Aaron Spychalla

Julio Romero

Brent Thielman

Jason Ursaner

Laura Maher

Liam Burke

Min Chung Cho

- Orion Group Holdings reported **Q3 2025 revenue of $225 million**, **adjusted EBITDA of $13 million**, and **adjusted EPS of $0.09 per share**.  **[1402829_0001402829-25-000060_orn-20251029x8k.htm:3]**  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**.  **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:4]** 
- 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.  **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:3]** **[1402829_0001402829-25-000060_orn-20251029x8k.htm:3]** **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:7]**  Orion also **expanded its bonding capacity by $400 million** and was **shortlisted on Strategic INDOPACOM MACCs**.  **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:1]** 
- During Q3 2025, Orion **booked over $160 million in new contracts and change orders**, and its **backlog stood at $679 million** at quarter-end.  **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:3]** **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:4]**  The aggregate pipeline is **$18 billion**, with **over $1 billion of opportunities awaiting award**.  **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:3]** **[1402829_0001402829-25-000060_orn-20251029xex99d1.htm:5]**

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

- 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**.  **[0001402829_2216219_0]**  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.  **[0001402829_2216219_0]** 
- 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**.  **[0001402829_2216219_0]** 
- 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.  **[0001402829_2216219_0]** **[0001402829_2216219_3]** 
- Quarter-end backlog stood at **$679 million**, with **$160 million** in new awards and change orders added during the quarter.  **[0001402829_2216219_0]**  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**.  **[0001402829_2216219_1]**

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

- 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**.  **[0001402829_2216279_0]**  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.  **[0001402829_2216279_0]** 
- 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.  **[0001402829_2216279_0]** **[0001402829_2216279_3]**  Net debt at quarter-end was **$21 million**.  **[0001402829_2216279_0]** 
- Backlog stood at **$679 million** at quarter-end, with **$160 million** in new awards and change orders added in Q3 2025.  **[0001402829_2216279_0]**  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.  **[0001402829_2216279_1]**

Orion Group Holdings Updates 2025 Guidance and Reports Q3 2025 Results

- 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**.  **[0001402829_2211380_0]** 
- 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.  **[0001402829_2211380_0]** 
- 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**.  **[0001402829_2211380_0]** **[0001402829_2211380_1]** 
- 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.  **[0001402829_2211380_0]**

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

- 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.  **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:0]** **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:1]** 
- The company generated **robust cash flow from operations of $23 million** and **free cash flow of $14 million** during Q3 2025.  **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:0]** 
- 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**.  **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:0]** **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:1]** 
- As of September 30, 2025, total backlog was **$679 million**, and the company expanded its bonding capacity by **$400 million**.  **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:0]** **[1402829_0001402829-25-000057_orn-20251028xex99d1.htm:1]**

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

- 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.  **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_0]** **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_1]** 
- The company generated **$23 million in cash flow from operations** and **$14 million in free cash flow** during Q3 2025.  **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_0]** 
- 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**.  **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_0]** 
- 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**.  **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_0]** **[1402829_67fbfbbbd1e742919d5a0319f21e1a2f_2]**

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

- 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.  **[1402829_9616f2d76d914df08d0db3e745f45b49_0]** **[1402829_9616f2d76d914df08d0db3e745f45b49_1]**  For January–September 2025, net sales were **EUR 1,194.2 million** and operating profit was **EUR 303.5 million**.  **[1402829_9616f2d76d914df08d0db3e745f45b49_0]** **[1402829_9616f2d76d914df08d0db3e745f45b49_1]** 
- **Basic earnings per share** were **EUR 0.68** for Q3 2025 and **EUR 1.71** for the first nine months of 2025.  **[1402829_9616f2d76d914df08d0db3e745f45b49_0]** **[1402829_9616f2d76d914df08d0db3e745f45b49_1]** 
- 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**.  **[1402829_9616f2d76d914df08d0db3e745f45b49_0]** **[1402829_9616f2d76d914df08d0db3e745f45b49_2]** 
- Orion **discontinued the development of ODM-105** for insomnia and plans to initiate a **Phase 2 program for ODM-212** in oncology next year.  **[1402829_9616f2d76d914df08d0db3e745f45b49_2]**

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

- 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**.  **[1402829_0d68114acc194f2cb35da0cb2aa817de_0]** 
- **Orion**, Neinor’s largest shareholder, subscribed **€100 million** of the offering, with existing shareholders contributing an additional **€40 million**.  **[1402829_0d68114acc194f2cb35da0cb2aa817de_0]** 
- 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.  **[1402829_0d68114acc194f2cb35da0cb2aa817de_0]** 
- 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.  **[1402829_0d68114acc194f2cb35da0cb2aa817de_0]**

Neinor Homes Completes €140 Million Accelerated Bookbuild Offering

- **Orion**, Neinor’s largest shareholder, subscribed **€100 million** in Neinor Homes' recent **€140 million** accelerated bookbuild offering (ABB).  **[1402829_c0850328b00f4b1090cdef7021b06882_0]** 
- This investment, part of an issuance of **8,900,190 new shares** at **€15.73 per share**, reinforces Orion's long-term commitment to Neinor Homes and its confidence in the company's equity-efficient growth strategy.  **[1402829_c0850328b00f4b1090cdef7021b06882_0]** 
- Orion's participation, following a **€50 million** equity investment in Neinor’s asset management business in 2023, underscores its renewed commitment to Neinor's strategy and value creation potential.  **[1402829_c0850328b00f4b1090cdef7021b06882_0]** 
- The capital raised by Neinor Homes, with Orion's significant contribution, will be used to pursue further growth opportunities in Build-to-Sell and Alternative Living segments, and to fully fund the acquisition of AEDAS.  **[1402829_c0850328b00f4b1090cdef7021b06882_0]**

Orion Reinforces Commitment to Neinor Homes with €100mn Investment

- **Glencore** is in discussions about potentially selling a **controlling stake** in its **Kamoto Copper Company (KCC)** mine in the Democratic Republic of Congo.  **[1402829_9f4b14b8c4944749a077d112eb335f87]** 
- KCC is a significant producer, having yielded **191,000 tons of copper and 27,000 tons of cobalt in 2024**.  **[1402829_9f4b14b8c4944749a077d112eb335f87]** 
- Companies engaged in talks include **Orion Resource Partners** and Rio Tinto, with the U.S. International Development Finance Corp. (DFC) potentially participating in a related mining investment fund.  **[1402829_9f4b14b8c4944749a077d112eb335f87]** 
- This potential sale aligns with Glencore's aim to optimize its asset base and broader U.S. efforts to secure critical mineral supplies.  **[1402829_9f4b14b8c4944749a077d112eb335f87]**