Orion Group Q2 FY26 turns to GAAP net loss of $4.1 million; revenue rises 8% to $221.9 million

Orion Group Holdings posted Q2 GAAP net loss of $4.1 million, or $0.10 per diluted share, swinging from profit a year earlier.

Revenue rose 8% to $221.9 million, driven by Concrete growth and partly offset by lower Marine activity on project-start timing issues.

Adjusted EBITDA fell to $7.9 million from $11 million; gross profit slipped 11% to $22.9 million.

Backlog climbed to $722 million at June 30 from $640 million at Dec. 31; Q2 awards and change orders totaled $277 million.

Full-year outlook kept revenue at $900 million-$950 million, while adjusted EBITDA was cut to $50 million-$54 million.