Orbital Energy Group, Inc. (OIG) Misses Q3 EPS by $1.15

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Go back to Orbital Energy Group, Inc. (OIG) Misses Q3 EPS by $1.15

Orbital Infrastructure Group Reports Third Quarter 2022 Results

November 14, 2022 7:00 AM EST

Third Quarter Summary

Revenues of $99.8 million compared to $24.8 million for the third quarter of 2021;Adjusted EBITDA loss from continuing operations of $14.6 million compared to a loss of $6.3 million in the third quarter of 2021; excluding the results of the renewables segment, adjusted EBITDA for the third quarter of 2022 was a positive $6.0 million;Backlog of $472.3 million as of September 30, 2022, up 15% from the third quarter of 2021, with $265.9 million expected to be recognized in the next twelve months; Non-cash impairment charges of $104.7 million related to goodwill, other intangible assets and... More