Orion Group Secures $211.7 Million in Marine, Concrete Contracts; Shares Surge

MT Newswires Live

02/10

Orion Group Holdings (ORN) said Monday it received new awards totaling about $211.7 million across its marine and concrete segments, with projects expected to begin in 2025.

The marine segment received a $113.7 million contract from the Texas Department of Transportation to replace the State Highway 6 bridge over Lake Waco in Central Texas.

Additionally, Orion secured three contracts totaling $29.8 million for repairing Wharves at the port of Houston, improvements to the cruise terminal at the port of Galveston, and a private dredging project.

In the concrete segment, Orion won over $68.2 million in new contracts in the past two months. The company said it is also negotiating a contract for a 1-million-square-foot data center project in Iowa.

Shares of Orion Group were up nearly 15% in recent trading.

Price: 9.22, Change: +1.19, Percent Change: +14.86

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