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. reports news about energy-efficiency and clean-tech solutions for commercial, industrial, public-sector and large national customers. The company provides LED lighting and controls, EV charging stations and infrastructure through Orion/Voltrek, maintenance services, electrical contracting, and turnkey design-through-installation project work delivered directly and through ESCO and distribution partners.
Recurring updates include enterprise project awards, EV charging deployments, lighting product introductions, battery energy storage offerings, industry event participation, customer and partner activity, and management commentary on revenue growth and profitability. Coverage also reflects Orion's role as a licensed electrical contractor and its expansion of infrastructure services across customer facilities.
Orion Energy Systems (OESX) reported Q1 fiscal 2023 results, revealing a revenue drop to $17.9M, down from $35.1M in Q1'22. This decline was driven by project completion issues and customer delays amid economic uncertainties. Gross profit percentage also fell to 19.8% from 29.1% last year, contributing to a net loss of $2.8M or ($0.09) per share. Despite challenges, Orion anticipates revenue growth in FY 2023, estimating between $90M to $110M due to new projects and a focus on maintenance services.
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Orion Energy Systems (NASDAQ: OESX) has scheduled a conference call and webcast on August 3, 2022, at 10:00 a.m. ET to discuss its fiscal first quarter results. Participants must pre-register to obtain the call's dial-in number and PIN. Results will be released prior to the market's opening on the same day. Orion specializes in energy-efficient LED lighting and electrical maintenance services, aiding customers in achieving energy savings and reducing their carbon footprint.
Orion Energy Systems (OESX) announced a strategic partnership with SnapCount to integrate its energy-efficient LED lighting solutions into SnapCount's software platform. This collaboration enables lighting contractors and Energy Service Companies (ESCOs) to access accurate product specifications, streamlining project quotations. SnapCount's COO praised Orion for its high-quality products and commitment to sustainability, projecting growth potential. Orion's COO expressed optimism about leveraging SnapCount's network to boost sales and market insights.
Orion Energy Systems (OESX) will showcase its energy-efficient LED lighting products at LIGHTFAIR 2022 in Las Vegas from June 21-23. CEO Mike Altschaefl expressed excitement about returning to the event and emphasized Orion's offerings, which include LED fixtures, control systems, and national maintenance services. The company prides itself on its 'Made in USA' quality, rapid order processing, and superior customer service. Investors can participate in a Q&A session on June 21 from 3:30 to 4:30 pm PT.
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Orion Energy Systems reported its fiscal 2022 Q4 and full-year results, showing a 6.5% increase in revenue to $124.4M, despite a decline in Q4 revenue to $22.1M. The net income for FY 2022 was $6.1M (EPS: $0.19), down from $26.1M (EPS: $0.83) in the previous year due to a non-cash tax benefit in FY 2021. Gross profit improved for the year but dropped to $5.3M in Q4. The company ended the fiscal year with over $35M in liquidity. CEO Mike Altschaefl stated progress was made despite challenges and emphasized growth in energy service company channels, with expectations for continued expansion.
Orion Energy Systems (NASDAQ: OESX) announced a conference call on June 7, 2022, at 10:00 a.m. ET to discuss its fiscal Q4 and full year 2022 results. The company will release its financial results prior to market open that day. The call can be accessed via dial-in or webcast. Orion specializes in energy-efficient LED lighting, controls, and IoT systems, providing solutions to help customers achieve energy savings and reduce their carbon footprint.
Orion Energy Systems (OESX) announced preliminary results for FY 2022, projecting revenues around $124M, a 6% increase from $116.8M in FY 2021. The gross profit margin is expected to rise to at least 27% from 25.8%, with operating income estimated between $8.2M and $8.4M. With liquidity at roughly $35M, Orion sees significant growth potential despite challenges from postponed projects and supply chain issues. The company anticipates maintaining or exceeding FY 2022 revenue in FY 2023, driven by growth outside its largest customer, currently accounting for 49% of revenue.
Orion Energy Systems (NASDAQ: OESX) has announced new changes to its executive compensation plans aimed at benefiting investors. The Compensation Committee modified CEO Mike Altschaefl's severance arrangement from a 'single-trigger' to a 'double-trigger' structure. Furthermore, the upcoming restricted stock awards will now feature a mix of time-based and performance-based vesting criteria, moving away from solely time-based vesting. These adjustments align with best practices in executive compensation, reflecting the Committee's commitment to shareholder interests.