Welcome to our dedicated page for Pioneer Power Solutions news (Ticker: PPSI), a resource for investors and traders seeking the latest updates and insights on Pioneer Power Solutions stock.
Pioneer Power Solutions, Inc. (symbol: PPSI) is a distinguished leader in the design and manufacture of specialized electrical equipment, serving a vast array of markets across North America. With a history spanning over 95 years, the company has built a stellar reputation for innovation, quality, and reliability. Pioneer Power's product portfolio is extensive, featuring a diverse range of liquid-filled and dry-type power, distribution, and specialty electrical transformers designed to meet the needs of the utility, industrial, commercial, OEM, and critical power sectors.
In addition to transformers, the company has expanded its capabilities to include advanced switchgear and controls, ensuring seamless protection against power outages and efficient management of electricity generation and distribution. This strategic enhancement allows Pioneer Power to offer comprehensive solutions that align with the evolving demands of the power grid and critical infrastructure.
Operating through two primary segments - Transmission and Distribution Solutions (T&D Solutions) and Critical Power Solutions (Critical Power) - Pioneer Power Solutions provides a wide range of products and services. These include custom-engineered electrical transformers, switchgear, engine-generator sets, and controls. The company also offers a national field-service network dedicated to maintaining and repairing power generation assets, ensuring the longevity and optimal performance of its products.
The company's commitment to excellence is reflected in its adherence to stringent design technology standards, superior product quality, and durability. Pioneer Power's steadfast dedication to on-time delivery further underscores its role as a reliable partner in a dynamic and rapidly changing marketplace.
Pioneer Power generates the majority of its revenue from the United States, demonstrating a strong domestic presence. Recent achievements highlight the company's innovative approach to product development and its ability to adapt to market changes, solidifying its position as a key player in the electrical equipment industry.
Pioneer Power Solutions (PPSI) has launched a pilot program with a Fortune 100 e-commerce retailer to address EV charging challenges at Last Mile Delivery depots. The program involves providing multiple e-Boost mobile charging units for a monthly fee, including service and monitoring.
The pilot deploys Pioneer's e-Boost Mobile Max at a Midwest depot, offering 240kW Level 3 charging for heavy-duty trucks and Level 2 charging for delivery vans. The retailer aims to gather data to evaluate deploying e-Boost solutions across its major metro locations. The initiative focuses on solving the 'grid gap' between increasing power needs for electric delivery fleets and grid supply.
Pioneer Power Solutions (NASDAQ: PPSI) reported Q3 2024 results, highlighting a 130% revenue growth in its Critical Power segment to $6.4 million. The company sold its PCEP business unit for $50 million and declared a special dividend of $1.50 per share. The Critical Power segment achieved a gross margin of 24% and operating income of $211,000. Backlog increased 200% to $24.0 million. Overall consolidated revenue decreased 4.7% to $10.9 million, with a net loss of $1.1 million. The company projects 2025 revenue between $27-29 million, representing approximately 25% growth.
Pioneer Power Solutions (Nasdaq: PPSI), a leader in distributed energy resources and mobile EV charging solutions, has scheduled its 2024 third quarter financial results conference call for November 18, 2024, at 4:30 p.m. ET. The company will release its Q3 2024 results on November 14, 2024, after market close. The conference call will be accessible via phone and webcast, with replay available until December 2, 2024.
Pioneer Power Solutions (PPSI) has sold its Pioneer Custom Electrical Products (PCEP) business unit to Mill Point Capital for $50 million in cash and equity, including the assumption of certain liabilities. The deal comprises $48 million in cash and $2 million in equity. Mill Point is combining PCEP with Jefferson Electric to form Voltaris Power , a new electrical power solutions platform. Pioneer will retain a minority equity stake in Voltaris and contribute 4% of its equity in Pioneer Investment This divestiture aligns with Pioneer's 2022 strategic transformation, focusing the company on its Critical Power and eMobility business.
Pioneer Power Solutions (Nasdaq: PPSI) has filed its Q2 2024 quarterly report and reaffirmed its full-year 2024 guidance. The company's backlog surged 46% to $67 million, indicating strong demand for its E-Bloc and e-Boost power solutions. Pioneer expects significant growth in revenue and EPS in the second half of 2024.
