Filing Flows › Orion Group Holdings (ORN) › Q3 2026
Orion Group Holdings (ORN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
Orion Group Holdings (ORN) reported revenue of $256M for the third quarter 2026 (Q3 2026), +14% from a year earlier and +15% from the quarter before. Operating margin was 3.3%, net earnings $5.5M (2.1% of revenue).
Orion Group Holdings, Q3 2026: revenue $256M (+14% year over year), operating margin 3.3%, net earnings $5.5M, operating cash flow $2.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $256M | +15% | +14% |
| Gross profit | $33.1M | +45% | +11% |
| Operating profit | $8.5M | — | +60% |
| Net earnings | $5.5M | — | +66% |
| Operating cash flow | $2.0M | — | -92% |
What changed
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.
Questions
What was Orion Group Holdings' revenue in the third quarter 2026?
Orion Group Holdings (ORN) reported revenue of $256M for the third quarter 2026 (Q3 2026), +14% from a year earlier and +15% from the quarter before.
Was Orion Group Holdings profitable in the third quarter 2026?
Operating profit was $8.5M (3.3% of revenue) and net earnings $5.5M.