Yahoo Finance Orion (ORN) Reports Q2: Everything You Need To Know Ahead Of Earnings
Marine infrastructure company Orion Group (NYSE:ORN) will be reporting results tomorrow after market hours. Here's what investors should know.
Orion missed analysts' revenue expectations by 8.1% last quarter, reporting revenues of $160.7 million, flat year on year. It was a weak quarter for the company, with a decent beat of analysts' earnings estimates.
Is Orion a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Orion's revenue to grow 9% year on year to $199 million, a reversal from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Orion has missed Wall Street's revenue estimates three times over the last two years.
With Orion being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for construction and engineering stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.5% on average over the last month. Orion is up 29.4% during the same time and is heading into earnings with an average analyst price target of $12.1 (compared to the current share price of $11.35).
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