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Orion Group Holdings, Inc. (ORN) has decreased to 6.88% – What’s happening?

Orion Group Holdings, Inc. (ORN) experienced a decrease of 6.88% in the aftermarket. However, the last trading session closed at $3.78 with an increase of 1.89%.

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Contract Awards of $33 Million

On 20th December 2021, ORN announced that two contracts worth $33 million were awarded to the company’s Marine section. The Naval Facilities Engineering Command Southeast has awarded the company a $28.3 million design-bid-build contract for the repair and modernization of an existing waterside facility in the Bahamas. Moreover, the project is expected to start in the second quarter of 2022 and finish in early 2024.

A $4.4 million contract to renovate an existing barge dock for a private sector energy customer near Texas’ gulf coast has also been granted to the company. Last but not the least, the NAVFAC grant is the latest in a long line of assistance for the US Navy’s infrastructure requirements. The company is also thrilled to maintain its position as the market leader in servicing the demands of the energy industry clients throughout the Texas Gulf Coast.

Contract Awards of $28 Million – What’s New?

On 30th November 2021, ORN reported that four contracts worth $28 million have been awarded to the company’s Concrete sector. In the Dallas area, the Company was recently awarded a $3.8 million data center extension contract, a $4.3 million contract for the building of two cast-in-place retirement residential structures, and a $5.6 million contract for a cold storage facility. All three projects will begin in the first quarter of 2022 and conclude in the fourth.

In its Houston area, the company was also given a contract for $5.1 million to develop tilt-wall warehouses and a $9.2 million deal to construct a mixed-use office-retail-residential structure. Both projects are scheduled to start in the first quarter of 2022 and finish in the first quarter of 2023. These wins underscore the position as a leader in concrete construction projects in the major Texas markets.

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