The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. American Superconductor (AMSC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.American Superconductor is a member of our Computer and Technology group, which includes 617 different companies an ...

Core Viewpoint - AMSC has updated its financial guidance for the second fiscal quarter of 2024, reflecting the acquisition of NWL, with expected revenues now projected between $50 million and $55 million, significantly higher than the previous guidance of $38 million to $42 million [1][2] Financial Guidance - AMSC anticipates positive cash generation of $1.0 to $4.0 million for the second quarter of fiscal 2024, compared to the previous guidance of breakeven to a positive cash generation of $2.0 million [1] Acquisition Impact - The acquisition of NWL is expected to enhance the quality of AMSC's revenues and earnings, as well as expand its penetration in the industrial market [2] - NWL's expertise in providing power supplies for critical military systems is anticipated to strengthen AMSC's military business and broaden its customer base [2] Company Overview - AMSC specializes in megawatt-scale power resiliency solutions, including Gridtec™, Marinetec™, and Windtec® Solutions, aimed at optimizing power network reliability and efficiency [3] - The company has a global presence with operations in Asia, Australia, Europe, and North America, and focuses on enhancing the performance and reliability of power networks and military fleets [3]

American Superconductor (AMSC) closed the last trading session at $18.73, gaining 0.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $27 indicates a 44.2% upside potential.The mean estimate comprises three short-term price targets with a standard deviation of $3.46. While the lowest estimate of $23 indicates a 22.8% increase from the current price level, the most optimistic analy ...

Core Viewpoint - American Superconductor (AMSC) has demonstrated significant growth, with a year-to-date stock price increase of 79.3%, reflecting strong investor confidence in its fundamentals [1] Group 1: Company Performance - AMSC's stock performance has outpaced the Zacks Computer & Technology sector and the S&P 500 index, which rose by 7.5%, 22.7%, and 17.9% respectively [1] - The company is recognized as the leading supplier of high-temperature superconductor cables, benefiting from momentum in the semiconductor industry [1] Group 2: Market Positioning - AMSC is well-positioned in alternative energy, with strong demand for its grid interconnection solutions, licensed wind energy designs, and electrical systems [1][4] - The company is expanding its addressable market through its power grid, wind, and marine solutions, catering to the growing demand for renewable energy and electrification [4] Group 3: Product Offerings and Customer Momentum - AMSC's product offerings, including D-VAR Systems and actiVAR Systems, enhance power grid capacity and efficiency, driving momentum among power grid operators [4] - The company is experiencing strong demand in the wind power market, supported by its Electrical Control Systems and Wind Turbine Designs [5] - AMSC has secured significant orders, including a record $75 million order from the Royal Canadian Navy and a follow-on order exceeding $12 million from InoxWinds [7] Group 4: Financial Estimates - The Zacks Consensus Estimate for second-quarter fiscal 2024 revenues is $50.05 million, indicating a year-over-year growth of 47.2% [9] - The fiscal 2024 revenue estimate stands at $206.2 million, reflecting a year-over-year growth of 41.6%, with earnings expected to rise significantly from 2 cents in fiscal 2023 to 31 cents [9] Group 5: Valuation and Investment Outlook - AMSC's stock is currently trading at a premium, with a forward Price/Sales ratio of 3.55X compared to the industry's 2.65X, indicating a stretched valuation [10] - Despite the perceived risk of overvaluation, the premium is justified by the company's strong financial performance and growth prospects in key markets [12] - The combination of strong momentum in various end-markets, innovative products, and rising deal wins positions AMSC as a compelling investment opportunity [13]

