Orbital Energy Stock Soars 20% After Q4 Results

Orbital Energy Group Inc OEG reported fourth-quarter revenue growth of 65.3% year-over-year to $41.05 million, missing the consensus of $45.02 million.
EPS declined to $(0.34) from $(0.25) in 4Q20, missing the consensus of $(0.10).
The Gross margin contracted to 18% from 28.3% a year ago.
The loss from operation expanded to $(8.72) million versus $(6.39) million in 4Q20.
Adjusted EBITDA from continuing operations for the quarter was $(1.15) million, an improvement from $(3.25) million in 4Q20.
Backlog increased by 28% Y/Y to $523.7 million.
OEG’s net cash used in operating activities for FY21 totaled $45.68 million, compared to $15.03 million in FY20.
FY22 Outlook: Orbital Energy expects Adjusted EBITDA from continuing operations of $38 million – 43 million.
OEG shares have lost about 21.2% year-to-date.
Price Action: OEG is trading higher by 20.43% at $2.24 during the post-market session on Wednesday.