ORN

Orion Group Holdings, Inc. ORN used its second-quarter 2026 call to frame the earnings shortfall as a Marine scheduling problem, not a demand or execution breakdown. CEO Travis Boone said the delays are now behind the company.That distinction matters because Orion lowered its profit outlook while keeping revenue guidance unchanged. Management now needs higher Marine utilization and sustained Concrete momentum to deliver the stronger second half embedded in the revised plan. Adjusted earnings of $0.02 per share missed the Zacks Consensus Estimate of $0.06, while revenues of $221.9 million missed the Zacks Consensus Estimate of $227.3 million. Revenues increased 8% year over year. Orion Group Holdings, Inc. price-consensus-eps-surprise-chart | Orion Group Holdings, Inc. Quote CFO Alison Vasquez said lower Marine volume and equipment utilization reduced gross profit to $22.9 million from $25.8 million. Delays involved site readiness and customer-supplied materials, weakening project profitability and leaving assets underutilized. CEO Boone said the affected projects are now mobilized. He characterized the quarter as a construction-timing setback rather than a deterioration in demand or field performance. Orion maintained full-year revenue guidance of $900 million-$950 million and capital spending guidance of $25 million-$35 million. CFO Vasquez cut adjusted EBITDA guidance to $50 million-$54 million from $54 million-$58 million. Adjusted EPS guidance dropped to $0.23-$0.30 from $0.36-$0.42. She said the reset reflects Marine timing shifts. At the midpoint, the new ranges still represent 15% adjusted EBITDA growth and 6% adjusted earnings growth over 2025. A Craig-Hallum analyst asked about the margin recovery required in the second half. CEO Boone said 90% of Marine work and 80% of companywide work for the period are under contract. A JPMorgan analyst pressed for equipment-utilization details. CFO Vasquez said planned equipment and labor utilization are high as projects ramp, adding that stronger fleet utilization should allow more revenues to flow through to Marine margins. CEO Boone said McAmis should contribute more heavily in the back half as its regional work window opens. CFO Vasquez added that the acquired business contributed positively to revenues and EBITDA and was accretive to margins. Concrete revenues rose more than 30%, while adjusted EBITDA increased more than 45%. The segment produced a 5.7% adjusted EBITDA margin, and CFO Vasquez said Orion still targets roughly 6% for the full year. CEO Boone said data centers generated about 50% of second-quarter Concrete revenue, up from 40% in the first quarter. Management said the pipeline mix was broadly comparable, with site-civil services broadening Orion's scope. A ROTH Capital analyst asked about project visibility. CEO Boone said Concrete opportunities can move from initial contact to work within weeks, while CFO Vasquez emphasized that combining site-civil and concrete services simplifies customer execution. Orion booked $277 million of awards and change orders, producing a 1.25-times book-to-bill ratio. Quarter-end backlog reached $722 million, including $554 million in Marine and $168 million in Concrete. CEO Boone said the pursuit pipeline expanded to about $27 billion, with almost $1.6 billion of quoted work awaiting award versus roughly $1 billion at the start of the year. An Oppenheimer analyst asked about 2027 growth drivers. CEO Boone and CFO Vasquez described a balanced opportunity set across defense, ports, energy, commercial work and data centers, alongside larger, more-complex projects using alternative-delivery models. Boone cautioned that procurement and award dates can move. Management remained confident in demand but became more dependent on execution timing. CEO Boone repeatedly separated the second-quarter miss from Orion's broader market outlook and win-rate trends. Management's revised forecast depends on contracted Marine work converting into the utilization and margin expansion embedded in guidance. Concrete momentum provides support, but the forecast places greater weight on a back-half Marine recovery. ORN carries a Zacks Rank #3 (Hold), a neutral near-term rating. Its Momentum Score of A, Value Score of B and VGM Score of B are favorable style readings, while its Growth Score of C is less distinguished. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Style Scores complement rather than replace the Zacks Rank. The current mix shows select strengths without the top-rank confirmation of Zacks Rank #1 or 2 (Buy) stocks. The rank can change as estimates are revised after the reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Quanta Services, Inc. PWR reported better-than-expected second-quarter 2026 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate. Quanta’s performance benefited from strong demand for grid, generation and data-center infrastructure, broader self-perform capabilities, efficient resource utilization and solid execution across both segments.Shares of this leading provider of specialty contracting and infrastructure solutions gained more than 14% following its earnings release. The company reported adjusted earnings of $4.24 per share for the second quarter of 2026, up 71% year over year. The figure beat the Zacks Consensus Estimate of $3.29 by 28.9%.Revenues increased 41.1% year over year to $9.56 billion and surpassed the consensus mark of $8.53 billion by 12.1%. Strong Electric segment execution supported the results, while total backlog reached a record $53.4 billion. Organic revenues grew 27.4% year over year as demand remained strong across Quanta’s infrastructure markets. Adjusted EBITDA advanced 59.5% year over year to $1.07 billion from $668.8 million in the prior-year quarter.GAAP earnings were $2.96 per share, up 94.7% from $1.52. Net income attributable to common stock increased 96.9% year over year to $451.4 million, reflecting higher activity and stronger operating performance across the portfolio. Quanta Services, Inc. price-consensus-eps-surprise-chart | Quanta Services, Inc. Quote Electric Infrastructure Solutions (which accounted for 82% of second-quarter revenues) revenues climbed 43.6% year over year to $7.84 billion. Organic revenues increased approximately 33%, while acquired businesses contributed about $575 million. Growth reflected continued demand for grid, generation, technology and load center solutions.Electric operating income increased 62.5% year over year to $898.2 million. The segment’s margin expanded to 11.5% from 10.1%, supported by increased project scope, self-performed solutions, efficient resource utilization and solid execution.Underground Utility and Infrastructure Solutions (18% of quarterly revenues) revenues rose 30.7% year over year to $1.72 billion. Organic revenues grew 4% year over year, and businesses acquired during the past 12 months contributed roughly $355 million.The segment’s operating income advanced 71.7% year over year to $155.8 million. Operating margin improved to 9.1% from 6.9%, primarily reflecting strong performance from Quanta’s civil and mechanical operations. Consolidated operating income increased 