.7% |
Fiscal years (4-quarter sums)FY21 $601.4M · FY22 $748.3M · FY23 $711.8M · FY24 $796.4M · FY25 $852.3M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.5M · Total debt $148.8M · Total assets $496.2M · Shareholders' equity $164.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 40.50M · Float 38.19M · 94.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Brandes Investment Partners, LP | 5.16M | 12.74% | 13F | May 15, 2026 |
| BlackRock, Inc. | 2.74M | 6.76% | 13F | May 13, 2026 |
| Vanguard Capital Management LLC | 1.66M | 4.10% | 13F | May 15, 2026 |
| Wasatch Advisors LP | 1.66M | 4.09% | 13F | Apr 21, 2026 |
| Dimensional Fund Advisors LP | 1.59M | 3.93% | 13F | May 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 31, 2026 | Robert Ledford | director | +20,000 | $9.62 |
| Jul 31, 2026 | Mary E. Sullivan | director | +3,000 | $9.79 |
| Jul 31, 2026 | Alison Gaut Vasquez | officer: EVP AND CFO | +5,025 | $9.95 |
| Jul 31, 2026 | Edward Chipman Earle | officer: EVP & GENERAL COUNSEL | +5,000 | $9.81 |
| May 5, 2026 | Margaret M. Foran | director | −10,695 | $15.70 |
Peers
- Granite Construction
Heavy-civil contractor overlapping in marine, dredging, and Navy/Corps work
- Southland
Texas-based heavy-civil contractor building bridges, marine terminals, dredging
- Tutor Perini
Diversified US contractor whose Civil segment overlaps in Navy shipyard work
- Sterling Infrastructure
Diversified US contractor spanning e-infrastructure and concrete work
- Primoris Services
Diversified utility and energy contractor with narrow marine/pipeline overlap
- Matrix Service
Energy-focused E&C firm with narrow marine terminal/dock overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Orion Group Holdings | $9.38 | +1.21% | $375.4M | 98.6 | 25.5 | 0.4 | +8.1% |
| Granite Construction | $122.52 | −0.02% | $5.36B | — | 17.5 | 1.1 | +29.3% |
| Southland | $0.6534 | +1.74% | $35.4M | — | — | 0.1 | −47.4% |
| Tutor Perini | $88.84 | 0.00% | $4.69B | 38.3 | 20.0 | 0.8 | +19.2% |
| Sterling Infrastructure | $472.30 | +0.40% | $14.44B | 33.9 | 21.2 | 4.2 | +90.1% |
| Primoris Services | $73.53 | +0.53% | $3.97B | 28.8 | 18.5 | 0.5 | −10.7% |
| Matrix Service | $10.83 | +0.09% | $304.7M | — | 15.6 | 0.4 | +3.3% |
| Median | 33.9 | 18.5 | 0.7 | +11.2% |