Orbital Energy Group Reports Second Quarter 2020 Financial Results
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Orbital Energy Group, Inc. (OEG) Misses Q2 EPS by 10c, Revenues Miss
August 18, 2020 4:12 PM EDTOrbital Energy Group, Inc. (NASDAQ: OEG) reported Q2 EPS of ($0.33), $0.10 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $7.8 million versus the consensus estimate of $11.4 million.
Financial and Operating Highlights:
Reported total revenues of $7.8 million for the second quarter of 2020, compared to $6.3 million for the second quarter of 2019, an increase of 24%;Gross profit was $1.0 million for the second quarter of 2020, compared to $1.7 million for the second quarter of 2019, the decline mainly due to late-stage start-up costs at the Company's Orbital Power Services group and COVID-19 related... More