Orion Group Holdings, Inc.

Thank you for holding and welcome everyone to the Orion Group Holdings third quarter 2022 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you'd like to withdraw the question, again, press star one. Thank you. I will now turn the call over to Frances Okoneski. Vice President, Investor Relations. Mr. Okoneski, please go ahead.

Thank you, Jack, and good morning, everyone, and welcome to Orion Group Holdings' third quarter 2022 earnings conference call and webcast. Joining me today are Travis Boone, Orion Group Holdings President and Chief Executive Officer, and Scott Thanish, Executive Vice President and Chief Financial Officer. Regarding the format of the call, we've allocated about 10 minutes for prepared remarks in which Travis and Scott will highlight our results and update our outlook. We will then open up the call for questions. During the course of this call, we will make projections and other 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 uncertainty, 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 our future results. By providing this information, we undertake no obligation to update or revise any 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 rules of the Securities and Exchange Commission, including Regulation G. Please refer to reconciliations and definitions inclusive of the most comparable gap measures and reconciliation tables accompanying this earnings conference call within the press release issued last evening. 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 section of our website. And with that, I would like to turn the call over to Travis Boone, President and Chief Executive Officer. Travis?

Good morning. Thank you all for joining. I'm happy to be talking to you for the first time today from this seat. Thanks to Austin for leading the business for the past couple of quarters and for helping me make this transition into the role. He did a great job of setting Scott and I up for success. Also, thanks to our people who have endured a lot of uncertainty over the past year or so and remain committed and kept working hard through the challenges. We wouldn't have a business without them. I'm very excited to be leading this team at Orion. We have great people, a robust market, and opportunities to build our business and grow organically in the coming years. I came here because this company has extraordinary potential. and is uniquely positioned to be so much more than we are today. I've been in the construction and engineering industry my entire life, from my start working for my dad as a teenager to leading a business with thousands of employees and billions in revenue. I'm well suited and prepared to address the challenges we've seen as a company and refocus our business to build a strong foundation and a healthy future. Scott and I have spent the last six weeks listening and learning the business with the teams on the ground. We've been at most of the offices and at multiple project sites. We've also been talking to our investors and analysts. We've been soaking in all that we can in order to build the strategy for the next year and beyond. Our confidence in this business comes from the strong base that exists in the markets that we have and will expand into. We will continue executing on operational improvements and know we can deliver strong and predictable results. My observations have been that we have an environment and are in markets that will lead to successful outcomes. We're winning high-quality work, and we're winning more of it. We have tremendous people who are loyal and doing very good work every day, and we have opportunities to expand our business. Some of our areas for improvement, we will be working on our processes, systems, and tools. We will continue focusing on rigor and discipline in both project bidding and delivery to bring in higher margins. We are looking at our costs and have already identified some ways to reduce our overhead burden. And lastly, we have opportunities to grow and improve with targeted investments into the business. We have a qualified team to transform this business. We aren't looking at it short term. This is going to take some time to get it right. We are building something that will be successful year in and year out for the long haul. We have been working aggressively toward a stronger business with higher returns and making the necessary investments to achieve success for our business. I'll turn this over to Scott Danish, our Chief Financial Officer, to discuss our results for the quarter.