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Power Solutions International Inc - PSIX STOCK NEWS

Welcome to our dedicated news page for Power Solutions International (Ticker: PSIX), a resource for investors and traders seeking the latest updates and insights on Power Solutions International.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Power Solutions International's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Power Solutions International's position in the market.

News
Power Solutions International to Feature Products with Baudouin During Middle East Energy Show
Rhea-AI Summary
Power Solutions International, Inc. to showcase its 8.8-liter Power System engine at the Middle East Energy show in Dubai, in collaboration with Baudouin. The event will feature 1,300 global exhibitors displaying energy products and solutions across various sectors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.74%
Tags
none
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News
Power Solutions International’s new website now online
Rhea-AI Summary
Power Solutions International, Inc. (PSIX) unveils a new website, www.psiengines.com, with a modern design and user-friendly navigation, enhancing visitor experience.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.36%
Tags
none
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News
Power Solutions International Announces Extension to Credit Agreement
Rhea-AI Summary
Power Solutions International, Inc. amends its $130 million credit agreement with Standard Chartered Bank, extending the maturity date. The agreement includes no principal payments scheduled, with interest rates tied to SOFR. The company also amends existing shareholder loan agreements with Weichai America Corp, securing funds for repayment of outstanding borrowings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.06%
Tags
none
News
Power Solutions International Approves Use of Hydrotreated Vegetable Oil (HVO) in its Diesel Engine Line
Rhea-AI Summary
Power Solutions International, Inc. announces approval of its diesel engine line for Hydrotreated Vegetable Oil (HVO) use, offering sustainable fuel options. HVO is a renewable alternative to traditional diesel, reducing carbon footprint. PSI's diesel engines are EPA certified for various industries, providing reliable performance and power density.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.45%
Tags
none
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News
Power Solutions International Announces Fourth Quarter and Full Year 2023 Financial Results
Rhea-AI Summary
Power Solutions International, Inc. (PSI) reported a net income of $8.4 million and EPS of $0.36 for the fourth quarter of 2023, with full-year net income of $26.3 million, an increase of 133%, and EPS of $1.15. Operating cash flows for the full year were $70.5 million, showing an increase of $79.4 million. Debt decreased by $65.8 million year-to-date. Sales for the fourth quarter were $104.8 million, a decrease of $32.3 million from the previous year. The decrease was mainly due to lower sales in industrial and transportation end markets, partially offset by an increase in power systems end market. Gross profit decreased by $1.9 million, but gross margin increased to 26.3%. Adjusted net income was $7.5 million, with adjusted EPS of $0.34. Debt stood at approximately $145.2 million at the end of 2023, with cash and cash equivalents of $22.8 million. The company expects a 3% increase in sales for 2024, driven by growth in the power systems end market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.89%
Tags
earnings
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News
Power Solutions International Appoints Randall Lehner as General Counsel
Rhea-AI Summary
Power Solutions International, Inc. appointed Randall D. Lehner as its General Counsel, bringing over 20 years of legal experience in complex commercial litigation, regulatory compliance, and internal controls. Lehner's previous roles include serving as associate general counsel for Guaranteed Rate, LLC, and as a partner at Kelly, Drye & Warren, LLP. He holds a Juris Doctor degree from Duke University and a Bachelor of Arts degree in political science from the University of Michigan.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.94%
Tags
management
News
Power Solutions International (PSI) engines featured at World Ag Show
Rhea-AI Summary
Power Solutions International, Inc. (PSIX) to showcase engines at World Ag Show in Tulare, Calif. Husker Power Products and Amarillo Wind Machines to feature PSI engines during the event.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.03%
Tags
none
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News
Power Solutions International (PSI) Showcases Engines at PowerGen Trade Show
Rhea-AI Summary
Power Solutions International, Inc. (PSIX) will be exhibiting at PowerGen International in New Orleans to showcase its emission-certified engines and power systems. The event will take place from January 23 to January 25, 2024, and will bring together industry professionals to explore the latest advancements in power generation technologies.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10%
Tags
none
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News
Power Solutions International Announces Extension to $50 Million Shareholder Loan Agreement With Weichai America
Rhea-AI Summary
Power Solutions International, Inc. (PSI) (OTC Pink: PSIX) has amended and restated its $50 million shareholder’s loan agreement with its majority stockholder, Weichai America Corp., extending the loan maturity date to November 30, 2024. The loan is subordinated to the Company’s existing $130 million senior secured revolving credit facility with Standard Chartered Bank. Borrowings will incur interest at the applicable Secured Overnight Financing Rate (SOFR), plus 4.05% per annum.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.43%
Tags
none
News
Power Solutions International Unveils Lithium-ion Power Unit
Rhea-AI Summary
Power Solutions International, Inc. (PSI) announces the launch of the 30kw Lithium-ion Power Unit, designed to cater to the electrification efforts of strategic partners. The unit offers zero emissions and is a complete heavy-duty electric powertrain for equipment traditionally using engines ranging from 2.0-liters to 4.3-liters. Morbark, a leading manufacturer of tree care equipment, will showcase the unit at TCI Expo 2023, highlighting the collaboration between PSI and Morbark in providing alternative power solutions for the industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.62%
Tags
none
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Power Solutions International Inc

OTC:PSIX

PSIX Rankings

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PSIX Stock Data

50.99M
4.96M
60.02%
12.33%
14.46%
Motor and Generator Manufacturing
Manufacturing
Link
US
Wood Dale

About PSIX

psi designs, engineers & manufactures emission-certified, alternatively-fueled engines & power systems power solutions international, inc. (psix) provides integrated turn-key engine and power solutions to leading global original equipment manufacturers in the industrial, off- and on-road markets. our unique in-house design, prototyping, engineering and testing capacities mean we can customize clean, high-performance engines that run on a wide variety of fuels including natural gas, propane, biogas, gasoline, or hybrid systems to meet and exceed applicable environmental standards.