Orion Marine Group, Inc (NYSE:ORN) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET


Orion Marine Group, Inc (NYSE:ORN) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, everyone, and welcome to Orion Group Holdings' Second Quarter 2020 Earnings Conference Call and Webcast. Joining me today are Mark Stauffer, Orion Group Holdings' President and Chief Executive Officer; and Robert Tabb, our Vice President and Chief Financial Officer. Regarding the format of the call, we've allocated about ten minutes for prepared remarks, in which Mark and Robert will highlight our results and update our market outlook. We will then open the call for questions.

For the course of this conference call, we'll make projections and forward-looking statements regarding, among other things, our end markets, revenues, gross profits, gross margin, EBITDA, EBITDA margin, backlog, projects and negotiation and pending awards, as well as our estimates and assumptions regarding our future growth, administrative expenses and capital expenditures.

These statements are predictions that are subject to risks and uncertainties, including those described in our 10-K, that may cause actual results to differ materially from those statements. Moreover, past performance is not necessarily an indicator of future results. For providing this information, we undertake no obligation to update or revise any new projections or forward-looking statements, whether as a result of new developments or otherwise.

Also, please note that adjusted net income, adjusted earnings per share, EBITDA and EBITDA margin are non-GAAP financial measures under the rules of the Securities and Exchange Commission, including Regulation G. Please refer to the reconciliations and definitions inclusive to the most comparable GAAP measures and reconciliation tables accompany the earnings call within the press release issued this morning. The press release can be found on our website at www.oriongroupholdingsinc.com.

Also, for additional discussion of risk factors that could cause actual results to differ materially from our current expectations, please refer to our quarterly and annual filings with the SEC, which are also available in the Investor Relations section of our website.

And with that, I'd like to turn the call over to Mark Stauffer, President and Chief Executive Officer. Please go ahead, sir.

Mark R. Stauffer

Thank you, and good morning, everyone. Thanks for joining our call. Today, we will discuss our 2020 second quarter results and provide you with an update on the current state of our business as we continue to navigate through the COVID-19 pandemic. I'll begin with a few comments on the quarter, then turn the call over to Robert to review our financial results in more detail, and then I'll make some concluding remarks before we turn to Q&A.

First, I'd like to extend our deepest sympathies to those in our Company and others who have been affected by or have had family members or friends affected by the COVID-19 virus. I'd also like to sincerely thank our team members who continue to safely work at our project sites, construction yards, shops and field support offices around the country.

It's through the combined efforts of our entire team that we've continued to be able to perform during these unprecedented times. Our focus has been and will remain on ensuring the health and safety of