Orion Energy Sys Inc Stock Price, News & Analysis

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.

Orion Energy Systems, Inc. (NASDAQ: OESX) will participate in H.C. Wainwright's 24th Annual Global Investment Hybrid Conference on September 12-13, 2022. CEO Mike Altschaefl, COO Mike Jenkins, and CFO Per Brodin will hold virtual investor meetings. The investor presentation will be accessible online starting at 7:00 a.m. ET on September 12. H.C. Wainwright provides investment banking and advisory services and the event highlights Cleantech and Growth companies. Orion specializes in energy-efficient LED lighting and control systems.

Orion Energy Systems, Inc. (OESX) has secured contracts worth $4.2 million to retrofit two manufacturing facilities for a major automotive manufacturer. These projects, aimed at enhancing workplace safety and energy efficiency, are set for completion in the fiscal year 2023's third and fourth quarters. CEO Mike Altschaefl expressed optimism about the resumed authorization and funding of these delayed projects, reflecting a strong partnership with the automotive sector.

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.

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.