Welcome to our dedicated page for American Superconductor news (Ticker: AMSC), a resource for investors and traders seeking the latest updates and insights on American Superconductor stock.
American Superconductor Corporation (AMSC) (Nasdaq: AMSC) is described by the company as a system provider of megawatt-scale power resiliency solutions for electric grids, naval fleets and wind energy applications. The AMSC news stream highlights how its Gridtec, Marinetec and Windtec solution families are reflected in financial performance, acquisitions and capital markets activity.
News items for AMSC frequently cover quarterly and annual financial results, where the company reports revenue trends, segment performance for its Grid and Wind businesses, and commentary on demand across energy and military markets. These releases often include business outlook statements for upcoming quarters and discussions of bookings, backlog and cash balances.
Investors and observers will also find transaction and financing announcements, such as AMSC’s public offerings of common stock and its stated use of proceeds for working capital, general corporate purposes and potential strategic acquisitions. Another key category of news is acquisition activity, including the disclosed acquisitions of NWL, Inc. and Comtrafo Indústria de Transformadores Elétricos S.A., which AMSC links to expanded product offerings and geographic reach.
AMSC’s news flow also includes conference call and earnings release scheduling, where the company announces dates and times for investor calls and provides access details. Each earnings-related release typically reiterates the company’s description of its Gridtec, Marinetec and Windtec Solutions and its focus on smarter, cleaner energy and power resiliency.
For readers following AMSC, this news page offers a consolidated view of the company’s reported financial results, strategic acquisitions, equity offerings and management commentary. Users interested in the AMSC stock story can review historical and recent announcements to understand how the company presents its progress in grid, naval and wind energy markets over time.
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.
AMSC (Nasdaq: AMSC) reported its fourth quarter and fiscal year 2023 financial results. The company saw a significant increase in full-year revenues by 37% to $145.6 million, with a gross margin expansion of 1,620 basis points. For Q4, revenues reached $42 million, up from $31.7 million year-over-year, driven by strong performance in both Grid and Wind segments. Net loss for Q4 narrowed to $1.6 million from $6.9 million in the same period last year, while the non-GAAP net income was $1.9 million compared to a non-GAAP net loss of $7.8 million. For the full fiscal year, the net loss was $11.1 million, improved from $35 million last year. AMSC ended fiscal 2023 with $92.3 million in cash reserves. The company has provided a positive outlook for the first quarter of fiscal 2024, expecting revenues between $38 million and $42 million and a net loss not exceeding $2.2 million.
AMSC (NASDAQ: AMSC), a key provider of megawatt-scale power resiliency solutions, will release its fourth quarter and fiscal year 2023 financial results on May 29, 2024, after the market closes. The announcement includes a conference call scheduled for May 30, 2024, at 10:00 a.m. Eastern Time, where management will discuss recent accomplishments, financial results, and business outlook. Investors can access the live call by dialing provided numbers or visit AMSC's website for a webcast. A replay will be available two hours post-call.
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