Orbital Energy Group Reports Third Quarter 2020 Financial Results
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Orbital Energy Group, Inc. (OEG) Tops Q3 EPS by 3c, Revenues Miss
November 16, 2020 8:05 AM ESTOrbital Energy Group, Inc. (NASDAQ: OEG) reported Q3 EPS of ($0.11), $0.03 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $13.6 million versus the consensus estimate of $23.5 million.
Financial and Operating Highlights:
Reported total revenues of $13.6 million for the third quarter of 2020, compared to $6.1 million for the third quarter of 2019, an increase of 124%, primarily attributable to the addition of Reach Construction Group ("Reach") and the Company's Orbital Power Services group;Gross profit was $2.4 million for the third quarter of 2020, compared to $1.4 million for the third quarter of 2019 with... More