Earnings release
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Orion Group Holdings Reports Third Quarter 2026 Results 27 Oct 2026 / EST HOUSTON, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN; NYSE TX: ORN) (the “Company” or “Orion”), a leading specialty construc on company, today reported its financial results for the third quarter ended September 30, 2026. Highlights for the quarter ended September 30, 2026 Revenue of $256.2 million, GAAP net income of $5.5 million, or $0.14 per diluted share, Adjusted EBITDA of $17.9 million, and Adjusted EPS of $0.12 per diluted share Booked awards and change orders of $179 million; won posi ons on two addi onal U.S. Navy Mul ple Award Construc on Contracts (“MACC”) Reiterated full year 2026 financial guidance “We delivered a strong third quarter, marked by double-digit revenue growth, expanding profitability and margins, and solid bookings and awards. These results reflect the health of our end markets and our commitment to delivering with predictable excellence,” said Travis Boone, President and Chief Execu ve Officer of Orion. “We expect this momentum to con nue into the fourth quarter, and we are pleased to reiterate our 2026 annual guidance.” “The Concrete segment delivered an outstanding quarter, highlighted by top- and bo om-line growth with excellent margin expansion benefi ed by strong execu on. Ac vity remains robust across mission-cri cal and large-scale infrastructure markets, supported by our geographic growth, broader site civil services, and a diverse mix of project awards.” “In Marine, end markets remain strong, and we are ac vely engaging early on large, complex projects, sharpening our compe ve posi oning. Our recent selec on on two addi onal U.S. Navy MACC contract vehicles broadens our access to significant federal opportuni es. Con nued investment in defense, port, and mari me infrastructure reinforces our confidence in Orion’s outlook and our ability to create long-term shareholder value,” concluded Boone. Third Quarter 2026 Results Quarter Ended Amounts in millions, except per share informa on September 30, September 30, 2026 2025 Revenue $ 256.2 $ 225.1 GAAP Net Income $ 5.5 $ 3.3 We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. Customise Reject All Accept All P o w e r e d b y Page 1 of 14
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GAAP Earnings Per Share (“EPS”) $ 0.14 $ 0.08 Adjusted EBITDA $ 17.9 $ 13.1 Adjusted EPS $ 0.12 $ 0.09 See defini ons and reconcilia on of non-GAAP measures elsewhere in this release. Contract revenues of $256.2 million in the third quarter of 2026 increased $31.1 million, or 14%, from $225.1 million in the third quarter of last year. The increase was driven by double-digit growth in both opera ng segments reflec ng highly ac ve projects, disciplined execu on, favorable opera ng condi ons, and the acquisi on of J.E. McAmis. Gross profit was $33.1 million in the third quarter of 2026, an increase of $3.3 million, or 11%, from $29.8 million in the third quarter of 2025. The increase was primarily driven by higher revenue volume and increased profitability in our Concrete segment a ributable to strong execu on, par ally offset by Marine close-out benefits in 2025 that did not recur in 2026. Selling, general and administra ve expenses were $24.7 million for the third quarter of 2026, down from $25.1 million in the third quarter of last year. GAAP net income for the quarter ended September 30, 2026, was $5.5 million, or $0.14 per diluted share, compared to $3.3 million, or $0.08 per diluted share, in the third quarter of last year. Adjusted EBITDA for the third quarter of 2026 increased 37% to $17.9 million, compared to $13.1 million in the third quarter of 2025. Backlog Amounts in millions September 30, December 31, 2026 2025 Marine $ 506 $ 480 Concrete 139 160 Total $ 645 $ 640 Third quarter 2026 backlog included approximately $179 million in new awards. Third quarter Marine awards included a significant wharf repair for the U.S. Navy, the next phase of construc on on the North Je y project, and two projects in Hawaii. Recent Concrete awards included a large concrete paving package, new phases of data center campuses, a college research building, and a water treatment plant. The Company won posi ons on two new MACC contract vehicles. The first is on the $9 billion U.S. Navy VENTI MACC, the largest procurement ac on in Naval Facili es Engineering Systems Command (“NAVFAC”) Northwest's history that encompasses a broad range of major construc on projects across the region. The second is on the $700 million NAVFAC Northwest Waterfront MACC that is focused on the construc on, repair and moderniza on of piers, wharves and other cri cal waterfront infrastructure. These programs are strategically important because they limit the pool of qualified contractors compe ng for future poten al task orders under large federal programs. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 2 of 14