87.6% to $694.8 million from $370.3 million in the year-ago quarter. Operating margin widened to 7.3% from 5.5%, as the improvement in both operating segments more than offset higher corporate expenses.Corporate and non-allocated costs increased to $359.2 million from $273.0 million. These costs included amortization expense of $157.0 million compared with $113.2 million a year earlier and non-cash stock-based compensation of $63.4 million compared with $44.1 million in the prior year. Electric backlog reached a record $43.8 billion at quarter-end, driven primarily by additional awards and higher volumes with existing customers. The total included approximately $2.4 billion related to acquisitions completed during the second quarter.Underground and Infrastructure backlog rose to a record $9.7 billion, aided by strong bookings in mechanical and Canadian pipeline operations. Consolidated 12-month backlog was also a record at $32.3 billion. Remaining performance obligations totaled $33.6 billion. Cash provided by operating activities totaled $1.10 billion compared with $295.7 million a year earlier. Free cash flow improved to $886.0 million from $170.4 million, supported by favorable working-capital performance across Quanta’s portfolio.The debt-to-EBITDA ratio under the company’s senior credit agreement improved to 1.72X from 1.95X at 2025-end. Quanta ended the June quarter with approximately $2.8 billion of liquidity, even after deploying capital toward acquisitions offering high-return growth opportunities. Quanta increased its 2026 revenue forecast to $39.3-$39.7 billion, representing a $4.55 billion increase at the midpoint from its prior outlook. Adjusted earnings are now projected to be in the range of $16.45-$16.95 per share, while adjusted EBITDA is expected to be between $4.09 billion and $4.21 billion.Electric segment revenues are projected to be in the range of $31.7-$31.9 billion, with an operating margin of 10.5%-10.75%. Underground and Infrastructure revenues are expected to be between $7.60 billion and $7.80 billion, with an operating margin of 8.75%-9.0%. Free cash flow is forecasted to be in the $2.00-$2.50 billion range. Quanta currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Orion Group Holdings, Inc. ORN reported weaker-than-expected second-quarter 2026 results, with adjusted EPS and revenues missing the Zacks Consensus Estimate. Revenues increased 8% year over year, driven by strong growth in the Concrete segment, supported by higher project volumes, new contract awards, expansion of site civil services and solid project execution. However, these gains were more than offset by weakness in the Marine business, where lower project volumes, along with higher selling, general and administrative expenses to support growth initiatives, pressured margins and reduced adjusted EBITDA, weighing on overall earnings.Despite the softer quarter, Orion reaffirmed its full-year revenue guidance of $900-$950 million, implying approximately 9% growth at the midpoint. However, the company lowered its adjusted EBITDA outlook to $50-$54 million from the prior $54-$58 million range and reduced its adjusted earnings guidance to 23-30 cents per share from the earlier forecast of 36-42 cents.United Rentals, Inc. URI reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.United Rentals’ management raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.Comfort Systems USA, Inc. FIX delivered impressive second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year. The quarterly performance reflected continued strength across its end markets, robust execution by the operating teams and sustained demand that drove record backlog growth, reinforcing the company’s confidence in the business momentum.Comfort Systems’ backlog as of June 30, 2026, totaled $14.06 billion, increasing 12.9% from $12.45 billion at March 31, 2026, and jumping 73.2% from $8.12 billion reported a year ago. On a same-store basis, backlog climbed to $13.70 billion from $8.12 billion in the year-ago period. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quanta Services, Inc. (PWR) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Orion Group Holdings, Inc.? Here are five stocks we like better. Second-quarter results weakened due to marine project delays: Revenue rose 8% to $222 million, but lower marine volume and equipment utilization drove a $4.1 million GAAP net loss and reduced adjusted EBITDA to $7.9 million. Concrete remained strong, with revenue up more than 30% and adjusted EBITDA up 45%. Full-year revenue guidance was maintained at $900 million-$950 million, while adjusted EBITDA guidance was set at $50 million-$54 million and adjusted EPS at $0.23-$0.30. Management expects a stronger second half, with nearly 90% of anticipated marine work under contract. Orion reported more than $275 million in quarterly bookings, a $722 million backlog and a pursuit pipeline of roughly $27 billion. Concrete demand—particularly from data centers and domestic manufacturing—remains robust, while the J.E. McAmis acquisition is expected to contribute more materially in the second half. Hidden Gems: 3 Quiet Stocks With Loud Potential Orion Group (NYSE:ORN) reported second-quarter 2026 results that reflected continued growth in its concrete business but lower marine activity as several client-related project starts were delayed. Chief Executive Officer Travis Boone said the quarter fell short of both management and investor expectations, characterizing the marine weakness as a timing issue rather than an operational or demand-related problem. He said delayed project mobilizations have since moved forward and that the company expects a stronger second half as new marine work ramps up. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? “These delays are now behind us,” Boone said. “We often talk about construction being a lumpy business. This quarter is a good example.” Orion generated second-quarter revenue of $222 million, up 8% from the prior-year period. The company’s concrete operation delivered more than 30% top-line growth and 45% adjusted EBITDA growth, according to Boone, aided by site civil services expansion, favorable utilization and project execution. