Orion Group (ORN) investor relations material

Business overview and strategy

• Specializes in large, mission-critical infrastructure projects in marine and concrete segments, serving diverse end markets across the U.S., Pacific Islands, Western Canada, and the Caribbean.

• Offers comprehensive marine construction, dredging, specialty services, and turnkey concrete solutions for commercial, structural, and industrial clients.

• Maintains high barriers to entry with unique marine equipment, Jones Act protection, and a legacy of customer satisfaction.

• Pursues organic growth, geographic expansion, and strategic, accretive acquisitions to enhance capabilities and market reach.

• Focuses on high-quality projects, unified operations, and disciplined valuation for M&A.

Market opportunity and customer base

• Benefits from strong political and economic tailwinds, including infrastructure acts, Navy expansion, coastal rehabilitation, and energy security.

• Holds a $23B opportunity pipeline, with 90% in marine and 76% in public sector projects.

• Shortlisted for multiple U.S. Navy Pacific Deterrence Initiative contracts, positioning for long-term growth.

• Serves a highly diversified customer base, including federal, state, local governments, and major private enterprises.

• Long-tenured relationships with clients in energy, government, transportation, and commercial sectors.

Financial performance and guidance

• Achieved $852M revenue and $45M adjusted EBITDA in 2025, with 7% and 8% year-over-year growth, respectively.

• Fiscal 2026 guidance projects $900M–$950M revenue and $54M–$58M adjusted EBITDA, representing 9% and 24% annual increases at the midpoint.

• Adjusted EPS expected to rise 56% in 2026, with capex guidance consistent with prior year.

• Backlog reached $640M at year-end 2025, supported by recent contract wins in marine and concrete segments.

• 2026 revenue guidance reflects a 54% increase since 2021, with adjusted EBITDA more than tripling over the same period.