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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, a leader in electrical power systems, will present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 5:30 PM ET (2:30 PM PT). Nathan Mazurek, CEO, will lead the presentation. Interested parties can access the live webcast here. For those wishing to engage in 1x1 meetings with the company, registration is required at the conference's site. Meetings will occur in person at the Las Vegas venue. If unable to attend live, recorded presentations will be accessible through the conference's agenda tab. Pioneer specializes in power generation and mobile electric vehicle charging solutions across various markets. To learn more, visit Pioneer’s website.
Pioneer Power Solutions (Nasdaq: PPSI) announced a significant contract with a major northeastern transportation agency for the long-term rental of a 75KW e-Boost Mobile unit. This mobile charging solution, which includes fast-charging and Level 2 chargers, was deployed in Q1 2023 to charge multiple EV shuttle buses and vehicles at various facilities. The e-Boost system presents a new revenue stream for Pioneer, allowing customers to charge EVs without investing in fixed infrastructure. The company anticipates increased adoption and follow-on orders due to the success of initial deployments.
Pioneer Power Solutions (Nasdaq: PPSI) reported strong financial performance for 2022, with full-year revenue increasing 48% to $27.0 million. The fourth quarter saw revenues surge 172% year-over-year, reaching $9.5 million. The company's backlog increased 63% from the previous year to a record $37.2 million. Despite a full-year net loss of $3.6 million, Pioneer achieved a fourth-quarter net income of $948,000 or $0.10 per share. Management expects revenue growth of at least 50% in 2023, predicting total revenues between $42 and $45 million, and anticipates positive earnings per share for the year.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) will participate in the Electric Vehicle & Auto Tech Virtual Conference on March 30, 2023, at 8:00 a.m. ET. President and CEO Geo Murickan will discuss trends in EV charging, focusing on the success of the e-Boost platform, which offers mobile, high-speed EV charging. The conference will cover topics such as innovations in EV charging and building a new EV supply chain. Analysts and industry leaders will explore opportunities from ongoing EV adoption and advancements in battery technology. Participation is available via M-Vest membership.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) will host a conference call on March 30, 2023, at 5:00 p.m. ET to discuss its 2022 fourth quarter and year-end financial results. Interested participants can join by calling 1-877-423-9813 (U.S.) or 1-201-689-8573 (internationally). A replay will be available until April 6, 2023, via 1-844-512-2921 (U.S.) or 1-412-317-6671 (international). The call will also be available via a live webcast accessible at the official site.
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