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Orion Group Holdings (ORN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Orion Group Holdings (ORN) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $256M · 2¢ of every $1 of revenue kept as net profit · operating margin 3.3%
Orion Group Holdings made $256M in Q3 2026 (+14% Y/Y): Marine Segment $161M, Concrete Segment $95.0M. Operating margin 3.3%, net earnings $5.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $256.2M in Q3 2026, up 14% year over year and up 15% from the previous quarter. Marine Segment was the largest line at 63% of revenue. Marine Segment added $18.2M year over year (up 13%), 59% of the total change.
Gross margin was 12.9%, down 0.3 points from Q3 2025. Operating profit was $8.5M, a 3.3% margin (up 1.0 points year over year). Of the extra revenue versus Q3 2025, 10% reached operating profit, above the 2% margin then. Operating expenses grew 1% against revenue growth of 14%. Net earnings were $5.5M, up 66% year over year. The effective tax rate was 6.6%.
Operating cash flow was $2.0M (down 92% year over year), 36% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $11.1M. Capital expenditures of $8.0M exceeded it, leaving free cash flow of −$6.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $256M | +14% | 3.3% | $5.5M | $2.0M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $222M | +8% | -0.6% | −$4.1M | −$17.6M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $216M | +15% | -0.4% | $4.7M | $4.9M |
| Q4 2025 | 10-K | Mar 4, 2026 | $233M | +8% | 2.2% | −$240K | $13.8M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $225M | -0.7% | 2.4% | $3.3M | $23.3M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $205M | +7% | 1.7% | $841K | −$5.6M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $189M | +17% | 0.4% | −$1.4M | −$3.4M |
Charts
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Customers and suppliers named in filings
Sells to
- U.S. government — 14% of its revenue · Stated in 10-K (sentence) · source
About Orion Group Holdings
Orion Group Holdings, Inc. is a leading specialty construction company focused on large-scale, mission-critical, capital projects within the marine and infrastructure sectors. Unless the context otherwise requires, all references herein to “Orion,” the “Company,” the “Registrant,” “we,” “us,” or “our” refer to Orion Group Holdings, Inc. and its consolidated subsidiaries and affiliates. Orion is a Delaware corporation, and its common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol ORN. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. As of December 31, 2025, we had a workforce of over 2,000 employees who are committed to delivering projects with predictable excellence and guided by our core values: Safety, Quality, Delivery, Teamwork, and Integrity.
In its own words, from its 10-K, filed Mar 4, 2026.
Orion Group Holdings against its Heavy Construction Other Than Bldg Const - Contractors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +28%. Operating margin: 3.3% against the peers' median 7.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ORN Orion Group Holdings | Q3 2026 | $256M | +14% | 3.3% |
| J Jacobs Solutions | Q3 FY26 | $4.1B | +34% | 7.0% |
| FLR Fluor | Q3 2026 | $3.7B | +10% | 6.0% |
| KBR KBR | Q3 2026 | $2.0B | +5% | 9.2% |
| GVA Granite Construction | Q3 2026 | $1.8B | +23% | 12.7% |
| STRL Sterling Infrastructure | Q3 2026 | $1.6B | +127% | 19.6% |
| ROAD Construction Partners | Q3 FY26 | $999M | +28% | 10.9% |
| MWH Solv Energy | Q2 2026 | $951M | +78% | 7.3% |
| BYOP KiNRG | Q2 2026 | $369M | — | 4.6% |
Source: Orion Group Holdings 10-Q on SEC EDGAR · CIK 1402829 · Heavy Construction Other Than Bldg Const - Contractors
Guidance and outlook
13F: who owns ORN and who is buying
More on ORN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Orion Group Holdings guidance history: guided vs reported
- Orion Group Holdings gross margin by quarter
- Orion Group Holdings operating margin by quarter
- Orion Group Holdings net income by quarter
- Orion Group Holdings capital expenditures by quarter
- Orion Group Holdings Marine Segment revenue by quarter
- Orion Group Holdings Concrete Segment revenue by quarter