Posted May 8, 2018
Orion Marine Group Inc. (ORN) on Thursday reported first-quarter net income of $4.1 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had net income of 14 cents per share. Losses, adjusted for non-recurring gains, came to 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The heavy civil marine contractor posted revenue of $136.8 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $140.7 million.
Orion Marine shares have decreased 21 percent since the beginning of the year. The stock has decreased 18 percent in the last 12 months.