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now However, the marine segment experienced lower revenue and profitability due to delayed awards, project startups and completions. Chief Financial Officer Alison Vasquez said several projects faced delayed mobilization because of client issues, including site readiness and the timing of client-provided materials. Marine delays reduced project profitability and equipment utilization, which weighed on gross profit. Total gross profit was $23 million, down $3 million from a year earlier, primarily because of lower marine volume and equipment utilization. Vasquez said the affected projects are now underway and are expected to have good productivity during the second half. → 3 Value ETFs to Consider as Growth Stocks Lag Behind The company posted a GAAP net loss of $4.1 million, compared with GAAP net income of $0.8 million in the second quarter of 2025. Vasquez attributed the change primarily to lower marine volume, increased depreciation and amortization, and higher GAAP taxes related to valuation allowance adjustments. Adjusted EBITDA was $7.9 million, compared with $11 million a year earlier. Adjusted earnings per share were $0.02, down from $0.07 in the prior-year quarter. Management reset its 2026 outlook to account for the shift in marine project timing. Orion maintained its revenue guidance of $900 million to $950 million and its capital expenditure outlook of $25 million to $35 million. The company now expects adjusted EBITDA of $50 million to $54 million and adjusted EPS of $0.23 to $0.30. At the midpoint, the guidance represents 15% adjusted EBITDA growth and 6% adjusted EPS growth over 2025 actual results, Vasquez said. Boone said Orion has “very good visibility” into the remainder of the year, with nearly 90% of expected marine work for the second half under contract. He added that 80% of overall company business for the back half is under contract. Management expects improved utilization of marine equipment and labor to support a significant step-up in revenue and margins. Vasquez said the company’s balance sheet remained in good condition, with net leverage of 2.3 times, providing flexibility for its strategic priorities. Orion recorded more than $275 million of bookings during the quarter, representing a 1.25 times book-to-bill ratio. Quarter-end backlog totaled $722 million. New awards included a port terminal expansion project in Alabama, a dredging project in the U.S. Virgin Islands, jetty projects secured by J.E. McAmis Inc., and additional phases of data center work. Orion acquired J.E. McAmis in February. The company’s pursuit pipeline grew to about $27 billion, including nearly $1.6 billion of quoted projects awaiting award. Boone said the quoted-project figure was about $1 billion at the beginning of the year and represents nearer-term award opportunities. Management said opportunities are balanced across defense, ports, commercial customers, energy, oil and gas, chemicals, and state and local agencies. Boone also pointed to a continuing shift toward larger, more technically complex projects and alternative delivery structures such as design-build, progressive design-build and construction manager/general contractor arrangements. While Boone cited potential defense infrastructure spending as a long-term opportunity, he noted that the proposed 2027 federal defense budget still faces Senate and reconciliation steps. He said naval modernization, Indo-Pacific capabilities, logistics and port resilience remain priorities with bipartisan support. Management said concrete demand remains strong, particularly in data centers, domestic manufacturing and related physical infrastructure. About 50% of concrete revenue in the second quarter came from data centers, compared with 40% in the first quarter, Boone said. The company has more than $1 billion of outstanding concrete bids. Concrete projects generally move from bidding to execution quickly, Boone said, making backlog a less useful indicator for the segment than it is for marine operations. Vasquez said Orion is targeting full-year concrete margins near 6%, with the second-quarter margin in the 5.5% to 6% range. Orion also said its newer site civil services offering is gaining traction. Boone said clients value being able to engage one contractor for both site civil and concrete scope, while Vasquez said the approach can simplify execution and reduce risk for customers. Regarding J.E. McAmis, management said the integration is progressing well. The acquired business has transitioned to Orion’s project controls, financial and IT systems and contributed positively to both revenue and EBITDA during the quarter. Its primary work season began in late June or early July, and management expects its activity to increase materially through the second half of the year. Boone said Orion remains confident in its longer-term strategy despite the second-quarter timing disruptions, citing high win rates, a growing pipeline and expected marine infrastructure investment across defense, ports, transportation and energy markets. Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives. Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Orion Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

EMCOR Group, Inc. EME reported solid second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The company’s quarterly performance was driven by broad-based organic growth across its reportable segments, disciplined project execution, favorable project mix and solid demand in key end markets. Improved operating leverage and cost control supported margin expansion, while record remaining performance obligations strengthened revenue visibility. Continued demand for mission-critical construction, network and communications, healthcare, institutional, water and wastewater, and high-tech manufacturing projects also supported management’s improved outlook.Following the results, EMCOR stock gained more than 11% during today’s pre-market trading session. EMCOR reported second-quarter 2026 earnings of $9.06 per share, up 34.8% year over year. The figure beat the Zacks Consensus Estimate of $7.23 by 25.3%.Revenues rose 19.8% to a record $5.15 billion and surpassed the consensus mark by 9%. Strong organic growth across every reportable segment drove the results, while Remaining Performance Obligations or RPOs reached a record $17.14 billion.Organic revenues increased 19.6% year over year after adjusting for incremental acquisition contributions and the sale of the company’s U.K. operations. The performance reflected sustained activity across EMCOR’s construction and services platforms.Net income climbed to $403.7 million from $302.2 million in the prior-year quarter. Management attributed the performance to disciplined execution, favorable demand across key markets and the company’s ability to deliver complex, mission-critical projects. EMCOR Group, Inc. price-consensus-eps-surprise-chart | EMCOR Group, Inc. Quote Gross profit increased 22.6% year over year to $1.02 billion. The gross margin expanded 40 basis points (bps) to 19.8%, as profit growth exceeded the pace of revenue growth.Selling, general and administrative expenses rose 13.5% year over year to $475 million but declined to 9.2% of revenues from 9.7% a year earlier. Operating income advanced 31.8% year over year to $547.3 million, while the operating margin improved 100 bps to 10.6%. U.S. Electrical Construction and Facilities Services revenues (which accounted for 32% of second-quarter total revenues) increased 24% year over year to $1.66 billion. Operating income surged 46.8% year over year to $231.4 million, while the segment margin expanded 210 bps to 13.9%.U.S. Mechanical Construction and Facilities Services (45%) revenues grew 31.1% year over year to $2.30 billion. Operating income rose 20.1% to $286.6 million, though the operating margin contracted 110 bps to 12.5%.U.S. Building Services revenues (16%) advanced 5.6% year over year to $837.7 million. Operating income increased 26.6% year over year to $63.4 million, and the margin expanded 130 basis points to 7.6%.U.S. Industrial Services