Orion Group Holdings, Inc. operates as a specialty construction company in the building, industrial, and infrastructure sectors in the continental United States, Alaska, Canada, and the Caribbean Basin. It operates in two segments, Marine and Concrete. The company provides various marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures. Its marine transportation facility projects comprise public port facilities, cruise ship port facilities, private terminals, special-use navy terminals, recreational use marinas and docks, and other marine-based facilities. The company also offers on-going maintenance and repair, inspection, emergency repair, and demolition and salvage services to marine transportation facilities. Its marine pipeline service projects include the installation and removal of underwater buried pipeline transmission lines; the installation of pipeline intakes and outfalls for industrial facilities; the construction of pipeline outfalls for wastewater and industrial discharges; river crossing and directional drilling; the creation of hot taps and tie-ins; and inspection, maintenance, and repair services. The company's bridge and causeway projects include the construction, repair, and maintenance of overwater bridges and causeways, as well as the development of fendering systems in marine environments; and marine environmental structures used for erosion control, wetlands creation, and environmental remediation. The company also provides specialty services, such as design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation, and repair services. In addition, it offers light commercial, structural, and other concrete construction services. Orion Group Holdings, Inc. was founded in 1994 and is headquartered in Houston, Texas.
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Corning (GLW) for industrial carbon materials.
A specialized 3M (MMM) focused on carbon black.
An essential B2B industrial supplier, similar to a smaller Linde (LIN) or Air Products (APD) but for engineered carbon materials rather than industrial gases.
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- Dredging Services: Provides excavation and removal of sediment from waterways to maintain navigation channels, ports, and beaches, and for land reclamation.
- Marine Civil Construction: Offers comprehensive construction services for marine infrastructure, including docks, piers, bulkheads, wharves, bridges, and other coastal structures.
- Concrete Construction: Specializes in large-scale concrete construction projects for commercial, industrial, and infrastructure sectors, including foundations, structures, and flatwork.
- Industrial Services: Delivers maintenance, turnaround, and capital project support for industrial clients in sectors such as petrochemical, power, and manufacturing.
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Major Customers of Orion Group Holdings Inc. (ORN)
Orion Group Holdings Inc. (ORN) is a specialty contractor that sells its services primarily to other companies, government agencies, and industrial clients, rather than directly to individuals. The company operates in two main segments: Marine, and Concrete & Dig Infrastructure, providing heavy civil, marine, and concrete construction services.
Based on the company's latest filings, Orion's most significant customer is:
- U.S. Army Corps of Engineers: This federal agency is a major customer for Orion's Marine segment, accounting for approximately 43% of Orion's consolidated revenues in 2023. As a government agency, it does not have a public stock symbol.
While Orion serves a diverse range of other customers including state and local governments (such as Departments of Transportation and municipalities), public utilities, port authorities, general contractors, real estate developers, and various private industrial clients, no other single customer accounted for 10% or more of Orion's consolidated revenues in 2023, 2022, or 2021.
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Travis J. Boone
President and Chief Executive Officer
Travis Boone was appointed President and Chief Executive Officer of Orion Group Holdings, Inc. in September 2022. He grew up in the construction industry, with his father being a small contractor. He earned an engineering degree and began his career in 1999 as a bridge engineer at URS, which later became AECOM through an acquisition. Over 23 years at AECOM, he advanced to leading a $2.3 billion business across a significant portion of the U.S. and Pacific regions, managing approximately 8,000 employees and 88 offices. He was not actively seeking a new role when he was recruited to join Orion.
Alison Vasquez
Executive Vice President, Chief Financial Officer and Treasurer
Alison Vasquez joined Orion as Executive Vice President, Chief Financial Officer, and Treasurer, effective June 23, 2025. She brings over 25 years of experience in finance and accounting within public companies. Prior to Orion, she served as Senior Vice President and Chief Accounting Officer at KBR, Inc., where she oversaw a team of more than 350 financial professionals. Her tenure at KBR also included roles as Vice President and Chief Auditor, Vice President of Investor Relations, Vice President of FP&A, and Vice President of Finance. Before KBR, she was chief auditor at Energy Transfer LP and Noble Corporation plc. She began her career in 1998 with assurance and advisory services at Arthur Anderson and then PricewaterhouseCoopers.
