Orion Marine Group Inc Earnings: Everything You Must Know Now
Orion Marine Group, Inc (NYSE:ORN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Orion Marine Group, Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.05 in the quarter versus EPS of $-0.19 in the year-earlier quarter.
Revenue: Rose 78.27% to $98.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Orion Marine Group, Inc reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.06. It beat the average revenue estimate of $75.04 million.
Quoting Management: “2012 was a validation of our ability to adapt our operating strategy to the prevailing market conditions,” said Mike Pearson, Orion Marine Group’s President and Chief Executive Officer. “While several challenging factors continued during 2012, our bidding strategy was successful in growing backlog and increasing equipment utilization. This strategy produced continued gross margin and top line improvement throughout the year and delivered positive quarterly net income for the first time since the beginning of 2011. We are pleased to see the results of all the hard work and dedication from the entire Orion Marine Group team come to fruition in the fourth quarter.”
Key Stats (on next page)…