Pioneer Pwr Solutions Inc Stock Price, News & Analysis

Pioneer Power Solutions, Inc. (PPSI) will host a conference call on November 16, 2021, at 4:30 p.m. ET to discuss its Q3 2021 financial results with investors. Interested participants can dial 1-800-289-0438 (US) or 1-323-794-2423 (International) using confirmation code 9337111. A recording of the call will be available until November 23, 2021. The company specializes in distributed generation and EV charging infrastructure and offers a variety of electrical distribution and power generation equipment.

Pioneer Power Solutions (Nasdaq: PPSI) announced on Oct. 28, 2021, that it received over $1 million in orders for its E-Bloc distributed generation solutions in just 14 days. The company expects to deliver these orders in Q4 2021. CEO Nathan Mazurek stated that these new orders from various sectors indicate growing traction for E-Bloc, with applications in grocery distribution, senior living, and water treatment facilities. Pioneer anticipates increased demand for E-Bloc as businesses invest more in alternative energy solutions, paving the way for potential growth in 2022.

Pioneer Power Solutions (NASDAQ: PPSI) announced a significant one-time order valued at $500,000 for its E-Bloc integrated power center. This product will be utilized in the SoCalGas H2 Hydrogen Home, a state-of-the-art demonstration project in California showcasing the potential of hydrogen energy. The E-Bloc system will manage various distributed energy resources, creating a microgrid for the prototype home. The delivery is expected in Q4 2021, positioning Pioneer Power as a vital player in California's carbon neutrality goals.

Pioneer Power Solutions (Nasdaq: PPSI) has declared a one-time special cash dividend of $0.12 per common share, payable on July 7, 2021, to shareholders of record by June 22, 2021. This dividend totals slightly over $1 million and will be funded through surplus cash from the company's balance sheet. The payout indicates a commitment to returning value to shareholders while maintaining financial stability.

Pioneer Power Solutions has expanded its agreement with CleanSpark to utilize proprietary software for the new PowerBloc, designed for EV charging infrastructure. This innovation aligns with market demands for customizable power solutions. Additionally, the Board declared a special cash dividend of $0.12 per share, amounting to over $1 million in distributions. The developments signal a strategic shift towards the growing EV market.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced a $1.1 million order for a custom power generation system from a major retailer, expanding its footprint. This order, facilitated through CleanSpark, Inc. (Nasdaq: CLSK), includes Automatic Transfer Switches and is expected to be delivered by year-end 2021. The company reported a 34% increase in its T&D Solutions backlog, rising from $7.6 million to $10.2 million year-over-year. CEO Nathan Mazurek expressed optimism for record sales in 2021 and highlights the expanding market for distributed generation among retailers.

Pioneer Power Solutions (Nasdaq: PPSI) announced a $1.4 million order for distributed generation equipment from CleanSpark, Inc. (Nasdaq: CLSK), a channel partner. This order expands their collaboration with one of the largest mass-market retailers, following a successful pilot program initiated in 2019. The equipment includes Automatic Transfer Switches and specialty controls, expected to be shipped by Q3 2021. This order enhances Pioneer Power's backlog, which stood at $11.3 million as of September 30, 2020, indicating a positive outlook for 2021.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) has expanded its service contract with a major U.S. home improvement retailer, increasing its scope by 30%. This contract entails scheduled generator maintenance and emergency repairs, set to commence in March 2021. Nathan Mazurek, CEO, emphasized the positive impact seen by the retailer since the initial contract, highlighting potential further expansion opportunities. This growth enhances Pioneer’s revenue outlook and backlog for the year.

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced the awarding of a service contract for preventative maintenance and emergency repairs from a leading U.S. home improvement retailer. The contract involves servicing generator equipment at 24 store locations starting January 1, 2021. Nathan Mazurek, CEO, emphasized the company's reputation for quality service as a decisive factor in securing the contract. The company specializes in manufacturing and maintaining electrical transmission and generation equipment.