revenues (7%) climbed 25.9% year over year to $353.8 million. The segment generated operating income of $9.6 million against a loss of $0.4 million in the year-ago quarter, lifting its margin to 2.7% from negative 0.1%. RPOs, or contracted work yet to be recognized as revenue, increased 43.9% year over year to $17.14 billion. The metric also rose $3.89 billion from the end of 2025.The largest increases came from Network and Communications, Water and Wastewater and Institutional and Healthcare. EMCOR also cited strong demand in Manufacturing and Industrial, High-Tech Manufacturing, fire life safety services and HVAC-related aftermarket projects. Cash and cash equivalents totaled $924.4 million as of June 30, 2026, compared with $1.11 billion at 2025-end. Working capital increased to $1.45 billion from $1.07 billion, while total debt remained low at $6.1 million.Net cash provided by operating activities was $289.9 million during the first six months of 2026. The company used $268.5 million for share repurchases, $35.6 million for dividends and $95 million for business acquisitions during the period. EMCOR increased its 2026 revenue guidance to $20-$20.50 billion from $18.50-$19.25 billion. The company also raised its operating margin forecast to 9.5-9.8% from 9-9.4%.Earnings are now expected to be between $32 and $33.25 per share, up from the previous range of $28.25-$29.75. The revised outlook reflects continued demand, success in winning and executing large-scale projects and management’s confidence in the company’s operating capabilities. EMCOR currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Orion Group Holdings, Inc. ORN reported weaker-than-expected second-quarter 2026 results, with adjusted EPS and revenues missing the Zacks Consensus Estimate. Revenues increased 8% year over year, driven by strong growth in the Concrete segment, supported by higher project volumes, new contract awards, expansion of site civil services and solid project execution. However, these gains were more than offset by weakness in the Marine business, where lower project volumes, along with higher selling, general and administrative expenses to support growth initiatives, pressured margins and reduced adjusted EBITDA, weighing on overall earnings.Despite the softer quarter, Orion reaffirmed its full-year revenue guidance of $900-$950 million, implying approximately 9% growth at the midpoint. However, the company lowered its adjusted EBITDA outlook to $50-$54 million from the prior $54-$58 million range and reduced its adjusted earnings guidance to 23-30 cents per share from the earlier forecast of 36-42 cents.United Rentals, Inc. URI reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.United Rentals’ management raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.Comfort Systems USA, Inc. FIX delivered impressive second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year. The quarterly performance reflected continued strength across its end markets, robust execution by the operating teams and sustained demand that drove record backlog growth, reinforcing the company’s confidence in the business momentum.Comfort Systems’ backlog as of June 30, 2026, totaled $14.06 billion, increasing 12.9% from $12.45 billion at March 31, 2026, and jumping 73.2% from $8.12 billion reported a year ago. On a same-store basis, backlog climbed to $13.70 billion from $8.12 billion in the year-ago period. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EMCOR Group, Inc. (EME) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Orion Group Holdings, Inc. ORN reported weather-than-expected second-quarter 2026 results, with adjusted earnings per share (EPS) and revenues missing the Zacks Consensus Estimate. Although revenues increased 8% year over year, supported by strong growth in the Concrete business driven by higher project volumes, new awards, expansion of site civil services and solid project execution, the benefits were offset by weakness in the Marine segment. Lower Marine volumes, coupled with higher selling, general and administrative expenses to support business growth, compressed margins and reduced adjusted EBITDA, ultimately weighing on earnings.Shares of this leading specialty construction company dipped more than 12% after its second-quarter earnings release yesterday.The company reported adjusted earnings of 2 cents per share for the quarter, missing the Zacks Consensus Estimate of 6 cents by 66.7%. Adjusted earnings fell 71.4% from 7 cents in the year-ago quarter.Contract revenues of $221.9 million missed the consensus mark of $227.3 million by 2.4% but increased 8.1% year over year. Concrete growth was offset by lower Marine activity, while backlog climbed to $722 million.Gross profit fell 11.1% year over year to $22.9 million. Gross margin contracted to 10.3% from 12.6%, reflecting lower Marine volume and equipment utilization, partly offset by favorable Concrete project execution. Orion's second-quarter performance reflected a sharp divergence between its two operating segments. The Concrete segment (which accounted for 41% of the second-quarter contract revenues) remained the primary growth driver, with revenues increasing more than 30% year over year to $91 million. The strong performance was fueled by robust customer demand, new project awards, expansion of site civil services, higher project volumes, favorable equipment utilization and solid project execution. These factors also lifted segment adjusted EBITDA by more than 45% year over year to $5.2 million, with the adjusted EBITDA margin improving to 5.7% from 5.1% in the prior-year quarter.In contrast, the Marine segment (which accounted for 59% of the second-quarter contract revenues) weighed on overall results. Revenues declined 3.3% year over year to $130.8 million as project start-ups were delayed due to client-related issues, including site readiness and the timing of customer-provided materials. The slower project ramp-up reduced equipment utilization, resulting in lower profitability. Segment adjusted EBITDA declined to $13.8 million from $18.1 million a year ago, while the adjusted EBITDA margin contracted to 10.6% from 13.4%. Despite the near-term weakness, management highlighted that Marine bookings remained healthy, with major awards in port expansion, dredging and jetty rehabilitation projects, providing strong visibility into the remainder of the year. Orion Group Holdings, Inc. price-consensus-eps-surprise-chart | Orion Group Holdings, Inc. Quote Selling, general and administrative (SG&A) expenses increased to $24.4 million from $22.8 million, mainly due to costs incurred to support business growth. The higher expense base, combined with lower gross profit, pushed the company to an operating loss of $1.3 million versus operating income of $3.4 million a year earlier.GAAP net loss was $4.1 million, or 10 cents per share, against a net income of $0.8 million, or 2 cents per share, in the prior-year quarter. Overall adjusted EBITDA declined to $7.9 million from $11 million, while the adjusted EBITDA margin narrowed to 3.5% from 5.3%. Backlog ended the quarter at $722 million, up from $640 million at the end of 