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Orion Group Holdings (ORN) – Marine Awards Boost Total 4Q2021 Awards

Industrials
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Tuesday, December 21, 2021

Orion Group Holdings (ORN)
Marine Awards Boost Total 4Q2021 Awards

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Two Marine awards total ~$33 million. Last Thursday, design-bid-build work of $28.3 million was awarded by the Naval Facilities Engineering Command (NAVFAC) Southeast. The work involves repairing and updating Atlantic Undersea Test and Evaluation Center (AUTEC) Facility 1902 Pier at Andros Island, Bahamas. Work should begin in 2Q2022 and run into early 2024. A smaller award of $4.4 million involves rehabbing an existing barge dock for a private company. Work will be completed over the first three quarters of 2022.

    4Q2021 awards exceed $77 million.  To date, 4Q2021 award announcements include five Marine projects for $49 million and three Concrete projects for $28 million. Combined with the 3Q2021 backlog of $573 million and potential backlog of $676 million, the outlook appears favorable …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

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