Welcome to our dedicated page for Power Solutions Intl news (Ticker: PSIX), a resource for investors and traders seeking the latest updates and insights on Power Solutions Intl stock.
Power Solutions International Inc (PSIX) delivers innovative emission-certified power systems for industrial applications worldwide. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, technological advancements, and market positioning.
Access official press releases, financial announcements, and strategic partnership updates in one centralized location. Our curated collection covers critical areas including new product launches, regulatory compliance achievements, OEM collaborations, and operational milestones. Track PSIX's leadership in developing engines for natural gas, propane, and alternative fuel applications across power generation and transportation sectors.
Stay informed about the company's engineering innovations through updates on custom turnkey solutions, emission certification progress, and industrial power system deployments. This resource enables stakeholders to monitor PSIX's responses to evolving environmental standards and energy market demands.
Bookmark this page for convenient access to verified information directly impacting PSIX's market performance and strategic direction. Regular updates ensure you maintain current awareness of this technical leader's role in powering critical industrial operations globally.
Power Solutions International (PSI) has extended its $25 million shareholder loan agreement with Weichai America Corp., its majority stockholder, until May 20, 2025. The loan bears interest at the Secured Overnight Financing Rate (SOFR) plus 4.05% per annum, with a minimum rate of 4.05% if SOFR is negative. The loan is fully drawn and is subordinated to PSI’s existing $50 million senior secured revolving credit facility with Standard Chartered Bank. Additionally, PSI has other outstanding loans with Weichai, including $50 million and $30 million agreements, with current borrowings of $50 million and $19.8 million, respectively.
Power Solutions International (PSIX) reported a strong first quarter in 2024 with net income increasing by 91%, EPS at $0.31, and gross margin at 27.0%. Sales decreased by 18% due to lower sales in the industrial and transportation markets, partially offset by higher sales in the power systems market. Despite challenges, the company achieved profitability, restored positive shareholder equity, and paid down debt. The outlook for 2024 includes a 3% sales increase driven by growth in the power systems market.
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