Orion Group Holdings, Inc. reported a revenue of $852.3 million for the fiscal year ending December 31, 2025, marking a 7% increase from $796.4 million in 2024. The company achieved a net income of $2.5 million, a significant turnaround from a net loss of $1.6 million in the previous year. The growth in revenue was attributed to new awards and increased project volume across both its marine and concrete segments. The marine segment generated $544.8 million, while the concrete segment contributed $307.4 million to the total revenue.
The company’s operational performance showed notable improvements, with gross profit rising to $105.6 million, up 16% from $91.2 million in 2024. This increase in gross profit margin, which rose from 11% to 12%, was driven by enhanced project execution and better utilization of resources. However, selling, general, and administrative expenses also increased by 13% to $93.5 million, reflecting investments in business growth and operational support.
In a strategic move, Orion completed the acquisition of J.E. McAmis, Inc. on February 3, 2026, for a total consideration of $62 million, which included cash, a promissory note, and shares of common stock. This acquisition is expected to enhance Orion's capabilities in dredging and marine construction, aligning with its focus on expanding its service offerings in the marine and infrastructure sectors. The company also reported a consolidated backlog of $640 million as of December 31, 2025, indicating a strong pipeline of future work.
Operationally, Orion employed over 2,000 individuals as of the end of 2025, with a workforce split between its marine and concrete segments. The company continues to focus on geographic expansion and has identified a pipeline of opportunities valued at approximately $22 billion. The demand for its services is supported by federal funding for infrastructure projects, ongoing U.S. Navy modernization efforts, and increasing investments in coastal restoration and energy-related construction.
Looking ahead, Orion anticipates continued growth driven by favorable market conditions in both its marine and concrete segments. The company plans to leverage its recent acquisition and existing capabilities to capitalize on infrastructure investments and maintain its competitive position in the market. However, it acknowledges potential challenges, including economic fluctuations and supply chain constraints, which could impact project timelines and profitability.
About Orion Group Holdings Inc
Orion Group Holdings, Inc. is a leading specialty construction company providing marine and concrete services across the U.S., Alaska, Hawaii, Canada, and the Caribbean. Its marine segment offers port expansion, dredging, bridge, and environmental construction, serving government and private clients. The concrete segment delivers commercial, industrial, and institutional construction. The company emphasizes safety, project management, and a diverse equipment fleet to support infrastructure development and environmental projects.
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