HOUSTON (AP) — HOUSTON (AP) — Orion Marine Group Inc. (ORN) on Wednesday reported a loss of $6.1 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of 19 cents. Losses, adjusted for non-recurring costs, came to 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The heavy civil marine contractor posted revenue of $160.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $174.8 million.
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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