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Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $40.3 million, a growth of over 30% compared to $30.3 million in Q1 2023 [13][10] - Gross margin increased to 30% from 21% in the year-ago quarter, driven by higher revenues and improved pricing [14][13] - Net loss for Q1 2024 was $2.5 million or $0.07 per share, compared to a net loss of $5.4 million or $0.19 per share in the previous year [15][16] - Non-GAAP net income for Q1 2024 was $3 million or $0.09 per share, compared to a non-GAAP net loss of $2.1 million or $0.08 per share in Q1 2023 [16] Business Line Data and Key Metrics Changes - Grid business unit accounted for 80% of total revenues, with a 26% increase year-over-year [13] - Wind business unit revenues increased by 76% year-over-year, driven by ECS shipments [13][10] - The company reported a record $75 million order for ship protection systems from the Royal Canadian Navy [11] Market Data and Key Metrics Changes - The company ended Q1 2024 with a 12-month backlog of $160 million and a total backlog of $250 million, up from $140 million at the start of the year [11][19] - New Energy Power Systems orders totaled approximately $33 million, reflecting strong contributions from various sectors [11] Company Strategy and Development Direction - The acquisition of NWL is expected to accelerate profitable growth and broaden product offerings, particularly in the industrial and military sectors [22][24] - The company aims to expand its military footprint within the Department of Defense, especially the U.S. Navy, by integrating NWL's capabilities [23][25] - The strategic focus is on building a more predictable and diversified business, with expectations for sustainable profitability [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position, citing strong orders momentum and financial results [26][27] - The company anticipates continued growth driven by U.S. policies and momentum in wind and ship businesses [27][28] - Management highlighted the potential for doubling revenue from fiscal 2021 levels, aiming for $50 million per quarter [27] Other Important Information - The company generated $3.1 million of operating cash flow in Q1 2024, with cash and equivalents totaling $95.5 million [16][15] - The NWL acquisition was completed for approximately $61.4 million, expected to positively impact financial performance [18][21] Q&A Session Summary Question: Trends impacting NWL's business - Management noted that NWL's recent performance has been stronger than the three-year average, with improving margins [32] Question: Inox order cadence - Management confirmed that Inox's backlog stands at over 2.7 gigawatts, with products expected to be shipped within the fiscal year [34] Question: Synergies from NWL acquisition - Management highlighted significant synergies, particularly in expanding customer access in the industrial sector and enhancing military capabilities [38][39] Question: Integration timeline for NWL - Management indicated that integration would be straightforward due to NWL's established operations and culture, with a few months needed for full financial integration [41][42] Question: Military vs. industrial revenue mix for NWL - Management estimated that 20% to 30% of NWL's business is military, with expectations for significant growth in this area [46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____. Commission File Number: 0-19672 American Superconductor Corporation (Exact name of registrant as specified in its charter) Delaware 04-2959321 (State or othe ...

