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American Superconductor Corporation (AMSC) delivers cutting-edge solutions for renewable energy systems, smart grid technologies, and defense applications. This news hub provides investors and industry professionals with essential updates on the company's strategic developments.
Track all official announcements including quarterly earnings, product innovations, and partnership agreements. Our curated feed covers AMSC's core segments: wind energy controls, grid resilience solutions, and naval defense systems, offering insights into technological advancements and market positioning.
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AMSC reported strong financial results for Q3 FY2024, with revenue increasing 56% year-over-year to $61.4 million, compared to $39.4 million in Q3 FY2023. The growth was attributed to organic expansion and the NWL, Inc. acquisition.
The company achieved a net income of $2.5 million ($0.07 per share), marking its second consecutive profitable quarter, compared to a net loss of $1.6 million ($0.06 per share) in the same period last year. Non-GAAP net income reached $6.0 million ($0.16 per share).
Cash position strengthened to $80.0 million as of December 31, 2024. For Q4 FY2024, AMSC projects revenue between $59.0-63.0 million and expects a net loss not exceeding $1.0 million ($0.03 per share), with non-GAAP net income expected to exceed $2.5 million ($0.07 per share).
AMSC (NASDAQ: AMSC), a provider of megawatt-scale power resiliency solutions, has announced it will release its third quarter fiscal year 2024 financial results after market close on February 5, 2025. The company will host a conference call with investors and analysts on February 6, 2025 at 10:00 a.m. Eastern Time to discuss recent accomplishments, financial results, and business outlook.
Interested parties can access the live call 15 minutes before the start time by dialing 1-844-481-2802 or 1-412-317-0675. A replay will be available 2 hours after the call by dialing 1-877-344-7529 with conference passcode 9514460. The webcast can be accessed through the 'Investors' section of AMSC's website.
AMSC reported strong financial results for Q2 FY2024, with revenue increasing 60% year-over-year to $54.5 million. The company achieved a net income of $4.9 million ($0.13 per share), compared to a net loss of $2.5 million in Q2 FY2023. The growth was primarily driven by the NWL acquisition and increased shipments of new energy power systems. AMSC booked nearly $60 million in new orders and ended the quarter with over $200 million in 12-month backlog. For Q3 FY2024, AMSC expects revenues between $55-60 million with a projected net loss not exceeding $1.0 million.
AMSC (NASDAQ: AMSC), a provider of megawatt-scale power resiliency solutions, has announced it will release its second quarter fiscal year 2024 financial results after market close on October 30, 2024. The company will host a conference call with investors and analysts on October 31, 2024 at 10:00 a.m. Eastern Time to discuss accomplishments, financial results, and business outlook. Interested parties can access the live call by dialing 1-844-481-2802 or 1-412-317-0675, or visit the 'Investors' section of AMSC's website.
AMSC has updated its financial guidance for the second fiscal quarter ending September 30, 2024, following the acquisition of NWL. The company now expects revenues between $50 million and $55 million, up from the previous guidance of $38 million to $42 million. AMSC also anticipates positive cash generation of $1.0 to $4.0 million, an improvement from the previous forecast.
The acquisition of NWL is expected to strengthen AMSC's revenue quality, earnings, and industrial market penetration. It also has the potential to expand AMSC's military footprint within the US Navy and Department of Defense. The combined companies aim to provide a broader range of industrial product offerings to an expanded customer base.
AMSC reported strong financial results for Q1 FY2024, with revenue increasing over 33% year-over-year to $40.3 million. The company achieved a non-GAAP net income of $3.0 million, or $0.09 per share, compared to a net loss in the same period last year. AMSC's GAAP net loss narrowed to $2.5 million, or $0.07 per share.
Key highlights include:
- Generated $3.4 million in operating cash flow
- Expanded gross margins
- Booked over $127 million in new orders
- Ended Q1 with $160 million in 12-month backlog and $250 million in total backlog
- Cash position strengthened to $95.5 million
For Q2 FY2024, AMSC expects revenue between $38-$42 million and a non-GAAP net loss of at least breakeven.
AMSC has acquired NWL, Inc., a New Jersey-based company specializing in power supplies for industrial and military customers, for $25 million in cash and 1,297,600 restricted shares of AMSC common stock valued at approximately $31.4 million. An additional $5 million cash payment is subject to adjustments. NWL has a three-year average revenue of $55 million with operating margins approaching the teens. This acquisition aligns with AMSC's strategy to accelerate profitable growth, broaden product offerings, and expand market reach. The combined entity is expected to strengthen AMSC's position in the military power supply sector, particularly within the US Navy and Department of Defense. AMSC anticipates this acquisition will be accretive to earnings per share and accelerate its path to sustainable profitability.
AMSC, a provider of megawatt-scale power resiliency solutions, has announced the release of its first quarter fiscal year 2024 financial results on August 6, 2024, after market close. The company will host a conference call with investors and analysts on August 7, 2024, at 10:00 a.m. Eastern Time to discuss recent accomplishments, financial results, and business outlook.
Interested parties can access the live or archived webcast through the 'Investors' section of AMSC's website. The live call can be joined 15 minutes before the scheduled start by dialing 1-844-481-2802 or 1-412-317-0675. A replay will be available 2 hours after the call by dialing 1-877-344-7529 with passcode 9653245.
AMSC has received a $12 million order for 3 MW class wind turbine electrical control systems (ECS) from Inox Wind , India's premium wind turbine manufacturer. The order is expected to be shipped mostly in fiscal year 2024. This follow-on order demonstrates the growing demand in India's wind market, with Inox reporting a backlog of nearly 2.7 gigawatts of orders.
The Indian onshore wind market capacity is forecasted to add over 80 GW by 2032, reaching an installed capacity of 122 GW. AMSC's 3 MW class wind turbine design is type certified according to GL2010 onshore guidelines and can operate up to 3.3 MW under certain conditions. This order further illustrates AMSC's continued momentum in the renewable energy sector.
AMSC has secured a $75 million contract with Irving Shipbuilding for its proprietary Ship Protection Systems, intended for the Royal Canadian Navy's new Canadian Surface Combatant (CSC) ships. The contract encompasses hardware delivery, engineering support, system integration, and commissioning. This marks AMSC's first contract with an allied navy for the Ship Protection System, showcasing its technological footprint and potential for international growth. The first system delivery is slated for 2026. AMSC's systems are designed to enhance naval protection by reducing ships' magnetic signatures, thereby defending against undersea mines. The contract aligns with AMSC's strategic diversification and expansion efforts.
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