Core Viewpoint - Orion Group Holdings, Inc. has announced the dual listing of its common stock on NYSE Texas, maintaining its primary listing on the New York Stock Exchange with the same ticker symbol "ORN" [1] Group 1: Company Overview - Orion Group Holdings is a leading specialty construction company serving the infrastructure, industrial, and building sectors [3] - The company provides services both on and off the water across the continental United States, Alaska, Hawaii, Canada, and the Caribbean Basin [3] - Orion's marine segment offers construction and dredging services related to marine transportation facility construction, marine pipeline construction, and environmental dredging [3] - The concrete segment provides turnkey concrete construction services for large commercial and structural projects [3] Group 2: Leadership Commentary - The CEO of Orion expressed pride in being among the founding members listed on NYSE Texas, highlighting the company's long-standing roots in Texas and its alignment with pro-growth values [2] - The Chief Development Officer of the NYSE Group welcomed Orion to NYSE Texas, emphasizing the state's business-friendly climate as a compelling platform for forward-looking companies [2]

Core Viewpoint - CEMATRIX Corporation has secured $5.7 million in new contract awards, enhancing its backlog and reflecting a strong start to the year for its sales teams [1][2]. Company Overview - CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site, recognized as a leading manufacturer and supplier of cellular concrete in North America [1][3]. - The company offers cost-effective and innovative solutions to complex geotechnical construction challenges, utilizing a flowable, self-leveling, cement-based material with insulating properties [3]. Contract Award Details - The recent contract awards are expected to bolster the company's backlog and are indicative of customer confidence in CEMATRIX's ability to deliver quality solutions for geotechnical construction needs [2]. - The new contracts include a significant project for tunnel grouting applications, along with several small to mid-sized projects for lightweight fill applications in Canada and the US [8]. Financial Health - CEMATRIX is characterized as an early-stage growth company with significant revenue, positive EBITDA, and positive cash flow from operations, supported by a healthy balance sheet [5].

Core Viewpoint - CEMATRIX Corporation reported a decline in first-quarter revenues and gross margins compared to the previous year, but maintains a strong balance sheet and anticipates increased activity in the upcoming quarter [2][3]. Financial Performance - First quarter revenues were $6.6 million, down from $8.4 million in the same period last year, representing a decrease of 21% [3]. - Gross margin decreased to $1.4 million from $2.6 million, a decline of 46%, with gross margin percentage dropping from 30% to 22% [3]. - Operating income turned negative at $(0.7) million compared to a positive $0.3 million last year, marking a 333% decline [3]. - Adjusted EBITDA also fell to $(0.1) million from $1.0 million, a decrease of 110% [3]. - Cash flow from operations was $(0.1) million, down from $0.9 million, reflecting a 111% decline [3]. Business Highlights - The company announced $5.8 million in new contracts on February 10, 2025, followed by $5.4 million on March 19, 2025, and $9.7 million on April 17, 2025 [5]. - CEMATRIX is focused on equipment maintenance during slower periods to prepare for the spring construction season and is actively pursuing new work [2]. Financial Position - CEMATRIX reported a cash balance of $8.5 million and successfully paid down its long-term debt from $1.1 million to zero [2]. - The company added an equipment financing loan of $1.6 million as part of its long-term capital structure strategy, maintaining low leverage [2]. Company Overview - CEMATRIX specializes in producing cellular concrete solutions, which are used in various construction applications, including lightweight engineered fill and insulating road subbases [6][7]. - The company operates through subsidiaries including CEMATRIX (Canada) Inc., MixOnSite USA Inc., and Pacific International Grout Company [8].

Core Insights - Orion Group Holdings, Inc. reported a strong start to 2025 with a 17% year-over-year increase in revenue to $189 million and a doubling of Adjusted EBITDA, reflecting the effectiveness of its operating model and strategic execution [4][6][9] - The company secured $349 million in new contract awards year-to-date, indicating robust demand in its markets, particularly in Marine and Concrete segments [5][9] - Orion maintains its full-year 2025 revenue guidance of $800 million to $850 million and Adjusted EBITDA guidance of $42 million to $46 million, while preparing for transformational growth in 2026 and beyond [5][9] Financial Performance - Contract revenues for Q1 2025 were $188.7 million, up $28 million or 17.4% from $160.7 million in Q1 2024, driven by large marine construction contracts and new concrete projects [6][9] - Gross profit increased to $23 million, representing 12.2% of revenue, compared to $15.5 million or 9.7% of revenue in Q1 2024, primarily due to improved indirect expenses in the marine segment [7][9] - Selling, general and administrative expenses rose to $22.5 million, up from $19 million in Q1 2024, reflecting increased incentive compensation and other operational costs [8][9] Adjusted Metrics - The company reported a GAAP net loss of $1.4 million or $0.04 per diluted share, an improvement from a net loss of $6.1 million or $0.19 per diluted share in the prior year [9][10] - Adjusted net income for Q1 2025 was $0.3 million or $0.01 per diluted share, compared to an adjusted net loss of $3.6 million or $0.11 per diluted share in Q1 2024 [9][10] - Adjusted EBITDA for the first quarter increased by 100.4% to $8.2 million, with an Adjusted EBITDA margin of 4.3%, compared to 2.5% in the prior year [11][9] Backlog and Future Contracts - Total backlog as of March 31, 2025, was $839.7 million, up from $729.1 million at the end of 2024 and $756.6 million a year earlier, indicating strong future revenue potential [12][9] - Recent contract wins post-quarter end totaled $51.2 million, further enhancing the company's project pipeline [13][9] Balance Sheet Overview - As of March 31, 2025, current assets were $267 million, with unrestricted cash and cash equivalents of $13 million, and total debt outstanding was $23.3 million [14][9] - The company had no outstanding borrowings under its revolving credit facility at the end of the quarter, indicating a strong liquidity position [14][9]