Orion Marine: Q4 Earnings Snapshot

March 2, 2022 GMT

HOUSTON (AP) _ Orion Marine Group Inc. (ORN) on Wednesday reported a loss of $8.8 million in its fourth quarter.

The Houston-based company said it had a loss of 29 cents per share. Losses, adjusted for asset impairment costs and pretax expenses, were 17 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The heavy civil marine contractor posted revenue of $162.3 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $137.7 million.

For the year, the company reported a loss of $14.6 million, or 47 cents per share. Revenue was reported as $601.4 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORN at https://www.zacks.com/ap/ORN