Every 8-K that Power Solutions International, Inc. (PSIX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow PSIX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PSIX filings page.
Power Solutions International, Inc. (PSIX) entered into a $220 million committed revolving credit agreement on September 25, 2026, with a $70 million letter-of-credit sublimit and a September 25, 2029 maturity. PSIX borrowed $35.0 million at closing; part of the proceeds repaid approximately $15.1 million of obligations under its prior facility, which was terminated, and the remainder is available for working capital and general corporate purposes.
The prior facility provided for borrowings of up to $135 million. SOFR borrowings under the new agreement carry Term SOFR plus 1.80% per year, compared with SOFR plus 2.60% under the prior facility. PSIX’s subsidiaries guarantee the obligations, which are secured by substantially all of the company’s and guarantors’ personal property, including subsidiary equity and intellectual property. Quarterly covenants require an interest coverage ratio of at least 3.00 to 1.00 and a leverage ratio no greater than 3.00 to 1.00.
Power Solutions International, Inc. reported second‑quarter 2026 net sales of $152.5 million, down 21% from the prior‑year quarter, and net income of $16.9 million versus $51.2 million, with diluted EPS of $0.73. Gross margin was 27.1% compared with 28.2% a year earlier, but improved about 420 basis points sequentially.
Sales declines were led by the power systems end market due to uneven data‑center order and shipment timing and softer oil and gas demand, with smaller decreases in industrial and transportation. Operating expenses fell, driven mainly by lower selling, general and administrative costs, supporting operating income of $23.9 million.
Cash and cash equivalents were $70.1 million and total debt $72.6 million as of June 30, 2026. Net cash provided by operating activities was $56,594 thousand, enabling a $30.8 million reduction in total debt during the quarter, largely on the revolving credit facility. The January 2026 acquisition of MTL Manufacturing & Equipment contributed positively to net income and expanded in‑house manufacturing capabilities.
Management expects second‑half 2026 sales to exceed first‑half 2026 and be approximately in line with second‑half 2025 as larger Power Systems orders move into production, while emphasizing that results remain sensitive to customer scheduling, supply‑chain factors, continued oil and gas softness and elevated Wisconsin ramp‑up costs. No formal full‑year guidance is provided.
Power Solutions International, Inc. appointed Nan (Richard) Hu, age 52, as Chief Executive Officer effective August 17, 2026. Interim CEO Xun (Kenneth) Li will cease serving as interim chief executive on that date and continue as Chief Financial Officer.
Hu’s employment agreement provides an annual base salary of $658,000, an annual cash bonus targeted at 70% of base salary (up to 140%), long-term cash and phantom stock incentives beginning in 2027, a cash sign-on bonus of $540,500, and a sign-on phantom stock grant valued at $1,129,326. He is eligible for severance of 12 months’ salary, a pro rata bonus, and COBRA subsidies if terminated without Cause or resigning for Good Reason, with enhanced cash severance in a Change in Control scenario.
At the 2026 Annual Meeting, holders of 23,050,450 shares were entitled to vote. Stockholders elected all director nominees, ratified BDO USA, P.C. as auditor, approved named executive officer compensation on an advisory basis, and recommended holding future say-on-pay votes annually, a frequency the Board has adopted.
Power Solutions International, Inc. announced that Constantine “Dino” Xykis resigned as Chief Executive Officer and from all other positions on May 12, 2026. He had served as CEO since April 24, 2023.
Under a Resignation Agreement, Xykis will receive his previously earned 2025 Key Performance Indicator bonus of $945,611.91 and the remaining portion of his 2025 Long-Term Incentive bonus of $312,462.09, both approved by the Board’s Compensation Committee. He will also receive cash settlement for the full deemed exercise of 28,334 vested stock appreciation rights and partial reimbursement of COBRA health premiums for up to twelve months, subject to standard conditions and a general release of claims.
The Board appointed Chief Financial Officer Xun (“Kenneth”) Li as Interim Chief Executive Officer, while he continues as CFO. Li will initially keep his existing CFO compensation, and the Board’s Nominating and Corporate Governance Committee is continuing its search for a permanent CEO.
Power Solutions International, Inc. reported a weaker first quarter of 2026 compared with 2025. Net sales were $128.6 million, down 5% year over year, as lower power systems revenue, especially in oil and gas and uneven data center orders, outweighed growth in industrial and transportation markets.
Net income fell to $7.3 million from $19.1 million, with diluted EPS dropping to $0.32 from $0.83. Gross margin declined to 22.9% from 29.7% due to mix and elevated production costs from capacity ramp-up in Wisconsin, although margins improved sequentially from the fourth quarter of 2025.
Adjusted EBITDA decreased to $13.9 million from $26.1 million. Cash and cash equivalents rose to $45.1 million, and total debt increased to $103.4 million as of March 31, 2026. The company expects second-quarter 2026 revenue to be generally consistent with the first quarter and anticipates stronger sales in the second half, roughly in line with the second half of 2025, driven by larger Power Systems orders, while noting continued softness in oil and gas and ongoing ramp-up costs.
Power Solutions International, Inc. furnished an update from two March 11, 2026 investor calls after an unauthorized X post shared a purported transcript; the company disclaimed that post and provided its own Q&A summary.
