Orion Group Returns to Profitability With Strong Q1 Results

Orion Group Holdings ( (ORN) ) has provided an update.

On April 28, 2026, Orion Group Holdings reported first-quarter 2026 results showing a return to profitability, with revenue rising 15% year over year to $216.3 million and GAAP net income reaching $4.7 million, or $0.12 per diluted share, driven largely by strong Concrete segment demand and improved project execution. Adjusted EBITDA increased to $8.7 million, operating cash flow totaled $4.9 million, and the company’s backlog grew to $668 million, supported by $219 million in new awards across marine infrastructure and data center-related concrete work.

Management highlighted robust Marine segment demand tied to defense and port modernization spending, including opportunities with the U.S. Coast Guard and federal agencies, while noting integration progress on the J.E. McAmis acquisition, which contributed to higher SG&A and new borrowing. With a $24 billion opportunity pipeline, expanding backlog and healthy activity in both Marine and Concrete segments, Orion reaffirmed its full-year 2026 guidance, signaling confidence in sustained growth and margin improvement for shareholders and other stakeholders.

The most recent analyst rating on (ORN) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Orion Group Holdings stock, see the ORN Stock Forecast page.

Spark’s Take on ORN Stock

According to Spark, TipRanks’ AI Analyst, ORN is a Neutral.

ORN scores mid-range: improving operations and a materially stronger balance sheet support the rating, and upbeat 2026 guidance/pipeline are additional positives. Offsetting these, weak recent free-cash-flow performance, very high P/E valuation, and bearish near-term technical momentum limit the overall score.

To see Spark’s full report on ORN stock, click here.

More about Orion Group Holdings

Orion Group Holdings, Inc., based in Houston, is a specialty construction company serving infrastructure, industrial and building markets across the continental United States, Alaska, Hawaii, Canada and the Caribbean. Through its Marine and Concrete segments, it provides marine construction, dredging, environmental and pipeline services, as well as turnkey concrete work for large commercial and structural projects.

The Marine segment focuses on marine transportation facilities, marine pipelines, environmental structures and dredging of waterways and ports, while also offering design and specialty services. The Concrete segment delivers place-and-finish, site preparation, layout, forming and rebar placement, with growing exposure to data centers, cold storage and advanced manufacturing projects.

Average Trading Volume: 375,002

Technical Sentiment Signal: Buy

Current Market Cap: $490M

See more data about ORN stock on TipRanks’ Stock Analysis page.