Orion Group Holdings returns to profitability in Q2 2025

Orion Group Holdings swung back to profitability in the second quarter of 2025, reporting a modest net income compared to a significant loss in the same period last year.

The US-based marine infrastructure construction firm’s turnaround was driven by a seven per cent increase in revenue, reflecting higher project volumes across both its marine and concrete segments and improved operational performance, the company said.

The company posted revenues of $205.3 million for the three months ending June 30, up from $192.2 million in the second quarter of 2024. This growth was instrumental in delivering a net income of $0.8 million, a stark contrast to the $6.6 million loss posted in the prior-year period.

The improved bottom line was achieved despite a rise in outgoings, with the costs of contract revenues increasing to $179.5 million from $173.9 million, and selling, general and administrative expenses also climbing to $22.8 million.

For the first six months of the year, the positive trend continued. Revenue grew to $393.9 million from $352.8 million in the first half of 2024, which helped to significantly narrow the company's net loss to just $0.6 million, compared to a $12.7 million loss in the same period last year. The company’s contracted backlog stood at $750 million at the end of the quarter.

Looking ahead, Orion has reaffirmed its financial guidance for the full 2025 fiscal year, anticipating revenues in the range of $800 million to $850 million. “As we enter the second half of the year, we are optimistic about our outlook,” Travis Boone, Orion Group’s CEO, concluded.