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 Corp. (AMSC) provides megawatt-scale power resiliency solutions for electric-grid, naval and renewable-energy applications. The company operates through Gridtec Solutions, which provides engineering planning services and advanced grid systems; Marinetec Solutions, which provides ship protection systems and develops propulsion and power-management solutions; and Windtec Solutions, which provides wind turbine controls, systems, designs and engineering services.
AMSC news commonly covers quarterly financial results, business outlooks, bookings and backlog trends, margin performance, and demand across utility, industrial, semiconductor, renewable-energy and naval markets. Company updates also include portfolio expansion through acquisitions such as Comtrafo in Brazil, integration of power and distribution transformer capabilities, and capital actions involving its Nasdaq-listed common stock.
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.
AMSC (NASDAQ: AMSC) has announced it will release its third quarter fiscal year 2022 financial results after market close on February 1, 2023. A management conference call will follow on February 2, 2023, at 10:00 a.m. ET to discuss financial results, market trends, and business outlook. The call, accessible via the Company’s website or by phone, will provide investors with insights into AMSC's achievements and market positioning. AMSC specializes in power resiliency solutions and services that enhance grid performance and support Navy fleet operations, contributing to global energy systems.
AMSC (NASDAQ: AMSC) announced $26 million in new energy power systems orders, primarily driven by industrial demand. These orders include harmonic filters and voltage controllers, with most revenue expected in fiscal year 2023. Two-thirds of the orders are for industrial applications such as mining and manufacturing, while a quarter is for renewable projects. The company's focus on sustainability positions it to benefit from growth in renewables and industrial markets. Additionally, AMSC secured its fifth ship protection system contract, highlighting its momentum in the energy sector.
AMSC has secured its fifth Ship Protection System contract with Huntington Ingalls Industries for the San Antonio-Class Amphibious Ship, LPD-32. This contract involves the delivery of a high temperature superconductor (HTS)-based degaussing system, enhancing the ship's operational capabilities by significantly reducing its magnetic signature. The contract underlines AMSC's commitment to advancing naval technology, as the San Antonio-class ships are crucial for amphibious warfare missions. The degaussing system is expected to save between 50% to 80% in weight while improving power efficiency.
AMSC (Nasdaq: AMSC) reported its financial results for Q2 FY2022, showing revenues of $27.7 million, a slight decline from $27.9 million in Q2 FY2021, primarily due to decreased Wind segment revenues. The net loss widened to $9.9 million or $0.35 per share, compared to a loss of $4.4 million or $0.16 per share a year earlier. Non-GAAP net loss was $6.5 million, or $0.23 per share. The company ended the quarter with $37.4 million in cash and a backlog exceeding $100 million. For Q3 FY2022, revenues are projected between $22 million and $26 million.
AMSC (NASDAQ: AMSC) plans to release its second quarter fiscal year 2022 financial results on November 1, 2022, after market close. A conference call will follow on November 2, 2022, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and business outlook. Investors can access the live call or archived webcast through the AMSC website. The company specializes in megawatt-scale power resiliency solutions, enhancing operational safety and efficiency in energy and naval applications.
AMSC announced $30 million in new energy power systems orders, driven by the push for sustainability and decarbonization efforts. Approximately one third of this revenue is expected in fiscal 2022. The orders include various power management products essential for enhancing grid stability and supporting increased demand in metals, mining, and materials. AMSC emphasizes its commitment to low carbon emissions and its critical role in the future of reliable energy.
AMSC (Nasdaq: AMSC) reported its first-quarter fiscal 2022 results, showing revenues of $22.7 million, down from $25.4 million in the same quarter last year. The decrease is attributed to lower Grid segment revenues, particularly from the D-VAR product line. AMSC's net loss widened to $8.7 million ($0.32 per share) compared to $5.4 million ($0.20 per share) in Q1 2021. Despite challenges, the company secured approximately $50 million in new orders, maintaining an order book over $100 million, and expects second-quarter revenues between $23 million and $27 million.
AMSC (NASDAQ: AMSC) plans to announce its Q1 FY2022 financial results on August 3, 2022, after market close. The company will hold an investor conference call at 10:00 a.m. ET on August 4, 2022, to discuss these results and the business outlook. AMSC specializes in advanced energy solutions, including grid systems and naval power management, driving renewable energy enhancements globally. Interested parties can listen live or access a replay via the company’s website.