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Orion Group Holdings (ORN)
Two Marine Awards Help 2020 Outlook
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 full report for price target, fundamental analysis and rating.
- Marine awards of $14 million add to record backlog. Two dredging jobs on the Gulf Intracoastal Waterway (GIWW) in Texas were awarded; one for $6.6 million and another for $7.8 million. The work, which should be completed in 2H2020, helps marine backlog visibility into 2020.
- The outlook looks very good due to record backlog and added awards on the horizon. About $1.3 billion of bids remain outstanding so additional awards are likely. A large proposed...
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 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.