Friday, April 29, 2022

Orion Group Holdings (ORN)
Post Call Commentary and Updated Model

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

Joe Gomes, Senior Research Analyst, 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.

Interim CEO. The key Company development was the appointment of Austin Shanfelter as Interim CEO on April 7th. A member of the Board since 2007, Mr. Shanfelter brings a wealth of experience to the position, including as Chief Executive Officer and President of MasTec from 2001 to 2007.

Short-term Goals.  Although it is in the early days, among Mr. Shanfelter’s immediate goals is to improve the quality of the backlog, improve utilization of the asset base, and enhance efficiencies to capitalize on industry tailwinds. Given Mr. Shanfelter’s background, we believe he will be successful in implementing the necessary changes to improve Orion’s operating performance …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.