MANITOWOC, Wis. - Orion Energy Systems, Inc. (NASDAQ: NASDAQ:OESX), known as Orion Lighting, has been awarded a contract to retrofit lighting systems for a leading North American Building Products distributor across more than 400 locations. The project is set to begin in the third quarter of the fiscal year 2025 and is expected to span several years. The company, which has shown revenue growth of 14.4% in the last twelve months, currently has a market capitalization of $27.54 million.
The contract, valued between $12 million and $18 million, will see Orion Lighting provide comprehensive services including site visits, lighting audits, and the installation of LED lighting systems. For the fiscal year 2025, the company anticipates revenue of approximately $1 million from this deal. According to InvestingPro analysis, while the stock currently trades at $0.84, analysts have set price targets ranging from $2 to $3, suggesting significant potential upside. InvestingPro's Fair Value analysis indicates the stock may be undervalued at current levels.
Orion's CEO, Michael Jenkins, expressed the company's enthusiasm for the project, highlighting the benefits of their LED lighting products and turnkey installation capabilities. The retrofitting initiative aims to significantly reduce the customer's energy consumption and carbon footprint, while improving safety and lighting quality for employees, customers, and vendors. InvestingPro data reveals two important insights about OESX: the company is currently trading near its 52-week low, and analysts don't anticipate profitability this year. Subscribers can access 4 additional ProTips and comprehensive financial analysis through InvestingPro's detailed research reports.
Orion Energy Systems specializes in energy-efficient solutions, offering products and services such as LED lighting and controls, electric vehicle (EV) charging stations, and maintenance services. The company's focus is on delivering environmentally friendly and sustainable solutions to help clients achieve their business and ecological objectives. For deeper insights into OESX's financial health, growth prospects, and detailed valuation metrics, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro.
The forward-looking statements in the announcement are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These statements are made as of the date of the press release, and Orion Energy Systems has no obligation to update any forward-looking statements.
This news article is based on a press release statement from Orion Energy Systems, Inc.
In other recent news, Orion Energy Systems announced its fiscal 2025 second-quarter results. CEO Mike Jenkins and CFO Per Brodin discussed the company's financial performance and gave an outlook for the remainder of the fiscal year. They highlighted both challenges and positive trends impacting Orion's business, acknowledging potential risks that could affect future results. The management also pointed out positive trends that may benefit the company. However, specific areas where Orion fell short of expectations were not detailed in the report. The earnings call, which included a Q&A session, allowed investors to inquire further about Orion's performance and expectations. These developments are part of the recent news surrounding Orion Energy Systems.
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