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.
AMSC has announced $23 million in new energy power systems orders, representing a 50% increase over last year. This growth is attributed to strong bookings driven by markets including renewables, metals and mining, and chemicals. The order encompasses various products such as reactive compensation systems and voltage controllers. AMSC is focused on enhancing grid reliability and capacity, offering solutions to stabilize power grids and manage quality concerns. The company aims to continue diversifying its offerings amid rising demand in the energy sector.
AMSC (NASDAQ: AMSC) will announce its third quarter fiscal year 2021 financial results on February 2, 2022, after market close. A conference call for investors and analysts is scheduled for February 3, 2022, at 10:00 a.m. ET. During the call, management will discuss market trends, recent achievements, financial results, and future outlook. Interested parties can access the call through the company’s website. AMSC specializes in power resiliency solutions for both the grid and the Navy, aiming to enhance energy efficiency and operational safety.
AMSC has successfully delivered its high temperature superconductor (HTS)-based ship protection system for the USS Fort Lauderdale (LPD-28), marking the first of four contracts for the San Antonio class amphibious transport dock ships. This milestone highlights AMSC's innovative technology that significantly reduces system weight and enhances power efficiency compared to traditional copper-cable systems. The company aims to work closely with the U.S. Navy on future installations, further expanding its HTS technology's applications.
AMSC (Nasdaq: AMSC) reported its Q2 fiscal 2021 results, showing a revenue increase to $27.9 million, up from $21.1 million year-over-year, primarily driven by growth in the Grid segment. However, net losses were reported at $4.4 million ($0.16 per share), compared to a loss of $3.7 million ($0.17 per share) in Q2 FY2020. Non-GAAP net losses also worsened to $5.1 million ($0.19 per share). Looking ahead, AMSC expects Q3 revenues between $25 million and $28 million with a projected net loss not to exceed $7.0 million.
AMSC (NASDAQ: AMSC) will announce its second quarter fiscal 2021 financial results after market close on November 8, 2021. Following this, on November 9, AMSC management will host a conference call at 10:00 a.m. ET to discuss financial results, recent accomplishments, and future business outlook. Investors are encouraged to access the call via the Company’s website, and a replay will be available shortly after. AMSC specializes in power resiliency solutions and aims to meet the global demand for smarter, cleaner energy.
AMSC announced $22 million in new energy power systems orders, including reactive compensation solutions, capacitor banks, and transformers. CEO Daniel P. McGahn highlighted strong bookings momentum and expects it to continue into the second half of fiscal 2021, driven by recent acquisitions and organic growth. The company focuses on enhancing power grid stability and expanding grid capacity for renewable energy through solutions like D-VAR and VVO.
AMSC's Resilient Electric Grid (REG) System has been successfully integrated into ComEd's power grid, enhancing reliability and performance. The REG system utilizes AMSC's advanced Amperium® wire to improve grid resilience against failures caused by cyber threats and severe weather.
ComEd, serving over 4 million customers in northern Illinois, will monitor the REG's impact over the next year to consider broader deployment. The project received funding from the Department of Homeland Security, highlighting its importance for national grid security.
AMSC (Nasdaq: AMSC) reported a revenue increase to $25.4 million for Q1 FY2021, up from $21.2 million in Q1 FY2020, driven by strong growth in its Grid segment, particularly from new energy power systems and ship protection systems. However, the company posted a net loss of $5.4 million, or $0.20 per share, compared to a $3.4 million loss, or $0.16 per share, a year earlier. For Q2 FY2021, AMSC anticipates revenues between $24 million and $27 million and a net loss not exceeding $6.7 million, or $0.25 per share.
AMSC has announced new energy power systems orders totaling $21 million, focusing on mining and semiconductor industries. Orders include reactive compensation, harmonic filters, and voltage controllers. CEO Daniel P. McGahn emphasized the potential for revenue growth in fiscal 2021 due to recent acquisitions. The company's solutions aim to stabilize power grids and improve quality, especially for renewable energy. However, there are risks related to operating losses and supply chain vulnerabilities that could affect performance.
AMSC (NASDAQ: AMSC) announced it will release its first quarter fiscal year 2021 financial results after market close on August 4, 2021. A conference call with management will take place on August 5, 2021, at 10:00 a.m. ET, discussing market trends, financial results, and the company's business outlook. Interested parties can access the call via the company's website or by phone. AMSC specializes in power resiliency solutions, serving both the energy grid and the Navy fleet, enhancing efficiency and safety across various applications.
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