Orion Group Holdings, Inc. (NYSE: ORN) (“Orion” and “Company”), a
leading specialty construction and engineering company today
announced three contract awards, two in its Marine segment and one
in its Concrete segment. Each of these projects is expected to
start in 2025 and will be completed within 20 months.
Orion Marine was awarded a significant $88 million contract by
South Carolina State Ports Authority in a competitive bid process.
The project is for the Hugh K. Leatherman Terminal Wharf Extension
at the Port of Charleston and Orion will self-perform the
construction of 1,600 linear feet of concrete pile-supported wharf
as a northward extension of the existing terminal. The scope
includes the installation of precast, prestressed concrete piles,
along with precast caps, deck slabs, and stay-in-place concrete
tubes, as well as removing dredged material to accommodate larger
vessels and placing bedding and armor stone for shoreline
stabilization. The project will commence in the first quarter of
2025 with an anticipated duration of 20 months.
In addition, Orion Marine was awarded a $12.9 million
subcontract to Haskell, a global architecture, engineering and
construction firm, for the City of Tampa’s design-build West Bank
Riverwalk pedestrian bridge project along the Hillsborough River in
downtown Tampa, Florida. Design is currently underway, and
construction is scheduled to begin in the third quarter of 2025,
with an anticipated duration of approximately 18 months.
Orion Concrete was awarded a $10.3 million contract by HITT
Contracting, LLC for the construction of a new data center building
for a confidential hyperscaler client in Garland, Texas. The
project is expected to start in January 2025 with a duration of
nine months.“We are proud to be selected to as a trusted partner on
these key projects,” said Travis Boone, President and Chief
Executive Officer of Orion Group Holdings. “The South Carolina
State Ports Authority project is a prime example of the growing
demand for port expansion driven by larger vessels and increased
global trade. Orion Marine is highly qualified for this work based
on our growing reputation for on-time, on-budget delivery that
meets the highest safety and quality standards. In our Concrete
business, the new data center award reflects the strong
relationships we have established with key contractors who rely on
Orion’s skillful execution and its industry leading safety
record.”
Orion Group Holdings, Inc. is a renowned name in specialty
construction, known for its dedication to quality, innovation, and
timely project execution. With these new contract awards, Orion
continues to strengthen its position as an industry leader capable
of tackling complex projects with unmatched expertise.
About Orion Group Holdings
Orion Group Holdings, Inc., a leading specialty construction
company serving the infrastructure, industrial and building
sectors, provides services both on and off the water in the
continental United States, Alaska, Hawaii,
Canada and the Caribbean Basin through its marine
segment and its concrete segment. The Company's marine segment
provides construction and dredging services relating to marine
transportation facility construction, marine pipeline construction,
marine environmental structures, dredging of waterways, channels
and ports, environmental dredging, design, and specialty services.
Its concrete segment provides turnkey concrete construction
services including place and finish, site prep, layout, forming,
and rebar placement for large commercial, structural and other
associated business areas. The Company is headquartered
in Houston, Texas with regional offices throughout its
operating areas. https://www.oriongroupholdingsinc.com.
Forward-Looking Statements
The matters discussed in this press release may constitute or
include projections or other forward-looking statements within the
meaning of the “safe harbor” provisions of Section 27A of the
Securities Exchange Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, of which provisions
the Company is availing itself. Certain forward-looking statements
can be identified by the use of forward-looking terminology, such
as 'believes', 'expects', 'may', 'will', 'could', 'should',
'seeks', 'approximately', 'intends', 'plans', 'estimates', or
'anticipates', or the negative thereof or other comparable
terminology, or by discussions of strategy, plans, objectives,
intentions, estimates, forecasts, outlook, assumptions, or goals.
In particular, statements regarding future operations or results,
including those set forth in this press release, and any other
statement, express or implied, concerning future operating results
or the future generation of or ability to generate revenues,
income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted
EBITDA margin, or cash flow, including to service debt, and
including any estimates, forecasts or assumptions regarding future
revenues or revenue growth, , are forward-looking statements.
Forward-looking statements also include project award
announcements, estimated project start dates, anticipated revenues,
and contract options which may or may not be awarded in the future.
Forward-looking statements involve risks, including those
associated with the Company's fixed price contracts that impacts
profits, unforeseen productivity delays that may alter the final
profitability of the contract, cancellation of the contract by the
customer for unforeseen reasons, delays or decreases in funding by
the customer, levels and predictability of government funding or
other governmental budgetary constraints, and any potential
contract options which may or may not be awarded in the future, and
are at the sole discretion of award by the customer. Past
performance is not necessarily an indicator of future results. In
light of these and other uncertainties, the inclusion of
forward-looking statements in this press release should not be
regarded as a representation by the Company that the Company's
plans, estimates, forecasts, goals, intentions, or objectives will
be achieved or realized. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. The Company assumes no obligation to update
information contained in this press release whether as a result of
new developments or otherwise, except as required by law.
Please refer to the Company's 2022 Annual Report on Form 10-K,
filed on March 16, 2023, which is available on its website at
www.oriongroupholdingsinc.com or at the SEC's website at
www.sec.gov, for additional and more detailed discussion of risk
factors that could cause actual results to differ materially from
our current expectations, estimates or forecasts.
Contact:
Financial Profiles, Inc.Margaret Boyce
310-622-8247mboyce@finprofiles.com
Source: Orion Group Holdings, Inc.
Orion (NYSE:ORN)
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から 11 2024 まで 12 2024
Orion (NYSE:ORN)
過去 株価チャート
から 12 2023 まで 12 2024