Management reported Q4 2025 gross margin of 21.9% due to ramp-up inefficiencies in Wisconsin but expects improvement in 2026, with a long-term focus on opportunities that can support gross margins around 25%. They highlighted strong data center demand for enclosure products, expanding vertically integrated capacity in Wisconsin, including the MTL acquisition and an approximately 850,000 sq ft footprint. The team described steady 2026 growth expectations, continued reliance on Weichai engines, and a new phantom stock plan tied to PSI’s share price with three-year vesting and cash settlement.
Power Solutions International, Inc. approved a new 2026 Phantom Unit Plan to provide cash-based incentives linked to its common stock price. The plan grants cash-settled “Phantom Units,” each representing an unfunded obligation to pay cash equal to the average share price over the 30 trading days before vesting.
Phantom Units are not actual equity, have no voting rights, and do not receive dividends. Awards typically vest in three equal annual installments, with accelerated vesting upon death, disability, or certain change-in-control events. Vested units are paid in a lump-sum cash payment within 60 days after each vesting date and are subject to the company’s clawback policies.
Power Solutions International reported record full-year 2025 results with net sales of $722.4 million, up 52% from 2024, and net income of $114.0 million, up 65%. Diluted earnings per share rose to $4.94 from $3.01, helped by a $38.3 million valuation allowance release that added $1.66 per share.
Fourth-quarter 2025 sales grew 33% to $191.2 million, but quarterly net income fell 31% to $16.1 million as gross margin declined to 21.9% from 29.9% due to production ramp-up inefficiencies in data center product lines and a higher effective tax rate. Full-year operating income increased 34% to $109.7 million, and Adjusted EBITDA rose 41% to $116.3 million.
Cash and cash equivalents were $41.3 million and total debt $96.6 million at December 31, 2025, compared with $55.3 million cash and $120.2 million debt a year earlier. The company completed the acquisition of MTL Manufacturing & Equipment to support vertically integrated capacity for data center markets and expects continued 2026 sales growth with moderate margin improvement.
Power Solutions International, Inc. announced it has acquired MTL Manufacturing & Equipment Inc., a Beloit, Wisconsin-based welding and steel component manufacturer that supplies switchgear subbases, electrical enclosure assemblies and fuel tanks for large power generation products, including data center applications.
PSI acquired 100% of MTL’s outstanding stock using existing cash reserves and by assuming certain equipment-related debt. MTL operates from about 185,000 square feet of manufacturing space and offers full engineering and vertically integrated production with certifications such as UL142, ULC S601 and UL2085.
The acquisition is expected to support PSI’s growth in the data center market by increasing vertical integration, improving supply chain control, and helping reduce lead times, while MTL’s current management team will continue to lead operations.
Power Solutions International (PSIX) furnished an update under Regulation FD. The company issued a press release announcing its third quarter 2025 financial results and providing its 2025 outlook.
The press release is included as Exhibit 99.1. The information is being furnished, not filed under the Exchange Act and is not subject to Section 18 liabilities. PSIX common stock trades on the Nasdaq Stock Market.
Power Solutions International (PSIX) announced board changes effective October 9, 2025. Kui (Kevin) Jiang and Gengsheng Zhang resigned; the company states each resignation “is not based upon any disagreement” with the company.
The Board appointed Xuesen Yang to the Nominating & Governance and Compensation Committees and Zhao Jin to the Strategic Committee, both as designees of Weichai America Corp., PSI’s largest stockholder. Jiwen (James) Zhang was named Chair of the Nominating & Governance Committee, and Courtney Shea joined the Compensation Committee.
Power Solutions International disclosed the hiring of Zhaoying (Dorothy) Du as an executive under an employment agreement effective September 3, 2025. The agreement provides a base structure including a $30,000 sign-on bonus, participation in a Key Performance Indicator plan at 50% of base salary, a Long Term Incentive target at 60% of base salary, and an award of 700 Stock Appreciation Rights vesting in three equal annual installments. Ms. Du is eligible for executive-level equity programs and an $800 monthly vehicle allowance. If terminated without Cause, she is entitled to severance equal to nine months' base pay (or one year if employed 48 months or longer) plus unpaid KPI and LTI awards. The agreement contains one-year post-termination non-compete and non-solicit restrictions.
On 23 Jul 2025 director Kenneth W. Landini resigned from Power Solutions International’s (PSIX) Board and Audit Committee, claiming his non-re-nomination stemmed from insistence on fiduciary compliance and concerns over listing obligations and executive pay. The Board disputes his allegations and will file any response he submits.
At the 24 Jul 2025 Annual Meeting shareholders:
- Elected seven directors; support ratios ran 88-95 % of votes cast, with broker non-votes of 3.49 MM shares.
- Ratified BDO USA, LLP as auditor for FY-2025 (91 % FOR).
- Approved, on an advisory basis, compensation for named executive officers (95 % FOR).
- Approved extending the Amended & Restated 2012 Incentive Compensation Plan expiration from 26 May 2026 to 26 May 2028; the Board executed the amendment on 24 Jul 2025.
No earnings figures, guidance, or transactional activity were reported. Exhibits include the plan amendment (10.1) and Landini resignation letter (17.1).