oeg - OEG STOCK NEWS

Orbital Energy Group (OEG) reported significant financial growth in Q4 2021, achieving $41.0 million in revenues, a remarkable increase from $24.8 million in Q3 and $7.6 million in Q4 2020. Full-year revenues surged to $82.9 million, up from $21.5 million in 2020. Despite these gains, the net loss from continuing operations rose to $15.7 million in Q4 and $49.8 million for the year, attributed to growth investments and delays in solar projects. Notable acquisitions were made, including Front Line Power. A conference call is scheduled for March 30, 2022.

Orbital Energy Group, Inc. (Nasdaq: OEG) will release its financial results for Q4 and full-year 2021 on March 30, 2022. The company aims to maximize shareholder value while providing infrastructure services across various sectors, including electric power and telecommunications. A conference call to discuss the financial results will occur the same day at 5:00 PM ET, accessible via phone or webcast. The company encourages investor engagement through its dedicated IR resources and emphasizes its commitment to sustainability and community contributions.

Orbital Energy Group (NASDAQ: OEG) announced that its subsidiary, Orbital Solar Services (OSS), in partnership with Jingoli Power LLC, has initiated construction on a 130MWdc/100MWac solar farm in Alabama for Lightsource bp. The contract includes full Engineering, Procurement, and Construction (EPC) services and aims for project completion in late 2022. The solar array will utilize 350,000 panels to provide energy for 20,000 homes annually. OSS has a robust history with over 40 solar projects, totaling more than 600 megawatts, emphasizing its leadership in the renewable energy sector.

Orbital Energy Group (NASDAQ: OEG) announced its subsidiary, IMMCO, has designed over two million homes for Fiber-to-the-Premise (FTTP) networks. The company, established in 1992, has expanded operations globally including Australia, the US, and Europe. To accommodate growth, IMMCO has expanded its office in India to provide more than 200 workstations. This expansion reflects GTS's acquisition strategy and aims to enhance shareholder value. The milestone highlights IMMCO's increasing demand and capacity in the telecom sector.

Orbital Energy Group, Inc. (NASDAQ: OEG) has acquired 100% of Front Line Power Construction LLC for $218.4 million. This acquisition will enhance OEG's earnings and cash flow while significantly expanding its scale, projecting combined revenues over $300 million for 2022. Approximately 90% of Front Line's revenue stems from long-term contracts with utility customers, ensuring a stable revenue base. The transaction will be funded via a term loan, restricted shares, and a promissory note. OEG aims to leverage Front Line's expertise to grow its electric power infrastructure services.

Orbital Energy Group (Nasdaq: OEG) reported third-quarter financial results for 2021, achieving revenues of $30.9 million, a significant increase from $16.3 million in the previous quarter and $13.6 million year-over-year. Gross profit rose to $3.8 million, compared to a gross loss of $1.2 million in Q2 2021. The operational loss improved to $11.7 million, down from $17.2 million in the prior quarter. The backlog increased by $115 million, bolstered by acquisitions and new project awards in solar and telecom sectors.

Orbital Energy Group (NASDAQ: OEG) has appointed Nick Grindstaff as Chief Financial Officer, effective November 16, 2021, succeeding Daniel Ford who will assist in the transition. Jim O'Neil, the CEO, emphasized the need for executive team consolidation at the Houston headquarters due to the company's growth. Grindstaff brings over 20 years of infrastructure finance experience, previously serving at Quanta Services and holding degrees in Accounting and Finance. The company aims to enhance its infrastructure services platform while maintaining commitment to integrity and shareholder value.

Orbital Energy Group (Nasdaq: OEG) announced its participation in two upcoming investor conferences. On November 16, 2021, the company will host one-on-one meetings at the 12th Annual Craig-Hallum Alpha Select Conference, a virtual event. Following that, on November 18, 2021, Orbital Energy will present at the Three Part Advisors Southwest IDEAS Conference in Dallas, TX, at 2:30 PM ET, with a webcast available. The company aims to enhance its diversified energy services platform through innovative acquisitions and development.

Orbital Energy Group (NASDAQ: OEG) has announced a Joint Venture Agreement with Jingoli Power, enhancing its capabilities in the utility-scale solar market. This venture will yield nearly $2 billion in bonding capacity, positioning Orbital Solar Services (OSS) for larger projects and sustainable growth. Both companies will leverage their expertise in the engineering, procurement, and construction of renewable energy initiatives. The collaboration aims to address increasing demand for reliable solar development amidst aging energy infrastructure.