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Pioneer Files Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2024; Reiterates Full Year 2024 Guidance

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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) ha presentato il suo rapporto trimestrale Q2 2024 e ha confermato le previsioni per l'intero anno 2024. Il portafoglio ordini è aumentato del 46% a 67 milioni di dollari, indicando una forte domanda per le sue soluzioni energetiche E-Bloc ed e-Boost. Pioneer prevede una crescita significativa del fatturato e dell'EPS nella seconda metà del 2024.

Tra i principali punti salienti ci sono:

  • Previsioni per l'intero anno 2024: fatturato di 52-54 milioni di dollari (crescita del 30% anno su anno) ed EPS di 0,31-0,34 dollari
  • Ordine da 5 milioni di dollari per una soluzione di ricarica mobile e-Boost da una grande municipalità degli Stati Uniti
  • Ordine da 7 milioni di dollari per una soluzione di ricarica mobile e-Boost da un grande distretto scolastico metropolitano
  • Ordine da oltre 3 milioni di dollari per una sottostazione da un grande servizio pubblico
  • Ordine da 2 milioni di dollari per una soluzione energetica E-Bloc per un sistema di generazione distribuita militare
  • Ordine da 1 milione di dollari per una soluzione energetica E-Bloc da un deposito di ricarica per camion in California

L'azienda è ora in regola con tutte le dichiarazioni SEC fino ad oggi.

Pioneer Power Solutions (Nasdaq: PPSI) ha presentado su informe trimestral Q2 2024 y ha reafirmado su guía para todo el año 2024. El contrato pendiente se disparó un 46% a 67 millones de dólares, lo que indica una fuerte demanda de sus soluciones de energía E-Bloc y e-Boost. Pioneer espera un crecimiento significativo en ingresos y EPS en la segunda mitad de 2024.

Los aspectos destacados incluyen:

  • Guía para todo el año 2024: ingresos de 52-54 millones de dólares (crecimiento del 30% interanual) y EPS de 0,31-0,34 dólares
  • Pedido de 5 millones de dólares para una solución de carga móvil e-Boost de un importante municipio de EE. UU.
  • Pedido de 7 millones de dólares para una solución de carga móvil e-Boost de un gran distrito escolar metropolitano
  • Pedido de más de 3 millones de dólares para una subestación de un gran servicio público
  • Pedido de 2 millones de dólares para una solución energética E-Bloc para un sistema de generación distribuida militar
  • Pedido de 1 millón de dólares para una solución energética E-Bloc de un depósito de carga de camiones en California

La empresa está ahora al día con todas las presentaciones ante la SEC hasta la fecha.

파이오니어 파워 솔루션즈(Nasdaq: PPSI)는 Q2 2024 분기 보고서를 제출하고 2024 전체 연도 가이드를 재확인했습니다. 회사의 백로그가 46% 증가하여 6,700만 달러에 도달했습니다, 이는 E-Bloc 및 e-Boost 전력 솔루션에 대한 강한 수요를 나타냅니다. 파이오니어는 2024년 하반기에 수익과 EPS의 상당한 성장을 기대하고 있습니다.

주요 하이라이트는 다음과 같습니다:

  • 2024 전체 연도 가이드: 수익 5,200만-5,400만 달러(전년 대비 30% 성장) 및 EPS 0.31-0.34 달러
  • 미국의 한 주요 지방자치단체로부터 모바일 e-Boost 충전 솔루션에 대한 500만 달러 주문
  • 대규모 도시 교육구로부터 모바일 e-Boost 충전 솔루션에 대한 700만 달러 주문
  • 대형 유틸리티로부터의 300만 달러 이상의 변전소 주문
  • 군용 분산 발전 시스템을 위한 E-Bloc 전력 솔루션 주문 200만 달러
  • 캘리포니아의 트럭 충전 시설로부터의 E-Bloc 전력 솔루션 주문 100만 달러

회사는 현재까지 모든 SEC 제출서류를 최신 상태로 유지하고 있습니다.

Pioneer Power Solutions (Nasdaq: PPSI) a soumis son rapport trimestriel Q2 2024 et a réaffirmé ses prévisions pour l'année entière 2024. Le carnet de commandes a enregistré une hausse de 46% à 67 millions de dollars, indiquant une forte demande pour ses solutions énergétiques E-Bloc et e-Boost. Pioneer s'attend à une croissance significative des revenus et de l'EPS dans la seconde moitié de 2024.

