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AMSC Q2 revenue jumps over 40% on organic growth, Comtrafo acquisition

By Reuters News


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


Reuters Recommended Reads

  • Nov 4 - Shoals Technologies Q3 revenue beats on strong demand, higher project volumes

  • Nov 4 - Array Technologies beats Q3 revenue estimates; to merge with Shoals Technologies

  • Nov 3 - Navitas Semiconductor Q3 revenue beats estimates on rising demand from AI data centers and grid infrastructure


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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