Orion Group Holdings outlined full-year 2026 adjusted EBITDA guidance of $50 million to $54 million while attributing second-quarter weakness to client-driven delays in its Marine business. CEO Travis Boone said the delays were a timing issue, not a performance or operational problem, and noted the company recorded over $275 million in bookings during the quarter, bringing backlog to $722 million. CFO Alison Vasquez reported second-quarter revenue of $222 million, an 8% increase from the prior year, but gross profit fell to $23 million due to lower Marine volume and equipment utilization. The company posted a GAAP loss of $4.1 million and adjusted EBITDA of $7.9 million, down from $11 million a year earlier. Management kept full-year revenue guidance unchanged at $900 million to $950 million, with adjusted EPS of $0.23 to $0.30, and said 90% of Marine backlog for the second half is under contract.
Orion Group Holdings IncCompany set 2026 adjusted EBITDA guidance of $50M-$54M, indicating long-term profitability outlook.