Les points clés incluent :

  • Prévisions pour l'année entière 2024 : revenus de 52 à 54 millions de dollars (croissance de 30% par rapport à l'année précédente) et EPS de 0,31 à 0,34 dollars
  • Commande de 5 millions de dollars pour une solution de recharge mobile e-Boost d'une grande municipalité américaine
  • Commande de 7 millions de dollars pour une solution de recharge mobile e-Boost d'un grand district scolaire métropolitain
  • Commande de plus de 3 millions de dollars pour une sous-station d'un grand fournisseur d'énergie
  • Commande de 2 millions de dollars pour une solution énergétique E-Bloc pour un système de génération distribuée militaire
  • Commande de 1 million de dollars pour une solution énergétique E-Bloc d'un dépôt de recharge pour camions en Californie

L'entreprise est maintenant à jour avec tous les dépôts SEC jusqu'à ce jour.

Pioneer Power Solutions (Nasdaq: PPSI) hat seinen Quartalsbericht Q2 2024 eingereicht und die Prognosen für das gesamte Jahr 2024 bekräftigt. Der Auftragsbestand ist um 46% auf 67 Millionen US-Dollar gestiegen, was auf eine starke Nachfrage nach seinen E-Bloc- und e-Boost-Lösungen hinweist. Pioneer erwartet im zweiten Halbjahr 2024 ein signifikantes Wachstum von Umsatz und EPS.

Wichtige Highlights sind:

  • Prognose für das gesamte Jahr 2024: Umsatz von 52-54 Millionen US-Dollar (30% Wachstum im Jahresvergleich) und EPS von 0,31-0,34 US-Dollar
  • Auftrag über 5 Millionen US-Dollar für eine mobile e-Boost-Lösung von einer großen US-Gemeinde
  • Auftrag über 7 Millionen US-Dollar für eine mobile e-Boost-Lösung von einem großen Schulbezirk in der Metro
  • Auftrag über mehr als 3 Millionen US-Dollar für eine Umspannstation von einem großen Versorgungsunternehmen
  • Auftrag über 2 Millionen US-Dollar für eine E-Bloc-Energielösung für ein militärisches dezentrales Generationssystem
  • Auftrag über 1 Million US-Dollar für eine E-Bloc-Energielösung von einem Lkw-Ladehof in Kalifornien

Das Unternehmen ist nun mit allen SEC-Einreichungen bis heute auf dem Laufenden.

Positive
  • Backlog increased 46% to $67 million, indicating strong demand
  • Projected 30% year-over-year revenue growth for 2024
  • Secured multiple large orders for e-Boost and E-Bloc solutions
  • Expects significant growth in revenue and EPS in second half of 2024
  • Now current with all SEC filings
Negative
  • None.

Insights

Pioneer Power Solutions' Q2 2024 report reveals significant positive momentum. The 46% sequential increase in backlog to $67 million is a strong indicator of future revenue growth. This, coupled with management's reiteration of full-year 2024 guidance of $52 to $54 million in revenue (30% YoY growth) and $0.31 to $0.34 EPS, suggests a robust second half of 2024.

The company's recent order wins, totaling over $18 million, span diverse sectors including municipalities, school districts, utilities and military applications. This diversification reduces risk and demonstrates broad market acceptance of Pioneer's E-Bloc and e-Boost solutions.

For investors, the key takeaways are:

  • Strong order backlog indicating near-term revenue growth
  • Diversified customer base across critical infrastructure sectors
  • Management's confidence in achieving significant year-over-year growth
  • Potential for improved profitability in H2 2024
The company's focus on EV charging infrastructure and distributed energy resources positions it well in high-growth markets, potentially driving long-term value for shareholders.

Pioneer Power Solutions is capitalizing on several key market trends, particularly in the EV charging and distributed energy sectors. The $5 million order from a major U.S. municipality and the $7 million order from a large metro school district for e-Boost charging solutions highlight the growing demand for EV infrastructure in public and educational sectors.

The $3 million substation order from a major utility and the $2 million military distributed generation system order demonstrate Pioneer's diversification across critical infrastructure projects. This diversification is important for maintaining steady growth and mitigating sector-specific risks.

The repeat order from a California truck charging depot indicates customer satisfaction and potential for recurring revenue. With a market cap of $53.4 million, Pioneer's projected revenue of $52-54 million for 2024 suggests the company is trading at a price-to-sales ratio close to 1, which could be attractive if growth and profitability targets are met. Investors should monitor the company's ability to convert its growing backlog into revenue and maintain profitability as it scales.

