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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 (Nasdaq: PPSI) announced an $8 million purchase order from a major global automaker for its E-Bloc electrical solution, aimed at powering the automaker's new electric vehicle campus. This order enhances Pioneer's project backlog, now exceeding $35 million. The automaker's investment in EV infrastructure is driven by rising demand for electric vehicles. This order is expected to significantly boost Pioneer's revenue in 2023. Delivery of the E-Bloc solution is scheduled for Q3 2023.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced its participation in the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. On September 13 at 11:30 a.m. Eastern, Chairman Nathan Mazurek and CFO Walter Michalec will present an overview of the Company’s operations. Attendees can join both in-person at the Lotte New York Palace Hotel and virtually. Additional details can be found on the event website. Pioneer Power specializes in designing and manufacturing electrical power systems and mobile EV charging solutions.
Pioneer Power Solutions (PPSI) reported a 98% year-over-year increase in backlog to $25 million for Q2 2022, with expectations of 50% year-over-year revenue growth for the full year. The company faced challenges as revenue declined by 24% to $4.3 million, largely due to delays with a major customer. Net loss for Q2 was $2.5 million or $(0.26) per share, impacted by increased overhead and non-cash compensation. Despite setbacks, Pioneer remains optimistic about future growth, especially in the e-Bloc and e-Boost segments.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced a conference call scheduled for August 15, 2022 at 5:00 p.m. ET to discuss its 2022 second quarter financial results. Interested parties can join the call by dialing 1-800-289-0720 within the U.S. or 1-323-701-0160 internationally, using confirmation code 9383194. A replay will be available until August 22, 2022. The call will also be accessible via a live webcast on their website.
Pioneer Power Solutions (PPSI) reported a robust financial performance for Q1 2022, with revenue soaring 72.4% to $6.0 million, the highest since Q4 2019. Gross profit surged over 450% to $875,000, marking a 14.5% gross margin. The company’s backlog increased to $24 million, reflecting strong demand for new e-Bloc and E-BOOST products, particularly after a successful debut at the ACT Expo. Despite a net loss of $788,000, management remains optimistic, projecting a 50% revenue growth for 2022 and positive operating cash flow.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) will hold a conference call on May 16, 2022, at 5:00 p.m. ET, to discuss its 2022 first quarter financial results. Participants can join by calling 1-844-826-3035 in the U.S. or 1-412-317-5195 internationally, using confirmation code 10167319. A replay will be accessible until May 23, 2022. The live call will also be available via webcast at Pioneer Power's webcasting site.
Pioneer Power Solutions (Nasdaq: PPSI) announces that Nathan Mazurek, Chairman and CEO, will present at the Sidoti May Micro Cap Virtual Conference on May 11-12, 2022. The event features a presentation and 1-on-1 investor meetings, scheduled for 1:45 p.m. ET on May 11. Interested parties can register via the provided webcast link. Pioneer Power, a leader in electric power systems and mobile EV charging solutions, caters to utility, industrial, and commercial markets.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced that Chairman and CEO Nathan Mazurek will present at the Taglich Brothers 18th Annual Investment Conference on May 2, 2022, at 9:45 AM ET in New York. The company specializes in the design, manufacture, and service of electrical power systems and mobile EV charging solutions. Interested parties can view the webcast via the provided link. Taglich Brothers is noted for focusing on microcap companies with a market capitalization under $250 million.
Pioneer Power Solutions (PPSI) reported its fourth quarter and full-year results for 2021. Total revenue for Q4 was $3.5 million, down 34.6% year-over-year, attributed to lower sales in the T&D Solutions segment. For the full year, revenue declined 6.0% to $18.3 million, while gross profit increased 58.1% to $1.4 million, reflecting improved cost management. The company's backlog surged to $22.8 million, doubling from the previous quarter. Despite a net loss of $1.4 million in Q4, Pioneer anticipates at least 50% revenue growth in 2022 and expects positive operating cash flow.
Pioneer Power Solutions (Nasdaq: PPSI) received a $120,000 purchase order for two E-BOOST mobile EV charging solutions, marking its second order since the product's launch just five months ago. This comes after a prior order of $788,000 in January 2022. The skid-mounted systems are designed for recharging electric school buses and are portable and powered by green propane. CEO Nathan Mazurek emphasized the growing demand for such solutions in improving EV charging infrastructure.
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