Orion Group Holdings (0OM) Q3 2026 Earnings Report
DE:0OM Q3 2026 EPS Results
- Actual EPS
- EUR 0.11
- Consensus EPS
- EUR 0.08
- Beat/Miss
- Beat by +EUR 0.02
- One Year Ago EPS
- EUR 0.08
DE:0OM Q3 2026 Revenue Results
- Actual Revenue
- EUR 229.36M
- Expected Revenue
- EUR 220.25M
- Beat/Miss
- Beat by +EUR 9.11M
- YoY Revenue Growth
- +13.80%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- After Close
- Conference Call
- Tuesday, October 27, 2026
Orion Group Holdings's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by double-digit revenue and adjusted EBITDA growth, strong demand, a $2 billion submitted-bid pipeline, new strategic Navy contract positions, Concrete execution, geographic expansion, and reaffirmed guidance with tracking toward the upper end of the ranges. The main challenges were slower customer award timing, backlog and book-to-bill below the level of submitted bids, limited visibility on MACC task orders, higher borrowing costs, negative full-year free cash flow expectations, working-capital conversion, and Marine margins below the prior-year comparison.
Management reiterated FY 2026 annual guidance of revenue of $900 million-950 million, adjusted EBITDA of $50 million-54 million, adjusted EPS of $0.23-$0.30 per share, and CapEx of $25 million-35 million, and is “tracking toward the upper end of the range for each financial metric.” Alison Vasquez said 2026 free cash from a full-year perspective would be “pretty challenging,” CapEx would “probably be closer to the $30 million,” and operating cash flow should have “a good fourth quarter.” Concrete’s normative margins are expected to be “kind of in that upper or in that kind of like mid-single-digit,” with an “ultimate goal to continue to inch those margins up into the upper single-digits over time” over a “one, two, three-year timeframe,” while Marine margins are expected to be in the “low to mid double digit range,” with “12%, 13%” penciled in.
- Strong Consolidated Third-Quarter PerformanceThird-quarter revenue increased 14% year over year to $256 million, adjusted EBITDA rose 37% to $18 million, adjusted EBITDA margin expanded 120 basis points, gross profit was $33 million, GAAP net income was $5.5 million, and adjusted EPS was $0.12 per share.
- Marine Revenue Growth and McAmis ContributionMarine revenue grew 13% to $161 million, supported by the Sargent Beach Coastal Restoration project, an Alabama port modernization project, a Texas bridge project, and Pacific Rock and Dredge's opening work window. McAmis contributed revenue with highly accretive margins and positive cash conversion, and Orion retained its entire workforce following the acquisition.
- Concrete Segment Growth and ExecutionConcrete revenue increased 16% to $95 million, primarily due to geographic expansion, growth in site civil services, and excellent execution supported by favorable operating conditions. Concrete adjusted EBITDA reached $10 million, with an 11% margin.
- Mission-Critical Project ExposureApproximately half of quarterly Concrete revenue related to mission-critical projects. Management said demand for data center and other mission-critical work continued despite interest-rate increases, while awards also included cold storage, hospital, higher education, and commercial projects.
- Concrete Margin Upside and Long-Term Improvement OpportunityConcrete's 11% adjusted EBITDA margin benefited from strong demand, productivity, favorable weather, coordination between site civil and Concrete teams, and favorable project upsides that contributed about 2% of margin uplift. Management said trailing-12-month Concrete EBITDA margins were around 7%, with a target of moving consistently into the upper single-digit range over a one- to three-year timeframe.
- Expanded Site Civil CapabilitiesSite civil services, introduced less than a year ago and primarily associated with mission-critical work, were described as going very well, with strong opportunities, profitable execution, and satisfied clients. Management expects the offering to continue growing.
- Large Opportunity PipelineSubmitted bids awaiting award increased to approximately $2 billion from just over $1 billion at the beginning of the year, split roughly evenly between Concrete and Marine. Management said the win rate remained strong and steady, while bid activity increased across the business.
- New Contract Wins and Future AwardsOrion booked $179 million of new contract wins during the quarter. In October, after quarter-end, it secured approximately $100 million of additional awards, including two large mission-critical projects, site civil work for a premier technology company, a cold storage facility, a hospital, and multiple commercial buildings.
- Strategic Marine Contract SelectionOrion was selected as the marine contractor on a fully funded federal design-to-budget contract in the Pacific Northwest with an expected value of about $200 million; the project is expected to convert to backlog in mid to late 2027. Orion was also selected for a Florida naval-base wharf reconstruction, projects in Hawaii, and the next phase of the North Jetty of the Columbia River reconstruction.
- Prime Positions on Navy MACCsOrion was selected as a prime contractor on two NAVFAC Northwest MACCs: the $9 billion U.S. Navy VENTI MACC and the $700 million NAVFAC Northwest Waterfront MACC. Management said the positions provide access to a meaningful future pipeline and greater control over pursuit and delivery strategy.
- Broad Infrastructure and Defense DemandManagement described strong customer activity across both operating segments and a multi-year infrastructure investment cycle spanning national defense, energy security, port modernization, coastal resilience, industrial and manufacturing reshoring, and mission-critical investments.
- Geographic Expansion and DiversificationExpansion into Florida has progressed well, while Arizona is developing following key clients into the market. Management said the broader footprint expands the customer base, project mix, and end-market exposure while reducing the impact of localized weather events on overall results.
- Healthy Balance SheetNet leverage was approximately 2.2x at quarter-end, which management said left sufficient capacity to support the business.
- Full-Year 2026 Guidance ReaffirmedOrion reiterated full-year 2026 guidance of $900 million-$950 million in revenue, $50 million-$54 million in adjusted EBITDA, $0.23-$0.30 in adjusted EPS, and $25 million-$35 million in CapEx. Management said it was tracking toward the upper end of the range for each financial metric.
- Industry and Workplace RecognitionOrion was named one of the Houston Business Journal's Best Places to Work and ranked number three in marine and port facilities and number 12 in specialty concrete by ENR Magazine.
DE:0OM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 0.06- | 0.07 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 0.080.11 | 0.08 | 33.33% (+0.03) | |
| Jul 28, 2026 | 2026 (Q2) | 0.060.02 | 0.06 | -71.43% (-0.04) | |
| Apr 28, 2026 | 2026 (Q1) | 0.000.04 | 0.01 | 400.00% (+0.04) | |
| Mar 04, 2026 | 2025 (Q4) | 0.050.07 | 0.14 | -50.00% (-0.07) | |
| Oct 29, 2025 | 2025 (Q3) | 0.050.08 | 0.14 | -43.75% (-0.06) | |
| Jul 29, 2025 | 2025 (Q2) | 0.000.06 | -0.14 | 143.75% (+0.21) | |
| Apr 29, 2025 | 2025 (Q1) | -0.060.01 | -0.11 | 108.33% (+0.12) | |
| Mar 04, 2025 | 2024 (Q4) | 0.160.14 | -0.12 | 223.08% (+0.26) | |
| Oct 30, 2024 | 2024 (Q3) | 0.060.14 | -0.02 | 900.00% (+0.16) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
