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.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
