Orion Expects Fiscal 2024 Revenue Growth Of 16%-23% To A Range Of ~$90M-$95M Vs. $97.5M Est; Sees Q4 Revenue In The Range Of $26M-$31M Vs. $32.31M Est.
Portfolio Pulse from Benzinga Newsdesk
Orion (OESX) forecasts FY 2024 revenue growth of 16%-23%, aiming for $90M-$95M, below the $97.5M estimate. Q4 revenue is expected to be $26M-$31M, under the $32.31M estimate. Growth is anticipated from LED lighting projects, EV charging solutions, with a slight decrease in maintenance services. FY 2025 targets 10-15% growth, considering the completion of a large DOD project and challenges in the maintenance business.
February 07, 2024 | 12:51 pm
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Orion forecasts lower-than-expected FY 2024 revenue at $90M-$95M and Q4 revenue at $26M-$31M, driven by LED lighting and EV charging projects, with a slight decrease in maintenance services.
Orion's revenue forecast for FY 2024 and Q4 is below market expectations, which could lead to negative investor sentiment in the short term. The focus on LED lighting and EV charging projects indicates growth areas, but the decrease in maintenance services and the lower-than-expected revenue forecast could impact the stock negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100