Orion Selected by Seven Customers for $21M in Electrical Contracting Engagements
Orion (NASDAQ: OESX) has begun work on $21 million in electrical contracting engagements with seven enterprise customers, including major logistics, a large public-sector agency, a top retailer and two global automakers.
Rhea-AI Summary
Orion (NASDAQ: OESX) has begun work on $21 million in electrical contracting engagements with seven enterprise customers, including major logistics, a large public-sector agency, a top retailer and two global automakers. Orion is a licensed electrical contractor in 45 states and cites electrical contracting as a growth area for Fiscal 2026 and into Fiscal 2027.
The contracts cover LED lighting, EV charging infrastructure and recurring maintenance services across industrial, retail and public-sector facilities; work is underway and positions Orion to expand its role in large commercial and industrial projects.
Positive
- $21 million in electrical contracting engagements announced
- Contracts with seven enterprise customers including logistics, public sector, retailer, automakers
- Licensed electrical contractor in 45 states
- Expanding services: LED lighting, EV charging, maintenance
- Company cites electrical contracting as a growth area for Fiscal 2026–2027
Negative
- None.
Details
News Market Reaction – OESX
On Mar 24, the day this news came out, OESX closed 5.13% above the previous close.
Data tracked by StockTitan Argus for the Mar 24 session.
Key Figures
- Electrical contracting engagements
- $21 million
- Value of new electrical contracting work for seven enterprise customers
- Enterprise customers
- 7 customers
- Number of enterprise customers in the new contracting engagements
- Licensed states
- 45 states
- States where Orion is a licensed electrical contractor
- Fiscal 2026 end
- March 31
- Fiscal 2026 year-end date referenced in the release
- Fiscal 2027 start
- April 1
- Fiscal 2027 start date referenced in the release
- Shelf registration size
- $100.0 million
- Maximum securities registered on Form S-3 shelf filed March 6, 2026
- Unsold prior securities
- $93.0 million
- Unsold securities reoffered under the new S-3 shelf
- Shares outstanding
- 4,052,863 shares
- Shares outstanding as of March 5, 2026, in the S-3 filing
Historical Context
-
Orion/Voltrek began EV charging deployments worth about $10M across 80+ stations.
-
Company began a $3.6M electrical infrastructure and LED lighting engagement for a lab client.
-
Introduced a battery energy storage system with first three of ten sites in California.
-
Announced virtual presentation at Emerging Growth Conference with CEO and CFO speaking.
-
Announced $3.1M electrical contracting engagement as follow-on to prior $11M program.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
ev charging stations technical
ev charging infrastructure technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
MANITOWOC, Wis., March 24, 2026 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle (EV) charging stations and maintenance services solutions, today announced that it has begun work on
A licensed electrical contractor in 45 states, Orion is taking an increasingly extensive role in electrical contracting for large enterprise facilities, whether it is the maintenance of an existing industrial plant or the new construction of a commercial building.
The seven customers announced today include one of America’s most prominent logistics enterprises with operations in all 50 states, one of the largest public-sector agencies in the U.S., one of the country’s largest retailers and two of the biggest automakers in the world.
Orion provides LED lighting, EV charging infrastructure and recurring maintenance services to numerous industrial facilities in sectors ranging from manufacturing to retail to the public sector. Electrical contracting has become a growth area for the company in the current Fiscal 2026, which ends on March 31. Orion expects this growth to continue in Fiscal 2027, which begins April 1.
“Orion has taken on a substantial role in electrical contracting for numerous global leaders,” said Orion Chief Executive Officer Sally Washlow. “More and more, Orion is being approached for electrical contracting in the modernization and new construction of commercial and industrial facilities. We are proud to be serving as an important electrical contracting partner in these projects.”
About Orion Energy Systems
Orion provides energy efficiency and clean tech solutions, including LED lighting and controls, electrical vehicle (EV) charging solutions, and maintenance services. Orion specializes in turnkey design-through-installation solutions for large national customers as well as projects through ESCO and distribution partners, with a commitment to helping customers achieve their business and environmental goals with healthy, safe, and sustainable solutions that reduce their carbon footprint and enhance business performance.
Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our sustainability and governance priorities, goals and progress here, or visit our website at www.orionlighting.com.
Non-GAAP Measures
Orion uses adjusted EBITDA, a non-GAAP measure, to supplement the financial measures prepared in accordance with United States (U.S.) generally accepted accounting principles (“GAAP”). Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, adjusted for stock-based compensation, acquisition related costs, deferred financing costs, restructuring and severance costs, asset impairment and, earnout expenses) is not prepared in accordance with U.S. GAAP. Orion has provided guidance for this non-GAAP measure to help investors better understand its core operating performance, enhance comparisons of core operating performance from period to period, and allow better comparisons of operating performance to its competitors. Among other things, management uses this non-GAAP measure to evaluate the performance of the business and believes this measurement enables it to make better period-to-period evaluations of the financial performance of core business operations. The non-GAAP measurement is intended only as a supplement to the financial measures prepared in accordance with GAAP, and investors should consider this non-GAAP measurement in addition to, and not in substitution for or as superior to, the measurement of financial performance prepared in accordance with generally accepted accounting principles.
Safe Harbor Statement
Certain matters discussed in this press release, are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995, including the Company’s expectations for future revenue and adjusted EBITDA. These forward-looking statements may generally be identified as such because the context of such statements will include words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including business relationships with government customers, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission.
Shareholders, potential investors and other readers are urged to consider risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or at http://investor.oriones.com/ in the Investor Relations section of our Website. Except as required by applicable law, we assume no obligation to update any forward-looking statements publicly or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Engage with Us
X: @OrionLighting and @OrionLightingIR
StockTwits: @OESX_IR
Investor Relations Contacts | ||
| Per Brodin, CFO | Robert Ferri | |
| Orion Energy Systems, Inc. | Robert Ferri Partners | |
| pbrodin@oesx.com | (415)575-1589 / robert.ferri@robertferri.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.