AMSC Q2 revenue jumps over 40% on organic growth, Comtrafo acquisition
Overview
US power controls provider's fiscal Q2 revenue rose over 40%, beating analyst expectations
Non-GAAP net income for fiscal Q2 was stable yr/yr at $0.20 per share
Company reported total orders above $95 mln and operating cash flow more than quadrupled
Outlook
AMSC expects Q3 revenue to exceed $80 mln
Company expects Q3 net income to exceed breakeven, or $0.00 per share
AMSC expects Q3 non-GAAP net income to exceed $7 mln, or $0.15 per share
Result Drivers
ORGANIC GROWTH AND ACQUISITION - Co said revenue growth was driven by organic growth and the acquisition of Comtrafo
ENERGY MARKET DEMAND - Orders above $95 mln were primarily driven by traditional and renewable energy as well as demand from materials and utility customers
ACCELERATED PROJECT DELIVERIES - Co said revenue reflected continued customer-requested accelerations in project deliveries
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $94.04 mln | $87.46 mln (5 Analysts) |
Q2 Net Income | $3 mln | ||
Q2 Operating Expenses | $21.17 mln | ||
Q2 Operating Income | $5.36 mln | ||
Q2 Pretax Profit | $6.39 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for American Superconductor Corp is $60.00, about 116.8% above its November 3 closing price of $27.68
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 23 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)