American Superconductor Corporation (NASDAQ: AMSC) Q4 2024 Earnings | May 30, 2024

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American Superconductor Corporation (NASDAQ: AMSC), a leading provider of megawatt-scale power resiliency solutions, reported its Q4 2024 financial results on May 30, 2024, delivering robust growth and a third consecutive quarter of profitability. Total revenue for the quarter surged 59% year-over-year to $66.7 million, driven by strong performance in both the Grid and Wind businesses. The Grid segment accounted for 84% of total revenue, rising 62% to $55.6 million, while the Wind segment contributed 16%, increasing 42% from the prior year. Net income for the quarter was $1.2 million, or $0.03 per share, a turnaround from a net loss of $1.6 million in the same period last year. On a non-GAAP basis, net income reached $4.8 million, or $0.13 per share. Earnings per share (EPS) of $0.12 exceeded analyst expectations by 20%, marking a significant beat, although reported revenue was slightly below projections. Gross margin improved to 27% from 25% a year ago, reflecting better cost management and operational efficiency. For the full fiscal year 2024, AMSC achieved record revenue of $222.8 million, up 53% from the previous year, and net income of $6.0 million, compared to a net loss of $11.1 million in fiscal 2023. The company ended the year with $85.4 million in cash and a robust 12-month backlog of over $200 million, supported by nearly $320 million in new orders—highlighting strong demand across renewables, energy, industrials, and defense markets. CEO Daniel P. McGahn credited the results to diversified end-market strength, successful integration of acquisitions, and continued innovation in energy and defense solutions. AMSC enters fiscal 2025 with strong momentum, a growing order pipeline, and a focus on expanding offerings and customer relationships. Outlook: Continued focus on expanding grid and wind business segments Strong backlog and order momentum into fiscal 2025 Commitment to operational excellence, innovation, and profitable growth About Inside Ticker: For more expert analysis and real-time updates on American Superconductor Corporation (NASDAQ: AMSC) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #AmericanSuperconductor #AMSC #Q42024 #Earnings #Grid #Wind #FinancialResults #PowerResiliency #Energy #InsideTicker