Orion Secures LED Lighting Retrofit Project Across 400 Locations

04.12.24 17:43 Uhr

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Orion Energy Systems, Inc. OESX has secured a new contract to provide lighting retrofit solutions for a major building products distributor in North America. The distributor operates more than 400 locations across the region.The project will start in Orion’s third-quarter fiscal 2025 and is expected to continue for several years. The company estimates the total value of the contract to be between $12 million and $18 million, with about $1 million expected in fiscal 2025.Orion to Oversee Nationwide LED Lighting UpgradeOrion will carry out site visits, lighting audits and manage the installation of LED lighting systems across the customer’s national store network. The company will manufacture and supply a mix of LED high bays, strip fixtures, office troffers and some exterior lighting, tailored to each location's requirements.The lighting-upgrade initiative aims to significantly cut down on the customer’s annual energy consumption and reduce its carbon footprint from lighting. This will also improve the lighting quality and safety in each location, benefiting employees, customers and vendors.OESX has been building on its track record with national accounts through the company’s turnkey LED lighting retrofit projects. Orion’s ability to offer advanced LED lighting solutions, along with its complete installation services, helps streamline large projects while delivering improved light levels, energy savings and reduced carbon emissions for clients.Price Performance of OESX’s SharesShares of Orion have lost 1.2% in the past three months against the industry’s 33.6% growth. The company has faced significant inflationary pressures in the past several quarters, leading to many older contracts becoming unprofitable. Additionally, its LED lighting segment was impacted by customer delays, with several projects are expected to begin in the second half of fiscal 2025.Image Source: Zacks Investment ResearchDespite delays in starting new retrofit projects, the company has been experiencing strong quoting activity in its LED lighting business. Both new and existing customers are contributing to this demand.In response to higher costs, OESX has increased its pricing to align the company’s profit margin more closely with its overall business. Also, continuous contact wins will help the company boost its top line (read more: Orion Secures $25 Million LED Lighting Contract, Boosts Growth)OESX's Zacks Rank & Key PicksOESX currently carries a Zacks Rank #4 (Sell).Here are some better-ranked stocks from the Construction sector.Sterling Infrastructure, Inc. STRL presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.It delivered a trailing four-quarter earnings surprise of 21.5%, on average. Shares of STRL have risen 67.8% in the past six months. The Zacks Consensus Estimate for STRL’s 2024 sales and earnings per share (EPS) implies an increase of 9% and 33.3%, respectively, from the prior-year levels.Louisiana-Pacific Corporation LPX currently flaunts a Zacks Rank of 1. LPX delivered a trailing four-quarter earnings surprise of 30.7%, on average. The stock has gained 28% in the past six months.The Zacks Consensus Estimate for LPX’s 2024 sales and EPS indicates an increase of 12.7% and 72.1%, respectively, from a year ago.MasTec, Inc. MTZ presently sports a Zacks Rank of 1. MTZ delivered a trailing four-quarter earnings surprise of 40.2%, on average. The stock has gained 29.9% in the past six months.The Zacks Consensus Estimate for MTZ’s 2024 sales and EPS indicates an increase of 1.9% and 84.3%, respectively, from a year ago.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Louisiana-Pacific Corporation (LPX): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report MasTec, Inc. (MTZ): Free Stock Analysis Report Orion Energy Systems, Inc. (OESX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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