OESX | Market Cap: $41.7M (07/13/26)
Industry:
Capital Goods

DESCRIPTION

Orion sells LED lighting systems and installation services to commercial and industrial customers. The company provides LED fixtures, such as high bay and smart lighting controls, primarily for retrofit projects that reduce energy costs. Orion operates through three segments: Lighting, Maintenance, and EV Charging. The Lighting segment manufactures LED fixtures in-house and offers turnkey services including design and project management. The Maintenance segment provides recurring repair and replacement services under multi-year contracts. The EV Charging segment, managed through the Voltrek subsidiary, installs and supports charging hardware sourced from third parties. Orion also performs electrical contracting for new construction and battery storage projects. Orion targets large national accounts, including retailers and manufacturers, as well as government entities and electrical distributors. Orion maintains significant customer concentration with its largest clients. Orion argues that manufacturing in Wisconsin provides supply chain flexibility and a buffer against tariffs. Growth initiatives include selling electrical and EV infrastructure services to existing lighting customers, entering the hyperscale data center market with specialized fixtures, and expanding its EV charging operations nationally. Orion also manages utility incentives on behalf of customers to improve project economics.

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