Key highlights include:
- Full-year 2024 guidance: $52-$54 million revenue (30% YoY growth) and $0.31-$0.34 EPS
- $5 million order for mobile e-Boost charging solution from a major U.S. municipality
- $7 million order for mobile e-Boost charging solution from a large metro school district
- $3+ million substation order from a major utility
- $2 million E-Bloc power solution order for a military distributed generation system
- $1 million E-Bloc power solution order from a California truck charging depot
The company is now current with all SEC filings to date.
Pioneer Power Solutions (Nasdaq: PPSI) has filed its Q1 2024 10-Q report and reaffirmed its full-year 2024 guidance. The company expects $52 to $54 million in revenue (30% YoY growth) and $0.31 to $0.34 in EPS. Pioneer's Q1 2024 order backlog stood at $45.9 million, with most deliveries expected within 12 months. Recent highlights include:
- $5+ million order for e-Boost mobile EV charging solutions from a major U.S. metro transit authority
- $7.1 million order for 25 e-Boost Mobile units from a large U.S. school district
- $7.2 million in orders for E-Bloc products
- Collaboration with SparkCharge to promote mobile EV charging adoption
The company anticipates filing its Q2 2024 10-Q and hosting an investor call to discuss H1 2024 results in the coming weeks.
Pioneer Power Solutions (Nasdaq: PPSI) has received a delinquency notification from Nasdaq due to its failure to timely file its Q2 2024 10-Q report and continued delay in filing its Q1 2024 10-Q report. This non-compliance with Nasdaq Listing Rule 5250(c)(1) does not immediately affect the company's listing on the Nasdaq Capital Market. Pioneer has until September 5, 2024, to update its compliance plan, which Nasdaq may accept and grant an extension until October 14, 2024, to file the required reports. The company previously submitted a plan and received an exception until September 20, 2024, to file the quarterly reports.
Pioneer Power Solutions (Nasdaq: PPSI) has announced a strategic partnership with SparkCharge to integrate Pioneer's e-Boost mobile EV charging solution with SparkCharge's battery energy storage systems. The collaboration aims to drive widespread adoption of mobile EV charging and accelerate technological advancements in the industry. Key points include:
- Pioneer will deliver up to 12 e-Boost rental units over the next 12 months, starting Q4 2024
- Pioneer will receive a per kilowatt hour usage fee and monthly rental fee
- The companies will develop new innovative units combining e-Boost's on-site generating capabilities with SparkCharge's zero-emission technology
- They plan to market their platforms together for large fleet customers
- The partnership is expected to introduce a first-of-its-kind, mobile Distributed Energy Resource (mDER)
The collaboration will be showcased at the GWRCCC Conference & Expo on October 6, 2024, in Greenbelt, Maryland.
Pioneer Power Solutions (Nasdaq: PPSI) filed its delayed annual report on Form 10-K for 2023, revealing significant financial improvements. Revenue increased 60.3% to $41.5 million, while gross profit surged 196% to $8.4 million. The company narrowed its operating loss to $2.7 million from $5.8 million in 2022. Total backlog grew 18% to $45.2 million by year-end. Pioneer also addressed a restatement of previous financial statements, emphasizing no impact on cash or total cash flow from operations. Looking ahead, the company reaffirmed its 2024 guidance, projecting revenue of $52-54 million (30% YoY growth) and EPS of $0.31-0.34, with an exceptionally strong second half expected.
Pioneer Power Solutions announced new E-Bloc orders totaling $7.2 million in June, targeting infrastructure markets such as airports, military installations, and EV charging. Key orders include a $725,000 contract for JFK International Airport from a major solar developer, a $3.4 million order for a Southern California utility to support future EV demand, a $1.9 million order for a U.S. military installation, and a $1.2 million order for an electric truck charging depot. The bulk of deliveries are expected in early 2025. The E-Bloc product line integrates circuit protection, controls, and power management in a compact system, and has over 1,500 site deployments since its 2021 launch.
FAQ
What is the current stock price of Pioneer Power Solutions (PPSI)?
What is the market cap of Pioneer Power Solutions (PPSI)?
What does Pioneer Power Solutions, Inc. specialize in?
What are the main product offerings of Pioneer Power Solutions?
Which markets does Pioneer Power Solutions serve?
How long has Pioneer Power Solutions been in operation?
What are the two primary business segments of Pioneer Power Solutions?
Where does Pioneer Power Solutions generate most of its revenue?
Does Pioneer Power Solutions offer services in addition to manufacturing products?
What recent capabilities has Pioneer Power Solutions added?
What distinguishes Pioneer Power Solutions in the marketplace?
What are some recent achievements of Pioneer Power Solutions?
