The following is a summary of the Orion Group Holdings, Inc. (ORN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Orion Group Holdings reported Q3 2024 revenue of $226.7 million, a 35% increase year over year.

• Adjusted EBITDA for the quarter was $15.2 million, a 62% improvement from the prior year.

• The company anticipates full-year 2024 revenue in the range of $850 million to $900 million, with adjusted EBITDA expected between $40 million and $45 million.

• Adjusted net income for Q3 was $5.6 million or $0.16 per diluted share, significantly higher than the $1 million or $0.03 per share in the same period last year.

Business Progress:

• Orion has completed and is currently working on 29 data center projects, which together have generated $176 million in revenue for the company.

• The company has a strong focus on the Marine segment, with significant project wins and ongoing pursuits that ensure robust growth potential.

Opportunities:

• The company won $116 million in new contract awards in October for projects commencing in Q4 2024.

• Orion has a growing pipeline of opportunities valued at approximately $13 billion to $14 billion, ensuring a robust growth trajectory.

Risks:

• The recent hurricanes in the southeast posed potential risks, but impacts were minimal with only minor damage reported and quick resumption of operations.

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