Filing Flows › Orion Group Holdings (ORN) › Q3 2025
Orion Group Holdings (ORN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Orion Group Holdings (ORN) reported revenue of $225M for the third quarter 2025 (Q3 2025), -0.7% from a year earlier and +10% from the quarter before. Operating margin was 2.4%, net earnings $3.3M (1.5% of revenue).
Orion Group Holdings, Q3 2025: revenue $225M (-0.7% year over year), operating margin 2.4%, net earnings $3.3M, operating cash flow $23.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $225M | +10% | -0.7% |
| Gross profit | $29.8M | +15% | +10% |
| Operating profit | $5.3M | +55% | -32% |
| Net earnings | $3.3M | +293% | -23% |
| Operating cash flow | $23.3M | — | -38% |
| Free cash flow | $13.9M | — | -58% |
What changed
Revenue was $225.1M in Q3 2025, down 1% year over year and up 10% from the previous quarter. Marine Segment was the largest line at 64% of revenue. Concrete Segment lost $4.5M year over year (down 5%), 286% of the total change.
Gross margin was 13.2%, up 1.3 points from a year earlier. Operating profit was $5.3M, a 2.4% margin (down 1.1 points year over year). Operating expenses grew 27% against a revenue fall of 1%. Net earnings were $3.3M, down 23% year over year. The effective tax rate was 8.8%.
Operating cash flow was $23.3M (down 38% year over year), 705% of net earnings. Non-cash charges added back $3.8M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $14.8M. Capital expenditures of $9.3M left free cash flow of $13.9M.
Questions
What was Orion Group Holdings' revenue in the third quarter 2025?
Orion Group Holdings (ORN) reported revenue of $225M for the third quarter 2025 (Q3 2025), -0.7% from a year earlier and +10% from the quarter before.
Was Orion Group Holdings profitable in the third quarter 2025?
Operating profit was $5.3M (2.4% of revenue) and net earnings $3.3M.