Orion Group Holdings announced that it has secured new contract awards and change orders totaling more than $125 million through February 28, 2026, adding a significant amount of work to its backlog and positioning the company for near‑term revenue and adjusted EBITDA growth.
The new work is split between the company’s Marine and Concrete segments. The Concrete segment, which has been the primary driver of the new business, accounts for the majority of the $125 million, with projects in data‑center construction, convention‑center development, and advanced‑manufacturing facilities. The Marine segment contributed a bridge project, a U.S. Army Corps of Engineers dredging contract, and a deep‑water barge dock project for a private client.
Prior to this announcement, Orion’s 2025 full‑year results showed revenue of $852 million and adjusted EBITDA of $45 million. The company’s 2026 guidance, released earlier in March, projects revenue of $900 million to $950 million and adjusted EBITDA of $54 million to $58 million. The new contracts are expected to help Orion meet or exceed these guidance targets by adding a steady stream of high‑margin work.
The $125 million in new work expands Orion’s backlog, which stood at roughly $23 billion as of early March. While the fact‑check report does not provide the exact backlog increase, the addition of these contracts represents a meaningful boost to the pipeline and provides greater visibility into future cash flows.
Management highlighted the strategic importance of the wins. CEO Travis Boone said the company “executes with discipline and consistency, delivering high‑quality outcomes for our clients. We continue to build quality backlog, driven by sustained demand in data centers, specialty manufacturing, marine infrastructure and other end markets.” The comments underscore Orion’s focus on high‑margin, high‑skill projects and its confidence in maintaining a robust pipeline.
The contract wins reinforce Orion’s broader growth strategy, which includes the February 2026 acquisition of J.E. McAmis to strengthen its marine capabilities, and a recent $120 million senior credit facility that improves financial flexibility. Together, these moves position Orion to capture opportunities in infrastructure, defense, and data‑center construction, sectors that are benefiting from increased government spending and AI‑driven demand.
Overall, the new contracts represent a positive development for Orion, adding depth to its backlog, supporting its 2026 revenue and EBITDA guidance, and reinforcing its strategic focus on high‑margin, high‑skill projects across marine and concrete markets.
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