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Orion Group Holdings Inc

Orion Group Holdings Inc

ORN
$12.80USD↓-2.88%-0.38 today

MARKET CAP

518.1M

P/E (TTM)

44.1x

FWD P/E

21.7x

DAY RANGE

$11 – $13

52W RANGE

$6
$17

AI Summary

Stalk
Sell NowMedium

ORN is in Stage 3 distribution, with the uptrend ladder broken and short-term EMAs now acting as resistance. The medium-term bias is bearish given failed rally attempts into the 9/21 EMA zone and emerging lower highs. Short-term conditions favor further downside continuation as price trades below all EMAs and the 50DMA with no exhaustion visible. Execution should target sell-side interaction on rallies into the EMA resistance zone around mid-13s to mid-14s. Key risks include potential demand absorption at the 50DMA and near-oversold RSI bounces.

  • ↑Q1 2026 revenue of $216M (+15% YoY) and adj. EBITDA of $8.7M
  • ↑$24B evenly distributed pipeline (2026–28) underpins backlog growth
  • ↓Q1 concrete arm lost $4M EBITDA amid labor and resource challenges
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Orion Group Holdings, Inc. (NYSE: ORN) primarily operates within the infrastructure sector, specializing in marine construction and concrete services. It plays a strategic role in high-demand markets like defense and energy, positioning itself advantageously amidst ongoing governmental initiatives aimed at strengthening domestic infrastructure. With a robust project pipeline estimated at $24 billion, Orion is well-placed to capitalize on significant investments flowing into infrastructure modernization, particularly in marine sectors influenced by geopolitical dynamics.

Bull says

  • ↑Q1 2026 revenue of $216M (+15% YoY) and adj. EBITDA of $8.7M
  • ↑$24B evenly distributed pipeline (2026–28) underpins backlog growth
  • ↑$1.5T defense budget proposal provides marine/infrastructure tailwind
  • ↑High profitability and growth metrics support resilient margins
  • ↑Sensitivity to rising rates likely boosts project returns
  • ↑Backlog rose to $668M with $220M in new awards in Q1

Bear says

  • ↓Q1 concrete arm lost $4M EBITDA amid labor and resource challenges
  • ↓Major revenue tied to federal budgets risks cuts or delays
  • ↓High short interest indicates market skepticism and price pressure
  • ↓Potential Jones Act changes could disrupt maritime operations
  • ↓Negative earnings and dividend yield factors raise return concerns
  • ↓Size factor suggests scaling and competition pressures

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-01-2026bullish

Transcript signals

Bull points

  • Your operating cash flow year over year was very strong on what typically would be a slower cash flow quarter.
  • I think the balance sheet is in good shape. We're right at one and a half times net leverage. And so I think that's a good place for us to be.
  • We're pleased to report first quarter revenue of $216 million, gap net income of $4.7 million, adjusted EBITDA of 8.7 million, and adjusted EPS of 5 cents per share. As compared to the first quarter of 2025, these results represent a 15% growth in revenue, 7% growth in adjusted EBITDA attributable to strong momentum and expansion of services in our concrete segment, and solid, consistent, predictable project execution across the company.

Bear points

  • Our marine segment reported revenue of $110 million and adjusted EBITDA of $12 million, representing an 11% margin, compared to $127 million in revenue and adjusted EBITDA of $17 million in the first quarter of 2025. These decreases were primarily due to the ramp down of several large projects and early starts on new projects kicking off.
  • You know, if it becomes a very long-term situation with high fuel prices, you know, we could see some minor impacts, but it's right now we're in a kind of watch and see mode and make sure we're protecting ourselves as much as we can.
Read full transcript analysis ›