2Q22 Operating Results. Revenues came in well above our and consensus expectations, while adjusted EPS loss was in-line with expectations. Orion continues to make strides in improving the margin profile of future work, although current revenue continues to underperform. We were hopeful to see a resolution to the real estate asset sales, but management did not provide an update in the release.Details. Contract revenues were $194.6 million, an increase of $48.7 million or 33.4%, as compared to $145.9 million last year. The increase was primarily driven by higher volume in the concrete segment and the start up on large jobs awarded in the second half of 2021 in the marine segment. Adjusted EBITDA for 2Q22 was $5.7 million, or a 2.9% adjusted EBITDA margin, as compared to adjusted EBITDA for 2Q21 of $7.4 million, or a 5.1% adjusted EBITDA margin. Adjusted EPS loss was $0.03 compared to adjusted EPS of $0.05 in 2Q21. Read More >>