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Orion Marine: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Orion Marine Group Inc. (ORN) on Wednesday reported third-quarter profit of $11.8 million.

The Houston-based company said it had profit of 39 cents per share. Earnings, adjusted for non-recurring gains, came to 23 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The heavy civil marine contractor posted revenue of $189.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $184.8 million.

In the final minutes of trading on Wednesday, the company's shares hit $2.76. A year ago, they were trading at $4.28.

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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