Houston-based Orion Group Holdings reported third-quarter revenue of $256.2 million on October 27, up 14 per cent from $225.1 million a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 37 per cent to $17.9 million, while net income increased to $5.5 million from $3.3 million. The company attributed the growth partly to its acquisition of jetty and breakwater contractor JE McAmis in February.
Marine segment revenue rose to $161.2 million from $142.9 million, but adjusted EBITDA for the segment fell to $18.8 million from $24.3 million. The company said project close-out benefits recorded in 2025 did not recur.
At September 30, the company’s marine backlog was $506 million, compared with $480 million at 2025's close. Marine contract awards during the quarter included a US Navy wharf repair, the next phase of the North Jetty project and two Hawaii projects.
Orion was also selected for two Naval Facilities Engineering Systems Command (NAVFAC) Northwest frameworks: the $9 billion VENTI multiple award construction contract (MACC), through Clark Orion JV, and the $700 million Waterfront MACC covering piers and wharves, with anticipated task orders of $100,000–$200 million.
The company cautioned that selection may not result in awarded work.
"Our recent selection on two additional US Navy MACC contract vehicles broadens our access to significant federal opportunities," said Chief Executive Travis Boone.
Orion reiterated full-year revenue guidance of $900–950 million, up from the levels it reported when it returned to profitability in 2025.
