Orion Energy Systems Q1 revenue rises on increased large project activity
Orion Energy Systems Q1 revenue rises on increased large project activity
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.)
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