2025. Marine backlog rose to $554 million from $480 million, while Concrete backlog increased to $168 million from $160 million.The company booked $277 million of awards and change orders, producing a 1.25x book-to-bill ratio. Marine awards included a major port terminal expansion, a large dredging project and a jetty rehabilitation project, while Concrete wins included data centers, healthcare and advanced manufacturing work. Orion maintained its full-year revenue outlook of $900-$950 million, implying 9% growth at the midpoint. However, it lowered adjusted EBITDA guidance to $50-$54 million from $54-$58 million.Adjusted earnings guidance was reduced to 23-30 cents per share from 36-42 cents. The revision reflected lower Marine revenues and profitability tied to project timing and equipment utilization, while capital expenditure guidance remained unchanged at $25-$35 million. Working capital totaled $92 million at the second-quarter end, including $2.5 million in unrestricted cash and cash equivalents. Total debt stood at $99 million, with $76 million borrowed under the UMB Credit Facility.For the first six months of 2026, operating activities used $12.7 million of cash. Investing activities used $62.3 million, including $42.9 million for a business acquisition and $20.1 million for property and equipment purchases. Orion currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.United Rentals, Inc. URI reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year. Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.United Rentals’ management raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.Comfort Systems USA, Inc. FIX delivered impressive second-quarter 2026 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing sharply year over year. The quarterly performance reflected continued strength across its end markets, robust execution by the operating teams and sustained demand that drove record backlog growth, reinforcing the company’s confidence in the business momentum.Comfort Systems’ backlog as of June 30, 2026, totaled $14.06 billion, increasing 12.9% from $12.45 billion at March 31, 2026, and jumping 73.2% from $8.12 billion reported a year ago. On a same-store basis, backlog climbed to $13.70 billion from $8.12 billion in the year-ago period.PulteGroup, Inc. PHM reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year. The quarterly results reflect reduced home-closing volumes, softer average selling prices and margin compression.PulteGroup ended the quarter with a backlog of 10,966 homes, up 1.7% from the prior-year level. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West reported declines. The value of homes in backlog slipped 0.6% to $6.80 billion. The divergence between higher units and lower value indicates that the average value of homes in backlog declined year over year, consistent with PHM’s broader pricing pressure. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report PulteGroup, Inc. (PHM) : Free Stock Analysis Report United Rentals, Inc. (URI) : Free Stock Analysis Report Comfort Systems USA, Inc. (FIX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Second quarter results were impacted by client-driven delays in the Marine segment, specifically regarding site readiness and timing of client-provided materials, rather than operational execution issues. The Concrete business achieved historic performance levels, with 30% top-line growth and 45% adjusted EBITDA growth driven by data center infrastructure demand and expansion into site civil services. Management characterizes the current environment as the 'doorstep of a marine infrastructure investment mega cycle' supported by long-duration capital investments in defense, energy, and port resilience. The company is shifting its pursuit strategy toward larger, more technically complex projects that utilize specialized equipment and highly skilled labor to improve competitive positioning. Strategic expansion into site civil services is enhancing the value proposition for concrete clients by simplifying project coordination and de-risking execution through a single point of contact. The acquisition of Pacific Rock and Dredge (McAmis) is providing specialized expertise in jetty and breakwater systems that Orion intends to scale across its broader geographic footprint. Management maintains high visibility for the remainder of 2026, with approximately 90% of Marine work and 80% of total company business already under contract. The pursuit pipeline has expanded to approximately $27 billion, with nearly $1.6 billion in projects quoted and awaiting award, reflecting a significant increase from $1 billion at the start of the year. Full-year 2026 guidance was reset to reflect the timing shift of Marine projects, though adjusted EBITDA growth of 15% over 2025 is still anticipated at the midpoint. The back half of 2026 is expected to see a significant margin step-up as Marine assets reach full utilization and delayed projects enter high-productivity phases. Management expressed optimism for 2027 based on a strong pipeline of naval infrastructure modernization and private sector energy investments. Marine profitability suffered a 'double whammy' effect where delayed mobilizations resulted in both lost project profit and lower equipment utilization Data centers now represent approximately 50% of Concrete revenue, up from 40% in the first quarter, highlighting a strategic concentration in high-growth digital infrastructure. The U.S. Defense budget remains a key catalyst for long-term growth, with management closely monitoring the $1.5 trillion proposal as it awaits Senate approval before legislative reconciliation can begin. Net leverage stands at 2.3 times, which management believes provides sufficient financial flexibility to support ongoing strategic priorities and capital expenditures. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed that equipment and labor utilization plans are 'quite high' for the third and fourth quarters as delayed projects are now in full swing. Profitability is expected to improve significantly because fixed equipment costs will be spread across higher revenue volumes as the fleet returns to work. While Concrete backlog can appear volatile due to short lead times (often 2-3 weeks from bid to start), the pipeline remains robust with over $1 billion in outstanding bids. Visibility into the data center market is supported by multi-year backlogs for long-lead items like servers and electricians, even if Orion's specific work is short-cycle. The McAmis integration is complete, with the team transitioned to Orion's project controls and IT systems; the unit was accretive to EBITDA margins in Q2. Performance is expected to be heavily weighted toward the back half of the year due to specific environmental work windows in the Pacific Northwest that opened in July. Orion is negotiating for upfront mobilization payments where possible, though federal government contracts offer limited flexibility compared to private concrete work. To manage diesel price volatility, the company utilizes a combination of fuel hedging, locking in prices, or building contingency pools into project bids.

