Orion Energy Systems, Inc. (OESX) Reports Q1 Loss, Tops Revenue Estimates

Company Performance - Orion Energy Systems, Inc. reported a quarterly loss of $0.11 per share, which is better than the Zacks Consensus Estimate of a loss of $0.12, and an improvement from a loss of $0.18 per share a year ago, representing an earnings surprise of 8.33% [1] - The company posted revenues of $19.91 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 3.89%, compared to revenues of $17.61 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates four times, although it has only topped consensus revenue estimates once [2] Stock Performance - Orion Energy Systems shares have increased approximately 22.3% since the beginning of the year, outperforming the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $22.67 million, and for the current fiscal year, it is -$0.31 on revenues of $102.38 million [7] Industry Outlook - The Building Products - Lighting industry, to which Orion Energy Systems belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]