Tuesday, October 12, 2021

Orion Group Holdings (ORN)
Unexpected CFO Change, But Smooth Transition Expected

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

CFO leaving for new opportunity. After the market closed, we learned that CFO Robert Tabb will leave near the end of October to join a private renewable energy company. There were no disagreements on financial reporting or other areas. Robert played a major role in turning ORN around and leaves on solid ground, as evidenced by the improved financial position and successful asset sales. We enjoyed working with Robert and are sorry to see him leave.


Smooth CFO transition underway.  We caught up yesterday with CEO Mark Stauffer who highlighted that the current financial team is deep and a VP of Financed has recently joined the team. Also, Robert will participate on the quarterly call prior to leaving for his new post. We expect no changes to the current strategic direction and look forward to working with financial team until a new CFO is hired …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.