Orion Announces Preliminary Q3 FY24 Revenue Of $25.8M-$26.2M (vs. Consensus $27.53<) And Expects FY24 Revenue Of $90M-$95M (vs. $99.94M Estimate)
Portfolio Pulse from Benzinga Newsdesk
Orion Energy Systems, Inc. (OESX) has announced preliminary Q3 FY24 revenue figures ranging between $25.8M and $26.2M, which falls short of the consensus estimate of $27.53M. Additionally, the company has revised its FY24 revenue forecast to $90M-$95M, down from the previous estimate of $99.94M.
January 18, 2024 | 12:32 pm
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Orion Energy Systems, Inc. (OESX) has released lower-than-expected preliminary revenue figures for Q3 FY24 and has also reduced its full-year revenue outlook.
The announcement of lower-than-expected preliminary revenue for Q3 FY24 and a reduced revenue forecast for FY24 is likely to negatively impact investor sentiment towards OESX in the short term. This type of financial miss can often lead to a decrease in stock price as it may signal underlying issues with the company's performance or market conditions. The direct mention of OESX and specific financial figures makes the news highly relevant and important to the company's investors.
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