Orion Group Holdings, Inc. (ORN), one of the leading dredging companies in the US, yesterday reported net income of $0.9 million for the first quarter ended March 31, 2021.

According to Mark Stauffer , Orion’s Chief Executive Officer, the results for the first quarter were in-line with the company’s expectations. “First quarter results reflect the impact of the historic winter storm that affected our Texas operations, causing work on Texas projects in both segments, including for dredging projects, to stop for up to ten days. This reduced revenue for the quarter by approximately $8.2 million and lowered earnings per share by approximately $0.03.”