Orion Group Holdings, Inc. (NYSE:ORN) Q3 2023 Earnings Call Transcript

Travis Boone: Yes, I think that we’ll see kind of continued levels around where we are, potentially a little growth in those legal expenses that I mentioned as we have some customer claims that we’re pursuing. And that’s probably going to be a higher need over the near-term as we have a couple of fairly significant customer claims that we’ll be investing legal expense in. But I would think the third quarter would be a good measuring stick for where it’s expected to be in the fourth quarter and beyond.

Alex Rygiel: And was there any positive benefit from when East West broke apart?

Scott Thanisch: Relatively minor. I mean, there was some earnest money that was forfeited, but not a material amount.

Alex Rygiel: Great. Thank you very much.

Scott Thanisch: Thanks.

Operator: [Operator Instructions]. There are no further questions at this time. I would now like to turn the call over to Travis Boone for closing remarks.

Travis Boone: Thanks, Mundy. We are proud of the progress we have made with transforming this business to be healthier, profitable, and set up for future success. We have been doing what we said we would do, and the results are starting to show. Our team has been working hard to make it all happen, and we appreciate all of their efforts to make us a stronger company. Finally, our thoughts and prayers are with those who are facing the adversities of war. While being a U.S. domestic company may provide some insulation, we can only keep praying for a peaceful resolution to these devastating conflicts. Thank you for participating today, and as always, we welcome the opportunity to maintain an open line of communication with current and potential investors.

Operator: I would like to thank our speakers for today’s presentation and thank you all for joining us. This now concludes today’s call. You may now disconnect.