Orion Marine: 2Q Earnings Snapshot
HOUSTON (AP) _ Orion Marine Group Inc. (ORN) on Thursday reported second-quarter net income of $2.2 million, after reporting a loss in the same period a year earlier.
The Houston-based company said it had net income of 8 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The heavy civil marine contractor posted revenue of $159.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $151 million.
Orion Marine shares have risen 17 percent since the beginning of the year. The stock has increased 30 percent in the last 12 months.