AMSC reports Q4 EPS 5c, consensus (2c)

Reports Q4 revenue $42.03M, consensus $37.13M. “Our fourth quarter results exceeded our forecast by nearly every measure, with growth in both our Grid and Wind segments and a third consecutive quarter of non-GAAP net income. During the fourth quarter, we booked $39 million in orders, and our backlog at year-end stood at $140 million,” said Daniel P. McGahn, Chairman, President and CEO, AMSC. “We believe our company’s diverse orders bookings, strengthened balance sheet, and operational success in fiscal 2023 has laid the groundwork for AMSC’s long term growth trajectory. Our growing and robust end markets may allow us to seize opportunities in new markets, expand our offerings and extend our customer reach. AMSC delivered a terrific year of operational performance and success, ensuring a more diversified and financially stronger company. We maintain an optimistic outlook for fiscal year 2024 and believe we are off to a very good start for the coming year.”