Pioneer Pwr Solutions Inc Stock Price, News & Analysis

Pioneer Power Solutions (Nasdaq: PPSI) reported a significant increase in backlog, which grew 157% year-over-year to $27.9 million. The company anticipates a 50% growth in revenue for 2022, driven by a 79% increase in E-Bloc sales. Q3 revenue reached $6.3 million, a 10% increase from the previous year, with gross profit up 21% to $861,000. However, operating losses widened to $1.4 million due to increased investments in E-Bloc and e-Boost initiatives. Management remains optimistic about continued demand and growth into 2023.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) will host a conference call on November 14, 2022, at 5:00 p.m. ET to discuss its 2022 third quarter financial results. Interested participants can join by calling 1-866-409-1555 within the U.S. or 1-786-789-4797 internationally, using confirmation code 3332617. A replay of the call will be available until November 21, 2022. The live webcast can be accessed at Pioneer Power's webcast.

Pioneer Power Solutions (Nasdaq: PPSI) announced it will supply two 400 kW propane-powered e-Boost mobile charging systems to Heliox Energy. These systems will enable fast charging of VinFast EVs at the Port of Benicia, California, before delivery to consumers. The systems aim to meet a growing demand for EV charging solutions as manufacturers like VinFast look to overcome existing infrastructure challenges. Pioneer expects delivery of the e-Boost systems by Q1 2023, positioning itself as a key player in the burgeoning EV market.

Pioneer Power Solutions (Nasdaq: PPSI) announced an $8 million purchase order from a major global automaker for its E-Bloc electrical solution, aimed at powering the automaker's new electric vehicle campus. This order enhances Pioneer's project backlog, now exceeding $35 million. The automaker's investment in EV infrastructure is driven by rising demand for electric vehicles. This order is expected to significantly boost Pioneer's revenue in 2023. Delivery of the E-Bloc solution is scheduled for Q3 2023.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced its participation in the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. On September 13 at 11:30 a.m. Eastern, Chairman Nathan Mazurek and CFO Walter Michalec will present an overview of the Company’s operations. Attendees can join both in-person at the Lotte New York Palace Hotel and virtually. Additional details can be found on the event website. Pioneer Power specializes in designing and manufacturing electrical power systems and mobile EV charging solutions.

Pioneer Power Solutions (PPSI) reported a 98% year-over-year increase in backlog to $25 million for Q2 2022, with expectations of 50% year-over-year revenue growth for the full year. The company faced challenges as revenue declined by 24% to $4.3 million, largely due to delays with a major customer. Net loss for Q2 was $2.5 million or $(0.26) per share, impacted by increased overhead and non-cash compensation. Despite setbacks, Pioneer remains optimistic about future growth, especially in the e-Bloc and e-Boost segments.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced a conference call scheduled for August 15, 2022 at 5:00 p.m. ET to discuss its 2022 second quarter financial results. Interested parties can join the call by dialing 1-800-289-0720 within the U.S. or 1-323-701-0160 internationally, using confirmation code 9383194. A replay will be available until August 22, 2022. The call will also be accessible via a live webcast on their website.

Pioneer Power Solutions (PPSI) reported a robust financial performance for Q1 2022, with revenue soaring 72.4% to $6.0 million, the highest since Q4 2019. Gross profit surged over 450% to $875,000, marking a 14.5% gross margin. The company’s backlog increased to $24 million, reflecting strong demand for new e-Bloc and E-BOOST products, particularly after a successful debut at the ACT Expo. Despite a net loss of $788,000, management remains optimistic, projecting a 50% revenue growth for 2022 and positive operating cash flow.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) will hold a conference call on May 16, 2022, at 5:00 p.m. ET, to discuss its 2022 first quarter financial results. Participants can join by calling 1-844-826-3035 in the U.S. or 1-412-317-5195 internationally, using confirmation code 10167319. A replay will be accessible until May 23, 2022. The live call will also be available via webcast at Pioneer Power's webcasting site.