Orion Q3 EPS $0.14, Adjusted EBITDA Up 37%, Reiterates 2026 Guidance
ORN sits 21% above its 52-week low of $8.15 on elevated volume (1.9× avg).
Summary
Orion reported Q3 2026 net income of $5.5M ($0.14/share) on $256.2M revenue, up 14%, with Adjusted EBITDA up 37% to $17.9M, and reiterated its full-year 2026 guidance of $900-$950M revenue and $50-$54M Adjusted EBITDA.
Key Events · Earnings and Guidance · ORN
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Q3 Profit Rebounds to $5.5M
Revenue rose 14% to $256.2M from $225.1M, and GAAP net income reached $5.5M, or $0.14 per diluted share, versus $3.3M and $0.08 a year earlier.
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Adjusted EBITDA Jumps 37%
Adjusted EBITDA was $17.9M versus $13.1M, lifting the margin to 7.0% from 5.8%; Adjusted EPS was $0.12 against $0.09.
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2026 Guidance Reiterated
Full-year 2026 guidance held at $900-$950M revenue, $50-$54M Adjusted EBITDA and $0.23-$0.30 Adjusted EPS, after the ~20% EBITDA guidance cut disclosed with Q2.
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Two New Navy MACC Vehicles Won
Orion secured prime positions on the $9B VENTI MACC and the $700M NAVFAC Northwest Waterfront MACC; these pre-qualify the company for future task orders but carry no guaranteed revenue.
Analysis · ORN · Real Estate & Construction
Orion swung to a $5.5M profit ($0.14/share) from $3.3M a year ago on 14% revenue growth to $256.2M, and Adjusted EBITDA jumped 37% to $17.9M — a sharp reversal from the Q2 loss and ~20% EBITDA guidance cut that sent the stock down in July. Management reiterated full-year 2026 guidance of $900-$950M revenue and $50-$54M Adjusted EBITDA, which matters because the last guidance update was a cut; holding the line after a strong quarter is the first evidence the marine project delays that drove that cut are contained. The quarter also added two Navy MACC vehicles — the $9B VENTI MACC and $700M NAVFAC Northwest Waterfront MACC — that pre-qualify Orion to bid task orders rather than guaranteeing revenue. Backlog of $645M was roughly flat versus $640M at year-end 2025, so bookings are replacing work rather than building it, and with $5.7M of cash against $109M of total debt the balance sheet still leans on the $83M drawn under the UMB facility.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.5% of the 1494 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ORN was trading at $9.89 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $370.5M. The 52-week trading range was $8.15 to $17.40. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.