Why did ORN's Q4 earnings fall short of forecasts?

Orion Group Holdings Inc. (ORN) experienced a shortfall in its Q4 earnings relative to forecasts due to several key factors: 1. **Revenue Shortfall**: Orion's Q4 revenue came in at $216.9 million, which was below the analyst-projection of $271.7 million. This discrepancy of approximately $54.8 million constituted a significant miss, accounting for about 20.2% of the total revenue. 2. **Earnings Per Share (EPS) Miss**: The reported diluted EPS for Q4 was $0.17, which narrowly missed the consensus estimate of $0.18. This discrepancy, though small, reflected a shortfall of approximately 5.6%. 3. **Sector-specific Challenges**: Orion operates in the infrastructure, industrial, and building sectors, which can be influenced by various sector-specific factors. For instance, the company noted uncertainties around the timing of large Navy projects, which could have impacted revenue projections. In summary, Orion's Q4 earnings fell short due to lower-than-expected revenues and a slight miss in EPS, combined with sector-specific challenges.