American Superconductor Corp Stock Price, News & Analysis

AMSC (Nasdaq: AMSC) reported third-quarter fiscal 2020 revenues of $23.6 million, up from $17.9 million year-over-year, driven by increased revenues in both Grid and Wind segments. The net loss for the quarter was $7.9 million ($0.31 per share), slightly improved from a net loss of $6.8 million ($0.32 per share) in Q3 2019. The company's cash and equivalents rose to $84.4 million by December 31, 2020. For Q4, AMSC anticipates revenues of $18 million to $22 million with expected net losses not exceeding $8 million.

AMSC (NASDAQ: AMSC) plans to release its third quarter fiscal year 2020 financial results on February 3, 2021, after market close. A conference call will follow on February 4, 2021, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and business outlook. Investors can listen to the call via the company's website or by phone. AMSC is a provider of power resiliency solutions, optimizing grid performance and enhancing the operational safety of naval fleets.

AMSC has secured its fourth contract for a high temperature conductor (HTS)-based ship protection system with the U.S. Navy to be used on the USS Richard M. McCool Jr. (LPD-29). This contract highlights AMSC's commitment to enhancing naval fleet capabilities by reducing magnetic signatures to protect against undersea mines. The San Antonio-class ships are crucial for various military operations, expected to serve throughout the 21st century. AMSC continues to innovate in power resiliency solutions, aiming to bolster military and renewable energy sectors.

AMSC reported its financial results for Q2 FY2020, revealing revenues of $21.1 million, up from $14.0 million in Q2 FY2019, largely due to increased D-VAR shipments. However, the company incurred a net loss of $3.7 million or $0.17 per share, compared to a $0.8 million loss in the prior year. For Q3 FY2020, revenue is projected between $22 million and $25 million, but net loss may reach $6.0 million. AMSC anticipates maintaining cash reserves over $80 million by year-end.

AMSC has announced $15 million in new energy power system orders, emphasizing the demand from the renewable energy sector in the U.S. The orders include AMSC’s D-VAR® STATCOM and D-VAR VVO® systems, as well as NEPSI metal enclosed capacitor banks. These systems enhance voltage regulation and power quality for wind and solar energy integration into the grid. Revenue from these orders is anticipated to be recognized in fiscal year 2021, with the CEO stating that this positions their Grid business for growth.

AMSC (NASDAQ: AMSC) will announce its second quarter fiscal year 2020 financial results on November 4, 2020, post-market close. Following this, management will host a conference call on November 5, 2020, at 10:00 a.m. ET to discuss market trends, recent accomplishments, financial results, and business outlook. Investors can access the call via the AMSC website or by phone. AMSC specializes in power resiliency solutions for the grid and naval fleets, aiming for enhanced operational efficiency and reliability.

American Superconductor Corporation (Nasdaq: AMSC) has announced a public offering of 3,670,000 shares of common stock priced at $15.00 per share, with expected gross proceeds of $55,050,000. The funds will support general corporate and working capital needs. An option for underwriters to purchase an additional 550,500 shares is included. The offering is set to close around October 26, 2020, subject to standard conditions. Oppenheimer & Co. Inc. is the lead manager, with Craig-Hallum and Roth Capital acting as co-managers.

American Superconductor Corporation (Nasdaq: AMSC) announced plans for an underwritten public offering of its common stock, including a 30-day option for underwriters to purchase additional shares. Proceeds are intended for general corporate purposes. The offering's size and terms are subject to market conditions. Oppenheimer & Co. Inc. is the book-running manager. A registration statement for the shares is effective with the SEC, with details to be provided in a preliminary prospectus supplement. The completion of the offering is uncertain and contingent on various market factors.

AMSC has acquired Northeast Power Systems, Inc. (NEPSI) for $26 million in cash and equity, aiming to enhance its industrial product offerings and achieve profitability independent of its wind business. NEPSI, with annual revenues of approximately $25 million and 20% operating margins, strengthens AMSC's position in the static voltage management market. AMSC anticipates its revenues for Q2 2020 to be between $20.5 million and $21.5 million, an improvement from prior guidance, and expects positive operating cash flow for Q3 2020. The company projects Q3 revenues between $22 million and $25 million, including NEPSI's contributions.