This article first appeared on GuruFocus. Revenue: $222 million, an 8% increase from the second quarter of last year. Gross Profit: $23 million, down $3 million from last year. GAAP Loss: $4.1 million compared to GAAP net income in the second quarter of last year. Adjusted EBITDA: $7.9 million compared to $11 million in the prior year quarter. Adjusted EPS: $0.02 compared to $0.07 per share in the prior year quarter. Net Leverage: 2.3 times. Bookings: Over $275 million in the quarter, with a 1.25 times book-to-bill ratio. Backlog: $722 million at quarter end. Concrete Business Growth: Over 30% top-line and 45% adjusted EBITDA growth in the quarter. Revised 2026 Annual Guidance: Revenue of $900 million to $950 million; Adjusted EBITDA of $50 million to $54 million; Adjusted EPS of $0.23 to $0.30; Capital expenditures of $25 million to $35 million. Warning! GuruFocus has detected 5 Warning Signs with ORN. Is ORN fairly valued? Test your thesis with our free DCF calculator. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Orion Group Holdings Inc (NYSE:ORN) reported an 8% increase in revenue for the second quarter compared to the same period last year. The concrete business posted excellent results with over 30% top-line growth and 45% adjusted EBITDA growth in the quarter. The company has a strong pipeline of opportunities, with approximately $27 billion in pursuit pipeline and $1.6 billion in projects quoted awaiting award. Orion Group Holdings Inc (NYSE:ORN) recorded over $275 million in bookings in the quarter, representing a 1.25 times book-to-bill ratio. The company has 90% of its marine work under contract for the back half of the year, providing good visibility into future performance. The company's results for the quarter were negatively impacted by client delays in the marine business, affecting project starts and completions. Gross profit decreased by $3 million from the previous year due to lower marine volume and equipment utilization. Orion Group Holdings Inc (NYSE:ORN) reported a GAAP loss of $4.1 million for the quarter, compared to a GAAP net income in the same quarter last year. The marine segment experienced a decline in top-line and profitability due to timing issues with project awards and startups. The company had to reset its full-year 2026 guidance to reflect timing shifts in the marine segment, indicating potential challenges in meeting initial expectations. Q: Can you discuss the guidance implying a pickup in margins in the back half and your confidence in achieving those? A: Travis Boone, CEO: We have mobilized projects that caused delays in the second quarter. With 90% of our marine backlog under contract for the back half of the year, we feel confident about delivering a significant improvement in margins as marine assets become fully utilized. Q: How is the order momentum carrying into July, and what are you seeing in the market regarding margins? A: Travis Boone, CEO: We have seen continued wins in July, though nothing particularly notable. Pricing has remained steady, and our win rate has improved slightly in the marine business, which we expect to continue. Q: Could you provide expectations for growth in the concrete segment for the second half? A: Travis Boone, CEO: The concrete business operates with quick turnarounds, so backlog isn't always indicative of future growth. We have over $1 billion in outstanding bids and feel positive about the segment's prospects. Q: What are the growth opportunities you see for 2027, particularly in naval-related programs? A: Travis Boone, CEO: We expect growth, though timing can be unpredictable due to client delays. Our pipeline is strong, with balanced opportunities across defense, port modernization, and commercial sectors. Q: Are the 2Q concrete margins a good run rate for the rest of the year, and what could lead to expansion? A: Alison Vasquez, CFO: The 2Q margins were as expected, between 5.5% and 6%. We see good momentum and expect to maintain close to a 6% margin for the full year, with opportunities for expansion if additional capacity flows through. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Orion Marine Group (ORN) reported $221.88 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 8.1%. EPS of $0.02 for the same period compares to $0.07 a year ago. The reported revenue represents a surprise of -2.4% over the Zacks Consensus Estimate of $227.33 million. With the consensus EPS estimate being $0.06, the EPS surprise was -66.67%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Orion Marine performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Backlog - Marine: $554 million versus $530.39 million estimated by two analysts on average. Backlog: $722 million versus $710.77 million estimated by two analysts on average. Backlog - Concrete: $168 million versus the two-analyst average estimate of $180.38 million. Contract revenues- Concrete: $91.04 million versus $95.46 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +30.1% change. Contract revenues- Marine: $130.84 million versus $131.87 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.3% change. Operating income (loss)- Concrete: $4.2 million versus the three-analyst average estimate of $7.11 million. Operating income (loss)- Marine: $7.7 million compared to the $10.57 million average estimate based on three analysts. View all Key Company Metrics for Orion Marine here>>> Shares of Orion Marine have returned -27.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HOUSTON, July 28, 2026 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) (the “Company” or “Orion”), a leading specialty construction company, today reported its financial results for the second quarter ended June 30, 2026, and updated its full-year 2026 outlook. Highlights for the quarter ended June 30, 2026 Revenue of $221.9 million, GAAP net loss of $4.1 million, or $0.10 per diluted share, Adjusted EBITDA of $7.9 million and Adjusted EPS of $0.02 per diluted share Booked awards and change orders of $277 million; book-to-bill of 1.25X in the quarter Reset full-year 2026 guidance “In the quarter, Orion delivered solid year-over-year revenue growth and project bookings, reflecting favorable demand in our end markets. Our confidence in the long-term opportunities across our Marine and Concrete businesses remains robust, and our pipeline of opportunities has grown to approximately $27 billion. Recent awards across both of our businesses reinforce our competitive position in attractive end markets, spanning defense infrastructure, port and transportation infrastructure, data centers, healthcare and advanced manufacturing. With a growing opportunity pipeline, expanded capabilities, and an outstanding team delivering projects that matter, our conviction in Orion's long-term growth trajectory is strong,” said Travis Boone, Chief Executive Officer of Orion. “Our Concrete business posted excellent results reporting over 30% revenue growth and over 45% adjusted EBITDA growth in the quarter benefitting from expansion of site civil services, favorable utilization and solid execution. Marine contract revenue and adjusted EBITDA were down primarily due to the timing of project start-ups and lower equipment utilization, and we have reset our full year 2026 guidance accordingly. Today, we have strong visibility into the remainder of the year with nearly 90% of Marine work under contract and strong Concrete momentum to achieve our updated guidance,” concluded Boone. Second Quarter 2026 ResultsAmounts in the table are in millions, except per share information See definitions and reconciliation of non-GAAP measures elsewhere in this release. Contract revenues of $221.9 million in the second quarter of 2026 increased $16.6 million, or 8%, from $205.3 million in the second quarter of last year. The increase was driven by the Concrete segment, reflecting strong demand, new project awards and higher volumes. This increase was partially offset by a reduction in Marine revenue, primarily attributable to the timing of project start-ups due to client-related issues such as site readiness and timing of delivery of client-provided materials. Gross profit was $22.9 million in the second quarter of 2026, a decrease of $2.9 million, or 11%, from $25.8 million in the second quarter of 2025. The decrease was primarily driven by lower