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Dec 31, 2025
Orion Group Q4 2025 Earnings Report
Orion Group reported higher fourth quarter 2025 revenue with reduced profitability year-over-year, while Marine margins improved and Concrete posted a loss.
Key Takeaways
Fourth quarter 2025 revenue increased year-over-year, driven by strong growth in the Concrete segment, but net income declined significantly compared to the prior year due to debt extinguishment costs and weaker margins.
Revenue rose to 233223000 from 216880000 year-over-year.
Net loss was 240000 compared to net income of 6754000 in the prior year quarter.
Adjusted EBITDA declined to 12962000 from 17072000 year-over-year.
Total backlog stood at 640000000 at quarter end.
Revenue by Segment
Forward Guidance
For full year 2026, Orion expects revenue between 900000000 and 950000000 and Adjusted EBITDA between 54000000 and 58000000, reflecting anticipated growth and margin expansion.
Positive Outlook
- Revenue growth expected in 2026.
- Adjusted EBITDA projected to increase year-over-year.
- Strong $23000000000 pipeline inclusive of acquisition.
- Acquisition of J.E. McAmis enhances marine capabilities.
- Improved liquidity following new $120000000 credit facility.
Challenges Ahead
- Customer delays due to tariff-related uncertainty.
- Exposure to government funding disruptions.
- Concrete segment posted negative Adjusted EBITDA in Q4.
- Loss on extinguishment of debt impacted Q4 earnings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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