Orion Q1 Revenue Declined to $10.8M on COVID-19 Related Customer Delays; Resumption of New and Existing Large National Account Projects Provides Improved Outlook; Investor Call Today at 10am ET

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Go back to Orion Q1 Revenue Declined to $10.8M on COVID-19 Related Customer Delays; Resumption of New and Existing Large National Account Projects Provides Improved Outlook; Investor Call Today at 10am ET

Orion Energy Systems (OESX) Tops Q1 EPS by 1c, Revenues Miss; Offers 2Q Revenue Guidance Above Consensus

August 5, 2020 7:31 AM EDT

Orion Energy Systems (NASDAQ: OESX) reported Q1 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $10.8 million versus the consensus estimate of $15.91 million.

Highlights

Q121 revenue decreased to $10.8M from $42.4M in Q120, reflecting temporary COVID-19 related project suspensions and delays in new project starts in the recent period, versus significant major account activity in the year ago period.Turnkey installations for a major national account resumed this week and are expected to grow in scale over the balance of the year and continue into FY... More