American Superconductor (AMSC) Raises Q2 Outlook

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 and resiliency of our Navy’s fleet, today announced updated financial guidance for its second fiscal quarter ending September 30, 2024 to reflect the recently announced acquisition of NWL.

AMSC now expects revenues, inclusive of its NWL acquisition, to be in the range of $50 million to $55 million for the second quarter of fiscal 2024. The Company’s previous revenue guidance, excluding the NWL acquisition, was in the range of $38 million to $42 million.

As a result of higher expected revenues, AMSC anticipates positive cash generation to be between $1.0 and $4.0 million in the second quarter of fiscal 2024. The Company’s previous operating cash flow guidance, excluding the NWL acquisition, was breakeven to a positive cash generation of $2.0 million.

“We are very pleased with the acquisition of NWL. We expect that it will strengthen the quality of our revenues and earnings and further expand our industrial market penetration,” said Daniel P. McGahn, Chairman, President and CEO of AMSC. “As we also expand our military business, we believe NWL has the potential to multiply our military footprint within the US Navy and the Department of Defense. Given our recent work and success with allied navies, the two companies together are expected to provide a powerful combination. We believe that this acquisition positions us to better serve our now broadened industrial product offerings to an expanded group of customers.”

NWL provides power supplies for critical military systems and motor drives for a variety of energy applications. By leveraging NWL’s leadership position in the industrial and military markets, the Company expects to expand its business offerings and deliver greater value to existing and new customers, business partners and shareholders.

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