Orion Group Holdings (ORN) Company Report

Orion Corporation announced it will receive a EUR 180 million milestone payment in the fourth quarter of 2025, related to sales of Nubeqa®.
This milestone payment has led Orion to update its full-year outlook for 2025 for both net sales and operating profit.
The new net sales estimate for 2025 is EUR 1,820 million to EUR 1,900 million, an increase from the previous estimate of EUR 1,640 million to EUR 1,720 million.
The new operating profit estimate for 2025 is EUR 590 million to EUR 670 million, significantly higher than the prior estimate of EUR 410 million to EUR 490 million.

2 days ago

Press Release

UAB "Atsinaujinančios energetikos investicijos" Completes Bond Issues and Exchange Tender Offer

ORN

Debt Issuance

UAB "Atsinaujinančios energetikos investicijos" completed two bond issues on October 31, 2025, raising EUR 0.419 million for 2025 / 2027 green bonds at an 8% yield and EUR 14.346 million for 2025 / 2026 bonds at an 8.50% yield.
The proceeds from these new bond issues are intended to refinance existing bonds (ISIN LT0000405938).
An exchange tender offer for the existing bonds (ISIN LT0000405938) was also completed on October 31, 2025, resulting in a remaining nominal value of EUR 44,494,000 for the 2021 / 2025 bonds.
The newly issued bonds, with an issue date of November 4, 2025, are expected to be listed on the Baltic Bond list of Nasdaq Vilnius within 30 days.

Nov 3, 2025, 7:17 AM

Press Release

Orion Group Holdings Reports Strong Q3 2025 Results and Raises Full-Year Guidance

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group Holdings reported Q3 2025 revenue of $225 million, adjusted EBITDA of $13 million, and adjusted EPS of $0.09 per share. The company also raised its FY 2025 annual guidance for revenue to $825 million to $860 million, adjusted EBITDA to $44 million to $46 million, and adjusted EPS to $0.18 to $0.22.
The company closed the sale of its East and West Jones property in October for $23.5 million, resulting in over $22 million in cash upside net of commissions and taxes, which will be used to reduce debt and for general corporate purposes. Orion also expanded its bonding capacity by $400 million and was shortlisted on Strategic INDOPACOM MACCs.
During Q3 2025, Orion booked over $160 million in new contracts and change orders, and its backlog stood at $679 million at quarter-end. The aggregate pipeline is $18 billion, with over $1 billion of opportunities awaiting award.

Oct 29, 2025, 8:09 PM

8-K

Orion Group Holdings Reports Q3 2025 Results and Raises Full-Year Guidance

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group Holdings reported Q3 2025 Marine revenues of $143 million, an increase of 2% over Q3 2024, with adjusted EBITDA growing over 50% to $18 million and a 12% margin. In contrast, the Concrete segment incurred a $4 million adjusted EBITDA loss on $82 million in revenue for the quarter, compared to a $4 million profit in Q3 2024.
The company increased its full-year 2025 guidance, with revenue now projected between $825 million and $860 million, adjusted EBITDA between $44 million and $46 million, and adjusted EPS between $0.18 and $0.22.
In October, the sale of the East West Jones property generated a cash upside of over $22 million (net of commissions and taxes), which has already been received and will be used to pay down debt and for general corporate purposes.
Quarter-end backlog stood at $679 million, with $160 million in new awards and change orders added during the quarter. The pipeline of bids submitted and awaiting award decisions remains robust at over $1 billion, consistently around $1.2 billion, with data centers representing 27% of the pipeline and 27% of Concrete's Q3 revenue.

Oct 29, 2025, 1:00 PM

Transcript

Orion Group Holdings Updates 2025 Guidance and Reports Q3 2025 Results

ORN

Guidance Update

Earnings

New Projects/Investments

Orion Group Holdings updated its full-year 2025 guidance, increasing revenue to $825 million to $860 million, adjusted EBITDA to $44 million to $46 million, and adjusted EPS to $0.18 to $0.22. For Q3 2025, Marine revenues increased 2% to $143 million with adjusted EBITDA growing over 50% to $18 million (a 12% margin), while Concrete revenues decreased 5% to $82 million and incurred a $4 million loss in adjusted EBITDA.
The company closed the sale of the East West Jones property in October 2025, resulting in $22 million in net cash proceeds, which will be used for debt reduction and general corporate purposes. Net debt at quarter-end was $21 million.
Backlog stood at $679 million at quarter-end, with $160 million in new awards and change orders added in Q3 2025. The pipeline of projects awaiting award decisions is over $1 billion, specifically $1.2 billion, with data centers representing 27% of this pipeline and 27% of Concrete's Q3 revenue.

