Orion Energy Sys Inc Stock Price, News & Analysis

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.

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.

Orion Energy Systems reported its fiscal 2022 Q3 and 9M results, with Q3 revenue declining to $30.7M from $44.3M due to project delays linked to supply chain issues and COVID-19. Net income fell to $1.1M, or $0.04 per share, while 9M revenue rose 25.8% to $102.3M. Gross profit percentage remained unchanged at 24.9% for Q3, with 9M gross profit improving to 28%. Orion acquired Stay-Lite Lighting, expecting over $20M in maintenance services revenue for FY 2023. The company anticipates FY 2022 revenue of approximately $130M, indicating 11% growth compared to FY 2021.

Orion Energy Systems (NASDAQ: OESX) will host a conference call and webcast on February 9, 2022, at 10:00 a.m. ET to review its fiscal 2022 third quarter results. The financial results will be released prior to the market opening on that day. Investors can join the call by dialing (877) 754-5294 for U.S. participants or (678) 894-3013 for international access. An audio replay will be available shortly after the call through February 16, 2022.

Orion specializes in LED lighting systems and energy-efficient solutions, helping customers reduce their carbon footprint.

Orion Energy Systems (OESX) announced preliminary revenue expectations of approximately $30.5 million for FY 2022 Q3, ending December 31, 2021. This is a decrease from previous estimates of $150 million to $130 million for the fiscal year due to customer project delays linked to supply chain disruptions and COVID-19 impacts. Despite this, Orion expects an 11% revenue growth over FY 2021’s $116.8 million. The company remains confident in its long-term growth strategy, aiming for $500 million in annual revenue in five years, supported by a $17 million cash position.