[Financial Performance and Outlook](index=1&type=section&id=Financial%20Performance%20and%20Outlook) This section details AMSC's recent financial results and future projections, highlighting revenue growth and cash flow improvements [First Quarter Fiscal Year 2024 Financial Results](index=1&type=section&id=First%20Quarter%20Fiscal%20Year%202024%20Financial%20Results) AMSC reported strong Q1 FY2024 results with 33% revenue growth, reduced GAAP net loss, and positive operating cash flow Q1 FY2024 Key Financial Metrics ($ millions) | Metric | Q1 FY2024 | Q1 FY2023 | Change | | :--- | :--- | :--- | :--- | | **Revenues** | $40.3 | $30.3 | +33.0% | | **GAAP Net Loss** | ($2.5) | ($5.4) | Improved | | **GAAP EPS** | ($0.07) | ($0.19) | Improved | | **Non-GAAP Net Income (Loss)** | $3.0 | ($2.1) | Improved | | **Non-GAAP EPS** | $0.09 | ($0.08) | Improved | - The company generated **$3.4 million** of operating cash flow in Q1 FY2024, a significant improvement from the cash used in the prior-year period[1](index=1&type=chunk) - Booked over **$127 million** in new orders during the quarter, including a first-of-its-kind Ship Protection System contract with an allied navy and a third 3MW ECS order from Inox Wind[3](index=3&type=chunk) Backlog and Cash Position ($ millions) | Metric | As of June 30, 2024 | | :--- | :--- | | **12-Month Backlog** | $160 | | **Total Backlog** | $250 | | **Cash, Cash Equivalents, and Restricted Cash** | $95.5 | [Business Outlook for Second Quarter Fiscal Year 2024](index=2&type=section&id=Business%20Outlook%20for%20Second%20Quarter%20Fiscal%20Year%202024) AMSC projects Q2 FY2024 revenues between $38-42 million, with GAAP net loss not exceeding $1.7 million and positive operating cash flow Q2 FY2024 Guidance ($ millions) | Metric | Guidance Range | | :--- | :--- | | **Revenues** | $38.0 - $42.0 | | **GAAP Net Loss** | Not to exceed ($1.7) | | **GAAP EPS** | Not to exceed ($0.05) | | **Non-GAAP Net Loss** | At least breakeven | | **Operating Cash Flow** | $0 - $2.0 | - The provided financial guidance for Q2 FY2024 does not incorporate the impact of the recently announced acquisition of NWL[4](index=4&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents AMSC's unaudited consolidated financial statements, including operations, balance sheet, and cash flows [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Total revenues increased to $40.3 million, gross margin improved, and net loss significantly narrowed for Q1 FY2024 Condensed Consolidated Statements of Operations (In thousands) | Line Item | Q1 FY2024 ($ thousands) | Q1 FY2023 ($ thousands) | | :--- | :--- | :--- | | **Total Revenues** | **$40,290** | **$30,254** | | Grid Revenues | $32,336 | $25,737 | | Wind Revenues | $7,954 | $4,517 | | **Gross Margin** | **$12,225** | **$6,282** | | Total Operating Expenses | $15,516 | $11,615 | | **Operating Loss** | **($3,291)** | **($5,333)** | | **Net Loss** | **($2,524)** | **($5,398)** | | **Net Loss Per Share (Basic & Diluted)** | **($0.07)** | **($0.19)** | [Unaudited Condensed Consolidated Balance Sheets](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $240.1 million, driven by higher cash and inventory, while liabilities also rose Condensed Consolidated Balance Sheet Highlights (In thousands) | Account | June 30, 2024 ($ thousands) | March 31, 2024 ($ thousands) | | :--- | :--- | :--- | | **Total Current Assets** | **$173,025** | **$166,467** | | Cash and cash equivalents | $93,455 | $90,522 | | Inventory, net | $45,149 | $41,857 | | **Total Assets** | **$240,143** | **$232,771** | | **Total Current Liabilities** | **$86,184** | **$78,808** | | Deferred revenue, current portion | $55,984 | $50,732 | | **Total Liabilities** | **$96,799** | **$88,200** | | **Total Stockholders' Equity** | **$143,344** | **$144,571** | [Unaudited Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating activities generated $3.4 million in cash, a significant improvement, ending the quarter with $95.5 million cash Condensed Consolidated Statements of Cash Flows (In thousands) | Cash Flow Activity | Three Months Ended June 30, 2024 ($ thousands) | Three Months Ended June 30, 2023 ($ thousands) | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | **$3,409** | **($2,245)** | | Net cash used in investing activities | ($20) | ($293) | | Net cash used in financing activities | ($142) | ($17) | | **Net increase (decrease) in cash** | **$3,243** | **($2,553)** | | **Cash, cash equivalents and restricted cash at end of period** | **$95,523** | **$23,122** | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=8&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP net loss to non-GAAP net income, adjusting for non-cash items to show core performance Q1 GAAP to Non-GAAP Reconciliation (In thousands) | Line Item | Q1 FY2024 ($ thousands) | Q1 FY2023 ($ thousands) | | :--- | :--- | :--- | | **Net loss (GAAP)** | **($2,524)** | **($5,398)** | | Stock-based compensation | $1,229 | $1,357 | | Amortization of acquisition-related intangibles | $412 | $544 | | Change in fair value of contingent consideration | $3,920 | $1,350 | | **Non-GAAP net income (loss)** | **$3,037** | **($2,147)** | Q2 Forecast GAAP to Non-GAAP Reconciliation (In millions) | Line Item | Q2 FY2024 Forecast ($ millions) | | :--- | :--- | | **Net loss (GAAP)** | **($1.7)** | | Stock-based compensation | $1.3 | | Amortization of acquisition-related intangibles | $0.4 | | **Non-GAAP net loss** | **$0.0** | [Other Information](index=2&type=section&id=Other%20Information) This section provides an overview of AMSC's business segments and important forward-looking statement disclaimers [About AMSC](index=2&type=section&id=About%20AMSC) AMSC provides energy efficiency and reliability solutions through its Gridtec, Marinetec, and Windtec segments - AMSC's business is structured around three key solution areas: - **Gridtec™ Solutions:** Engineering services and advanced systems to optimize power network reliability and performance - **Marinetec™ Solutions:** Ship protection, propulsion, and power management systems for naval fleets - **Windtec® Solutions:** Electronic controls, systems, and engineering services for wind turbines[6](index=6&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This legal disclaimer cautions that forward-looking statements are subject to significant risks detailed in SEC filings - The press release includes forward-looking statements concerning financial results, backlog, and business momentum, which are subject to inherent uncertainties[8](index=8&type=chunk) - A comprehensive list of risk factors that could cause actual results to differ materially is provided, referencing the company's Form 10-K and other SEC filings. Key risks include a history of losses, supply chain vulnerabilities, competition, and dependence on government spending[8](index=8&type=chunk)[9](index=9&type=chunk)

AYER, Mass., Aug. 05, 2024 (GLOBE NEWSWIRE) -- AMSC (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy's fleet, today announced that it has acquired NWL, Inc. (NWL), a private company based in New Jersey that provides power supplies to industrial and military customers. At closing, AMSC paid $25 million in cash and issued 1,297,600 restricted shares of AMSC commo ...

AYER, Mass., July 31, 2024 (GLOBE NEWSWIRE) -- AMSC® (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy's fleet, announced today that it plans to release its first quarter fiscal year 2024 financial results after the market close on Tuesday, August 6, 2024. In conjunction with this announcement, AMSC management will participate in a conference call with investors ...