Power Solutions Intl Inc Stock Price, News & Analysis

Power Solutions International, Inc. (PSI) announced a new $50 million shareholder's loan agreement with Weichai America Corp. on December 10, 2021, to boost working capital. This loan is subordinated to a $130 million credit facility and will incur interest at LIBOR plus 4.5%. PSI has borrowed $25 million under this agreement as of December 16, 2021. CEO Lance Arnett expressed confidence in the company's liquidity and collaboration with Weichai. Historically, PSI has engaged in multiple loan agreements with Weichai, supporting its operational needs.

Power Solutions International (PSIX) has received non-road certification for its 8.8-liter propane engine from the EPA and CARB. This certification enables the engine's use in mobile, non-road applications, facilitating its quicker market entry. The engine features a near-zero NOx emissions level, producing 265 horsepower with 553 lb-ft of torque. It is aimed at applications like terminal tractors and other non-road vehicles, enhancing PSI's portfolio of clean power solutions.

Power Solutions International, Inc. (PSIX) reported a net loss of $7.2 million for Q3 2021, compared to a loss of $1.5 million in Q3 2020. Sales rose by 3% to $117.6 million, driven by a $10.7 million increase in the industrial sector, offset by declines in the transportation and energy markets. The gross profit decreased by $6.8 million, resulting in a gross margin of 9.6%. The company’s total debt is around $156 million with a cash balance of approximately $5 million. PSIX anticipates improved Q4 sales and gross profit despite ongoing supply chain issues and inflationary costs.

Power Solutions International (PSIX) announced participation in the Advanced Clean Transportation (ACT) Expo held from August 31 to September 1, 2021, in Long Beach, CA. The company will showcase an 8.8-liter LPG engine and fuel system developed in collaboration with Hexagon Agility.

Under a recent development agreement, Hexagon Agility will exclusively supply LPG fuel systems for PSI's engines targeting medium-duty vehicle manufacturers. The expo highlights advancements in sustainable transportation technologies, attracting leading OEMs and suppliers.

Power Solutions International (PSI) has announced a partnership with Hexagon Agility to enhance their capabilities in developing low-emission vehicle solutions. This master development and collaboration agreement focuses on integrating PSI's engine manufacturing expertise with Hexagon Agility's CNG and LPG fuel systems for medium-duty vehicles. The partnership aims to respond to the growing demand for clean energy solutions driven by stringent greenhouse gas regulations. Both companies will collaborate on developing and supplying engines and fuel systems while also offering support for service and parts in the field.

Power Solutions International (PSIX) reported a 20% increase in Q2 2021 sales to $111.5 million, driven by growth in transportation and industrial markets, despite a $5 million dip in energy sales. Gross profit rose to $9.4 million with an improved gross margin of 11.8%. However, the company recorded a net loss of $15.6 million, a slight improvement from last year. Total debt stands at $131 million, with covenant breaches noted for its credit agreement. PSI anticipates further 20% sales growth in 2021, attributing expected boosts from energy and industrial markets in the latter half.

Power Solutions International, Inc. (PSIX) announced a new loan agreement with its majority stockholder, Weichai America Corp., providing up to $25 million in credit. The loan, dated July 14, 2021, will incur interest at LIBOR + 4.50% and matures on May 20, 2022. As of July 15, 2021, PSIX has borrowed $15 million under this agreement. The CEO expressed appreciation for Weichai's support to enhance liquidity and operational needs, while the chairman emphasized the strategic partnership's importance.

Power Solutions International (OTC Pink: PSIX) reported a Q1 2021 net loss of $18.2 million, or $0.79 per share, compared to a loss of $0.7 million in Q1 2020. Sales fell by 5% to $100.2 million, driven by decreases in the energy and industrial markets, partially offset by a $22.8 million increase in transportation sales. Gross profit dropped 60% to $10.7 million, with a gross margin of 7.1%. Operating expenses rose by 6%, mainly due to legal costs. Despite these challenges, the company projects sales growth of at least 15% in 2021, driven by improved economic conditions.

Power Solutions International (PSIX) announced its 2020 financial results, revealing a net loss of $23 million compared to a profit of $8.2 million in 2019. Fourth quarter sales hit $105 million, down 31% year-over-year, affected by reduced demand due to the COVID-19 pandemic. Gross profit also decreased by 37%, and adjusted EBITDA fell to $4.7 million. Despite this, the company forecasts a sales increase of at least 15% in 2021, citing expected growth across all markets. Management acknowledged uncertainties due to ongoing pandemic conditions.