Orion Group Holdings Announces New Contract Awards of $250 Million

$115 Million Mission-Critical Project Marks Largest Concrete Award in Company History

HOUSTON, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE:ORN) (“Orion” or the “Company”), a leading specialty construction company, today announced new contract awards and change orders totaling $250 million in the month of October 2026.

“Fourth-quarter awards are off to a strong start, led by the largest Concrete award in Orion’s history,” said Travis Boone, Chief Executive Officer of Orion Group Holdings, Inc. “This $115 million mission-critical project spans foundations, slabs and site paving for multiple buildings, clearly demonstrating the broader value we deliver to our customers. We continue to drive strong execution and predictable excellence, consistently delivering high-quality results for our clients.”

The Concrete segment accounted for the majority of the total value of new awards and change orders through October 29, 2026, anchored by the $115 million mission-critical project signed today. As previously outlined in our 3^rd quarter earnings conference call, additional Concrete projects awarded in October were diversified across four regions and a broad range of end markets including two large mission-critical projects, site-civil work for a premier technology company, a cold storage facility, a hospital, and multiple commercial buildings. In Marine, new awards in October included a project for the U.S. Army Corps of Engineers and a shore power project for a major port client in the Pacific Northwest. 

We expect to book these new projects into backlog in the 4th quarter of 2026.

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company's marine segment provides construction and dredging services related to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. https://www.oriongroupholdingsinc.com.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates,” or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, guidance, outlook, assumptions, or goals. In particular, statements regarding our pipeline of opportunities, achievement of strategic priorities, position for growth, financial guidance and future operations or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future operating results or the future generation of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any estimates, guidance, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, estimated project start dates, ramp-up of contract activity and exercise of contract options, which may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company's fixed price contracts that impact profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints, and any potential contract options that may or may not be awarded in the future, and are at the sole discretion of award by the customer, integration risk, availability of liquidity, labor availability, labor-cost inflation, subcontractor performance, equipment availability, and supply-chain disruptions. Past performance is not necessarily an indicator of future results. Considering these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law.

Please refer to the Company's 2025 Annual Report on Form 10-K, filed on March 4, 2026 which is available on its website at www.oriongroupholdingsinc.com or at the SEC's website at www.sec.gov, and filings and press releases subsequent to such Annual Report on Form 10-K for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Contact:

Margaret Boyce
Orion Group Holdings, Inc.
Mboyce@orn.net
346-278-3762

Source: Orion Group Holdings, Inc.