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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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AMSC (NASDAQ: AMSC) will announce its second quarter fiscal year 2020 financial results on November 4, 2020, post-market close. Following this, management will host a conference call on November 5, 2020, at 10:00 a.m. ET to discuss market trends, recent accomplishments, financial results, and business outlook. Investors can access the call via the AMSC website or by phone. AMSC specializes in power resiliency solutions for the grid and naval fleets, aiming for enhanced operational efficiency and reliability.

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American Superconductor Corporation (Nasdaq: AMSC) has announced a public offering of 3,670,000 shares of common stock priced at $15.00 per share, with expected gross proceeds of $55,050,000. The funds will support general corporate and working capital needs. An option for underwriters to purchase an additional 550,500 shares is included. The offering is set to close around October 26, 2020, subject to standard conditions. Oppenheimer & Co. Inc. is the lead manager, with Craig-Hallum and Roth Capital acting as co-managers.

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American Superconductor Corporation (Nasdaq: AMSC) announced plans for an underwritten public offering of its common stock, including a 30-day option for underwriters to purchase additional shares. Proceeds are intended for general corporate purposes. The offering's size and terms are subject to market conditions. Oppenheimer & Co. Inc. is the book-running manager. A registration statement for the shares is effective with the SEC, with details to be provided in a preliminary prospectus supplement. The completion of the offering is uncertain and contingent on various market factors.

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AMSC has acquired Northeast Power Systems, Inc. (NEPSI) for $26 million in cash and equity, aiming to enhance its industrial product offerings and achieve profitability independent of its wind business. NEPSI, with annual revenues of approximately $25 million and 20% operating margins, strengthens AMSC's position in the static voltage management market. AMSC anticipates its revenues for Q2 2020 to be between $20.5 million and $21.5 million, an improvement from prior guidance, and expects positive operating cash flow for Q3 2020. The company projects Q3 revenues between $22 million and $25 million, including NEPSI's contributions.

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AMSC reported its fiscal Q1 2020 results, revealing revenues of $21.2 million, a significant increase from $13.8 million in Q1 2019 due to a near 80% growth in Grid segment revenues, attributed to enhanced D-VAR shipments. The company incurred a net loss of $3.4 million, equivalent to $0.16 per share, slightly improved from a net loss of $3.5 million or $0.17 per share in the previous year. Cash and equivalents stood at $62.2 million as of June 30, 2020. For Q2, AMSC anticipates revenues between $17 million to $21 million and a projected net loss not exceeding $6.5 million.

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AMSC (NASDAQ: AMSC) will announce its Q1 fiscal 2020 financial results after market close on August 5, 2020. A conference call for investors and analysts will follow on August 6, 2020, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and future outlook. Interested parties can access the call via the company’s website or by phone. AMSC specializes in megawatt-scale power resiliency solutions with applications in grid technology and naval fleet protection.

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AMSC (NASDAQ: AMSC) has entered into a delivery contract with Huntington Ingalls Industries for a high temperature superconducting (HTS)-based ship protection system, set to be integrated into the LPD 31, a San Antonio-class amphibious transport dock ship. This advanced system will enhance mine protection for the U.S. Navy, cutting the degaussing system's weight by 90% and halving energy consumption compared to traditional systems. The contract supports the ongoing development of next-generation warships intended for diverse military operations through the 21st century.

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AMSC (NASDAQ: AMSC) announced the commencement of construction on a Resilient Electric Grid (REG) system by Commonwealth Edison Company (ComEd), part of Exelon Corporation. This project aims to enhance Chicago's electric grid resilience against extreme weather and other disruptions. The collaboration follows a contract under the U.S. Department of Homeland Security initiative. Key components like AMSC's Amperium® wire will help improve grid reliability. The REG system is expected to be operational by 2021, with potential for future projects in the downtown area.

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AMSC (Nasdaq: AMSC) reported financial results for the fourth quarter and full fiscal year 2019, ending March 31, 2020. Q4 revenues increased to $18.1 million from $14.6 million year-over-year, driven by higher Grid segment sales. The company's net loss narrowed to $5.9 million ($0.27 per share) from $8.4 million ($0.41 per share) a year earlier. For the fiscal year, revenues grew to $63.8 million from $56.2 million. However, AMSC reported a net loss of $17.1 million compared to a net income of $26.8 million in FY 2018. The company expects Q1 2020 revenues between $18 million and $20 million.

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AMSC (Nasdaq: AMSC) reported its financial results for Q4 and full fiscal year 2019, showcasing a revenue increase to $18.1 million in Q4, up from $14.6 million in Q4 2018, primarily driven by its Grid segment. However, the company recorded a Q4 net loss of $5.9 million, an improvement from a $8.4 million loss the previous year. Total fiscal year 2019 revenues rose to $63.8 million, yet the net loss was $17.1 million, a drop from a $26.8 million net income in FY 2018. The company expects Q1 2020 revenues between $18 million and $20 million with a projected net loss of up to $6.2 million.

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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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