Orion Group Holdings publishes Q3 2026 financial results call transcript
ORN•Orion Group Holdings reiterated 2026 guidance, expecting revenue of $900 million–$950 million and adjusted EBITDA of $50 million–$54 million, near the upper end. Third-quarter revenue rose 14% to $256 million, and adjusted EBITDA increased 37% to $18 million.
1. Quarterly results and outlook
Orion Group Holdings reiterated its 2026 guidance at an October 28 earnings call, saying it expects results near the upper end of its guidance ranges: revenue of $900 million–$950 million and adjusted EBITDA of $50 million–$54 million. Third-quarter revenue rose 14% to $256 million, while adjusted EBITDA increased 37% to $18 million.
2. Bids and project backlog
Submitted bids awaiting awards totaled $2 billion, compared with just over $1 billion at the start of the year. Management attributed the increase to slower customer awards rather than weaker demand. A fully funded federal marine project worth around $200 million is expected to enter backlog in mid-to-late 2027.
