Welcome to our dedicated page for Orion Energy Sys news (Ticker: OESX), a resource for investors and traders seeking the latest updates and insights on Orion Energy Sys stock.
Orion Energy Systems, Inc. (NASDAQ: OESX), also referred to as Orion Lighting, regularly issues news updates that reflect its role in energy-efficient LED lighting, EV charging solutions, and maintenance services. Press releases highlight engagements with large enterprise and public-sector customers, as well as financial and corporate developments relevant to OESX stock watchers.
Company announcements describe LED lighting and electrical infrastructure projects for major food-service distributors, retailers, automotive industry customers, and government agencies. These updates often detail multi-facility deployments, upgrades of LED lighting and electrical infrastructure, and EV charging station installations at sites across the United States. Orion also reports on multi-year preventative maintenance contracts for LED lighting systems at thousands of retail locations.
Investors following OESX news will see regular coverage of segment performance and earnings, including LED lighting, EV charging, and maintenance revenue, as well as gross margin trends, net results, and adjusted EBITDA. The company uses quarterly earnings releases to discuss its cost structure, project pipeline, and organizational initiatives, such as the creation of Solutions and Partners business units.
In addition, Orion frequently announces participation in investor conferences and webcasts, providing opportunities for shareholders and prospective investors to hear management discuss strategy and financial performance. Filings and news items also cover capital structure actions, including the approval and implementation of a reverse stock split and the resolution of Nasdaq minimum bid price compliance.
This OESX news page aggregates these updates so readers can review Orion’s project wins, customer relationships, financial disclosures, and corporate actions in one place. For anyone tracking developments in energy-efficient lighting, EV charging infrastructure, and related maintenance services, Orion’s news flow offers insight into how the company positions itself within the energy efficiency and clean tech space.
Orion Energy Systems, Inc. (NASDAQ: OESX) announced a webcast and conference call to discuss its third quarter results, scheduled for February 9, 2023, at 10:00 a.m. ET. The results will be released before the market opens. Participants must pre-register to obtain a dial-in number and unique PIN for the call. Orion specializes in energy-efficient LED lighting, maintenance services, and EV charging solutions, focusing on providing sustainable solutions to large national customers. More information about their ESG priorities is available on their website.
Orion Energy Systems, Inc. (NASDAQ: OESX) announced preliminary Q3’23 results, showing revenue at approximately $20M, an increase from $17.6M in Q2’23 but down from $30.7M in Q3’22. The company attributed revenue fluctuations to delays in large projects and slower activity in its electrical contractor channel. Orion maintains a positive outlook for Q4’23, anticipating revenue growth exceeding $22.1M from Q4’22. Full FY’23 revenue is now expected between $77M to $80M, with FY’24 revenue growth projected at over 30%. Financial liquidity stands at around $19M, bolstered by recent acquisitions.
Orion Energy Systems, Inc. (NASDAQ: OESX) has announced the appointment of Ken Poole as the Executive Vice President of Sales. Poole brings over 23 years of experience, previously serving as Vice President of Strategic Account Sales at Johnson Controls North America, where he managed over $1B in revenue. His leadership background includes significant roles at Tyco Integrated Security and ADT Security Services. CEO Michael Jenkins expressed confidence that Poole's expertise will enhance Orion's growth strategy, particularly in its energy-efficient LED lighting and EV charging solutions.
Orion Energy Systems (NASDAQ: OESX) announced the appointment of Charles McDulin to its board of directors, increasing the board size to six members. McDulin is an investment analyst at Philotimo Fund, LP, a hedge fund with a 5.3% stake in Orion. His appointment reflects a commitment to enhancing investor representation on the board according to Chair Tony Otten. The move follows a Cooperation Agreement that will also be filed with the SEC. Orion continues to focus on energy-efficient LED lighting and EV charging solutions.
Orion Energy Systems (Nasdaq: OESX) has secured a $9.6M contract for turnkey LED lighting retrofits at five U.S. Department of Defense bases in Europe. The contract includes site audits, engineering, project management, installation, and commissioning of over 60,000 energy-efficient lighting fixtures. Orion expects to begin product deliveries and installations in Q4 FY 2023, completing the projects within approximately twelve months. This project marks Orion's first collaboration with the DoD in Europe, reflecting the company's growing partnership with a global Energy Service Company.
Orion Energy Systems will participate in the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022, at 8:00 a.m. ET in New York City. CEO Mike Jenkins and CFO Per Brodin will meet with investors at this invitation-only event, showcasing smaller public companies with significant growth potential. The Alpha Select List focuses on companies with market caps below $500M and strong management teams. Orion is a leader in energy-efficient LED lighting and EV charging solutions, committed to sustainability and enhancing business performance.
Orion Energy Systems, Inc. (Nasdaq: OESX) has appointed Michael H. Jenkins as its new Chief Executive Officer, succeeding Mike Altschaefl, who retired on November 10, 2022. Jenkins, who joined Orion last year, was selected for his extensive leadership and operational experience. Altschaefl will remain with the company as a board member and may provide consulting services until the end of 2023. Jenkins thanked Altschaefl for his contributions, noting he returned Orion to financial strength and expanded its customer base during his tenure.
Orion Energy Systems reported Q2 FY2023 results, showing revenue decline to $17.6M, down from $36.5M in Q2 FY2022. The gross profit percentage decreased to 25.3% versus 29.5% the previous year. The company faced a net loss of $2.3M, or $0.08 per share, compared to a net income of $3.7M, or $0.12 per share in Q2 FY2022. Adjusted EBITDA was negative $1.5M. Despite challenges, Orion anticipates stronger revenue in the second half of FY2023, targeting $90M to $110M total revenue for the year, supported by new project opportunities.
Orion Energy Systems (NASDAQ: OESX) will host a webcast and conference call to discuss its fiscal second-quarter results on November 8, 2022, at 10:00 a.m. ET. Participants must pre-register for the call to obtain a dial-in number and PIN. Orion specializes in energy-efficient LED lighting, maintenance services, and EV charging solutions. The company aims to help clients meet their environmental goals and enhance performance.
Orion Energy Systems (NASDAQ: OESX) announced its acquisition of Voltrek, LLC, expanding into the electric vehicle (EV) charging station market. Voltrek generated $4.8M in revenue in 2021, primarily in New England, providing turnkey EV solutions.
This acquisition positions Orion in a growing market, driven by projected EV sales rising from 6.6M units in 2021 to 20.6M units by 2025. The deal aligns with Orion's strategic goals and offers cross-selling opportunities with its LED lighting solutions.