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Balance Sheet Update As of September 30, 2026, working capital was $81 million, including unrestricted cash and cash equivalents of $5.7 million. Total debt outstanding was $109 million, with $83 million of outstanding borrowings under the UMB Credit Facility. FY 2026 Guidance The following forward-looking guidance reflects the Company’s current expecta ons and beliefs as of October 27, 2026, and is subject to change. The following statements apply only as of the date of this press release and are expressly qualified in their en rety by the cau onary statements included elsewhere in this press release. Es mated Range for Full-Year Ended December 31, 2026 Amounts in millions, except per share informa on and percentages Low High Annual Growth Es mate Es mate at Midpoint Revenue $ 900 $ 950 9% Adjusted EBITDA $ 50 $ 54 15% Adjusted EPS $ 0.23 $ 0.30 6% Capital Expenditures $ 25 $ 35 — Conference Call Details Orion Group Holdings will host a conference call to discuss the third quarter 2026 financial results at 9:00 a.m. Eastern Time/8:00 a.m. Central Time on Wednesday, October 28, 2026. To par cipate, please call (844) 481- 2994 and ask for the Orion Group Holdings conference call. A live audio webcast of the call will also be available on the Investor Rela ons sec on of Orion’s website at and will be archived for replay. About Orion Group Holdings Orion Group Holdings, Inc., a leading specialty construc on company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the con nental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its Marine segment and its Concrete segment. The Company’s Marine segment provides construc on and dredging services rela ng to marine transporta on facility construc on, marine pipeline construc on, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design and specialty services. Its Concrete segment provides turnkey concrete construc on 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. The Company’s website is located at: . Backlog Defini on h ps://www.oriongroupholdingsinc.com/investor/ h ps://www.oriongroupholdingsinc.com We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 3 of 14
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Backlog consists of projects under contract that have either (a) not been started, or (b) are in progress but are not yet complete. The Company cannot guarantee that the revenue implied by its backlog will be realized, or, if realized, will result in earnings or profitability. Backlog can fluctuate from period to period due to the ming and execu on of contracts. The typical dura on of the Company’s Concrete projects ranges from six to twelve months and Marine projects range from 18 to 24 months. The Company's backlog at any point in me includes both revenue it expects to realize during the next twelve-month period as well as revenue it expects to realize in future years. Non-GAAP Financial Measures This press release includes the financial measures “adjusted net income/loss,” “adjusted earnings/loss per share,” “EBITDA,” “Adjusted EBITDA,” and “Adjusted EBITDA margin.” These measurements are determined by methods other than in accordance with U.S. generally accepted accoun ng principles (“GAAP”) and are “non- GAAP financial measures” under rules of the U.S. Securi es and Exchange Commission, including Regula on G. The non-GAAP financial informa on may be determined or calculated differently by other companies that use similarly tled measures. By repor ng such non-GAAP financial informa on, the Company does not intend to give such informa on greater prominence than comparable GAAP financial informa on. Investors are urged to consider these non-GAAP measures in addi on to and not in subs tute for measures prepared in accordance with GAAP. Adjusted net income/loss and adjusted earnings/loss per share should not be viewed as an equivalent financial measure to net income/loss or earnings/loss per share. Adjusted net income/loss and adjusted earnings/loss per share exclude certain items that management believes are one- me items whose ming or amount cannot be reasonably es mated, or items not indica ve of core opera ng performance The Company believes these adjusted financial measures are a useful supplement to earnings/loss calculated in accordance with GAAP. Orion defines EBITDA as net income/loss before net interest expense, income taxes, deprecia on and amor za on. Adjusted EBITDA is calculated by adjus ng EBITDA for certain items that management believes are one- me items or items whose ming or amount cannot be reasonably es mated, such as non-cash share- based compensa on, enterprise resource planning implementa on, severance, process improvement ini a ves and acquisi on and integra on costs. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA for the period by contract revenues for the period. The GAAP financial measure that is most directly comparable to EBITDA and Adjusted EBITDA is net income, while the GAAP financial measure that is most directly comparable to Adjusted EBITDA margin is opera ng margin, which represents opera ng income divided by contract revenues. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are used internally to evaluate current opera ng expense, opera ng efficiency, and opera ng profitability on a variable cost basis, by excluding the deprecia on and amor za on expenses, primarily related to capital expenditures and acquisi ons, and net interest and tax expenses. Addi onally, EBITDA, Adjusted EBITDA and Adjusted EBITDA margin provide useful informa on regarding the Company's ability to meet future debt service and working capital requirements while providing an overall evalua on of the Company’s financial condi on. In addi on, EBITDA is used internally for incen ve compensa on purposes. The Company includes EBITDA, Adjusted EBITDA and Adjusted EBITDA margin to provide transparency to investors as they are commonly used by investors and others in assessing performance. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin have certain limita ons as analy cal tools and should not be used as a subs tute for opera ng margin, net income, cash flows, or other data prepared in accordance with GAAP, or as a measure of the Company’s profitability or liquidity. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 4 of 14
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Forward-Looking Statements The ma ers discussed in this press release may cons tute or include projec ons or other forward-looking statements within the meaning of the “safe harbor” provisions of Sec on 27A of the Securi es Act of 1933, as amended, and Sec on 21E of the Securi es Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be iden fied by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “intends,” “plans,” “es mates,” or “an cipates,” or the nega ve thereof or other comparable terminology, or by discussions of strategy, plans, objec ves, inten ons, es mates, forecasts, guidance, outlook, assump ons, or goals. In par cular, statements regarding our pipeline of opportuni es, achievement of strategic priori es, posi on for growth, financial guidance and future opera ons or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future opera ng results or the future genera on of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any es mates, guidance, forecasts or assump ons regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, es mated project start dates, ramp-up of contract ac vity and exercise of contract op ons, 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 impact profits, unforeseen produc vity delays that may alter the final profitability of the contract, cancella on 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 poten al contract op ons that may or may not be awarded in the future, and are at the sole discre on of award by the customer, integra on risk, availability of liquidity, labor availability, labor-cost infla on, subcontractor performance, equipment availability, and supply-chain disrup ons. The selec on of the Company as one of mul ple qualified contractors on MACC contracts may not result in the Company being awarded work or genera ng revenues or profit from any awarded work. Past performance is not necessarily an indicator of future results. Considering these and other uncertain es, the inclusion of forward-looking statements in this press release should not be regarded as a representa on by the Company that the Company's plans, es mates, forecasts, goals, inten ons, or objec ves will be achieved or realized. Readers are cau oned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obliga on to update informa on 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 2025 Annual Report on Form 10-K, filed on March 4, 2026 which is available on its website at or at the SEC's website at , and filings and press releases subsequent to such Annual Report on Form 10-K for addi onal and more detailed discussion of risk factors that could cause actual results to differ materially from our current expecta ons, es mates or forecasts. Contact: Margaret Boyce 346-278-3762 Source: Orion Group Holdings, Inc. www.oriongroupholdingsinc.com www.sec.gov mboyce@orn.net We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 5 of 14
