Orion Group (ORN) investor relations material

Business overview and strategy

• Specializes in marine and concrete construction for mission-critical projects, with a strong safety record and industry recognitions.

• Holds high barriers to entry due to the Jones Act, unique equipment, and deep customer relationships.

• Pursues organic and geographic growth, strategic acquisitions, and operational discipline to drive value.

• Maintains a robust $27B opportunity pipeline, with 88% in marine and 70% in public sector projects.

• Focuses on long-term infrastructure trends, including defense, ports, AI/cloud, and coastal resilience.

Financial performance and guidance

• 2026 revenue guidance is $900M–$950M, up from $852M in 2025, reflecting a 9% CAGR since 2021.

• 2026 adjusted EBITDA guidance is $50M–$54M, more than triple 2021 levels, with a 25% CAGR.

• Q2 2026 revenue was $222M, with adjusted EBITDA of $8M and margin of 3.5%.

• 2026 adjusted EPS guidance is $0.23–$0.30, revised down from previous guidance.

• Maintains leverage ratio below 2.5x and prioritizes capital deployment for growth and strategic opportunities.

Market positioning and recent developments

• Acquired J.E. McAmis for $60M, expanding marine capabilities and West Coast presence.

• Selected for multiple U.S. Navy MACC contracts, positioning for significant Pacific infrastructure work.

• Backlog reached $722M in June 2026, supported by recent wins in marine and infrastructure projects.

• Serves a diversified customer base across energy, government, data centers, and commercial sectors.

• Management team brings extensive industry experience and a track record of transformational leadership.