Filing Flows › Orion Group Holdings (ORN) › Q2 2025
Orion Group Holdings (ORN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Orion Group Holdings (ORN) reported revenue of $205M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +9% from the quarter before. Operating margin was 1.7%, net earnings $841K (0.4% of revenue).
Orion Group Holdings, Q2 2025: revenue $205M (+7% year over year), operating margin 1.7%, net earnings $841K, operating cash flow −$5.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $205M | +9% | +7% |
| Gross profit | $25.8M | +12% | +41% |
| Operating profit | $3.4M | +312% | — |
| Net earnings | $841K | — | — |
| Operating cash flow | −$5.6M | — | — |
What changed
Revenue was $205.3M in Q2 2025, up 7% year over year and up 9% from the previous quarter. Marine Segment was the largest line at 66% of revenue. Concrete Segment added $8.8M year over year (up 14%), 67% of the total change.
Gross margin was 12.6%, up 3.1 points from a year earlier. Operating profit was $3.4M, a 1.7% margin (up 3.1 points year over year). Operating expenses grew 6% against revenue growth of 7%. Net earnings were $841K. The effective tax rate was -33.7%.
Operating cash flow was −$5.6M. Non-cash charges added back $3.1M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $11.0M. Capital expenditures of $7.1M exceeded it, leaving free cash flow of −$12.7M.
Questions
What was Orion Group Holdings' revenue in the second quarter 2025?
Orion Group Holdings (ORN) reported revenue of $205M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +9% from the quarter before.
Was Orion Group Holdings profitable in the second quarter 2025?
Operating profit was $3.4M (1.7% of revenue) and net earnings $841K.