Monday, April 01, 2024
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NYC NDRS. We hosted Orion CEO Travis Boone and CFO Scott Thanisch for a series of investor meetings in NYC last week. The key takeaway for us was management’s confidence in being able to capitalize on the significant upcycle in marine construction spending over the next several years.
Phase 2. Having completed Phase 1 of “righting the ship” in 2023, Orion is onto Phase 2 of its strategic plan: driving growth potential. Management highlighted numerous industry tailwinds across both business segments. Notably, the pipeline of opportunity has grown to over $11 billion from just $3 billion twelve months ago.
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