Backlog Surges to $67 Million; up 46% Sequentially

Expects Strong Second Half of 2024 with Significant Growth in Revenue and EPS

Management to Host Investor Conference Call at 4:30 pm ET on October 30, 2024

FORT LEE, N.J.--(BUSINESS WIRE)-- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (“Pioneer” or the “Company”), a leader in the design, manufacture, service and integration of electrical power systems, distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions, today announced that the Company filed its quarterly report on Form 10-Q for the quarter ended June 30, 2024, with the U.S. Securities and Exchange Commission (the "SEC").

The Company also announced that management reaffirmed guidance for the full year 2024 of $52 to $54 million in revenue, which represents year-over-year growth of approximately 30%, and $0.31 to $0.34 in EPS.

Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer, commented, "In just three months, our backlog of orders grew 46% to $67 million at the end of June demonstrating robust demand for both our E-Bloc and e-Boost power solutions. This backlog of confirmed orders is a clear indication of significantly higher sales and increasing profitability in the second half of 2024 compared to the first half of the year.”

Recent Business Highlights

  • Received an order valued at $5 million for our mobile e-Boost charging solution from a major U.S. municipality to support electrification of its EV fleet
  • Received an initial order valued at $7 million for our mobile e-Boost charging solution from a large metro school district to support its fleet of electric school buses
  • Received a large substation order valued at more than $3 million from one of the nation’s largest utilities
  • Received an order for an E-Bloc power solution valued at approximately $2 million for a large military distributed generation system
  • Received an order for an E-Bloc power solution valued at approximately $1 million from a repeat customer, a major California truck charging depot
  • The Company is now current with all SEC filings to date

2024 Outlook

Management expects revenue of $52 to $54 million for the full year 2024, which represents year-over-year growth of approximately 30% and EPS of $0.31 to $0.34.

The foregoing projected outlook constitutes forward-looking information and is intended to provide information about management's current expectations for the Company's 2024 fiscal year. Although considered reasonable as of the date hereof, this outlook, and the underlying assumptions may prove to be inaccurate. Accordingly, actual results could differ materially from the Company's expectations as set forth herein. See "Forward-Looking Statements".

In preparing the above outlook, the Company assumed, among other things, (i) that the Company’s backlog orders will translate into revenue, (ii) that the Company will be able to satisfactorily complete and deliver all orders and (iii) the timely payment by customers for all billings. This section includes forward-looking statements. See "Forward-Looking Statements".

Conference Call:

Management will host a conference call at 4:30 p.m. Eastern Time on Wednesday, October 30, 2024, to discuss Pioneer’s first half of 2024 financial results with the investment community.

Anyone interested in participating should call 1-877-407-0789 if calling within the United States or 1-201-689-8562 if calling internationally. When asked, please reference conference ID: PIONEER.

A replay will be available until Wednesday, November 13, 2024, which can be accessed by dialing 1-844-512-2921 if calling within the United States or 1-412-317-6671 if calling internationally. Please use Access ID: 13749598 to access the replay.

The call will also be accompanied live by webcast over the Internet and accessible at: https://viavid.webcasts.com/starthere.jsp?ei=1693199&tp_key=40e95ec5ff

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile EV charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company’s operating results, (iv) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (v) the Company’s dependence on two customers for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company’s ability to realize revenue reported in the Company’s backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the liquidity and trading volume of the Company’s common stock, (xii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiii) risks associated with litigation and claims, which could impact our financial results and condition, and (xiv) the Company’s ability to regain and maintain compliance with the continued listing requirements of the Nasdaq Capital Market.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Brett Maas, Managing Partner

Hayden IR

(646) 536-7331

brett@haydenir.com

Source: Pioneer Power Solutions, Inc.

FAQ

What is Pioneer Power Solutions' (PPSI) revenue guidance for 2024?

Pioneer Power Solutions (PPSI) has reaffirmed its full-year 2024 revenue guidance of $52 to $54 million, representing approximately 30% year-over-year growth.

How much did Pioneer Power Solutions' (PPSI) backlog increase in Q2 2024?

Pioneer Power Solutions' (PPSI) backlog increased by 46% to $67 million at the end of June 2024, compared to the previous quarter.

What is Pioneer Power Solutions' (PPSI) EPS guidance for 2024?

Pioneer Power Solutions (PPSI) has provided EPS guidance of $0.31 to $0.34 for the full year 2024.

What major orders did Pioneer Power Solutions (PPSI) receive recently?

Pioneer Power Solutions (PPSI) recently received orders including a $5 million e-Boost order from a U.S. municipality, a $7 million e-Boost order from a metro school district, a $3+ million substation order from a major utility, and E-Bloc orders worth $2 million and $1 million for military and truck charging applications, respectively.

Pioneer Power Solutions, Inc.

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