Movers and SHAKERS
Orion Group Holdings (ORN)
Post Call Update - Slow Start But Year Is On Track
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.
Reported 1Q2021 EBITDA of $9.6 million was in line with expectations due to asset sales of $1.6 million. Severe weather hit was >$8 million. Versus 1Q2020, EBITDA of $9.6 million was $2.6 million lower. Profitability was solid, albeit at lower levels with gross margin of 10.1% and EBITDA margin of 6.2%. Excluding asset sales, EBITDA was $7.9 million versus $11.2 million in 1Q2020, and EBITDA margin of 5.2% dropped 150 basis points versus 1Q2020.
Maintaining 2021 EBITDA estimate of $47.0 million, including asset sales of $1.6 million. The company faces tough comps, but Marine results should pick up over rest of year and Concrete represents upside potential ...
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.