Orion Group Holdings Reports First-Quarter 2022 Net Loss Of $4.9 Million

摘要

Orion Group Holdings reported a net loss of $4.9 million, or $0.16 per share, for the first quarter of 2022, compared to net income of $0.9 million, or $0.03 per share for the first quarter of 2021.The first quarter 2022 net loss included $2.1 million ($0.07 loss per diluted share) of non-recurring items and $0.5 million ($0.02 per diluted share) of tax impact from valuation allowances. Excluding the non-recurring items, Orion's adjusted net loss was -$3.2 million, or -$0.10 diluted loss per share."Since stepping in as Orion Group Holdings' interim CEO a few weeks ago, I have been working closely with leaders to ensure that we are well positioned to capitalize on industry tailwinds, improve the quality of our backlog, enhance margins and ultimately deliver for our shareholders and customers," said Austin Shanfel-ter, Orion's interim CEO (See WJ, April 18). "We ended the first quarter with a solid foundation for the future, including improving markets and a backlog up 66 percent year-over-year. Since the end of the quarter, we have successfully bid for an additional $112 million in projects."