Orion (US:ORN) Globenewswire·2026-03-03 21:05Core Insights - Orion Group Holdings, Inc. reported strong operational execution in 2025, achieving top and bottom-line growth, with a focus on strategic initiatives and a robust pipeline of opportunities valued at $23 billion [2][9]. Financial Performance - For the year ended December 31, 2025, Orion's revenue was $852.3 million, an increase of $55.9 million or 7% from $796.4 million in 2024 [3][4]. - GAAP net income for 2025 was $2.5 million, or $0.06 per diluted share, compared to a net loss of $1.6 million, or $0.05 per diluted share, in the prior year [6][7]. - Adjusted EBITDA for 2025 was $45.2 million, up from $41.9 million in 2024, reflecting strong project execution and increased revenue [7][4]. Operational Highlights - The company completed $763 million in new awards during 2025, contributing to a total backlog of $640 million as of December 31, 2025 [8]. - The acquisition of J.E. McAmis on February 4, 2026, for approximately $60 million enhances Orion's marine construction capabilities and expands its project scope [10][12]. Cash Flow and Balance Sheet - Cash flow from operations for 2025 was $28 million, with free cash flow of $14 million [6]. - As of December 31, 2025, current assets totaled $278 million, with total debt outstanding at $8 million [13][38]. 2026 Financial Guidance - Orion anticipates revenue in the range of $900 million to $950 million for 2026, representing an 8.6% annual growth at the midpoint [19]. - Adjusted EBITDA is expected to be between $54 million and $58 million, indicating a 24% annual growth at the midpoint [19].