Oct 29, 2025, 1:00 PM

Transcript

Orion Group Holdings Updates Full-Year 2025 Guidance and Reports Q3 2025 Results

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group Holdings (ORN) updated its full-year 2025 guidance, increasing revenue to $825 million to $860 million, adjusted EBITDA to $44 million to $46 million, and adjusted EPS to $0.18 to $0.22.
The company reported Q3 2025 Marine revenues of $143 million with adjusted EBITDA growing over 50% to $18 million (a 12% margin), while Concrete revenues were $82 million but incurred a $4 million loss in adjusted EBITDA.
At quarter-end, backlog reached $679 million, with $160 million in new awards added during the quarter, and the pipeline of projects awaiting award decisions stands at approximately $1.2 billion.
The sale of the East West Jones property closed in October, generating over $22 million in net cash, which will be used to pay down debt and for general corporate purposes.

Oct 29, 2025, 1:00 PM

Transcript

Orion Group Holdings Reports Q3 2025 Results and Increases Fiscal Year 2025 Guidance

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group Holdings reported Q3 2025 revenue of $225.1 million, Adjusted EBITDA of $13.1 million, and Adjusted EPS of $0.09 for the quarter ended September 30, 2025.
The company generated robust cash flow from operations of $23 million and free cash flow of $14 million during Q3 2025.
Management increased its Fiscal Year 2025 guidance for revenue to a range of $825 million to $860 million, Adjusted EBITDA to $44 million to $46 million, and Adjusted EPS to $0.18 to $0.22.
As of September 30, 2025, total backlog was $679 million, and the company expanded its bonding capacity by $400 million.

Oct 29, 2025, 12:11 PM

8-K

Orion Group Holdings Reports Q3 2025 Results and Raises FY 2025 Guidance

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group Holdings reported revenue of $225.1 million, GAAP Net Income of $3.3 million, and Adjusted EPS of $0.09 for the third quarter ended September 30, 2025.
The company generated $23 million in cash flow from operations and $14 million in free cash flow during Q3 2025.
Orion increased its full-year 2025 guidance for revenue to a range of $825 million to $860 million, Adjusted EBITDA to $44 million to $46 million, and Adjusted EPS to $0.18 to $0.22.
Subsequent to the quarter end, Orion expanded its bonding capacity by $400 million and closed the sale of its East and West Jones property for $23.5 million.

Oct 28, 2025, 8:17 PM

Press Release

Orion Group Reports Q3 and Nine-Month 2025 Results, Updates Full-Year Outlook

ORN

Earnings

Guidance Update

New Projects/Investments

Orion Group reported net sales of EUR 423.2 million and operating profit of EUR 121.0 million for July–September 2025, with the comparison period including EUR 130 million in major milestone payments. For January–September 2025, net sales were EUR 1,194.2 million and operating profit was EUR 303.5 million.
Basic earnings per share were EUR 0.68 for Q3 2025 and EUR 1.71 for the first nine months of 2025.
The company specified its 2025 outlook, now estimating net sales between EUR 1,640 million and EUR 1,720 million and operating profit between EUR 410 million and EUR 490 million.
Orion discontinued the development of ODM-105 for insomnia and plans to initiate a Phase 2 program for ODM-212 in oncology next year.

Oct 28, 2025, 10:00 AM

Press Release

Neinor Homes Completes €140 Million Accelerated Bookbuild Offering

ORN

New Projects/Investments

Neinor Homes successfully raised €140 million through an accelerated bookbuild offering (ABB) on October 27, 2025, by issuing 8,900,190 new shares at €15.73 per share.
Orion, Neinor’s largest shareholder, subscribed €100 million of the offering, with existing shareholders contributing an additional €40 million.
The net proceeds will be used to pursue further growth opportunities in the Build-to-Sell and emerging Alternative Living segments, following the full funding of the AEDAS acquisition.
This capital raise strengthens Neinor’s balance sheet and enhances its capacity to execute on its pipeline, supporting expansion in the Spanish residential market which is described as structurally undersupplied.

Oct 27, 2025, 12:52 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Orion Group Holdings.

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