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Wednesday, February 5, 2020
Orion Group Holdings (ORN)
Significant Industrial Award Pushes YTD Awards to $87 million
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.
$47 million award is first sign of emerging industrial strategy. The multi-discipline work for the Port of New Orleans on the Nashville Terminal in New Orleans is the first industrial award. Work includes demolishing a warehouse, repairing/upgrading existing wharf infrastructure, and modifying/installing rails for four container cranes. Work is longer term, slated to begin this quarter and run six quarters through 3Q2021.
Combined with prior concrete awards of $40 million, YTD awards total $87 million. The longer term industrial award complements the six shorter concrete jobs previously awarded that begin this quarter and...
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.