Marine volume and equipment utilization The decrease was partially offset by favorable project execution within the Concrete segment. Selling, general and administrative expenses were $24.4 million for the second quarter of 2026, up from $22.8 million in the second quarter of last year, primarily attributable to costs to support business growth. GAAP net loss for the quarter ended June 30, 2026 was $4.1 million, or $0.10 per diluted share, compared to net income of $0.8 million, or $0.02 per diluted share, in the second quarter of last year. Adjusted EBITDA for the second quarter of 2026 was $7.9 million, compared to $11.0 million in the second quarter of 2025. BacklogAmounts in the table are in millions Second quarter 2026 backlog included approximately $277 million in new awards. Second quarter Marine awards included a major port terminal expansion project, a large dredging project and a jetty rehabilitation project. Recent Concrete awards included several data centers and expanded site work as well as healthcare and advanced manufacturing. Balance Sheet UpdateAs of June 30, 2026, working capital was $92 million, including unrestricted cash and cash equivalents of $2.5 million. Total debt outstanding was $99 million, with $76 million of outstanding borrowings under the UMB Credit Facility. GuidanceThe following forward-looking guidance reflects the Company’s current expectations and beliefs as of July 28, 2026, and is subject to change. The following statements apply only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included elsewhere in this press release. The Company provided the following revised guidance for the full year 2026: In millions, except per share amounts and percentages Conference Call DetailsOrion Group Holdings will host a conference call to discuss the second quarter 2026 financial results at 9:00 a.m. Eastern Time/8:00 a.m. Central Time on Wednesday, July 29, 2026. To participate, please call (844) 481-2994 and ask for the Orion Group Holdings conference call. A live audio webcast of the call will also be available on the Investor Relations section of Orion’s website at https://www.oriongroupholdingsinc.com/investor/ and will be archived for replay. About Orion Group HoldingsOrion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s Marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Its Concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas. The Company’s website is located at: https://www.oriongroupholdingsinc.com. Backlog DefinitionBacklog consists of projects under contract that have either (a) not been started, or (b) are in progress but are not yet complete. The Company cannot guarantee that the revenue implied by its backlog will be realized, or, if realized, will result in earnings or profitability. Backlog can fluctuate from period to period due to the timing and execution of contracts. The typical duration of the Company’s Concrete projects ranges from six to twelve months and Marine projects range from 18 to 24 months. The Company's backlog at any point in time includes both revenue it expects to realize during the next twelve-month period as well as revenue it expects to realize in future years. Non-GAAP Financial MeasuresThis press release includes the financial measures “adjusted net income/loss,” “adjusted earnings/loss per share,” “EBITDA,” “Adjusted EBITDA,” and “Adjusted EBITDA margin.”  These measurements are determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”) and are “non-GAAP financial measures” under rules of the U.S. Securities and Exchange Commission, including Regulation G. The non-GAAP financial information may be determined or calculated differently by other companies that use similarly titled measures. By reporting such non-GAAP financial information, the Company does not intend to give such information greater prominence than comparable GAAP financial information. Investors are urged to consider these non-GAAP measures in addition to and not in substitute for measures prepared in accordance with GAAP. Adjusted net income/loss and adjusted earnings/loss per share should not be viewed as an equivalent financial measure to net income/loss or earnings/loss per share. Adjusted net income/loss and adjusted earnings/loss per share exclude certain items that management believes are one-time items or items whose timing or amount cannot be reasonably estimated. The Company believes these adjusted financial measures are a useful supplement to earnings/loss calculated in accordance with GAAP. Orion defines EBITDA as net income/loss before net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is calculated by adjusting EBITDA for certain items that management believes are one-time items or items whose timing or amount cannot be reasonably estimated, such as non-cash share-based compensation, enterprise resource planning implementation, severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA for the period by contract revenues for the period. The GAAP financial measure that is most directly comparable to EBITDA and Adjusted EBITDA is net income, while the GAAP financial measure that is most directly comparable to Adjusted EBITDA margin is operating margin, which represents operating income divided by contract revenues. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are used internally to evaluate current operating expense, operating efficiency, and operating profitability on a variable cost basis, by excluding the depreciation and amortization expenses, primarily related to capital expenditures and acquisitions, and net interest and tax expenses. Additionally, EBITDA, Adjusted EBITDA and Adjusted EBITDA margin provide useful information regarding the Company's ability to meet future debt service and working capital requirements while providing an overall evaluation of the Company’s financial condition. In addition, EBITDA is used internally for incentive compensation purposes. The Company includes EBITDA, Adjusted EBITDA and Adjusted EBITDA margin to provide transparency to investors as they are commonly used by investors and others in assessing performance. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin have certain limitations as analytical tools and should not be used as a substitute for operating margin, net income, cash flows, or other data prepared in accordance with GAAP, or as a measure of the Company’s profitability or liquidity. Forward-Looking StatementsThe matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” ”expects,” “may,” ”will,” ”could,” ”should,” ”seeks,” ”approximately,” ”intends,” “plans,” ”estimates,” or “anticipates,” or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, guidance, outlook, assumptions, or goals. In particular, statements regarding our pipeline of opportunities, achievement of strategic priorities, position for growth, financial guidance and future operations or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future operating results or the future generation of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any estimates, guidance, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, estimated project start dates, ramp-up of contract activity and contract options, which may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints, and any potential contract options that may or may not be awarded in the future, and are at the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. Considering these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law. Please refer to the Company's 2025 Annual Report on Form 10-K, filed on March 4, 2026 which is available on its website at www.oriongroupholdingsinc.com or at the SEC's website at www.sec.gov, and filings and press releases subsequent to such Annual Report on Form 10-K for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts. Contact: Margaret Boyce [email protected] Source: Orion Group Holdings, Inc. (1) Items are taxed discretely using the Company's blended tax rate. (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation, severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues. (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation, severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues. (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation, severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues.

