Orion Energy Systems Q1 revenue rises on increased large project activity

Orion Energy Systems

05/08/2026 12:24

Overview
U.S. LED lighting and EV charging provider's fiscal Q1 revenue grew 32% yr/yr
Company achieved net income in Q1, reversing prior yr loss
Gross margin expanded by 450 bps, driven by pricing and cost improvements

Outlook
Orion expects FY'27 revenue between $95 mln and $97 mln
Company anticipates positive adjusted EBITDA for FY'27
Company notes uncertainty in near-term EV charging project funding and scope

Result Drivers
LED LIGHTING PROJECTS - Co said LED lighting revenue grew 37% due to increased large project activity and entry into hyper-scale data center market
EV CHARGING VARIABILITY - Co said EV charging revenue rose 48%, reflecting variability in timing of larger projects and uncertainty in infrastructure environment
GROSS MARGIN IMPROVEMENTS - Co attributed gross margin expansion to pricing and cost improvements across lighting and maintenance segments

Company press release: ID:nGNX8h8tS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
 
$0.47
 
Q1 Net Income
 
$2 mln
 
Q1 Adjusted EBITDA
Beat
$2.50 mln
$1.90 mln (1 Analyst)
Q1 Gross Profit
 
$8.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
Wall Street's median 12-month price target for Orion Energy Systems Inc is $23.93, about 130% above its August 4 closing price of $10.40
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 24 three months ago

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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.)