Orion Group Holdings, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on October 28, 2026, reporting third-quarter net income of $5.473 million on contract revenues of $256.152 million.

Key Highlights

  • Q3 2026 contract revenues: $256.152 million, up from $225.097 million in Q3 2025, according to the filing.
  • Q3 2026 net income: $5.473 million, compared to $3.301 million in the prior-year quarter, as reported.
  • Nine-month net income: $6.015 million for the nine months ended September 30, 2026, versus $2.728 million for the same period in 2025.
  • Total assets: $544.625 million as of September 30, 2026, up from $414.652 million at December 31, 2025, with goodwill of $45.076 million appearing where none existed at year-end, reflecting an acquisition.
  • Long-term debt: $99.360 million (net of debt issuance costs) at September 30, 2026, compared to $6.085 million at December 31, 2025.
  • Diluted earnings per share: $0.14 for Q3 2026 and $0.15 for the nine months ended September 30, 2026, per the filing.
  • Shares outstanding: 40,659,250 as of October 27, 2026, as disclosed on the cover page.

Orion Group Holdings Reports Q3 2026 Financial Results and Acquisition Impact

According to the filing, Orion Group Holdings (NYSE:ORN) reported contract revenues of $256.152 million for the three months ended September 30, 2026, compared to $225.097 million for the same period in 2025. Gross profit for Q3 2026 was $33.140 million, up from $29.752 million in Q3 2025. Selling, general and administrative expenses declined slightly to $24.727 million from $25.059 million in the prior-year quarter. The company reported Q3 2026 operating income of $8.521 million versus $5.321 million in Q3 2025.

For the nine months ended September 30, 2026, the filing disclosed contract revenues of $694.331 million compared to $619.037 million in the same period of 2025. Nine-month operating income was $6.411 million, compared to $9.586 million in the prior-year period. Interest expense for the nine-month period was $6.986 million, compared to $7.373 million in the same period of 2025. The nine-month income tax line showed a benefit of $5.990 million, compared to expense of $246 thousand in the comparable prior-year period, contributing to the $6.015 million net income figure for the nine months.

The balance sheet reflects a significant change from December 31, 2025. Total assets grew to $544.625 million from $414.652 million, with goodwill of $45.076 million and intangible assets of $6.484 million appearing for the first time, alongside a large increase in long-term debt to $99.360 million from $6.085 million. The filing also shows the issuance of 182,392 shares related to an acquisition during the period, with an associated value of $2.398 million recorded in stockholders' equity. Contract assets rose to $84.205 million from $31.083 million at year-end. Total stockholders' equity was $173.161 million at September 30, 2026, versus $159.032 million at December 31, 2025, with retained loss narrowing to $55.188 million from $61.203 million.

What Was Disclosed

Orion Group Holdings filed its quarterly report covering the period ended September 30, 2026, disclosing revenues, earnings, balance sheet changes including a new acquisition reflected in goodwill, increased long-term debt, and 40,659,250 shares outstanding as of October 27, 2026.