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Wednesday, January 15, 2020
Orion Group Holdings (ORN)
New Concrete Awards Help Near-term Visibility
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.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Concrete awards of $22 million helps 2020 visibility. Three light commercial jobs in Texas totaling $22 million were awarded; two in Dallas for $14 million and another in Houston for $8 million. The work helps concrete visibility since it begins this quarter with completion by end of 3Q2020.
The outlook remains very good and added awards on the horizon. More than $1.0 billion of bids remain outstanding so additional awards are likely. A large proposed cruise port project in George Town is likely to slip further into this year due to…
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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