HOUSTON — Orion Marine Group Inc. (ORN) on Wednesday reported third-quarter net income of $4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The heavy civil marine contractor posted revenue of $199.5 million in the period.
The company’s shares closed at $4.43. A year ago, they were trading at $5.22.
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