Orbit International Q2 revenue falls on lower bookings
Orbit International Q2 revenue falls on lower bookings
Overview
U.S. custom electronics maker's Q2 revenue fell yr/yr, net loss widened
Quarterly results impacted by lower bookings and contract delays, mainly in Orbit Instrument division
Backlog at June 30, 2026 rose 6.5% from year-end, driven by lower shipments and increased proposals
Outlook
Company expects Orbit Instrument division delivery schedules to improve significantly in Q4 2026
Bookings at Orbit Power Group have increased by 87.8% through July 31, 2026
Company expects SPS bookings to improve from prior year, assuming no significant delays
Result Drivers
CONTRACT DELAYS - Co said contract delays and lower bookings in 2025 led to reduced deliveries and lower sales in Q2, especially in Orbit Instrument division
SUPPLY CHAIN ISSUE - A supply chain delay pushed a $1.4 mln Orbit Power Group shipment from 2025 into Q1 2026, boosting OPG revenues and margins
HIGHER LEGAL COSTS - SPS results were negatively affected by increased legal expenses related to litigation and other legal matters
Company press release: ID:nGNX623DZX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| $4.89 mln |
|
Q2 Loss Per Share |
| $0.51 |
|
Q2 Net Loss |
| $1.72 mln |
|
Q2 Gross Margin |
| 26.50% |
|
Q2 Gross Profit |
| $1.29 mln |
|
Q2 Loss Per Basic Share |
| $0.51 |
|
Q2 Pretax Loss |
| $1.71 mln |
|
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)