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American Superconductor Corp - AMSC STOCK NEWS

Welcome to our dedicated page for American Superconductor news (Ticker: AMSC), a resource for investors and traders seeking the latest updates and insights on American Superconductor stock.

American Superconductor Corp (AMSC), listed on NASDAQ under the symbol AMSC, is a pioneering system provider renowned for its innovative solutions that address the global demand for smarter, cleaner energy. Established in 1987 and headquartered near Boston, Massachusetts, AMSC operates in key regions including Asia, Australia, Europe, and North America.

AMSC designs and delivers advanced electronic controls and systems for wind turbines through its Windtec® Solutions, helping manufacturers launch turbines efficiently and cost-effectively. Their Gridtec™ Solutions offer specialized engineering planning services and grid systems aimed at enhancing network reliability, efficiency, and performance. AMSC's reach extends to the maritime sector with its Marinetec™ Solutions, providing ship protection systems and developing propulsion and power management solutions to boost fleet efficiency and safety.

The company's groundbreaking solutions power gigawatts of renewable energy worldwide and are instrumental in improving the reliability of power networks across over a dozen countries. AMSC's recent achievements include securing $34 million in new orders for energy power systems and reporting substantial revenue growth across multiple sectors, including renewables and industrial markets. For fiscal year 2023, AMSC demonstrated strong financial performance with a revenue increase exceeding 37% year-over-year, gross margin expansion, and positive operating cash flow.

AMSC's portfolio includes advanced products like D-VAR®, D-VAR VVO®, and NEPSITM that stabilize power grids by providing voltage control, power factor correction, and reactive compensation. These products are crucial for utilities to manage power quality and expand grid capacity, especially with the increasing integration of renewable energy sources.

The company also recently garnered attention with a significant order from Inox Wind Limited for its 3MW class wind turbine electrical control systems, underscoring its pivotal role in the expanding Indian wind market. AMSC's focus on innovative energy solutions positions it favorably to capitalize on emerging opportunities in both existing and new markets.

AMSC remains committed to its mission of delivering smarter, cleaner, and more efficient energy solutions, driving long-term growth and a sustainable future.

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American Superconductor Corporation (AMSC) has announced the pricing of its underwritten public offering of 5,400,000 shares of its common stock at a public offering price of $11.25 per share, expecting gross proceeds of $60,750,000. The company intends to use the net proceeds for working capital and general corporate purposes.
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American Superconductor Corporation (AMSC) announced an underwritten public offering of its common stock, with an option for underwriters to purchase additional shares. The company intends to use the net proceeds for working capital and general corporate purposes. Oppenheimer & Co. Inc. is the sole book-running manager for the offering. The offering is subject to market conditions, and a shelf registration statement has been filed with the SEC. This press release does not constitute an offer to sell, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale is not permitted.
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AMSC reported strong Q3 financial results with over 60% year-over-year revenue growth to $39 million, a 25% gross margin, and non-GAAP net income of $1.3 million. The company's operating cash flow was $1.3 million, and it achieved $34 million of new orders, ending the quarter with over $137 million in 12-month backlog. The business outlook for the fourth quarter is optimistic, expecting revenues in the range of $36.0 million to $40.0 million, with a net loss not exceeding $3.5 million. The Company expects breakeven to a positive cash generation of $2.0 million and cash, cash equivalents, and restricted cash not less than $25 million by March 31, 2024.
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AMSC, a leading system provider of megawatt-scale power resiliency solutions, is set to release its third quarter fiscal year 2023 financial results on January 24, 2024. The company will also hold a conference call on January 25, 2024, to discuss recent accomplishments, financial results, and business outlook.
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AMSC receives an $8 million order for 3 MW class wind turbine electrical control systems from Inox Wind Limited, indicating a renewed strength and improved dynamics in the Indian wind market. The order underscores AMSC's position as a partner of choice in India's growing energy needs, with the Indian onshore wind market capacity forecasted to add over 80 GW by 2032. Under the exclusive license agreement, AMSC will be the exclusive supplier of ECS for Inox's 3 MW class wind turbine.
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AMSC reported revenues of $34 million for the second quarter of fiscal year 2023, a 23% increase compared to the same period last year. The company achieved a gross margin of 25% and generated $0.9 million of operating cash flow. AMSC's net loss for the quarter was $2.5 million, compared to a net loss of $9.9 million in the same period last year. However, the company reported a non-GAAP net income of less than $0.1 million. AMSC ended the quarter with $24.0 million in cash, cash equivalents, and restricted cash.
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AMSC plans to release its Q2 FY 2023 financial results on November 1, 2023. A conference call with investors and analysts will be held on November 2, 2023, to discuss recent accomplishments, financial results, and business outlook.
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AMSC announces $37 million of new energy power systems orders, driven by demand in industrials, renewables, and utility markets. Revenue from these orders expected to be recognized in fiscal year 2024.
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AMSC reports Q1 2023 financial results with revenues of $30.3 million, a YoY increase driven by higher new energy power systems revenues. Net loss for Q1 2023 was $5.4 million, compared to a net loss of $8.7 million in Q1 2022. AMSC booked over $34 million of new energy power systems orders in Q1 2023. For Q2 2023, the company expects revenues in the range of $29 million to $32 million, with a net loss not exceeding $5.3 million.
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AMSC plans to release its Q1 fiscal year 2023 financial results on August 9, 2023, followed by a conference call with investors and covering analysts on August 10, 2023. The call will discuss market trends, financial results, and business outlook. The live call can be accessed by dialing 1-844-481-2802 or 1-412-317-0675.
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FAQ