Edward Chipman Earle
Executive Vice President, Chief Administrative Officer, Chief Compliance Officer, General Counsel and Secretary
Edward Chipman Earle serves as the Executive Vice President, Chief Administrative Officer, Chief Compliance Officer, General Counsel, and Secretary for Orion Group Holdings, Inc.
Austin J. Shanfelter
Chairman of the Board
Austin J. Shanfelter is the Chairman of the Board for Orion Group Holdings, Inc.
Robert Ledford
Independent Director
Robert (Bob) Ledford was appointed to Orion Group Holdings' Board of Directors, effective November 19, 2025. Ledford, 61, has over 35 years of leadership experience in construction and engineering across international markets. He is currently the President and CEO of Prime Electric. His previous roles include COO of Europe, Middle East, and Asia, and COO of design and consulting in the Americas at AECOM, as well as executive positions at Parsons and CFO roles at Sasco Electric and Hermanson Corporation.
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The accelerating adoption and scaling of recycled carbon black (rCB) technologies, driven by major tire and rubber goods manufacturers' increasing demand for sustainable and circular economy solutions, presents a clear emerging threat to Orion Engineered Carbons' traditional virgin carbon black market. As third-party companies specialize in producing high-quality rCB from end-of-life tires, and Orion's key customers commit to incorporating higher percentages of sustainable materials, this trend could lead to market share erosion, pricing pressures, and a shift in demand away from conventional carbon black.
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Orion Group Holdings (ORN) is anticipated to drive future revenue growth over the next 2-3 years through several key factors, including a robust project pipeline, significant government infrastructure spending, expansion within the data center market, and continued strong execution in its marine segment.
- Increased Project Volume and Robust Backlog: Orion's management has consistently highlighted a strong project pipeline, with over $1 billion in bids awaiting award, indicating substantial future work. The company's updated full-year 2025 revenue guidance was raised, reflecting an expectation of increased volume and strong execution. This growth in project volume is a primary driver of revenue, with significant opportunities projected for both 2025 and 2026.
- Leveraging Government Infrastructure Investment: Orion is strategically positioned to benefit from the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), which is expected to be a multi-year catalyst for public sector projects in transportation, ports, waterways, and bridges. Furthermore, the company anticipates growth from U.S. Navy spending on initiatives like the Pacific Deterrence Initiative and broader federal directives aimed at restoring maritime dominance through investments in shipyards, vessel upgrades, and drydocks. These federal investments represent a significant expansion of opportunities in key markets for Orion.
- Growth in the Data Center Market: The data center sector is emerging as a specific growth area for Orion's Concrete segment. Data centers currently represent 27% of the Concrete segment's revenue and pipeline. The company has noted steady quoting activity and an increasing average deal size within this market, securing new data center projects that will provide steady revenue streams.
- Strong Execution and Favorable Utilization in the Marine Segment: The Marine segment has been a consistent driver of performance, characterized by strong execution and favorable utilization rates. This operational efficiency, coupled with securing new long-term contracts like a three-year maintenance dredging agreement, allows Orion to maintain a competitive edge and secure recurring revenue streams. This focus on execution supports both the acquisition of new projects and the successful completion of existing ones, contributing to sustained revenue growth.
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Capital Allocation Decisions for Orion Group Holdings, Inc. (ORN)
Share Repurchases
- No significant share repurchases by Orion Group Holdings, Inc. were identified within the last 3-5 years in the available information.
Share Issuance
- The company reported 39,900,978 shares of common stock outstanding as of October 24, 2025.
- There were 38,989,545 shares of common stock outstanding as of March 5, 2025.
- As of February 21, 2020, there were 29,607,285 shares of common stock outstanding.
Inbound Investments
- Orion Group Holdings expanded its bonding capacity by $400 million, positioning the company for larger projects and accelerated growth.
Outbound Investments
- Management is focused on growth through pursuing strategic Mergers & Acquisitions (M&A) opportunities.
- Acquisitions are mentioned as a component considered in adjusted EBITDA.
Capital Expenditures
- Orion Group Holdings reaffirmed its capital expenditures guidance in the range of $25 million to $35 million for the full year 2025.
- The company's strategic priorities include investments in business development.
