Filing Flows › Orion Group Holdings (ORN) › Q1 2026
Orion Group Holdings (ORN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Orion Group Holdings (ORN) reported revenue of $216M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -7% from the quarter before. Operating margin was -0.4%, net earnings $4.7M (2.2% of revenue).
Orion Group Holdings, Q1 2026: revenue $216M (+15% year over year), operating margin -0.4%, net earnings $4.7M, operating cash flow $4.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | -7% | +15% |
| Operating profit | −$795K | -116% | -195% |
| Net earnings | $4.7M | — | — |
| Operating cash flow | $4.9M | -64% | — |
What changed
Revenue was $216.3M in Q1 2026, up 15% year over year and down 7% from the previous quarter. Marine Segment was the largest line at 51% of revenue. Concrete Segment added $44.7M year over year (up 73%), 162% of the total change. Marine Segment declined 13%.
Gross margin was 12.0%, down 0.2 points from Q1 2025. Operating costs exceeded revenue by $795K, an operating margin of -0.4%. Operating expenses grew 20% against revenue growth of 15%. Net earnings were $4.7M.
Operating cash flow was $4.9M, 105% of net earnings. Non-cash charges added back $4.4M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $5.5M. Capital expenditures of $8.6M exceeded it, leaving free cash flow of −$3.6M.
Questions
What was Orion Group Holdings' revenue in the first quarter 2026?
Orion Group Holdings (ORN) reported revenue of $216M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -7% from the quarter before.
Was Orion Group Holdings profitable in the first quarter 2026?
Operating loss was $795K (-0.4% of revenue) and net earnings $4.7M.