Premium heavy construction company Orion Marine Group, Inc ORN lately won a $13-million contract for a dock replacement project. The new deal is expected to fortify the company’s organic growth path as well as assist in increasing its aggregate revenues in the near future.
Awarded to Orion Marine Group’s heavy civil marine construction segment, the contract is an Alaskan project which is offered to the company by a private sector customer. The company would start working on the project from second quarter of 2016 onward and hopes to accomplish the task within 6 months.
Orion Marine Group is a renowned construction company based in Houston, TX. The company offers its services under two segments, namely, commercial concrete and heavy civil marine construction. Its commercial concrete segment offers turnkey concrete construction-related services, including layout, dirt work, rebar, pour & finish across the light structural, commercial and other related business areas.
On the other hand, the company’s heavy civil marine construction segment provides facilities for construction of marine transportation, marine environmental structures, dredging of waterways, environmental dredging and channels & ports.
In third-quarter 2015, Orion Marine Group’s heavy civil marine construction segment generated revenues worth $90.1 million. We believe the new contract would help escalate the segmental revenues in the quarters ahead.
Stocks to Consider
Orion Marine Group currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Sterling Construction Co. Inc. STRL, Jiangsu Expressway Co. Ltd. JEXYY and Zhejiang Expressway Co. Ltd. ZHEXY. All three stocks hold a Zacks Rank #2 (Buy).
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