Yahoo Finance Why Orion (ORN) Shares Are Falling Today
What Happened:
Shares of marine infrastructure company Orion (NYSE:ORN) fell 27.7% in the morning session after the company reported second-quarter earnings results: Unfortunately, its revenue, adjusted EBITDA, and EPS all fell short of Wall Street's estimates as the company suffered logistics setbacks due to the slower ramp of two large projects. This setback is expected to lead to a shift in revenue recognition. As a result, management lowered full-year revenue to $850 million to $900 million and adjusted EBITDA to $40 million to $45 million. Overall, this was a challenging quarter.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Orion? Access our full analysis report here, it's free.
What is the market telling us:
Orion's shares are a little volatile and over the last year have had 53 moves greater than 5%. Moves this big are very rare for Orion and that is indicating to us that this news had a significant impact on the market's perception of the business.
Orion is up 63.8% since the beginning of the year, but at $7.91 per share it is still trading 33.4% below its 52-week high of $11.87 from July 2024. Investors who bought $1,000 worth of Orion's shares 5 years ago would now be looking at an investment worth $1,948.
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