This was another good call. Expectation beat and a very conservative forecast for Q4.
Orion Energy (OESX) reported Tuesday:
- “During the third quarter, we added a number of new national accounts that maintain leading market positions across industries, which included a major retailer with stores throughout much of the United States and Western Canada. Again these initial projects represent a significant opportunity for potential revenue in the future”
- ” Also in the third quarter we captured business from well respected nationally known medical practice that installed our parking lot technology in a market estimated to have nearly 20 million allocated HIV parking lots nationwide. This project exemplifies the growing opportunity of our parking lot technology not only in the commercial industrial sector, but also at offices complexes, opening a new channel of business prospects for Orion.”
- “Since 2001 we have displaced 500 megawatts of capacity which is the equivalent to the amount of electricity produced by a traditional fossil fuel power plant.”
- “The end result is that our customers have reduced their energy by a collective $782 million money they can carry through to their bottom lines”
- ” Related to our cash flows, we generated cash flow from operations of $3.7 million during the quarter”
- Regarding the Stimulus: “The only thing that’s absolute today there is something that’s been around for sometime that’s basically all the EPAC the similar to depreciation components. As far as a lot of stimulus dollars we’re all hearing about, but not seeing a lot of cash going into the market. Utilities are still out there very active and many of them are re-opting and even increasing their demand side management project spends, but as far as coming from the Federal government, I think it’s municipally driven and there is a lot of more loan guarantees and what not then outright cash grants or something”
Full Call:
Orion Q3 Earnings Call