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.
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AMSC (NASDAQ: AMSC) has secured an approximately $8 million contract with Textron Systems to develop a pre-production High-Temperature Superconductor (HTS) Magnetic Influence Mine Countermeasure Payload System for the U.S. Navy. This project is part of a larger initiative worth over $20 million, aimed at modernizing the Navy's mine-sweep capabilities onboard the Common Unmanned Surface Vessel (CUSV) platform. The MAGNUSS program, supported by the Office of Naval Research, intends to replace traditional mine-sweep systems. AMSC’s HTS system is designed to enhance fleet safety during mine countermeasure operations, contributing to the advancement of naval technologies.
AMSC reported its financial results for the third quarter of fiscal year 2022, with revenues of $23.9 million, down from $26.8 million in the same quarter last year, primarily due to lower revenues in the Grid segment. The company experienced a net loss of $9.6 million ($0.34 per share), compared to a $4.3 million loss in the previous year. AMSC secured $43 million in total orders and ended the quarter with a backlog exceeding $110 million. For the fourth quarter, AMSC anticipates revenues of $27 million to $30 million and a net loss not to exceed $8.0 million.