Orion Group Holdings ORN is slated to report its second-quarter 2026 results on July 28, after market close.In the last reported quarter, the company’s earnings and revenues topped the Zacks Consensus Estimate, respectively. Adjusted earnings per share (EPS) of 5 cents increased from the year-ago profit level of 1 cent. Revenues of $216.3 million increased 14.6% on a year-over-year basis.ORN’s earnings topped the consensus mark in each of the trailing four quarters. The average surprise is shown in the chart below. Image Source: Zacks Investment Research The Zacks Consensus Estimate for second-quarter EPS has remained unchanged at 6 cents over the past 60 days. The estimate indicates a decline from the year-ago EPS of 7 cents. The consensus mark for revenues is pegged at $227.3 million, indicating a 10.7% year-over-year increase.For 2026, Orion is expected to register a 10.6% increase from a year ago in revenues. Its EPS is expected to grow 60% from a year ago. Below is what to expect from the ORN stock. Image Source: Zacks Investment Research Image Source: Zacks Investment Research Orion's second-quarter revenues are expected to be supported by a growing backlog and strong project execution. Management indicated that more than $200 million of additional project awards were secured after the first quarter, including a $100 million port renovation project, a $40 million dredging project and a $24 million data center project. These awards are expected to have supported a stronger second quarter and reinforce confidence in revenue growth through the remainder of 2026. The company also highlighted a healthy $24 billion pursuit pipeline, evenly distributed across 2026 and beyond, providing solid visibility into future work. The Marine segment (which accounted for 67.4% of first-quarter 2026 contract revenues) is expected to have benefited from rising investments in defense infrastructure, port modernization, dredging and energy-related marine projects. Management also pointed to increasing opportunities tied to U.S. Navy infrastructure programs, Coast Guard projects and domestic energy security initiatives. Meanwhile, the Concrete segment (32.6% of contract revenues) should have continued to be driven by robust data center construction, supported by hyperscaler spending, alongside growing opportunities in advanced manufacturing, transportation and cold-storage facilities. The recently expanded site civil and underground utility capabilities are also expected to support larger project wins. Profitability in the second quarter is likely to have improved as newer Marine projects progress beyond their initial phases. Management noted that first-half project timing should normalize as execution advances, while maintaining confidence that pricing, project mix and a healthy opportunity pipeline support stable to improving margins. Continued operational discipline and larger Concrete projects are also expected to have aided margin performance. Management reaffirmed its full-year 2026 guidance, calling for revenues of $900-$950 million, adjusted EBITDA of $54-$58 million and adjusted EPS of 36 cents-42 cents, indicating confidence in execution despite maintaining a conservative outlook. Executives emphasized that second-quarter activity has remained strong and reiterated expectations for a more back-half-weighted year, supported by expanding backlog and continued project awards. Our proven model does not conclusively predict an earnings beat for Orion this time around. A combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here.Earnings ESP: The company has an Earnings ESP of -16.67%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. ORN stock has gained 30% year to date (YTD), outperforming the Zacks Building Products - Heavy Construction industry, the Construction sector and the S&P 500 Index. ORN Stock’s Price Performance (YTD) Image Source: Zacks Investment Research Orion competes with Sterling Infrastructure, Inc. STRL, Granite Construction Incorporated GVA and Construction Partners, Inc. ROAD across marine infrastructure, heavy civil construction, transportation and commercial concrete markets. So far this year, Sterling has significantly outperformed the group with a 134.2% gain, reflecting investor enthusiasm for its data center and mission-critical infrastructure exposure. Granite Construction has delivered a more modest 9.8% return, while Construction Partners has declined 4.2% YTD. Orion differentiates itself through its unique combination of marine construction, defense-related waterfront infrastructure and rapidly expanding commercial concrete business, positioning it to capitalize on growing investments in ports, shipyards, data centers and industrial projects. As Orion continues to execute on its expanding backlog and robust project pipeline, its performance will increasingly be measured against these established infrastructure peers across both operational execution and shareholder returns. ORN stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 24.8, as evidenced by the chart below. ORN’s Valuation vs Industry (P/E F12M) Image Source: Zacks Investment Research At 24.8X forward 12-month earnings, ORN trades at a modest premium to the Construction-Heavy industry average of 23.59X, reflecting investor confidence in its improving execution and long-term growth opportunities. Compared with peers, ORN’s valuation sits above GVA (16.1X) but below ROAD (29.35X) and STRL (31.34X). This suggests the market assigns Orion a valuation premium over the broader industry but still values its growth prospects more conservatively than higher-growth infrastructure names such as Sterling and Construction Partners. Continued execution on its expanding backlog, marine infrastructure opportunities and commercial concrete growth could support further multiple expansion over time. Orion enters its second-quarter earnings release with solid business momentum, supported by an expanding backlog, robust project awards, strengthening demand across its Marine and Concrete segments and reaffirmed full-year guidance. With disciplined execution, healthy earnings growth expectations for 2026 and continued exposure to long-term infrastructure investment themes, the company appears well positioned for sustained growth. These strengths make holding ORN stock ahead of its second-quarter earnings release a prudent strategy for long-term investors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Orion Group Holdings, Inc. (ORN) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report Granite Construction Incorporated (GVA) : Free Stock Analysis Report Construction Partners, Inc. (ROAD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research