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Orion Group Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Opera ons (In Thousands, Except Share and Per Share Informa on) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Contract revenues $ 256,152 $ 225,097 $ 694,331 $ 619,037 Costs of contract revenues 223,012 195,345 612,385 540,473 Gross profit 33,140 29,752 81,946 78,564 Selling, general and administra ve expenses 24,727 25,059 75,831 70,378 Gain on disposal of assets, net (108) (628) (296) (1,400) Opera ng income 8,521 5,321 6,411 9,586 Other (expense) income: Interest expense (2,950) (2,120) (6,986) (7,373) Other income 290 417 600 761 Other expense, net (2,660) (1,703) (6,386) (6,612) Income before income taxes 5,861 3,618 25 2,974 Income tax expense (benefit) 388 317 (5,990) 246 Net income $ 5,473 $ 3,301 $ 6,015 $ 2,728 Basic income per share $ 0.14 $ 0.08 $ 0.15 $ 0.07 Diluted income per share $ 0.14 $ 0.08 $ 0.15 $ 0.07 Shares used to compute income per share Basic 40,512,146 39,776,096 40,368,555 39,535,151 Diluted 40,518,633 39,787,227 40,385,830 39,544,405 Orion Group Holdings, Inc. and Subsidiaries Reconcilia on of Adjusted Net Income (In Thousands, Except Per Share Informa on) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net income $ 5,473 $ 3,301 $ 6,015 $ 2,728 Adjus ng items and the tax effects: Non-cash share-based compensa on 2,094 1,376 5,487 4,018 We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 6 of 14
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Enterprise resource planning (“ERP”) implementa on — 301 135 1,131 Severance 21 31 21 608 Process improvement ini a ves — — — 138 Acquisi on and integra on costs 187 — 1,821 — Amor za on of purchased intangibles 471 — 1,256 — Tax rate of 23% applied to adjus ng items(1) (638) (393) (2,006) (1,356) Reversal of the impact of valua on allowances (2,625) (1,157) (4,812) (867) Adjusted net income $ 4,983 $ 3,459 $ 7,917 $ 6,400 Adjusted EPS $ 0.12 $ 0.09 $ 0.20 $ 0.16 (1) Items are taxed discretely using the Company's blended tax rate. Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconcilia ons (In Thousands, Except Margin Data) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net income $ 5,473 $ 3,301 $ 6,015 $ 2,728 Income tax expense (benefit) 388 317 (5,990) 246 Interest expense, net 2,881 1,914 6,774 6,881 Deprecia on and amor za on 6,873 5,892 20,264 16,526 EBITDA(1) 15,615 11,424 27,063 26,381 Non-cash share-based compensa on 2,094 1,376 5,487 4,018 ERP implementa on — 301 135 1,131 Severance 21 31 21 608 Process improvement ini a ves — — — 138 Acquisi on and integra on costs 187 — 1,821 — Adjusted EBITDA(2) $ 17,917 $ 13,132 $ 34,527 $ 32,276 Adjusted EBITDA margin(2) 7.0% 5.8% 5.0% 5.2% (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, deprecia on and amor za on. (2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensa on, ERP implementa on, severance, process improvement ini a ves and acquisi on and integra on costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 7 of 14
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Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconcilia ons by Segment (In Thousands, Except Margin Data) (Unaudited) For the Three Months Ended September 30, 2026 Marine Concrete General Corporate Consolidated Contract revenues $ 161,193 $ 94,959 $ — $ 256,152 Opera ng income (loss) 12,626 9,387 (13,492) 8,521 Other income 94 — 127 221 Deprecia on and amor za on 5,509 623 741 6,873 EBITDA(1) 18,229 10,010 (12,624) 15,615 Non-cash share-based compensa on 516 260 1,318 2,094 Severance 10 — 11 21 Acquisi on and integra on costs — — 187 187 Adjusted EBITDA(2) $ 18,755 $ 10,270 $ (11,108) $ 17,917 Adjusted EBITDA margin(2) 11.6% 10.8% 7.0% For the Three Months Ended September 30, 2025 Marine Concrete General Corporate Consolidated Contract revenues $ 142,943 $ 82,154 $ — $ 225,097 Opera ng income (loss) 19,444 481 (14,604) 5,321 Other income 100 2 109 211 Deprecia on and amor za on 4,404 811 677 5,892 EBITDA(1) 23,948 1,294 (13,818) 11,424 Non-cash share-based compensa on 303 179 894 1,376 ERP implementa on — — 301 301 Severance — — 31 31 Adjusted EBITDA(2) $ 24,251 $ 1,473 $ (12,592) $ 13,132 Adjusted EBITDA margin(2) 17.0% 1.8% 5.8% (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, deprecia on and amor za on. (2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensa on, ERP implementa on, severance, process improvement ini a ves and acquisi on and integra on costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 8 of 14