What is the current stock price of American Superconductor (AMSC)?

The current stock price of American Superconductor (AMSC) is $31.16 as of November 20, 2024.

What is the market cap of American Superconductor (AMSC)?

The market cap of American Superconductor (AMSC) is approximately 1.2B.

What does American Superconductor Corp (AMSC) specialize in?

AMSC specializes in providing advanced electronic controls and systems for wind turbines, engineering planning services, grid systems, and ship protection systems.

What are AMSC's main solution categories?

AMSC's main solution categories include Windtec® Solutions for wind turbines, Gridtec™ Solutions for grid systems, and Marinetec™ Solutions for maritime applications.

Where is AMSC headquartered?

AMSC is headquartered near Boston, Massachusetts, with operations in Asia, Australia, Europe, and North America.

What recent achievements has AMSC reported?

AMSC reported securing $34 million in new orders for energy power systems, significant revenue growth across sectors, and a strong financial performance for fiscal year 2023.

What products are included in AMSC's portfolio?

AMSC's portfolio includes advanced products like D-VAR®, D-VAR VVO®, and NEPSITM which provide voltage control, power factor correction, and reactive compensation for power grids.

How does AMSC contribute to renewable energy?

AMSC powers gigawatts of renewable energy worldwide through its advanced wind turbine systems and grid solutions, enhancing the reliability and efficiency of power networks.

What is the significance of AMSC's order from Inox Wind Limited?

The $8 million order from Inox Wind Limited for AMSC's 3MW class wind turbine electrical control systems highlights AMSC's pivotal role in the expanding Indian wind market.

What are AMSC's financial highlights for fiscal year 2023?

For fiscal year 2023, AMSC reported a revenue increase of over 37%, gross margin expansion, and positive operating cash flow, indicating strong financial performance and growth.

How does AMSC support the maritime sector?

Through its Marinetec™ Solutions, AMSC provides ship protection systems and develops propulsion and power management solutions to improve fleet efficiency and safety.

What are AMSC's future growth prospects?

AMSC is well-positioned for future growth with a robust backlog, diverse market opportunities, and a commitment to delivering innovative energy solutions for a sustainable future.

American Superconductor Corp

Nasdaq:AMSC

AMSC Rankings

AMSC Stock Data

1.23B
37.72M
4.4%
71.26%
6.95%
Specialty Industrial Machinery
Motors & Generators
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United States of America
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