Orbital Energy Group Reports First Quarter 2020 Financial Results

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Go back to Orbital Energy Group Reports First Quarter 2020 Financial Results

Orbital Energy Group, Inc. (OEG) Reports Q1 Loss of $0.24

May 20, 2020 4:11 PM EDT

Orbital Energy Group, Inc. (NASDAQ: OEG) reported Q1 EPS of ($0.24), versus ($0.13) reported last year. Revenue for the quarter came in at $5.7 million, versus $5.5 million reported last year.

Financial and Operating Highlights:

Reported total revenues of $5.7 million for the first quarter of 2020, compared to $5.5 million for the first quarter of 2019;Gross profit was $559,000 for the first quarter of 2020, compared to $1.2 million for the first quarter of 2019, the decline attributable entirely to start-up costs at the Company's Orbital Power Services group and expected to improve throughout the remainder of 2020;Gross... More