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Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconcilia ons by Segment (In Thousands, Except Margin Data) (Unaudited) For the Nine Months Ended September 30, 2026 Marine Concrete General Corporate Consolidated Contract revenues $ 402,165 $ 292,166 $ — $ 694,331 Opera ng income (loss) 26,908 21,321 (41,818) 6,411 Other income 190 — 198 388 Deprecia on and amor za on 16,015 2,090 2,159 20,264 EBITDA(1) 43,113 23,411 (39,461) 27,063 Non-cash share-based compensa on 1,360 694 3,433 5,487 ERP implementa on — — 135 135 Severance 10 — 11 21 Acquisi on and integra on costs — — 1,821 1,821 Adjusted EBITDA(2) $ 44,483 $ 24,105 $ (34,061) $ 34,527 Adjusted EBITDA margin(2) 11.1% 8.3% 5.0% For the Nine Months Ended September 30, 2025 Marine Concrete General Corporate Consolidated Contract revenues $ 405,409 $ 213,628 $ — $ 619,037 Opera ng income (loss) 45,427 4,883 (40,724) 9,586 Other income 100 13 156 269 Deprecia on and amor za on 13,008 2,541 977 16,526 EBITDA(1) 58,535 7,437 (39,591) 26,381 Non-cash share-based compensa on 825 403 2,790 4,018 ERP implementa on — — 1,131 1,131 Severance — 16 592 608 Process improvement ini a ves — — 138 138 Adjusted EBITDA(2) $ 59,360 $ 7,856 $ (34,940) $ 32,276 Adjusted EBITDA margin(2) 14.6% 3.7% 5.2% (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, deprecia on and amor za on. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 9 of 14
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(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensa on, ERP implementa on, severance, process improvement ini a ves and acquisi on and integra on costs. Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues. Orion Group Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (In Thousands) (Unaudited) Nine Months Ended September 30, 2026 2025 Cash flows from opera ng ac vi es Net income $ 6,015 $ 2,728 Adjustments to reconcile net income to net cash (used in) provided by opera ng ac vi es: Deprecia on and amor za on 15,137 10,036 Amor za on of right-of-use (“ROU”) opera ng leases 3,798 6,727 Amor za on of ROU finance leases 5,127 6,490 Amor za on of deferred debt issuance costs 250 900 Non-cash interest expense on seller note 1,025 — Deferred income taxes (6,007) 29 Share-based compensa on 5,487 4,018 Gain on disposal of assets, net (296) (1,400) Allowance for credit losses 60 2,449 Change in opera ng assets and liabili es: Accounts receivable 32,638 (73,808) Income tax receivable (86) (255) Inventory (316) 637 Prepaid expenses and other 2,234 3,958 Contract assets (52,029) 43,889 Accounts payable (2,645) 11,550 Accrued liabili es (5,679) 4,765 Opera ng lease liabili es (4,169) (4,591) Income tax payable (43) (353) Contract liabili es (11,223) (3,509) Net cash (used in) provided by opera ng ac vi es (10,722) 14,260 Cash flows from inves ng ac vi es: Proceeds from sale of property and equipment 767 1,732 Purchase of property and equipment (28,109) (25,510) We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 10 of 14
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Business acquisi on, net cash acquired (42,871) — Net cash used in inves ng ac vi es (70,213) (23,778) Cash flows from financing ac vi es: Borrowings on credit facili es 140,000 138,138 Payments on credit facili es (111,000) (138,451) Proceeds from term loan 55,011 — Payments on term loan (84) — Proceeds from deemed financing obliga on 9,723 1,600 Principal payments on deemed financing obliga on (2,556) (7,463) Loan costs related to credit facili es (419) (323) Payments of finance lease liabili es (7,074) (7,847) Employee stock plans, net ac vity (280) 465 Net cash provided by (used in) financing ac vi es 83,321 (13,881) Net change in cash, cash equivalents and restricted cash 2,386 (23,399) Cash, cash equivalents and restricted cash at beginning of period 3,285 