OESX - Orion Energy Systems reports FQ2 missed earnings; reaffirms 2H and FY23 guidance
- Orion Energy Systems press release ( NASDAQ: OESX ): FQ2 GAAP EPS of -$0.08 misses by $0.02 .
- Revenue of $17.6M (-51.8% Y/Y) misses by $1.5M .
- Q2’23 Adjusted EBITDA was negative $1.5M compared to $4.0M in Q2’22, reflecting lower revenue and gross profit, but improved over negative $2.9M in Q1’23, due to a higher gross profit percentage.
- Orion continues to expect FY2023 second half revenue to be much stronger than the first half, with full year revenue ranging between $90M and $110M vs. consensus of $95.30M. The mid-point of this revenue range would represent double-digit revenue growth compared to FY 2022, outside of the revenue from Orion’s largest customer.
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Orion Energy Systems reports FQ2 missed earnings; reaffirms 2H and FY23 guidance