28,316 Cash, cash equivalents and restricted cash at end of period $ 5,671 $ 4,917 Orion Group Holdings, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In Thousands, Except Share and Per Share Informa on) September 30, December 31, 2026 2025 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 5,671 $ 1,588 Restricted cash — 1,697 Accounts receivable: Trade, net of allowance for credit losses of $3,283 and $3,461, respec vely 128,792 175,695 Retainage 65,859 49,194 Income taxes receivable 342 256 Other current 4,611 3,531 Inventory 2,239 2,432 Contract assets 84,205 31,083 Prepaid expenses and other 8,067 12,686 Total current assets 299,786 278,162 Property and equipment, net of accumulated deprecia on 137,558 88,210 Opera ng lease ROU assets, net of accumulated amor za on 22,396 20,397 We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 11 of 14
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Finance lease ROU assets, net of accumulated amor za on 21,709 18,360 Inventory, non-current 6,905 6,395 Other non-current 4,711 3,128 Goodwill 45,076 — Intangible assets, net of accumulated amor za on 6,484 — Total assets $ 544,625 $ 414,652 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabili es: Current debt, net of debt issuance costs $ 9,408 $ 1,789 Accounts payable: Trade 105,815 107,433 Retainage 2,760 1,699 Accrued liabili es 43,913 31,750 Income taxes payable 154 197 Contract liabili es 43,572 49,104 Current por on of opera ng lease liabili es 4,316 4,418 Current por on of finance lease liabili es 8,855 7,517 Total current liabili es 218,793 203,907 Long-term debt, net of debt issuance costs 99,360 6,085 Opera ng lease liabili es 26,565 24,695 Finance lease liabili es 7,899 5,878 Other long-term liabili es 18,847 15,055 Total liabili es 371,464 255,620 Stockholders’ equity: Accumulated other comprehensive income 509 — Preferred stock -- $0.01 par value, 10,000,000 authorized, none issued — — Common stock -- $0.01 par value, 50,000,000 authorized, 41,307,485 and 40,612,139 issued; 40,596,254 and 39,900,908 outstanding at September 30, 2026 and December 31, 2025, respec vely 413 406 Treasury stock, 711,231 shares, at cost, as of September 30, 2026 and December 31, 2025, respec vely (6,540) (6,540) Addi onal paid-in capital 233,967 226,369 Retained loss (55,188) (61,203) Total stockholders’ equity 173,161 159,032 Total liabili es and stockholders’ equity $ 544,625 $ 414,652 Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EBITDA Reconcilia on We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 12 of 14
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(In Thousands) (Unaudited) Year Ending December 31, 2026 Low Es mate High Es mate Net income $ 8,079 $ 12,079 Income tax benefit (5,400) (5,400) Interest expense, net 9,000 9,000 Deprecia on and amor za on 29,000 29,000 EBITDA(1) 40,679 44,679 Non-cash share-based compensa on 7,300 7,300 Acquisi on and integra on costs 1,800 1,800 ERP implementa on 200 200 Severance 21 21 Adjusted EBITDA(2) $ 50,000 $ 54,000 (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, deprecia on and amor za on. (2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensa on, acquisi on and integra on costs, ERP implementa on and severance. Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EPS Reconcilia on (In Thousands except per share informa on) (Unaudited) Year Ending December 31, 2026 Low Es mate High Es mate Net income $ 8,079 $ 12,079 Adjus ng items and the tax effects: Non-cash share-based compensa on 7,300 7,300 Amor za on of purchased intangibles 1,800 1,800 Acquisi on and integra on costs 1,800 1,800 ERP implementa on 200 200 Severance 21 21 Tax rate of 23% applied to adjus ng items(1) (2,600) (2,600) Reversal of the impact of valua on allowances (7,440) (8,340) Adjusted net income(2) $ 9,160 $ 12,260 Adjusted EPS(2) $ 0.23 $ 0.30 We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 13 of 14
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(1) Items are taxed discretely using the Company's blended tax rate. (2) Adjusted net income and Adjusted EPS are non-GAAP measures that represent net income adjusted for non-cash share-based compensa on, amor za on of purchased intangibles, acquisi on and integra on costs, ERP implementa on and severance. Source: Orion Group Holdings, Inc. We value your privacy We use cookies to enhance your browsing experience, serve personalised ads or content, and analyse our traffic. By clicking "Accept All", you consent to our use of cookies. P o w e r e d b y Page 14 of 14