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Did American Superconductor beat or miss consensus estimates last quarter?

- **Revenue Soars 25% YoY**: Q3 $74.5M driven by North America and Brazil projects.
- **AI Grid Breakthrough**: 250 MVA transformers deployed for utility customers.
- **Data Center Win**: Secured $12M hyperscale project, targeting 20%+ of revenue.
- **Brazilian Expansion**: Comtrafo acquisition taps $10B grid modernization pipeline.
- **Profitable Growth**: Non-GAAP EPS $1.08, 5% opex decline YoY.
- **Strong Pipeline**: $250M+ backlog across energy, chemicals, and utilities.


【CEO Summary Section】
- **Revenue Growth**: Q3 revenue reached $74.5 million, up 25% YoY, driven by North American market recovery and new projects in Brazil.
- **AI and Grid Investment**: Emphasized R&D in AI-driven grid solutions and expansion of 250 MVA transformers for utility customers.
- **Data Center Expansion**: Secured first major data center project, showcasing ability to integrate power modulation for hyperscale facilities.
- **Brazilian Strategy**: Acquired Comtrafo to tap into Latin America's $10B grid modernization pipeline.

【CFO Financial Commentary】
- **Profitability**: GAAP net income $42M, Non-GAAP EPS $1.08 (vs. $0.9M/0.07 prior quarter).
- **Cost Control**: Operating expenses down 5% YoY through R&D efficiency gains.
- **Cash Flow**: Generated $19M in Q3, with $218M in trailing 12-month revenue.
- **Backlog**: $250M+ pipeline across oil, gas, chemicals, and utilities.

【Q&A Highlights】
- **Data Center Strategy**: Won $12M hyperscale project, targeting 20%+ of total revenue by FY27.
- **Brazilian Execution**: Comtrafo integration on track to add $30M+ annual revenue.
- **CapEx Plan**: $80M+ FY26 spend to expand transformer manufacturing capacity.
- **Risk Management**: Diversified into 15+ end markets to mitigate sector volatility.


American Superconductor Corporation (AMSC) Q3 2025 Earnings Call Transcript

- **Revenue Growth Accelerates**: Q2 up 21% YoY to $65.9M, with Grid (83% of sales) +16% and Wind +53%.
- **Profitability Sustained**: 5+ quarters of >30% gross margin, $218M cash, and Q3 guidance >$6M non-GAAP net.
- **Strategic Expansion**: Data center pipeline emerging, military R&D contract wins, and $1T+ global energy capex tailwinds.
- **Risk Management**: Diversified 25/25/20/30% revenue mix across energy, renewables, materials, and defense.

**【CEO Summary Section】**
- Q2 revenue of $65.9 million, up 21% YoY, driven by 16% Grid growth and 53% Wind business expansion.
- Gross margin improved to 31%, with 5 consecutive quarters of profitability and $218.8 million in cash.
- Diversified revenue mix: 25% from traditional energy, 25% renewables, 20% materials, and 30% military/industrial.
- New Navy contract for a next-gen product class signals long-term military growth potential.

**【CFO Financial Commentary】**
- Non-GAAP net income of $8.9 million ($0.20 EPS), up 10% YoY despite higher operating expenses due to NWL integration.
- Q3 guidance: $65-70 million revenue, with net income >$2 million and non-GAAP >$6 million.
- 12-month backlog exceeds $200 million, supporting sustained execution across energy, materials, and defense sectors.

**【Q&A Highlights】**
- Data center opportunities: early-stage pipeline with potential order sizes similar to semiconductor fabs ($2-10 million+).
- Military expansion: new ship power systems and port construction projects expected to accelerate in 2026.
- Grid resilience solutions being spec'd into >50% of utility projects, driven by $1T+ global energy capex tailwinds.

American Superconductor Corporation (AMSC) Q2 2025 Earnings Call Transcript

- **Record Revenue Growth**: Q1 FY2025 revenue of $72.4 million (+80% YoY) driven by Grid (+86% YoY) and Wind (+54% YoY) businesses.
- **Profitability Milestone**: 34% gross margin (vs. 30% YoY) and $11.6 million non-GAAP net income, marking 4th consecutive quarter of profitability.
- **Backlog Expansion**: 12-month backlog of $200 million (+25% YoY), with $63 million in new orders reflecting strong demand in semiconductors, Traditional Energy, and Renewables.
- **Sustainable Growth**: Q2 guidance of $65-70 million revenue and >$6 million non-GAAP net income signals continued momentum.
- **Strategic Opportunities**: Exploring data center infrastructure projects, M&A to expand Grid capabilities, and military partnerships for long-term growth.

**【CEO Summary Section】**
- **Revenue Growth**: Q1 FY2025 revenue reached $72.4 million, up 80% YoY, driven by Grid (83% of revenue, +86% YoY) and Wind (17% of revenue, +54% YoY). This marks the 5th consecutive quarter of sequential growth.
- **Profitability**: Reported net income of $6.7 million ($0.17 EPS) vs. $2.5 million loss YoY. Non-GAAP net income was $11.6 million ($0.30 EPS), up from $3 million YoY. Gross margin expanded to 34%, up from 30% YoY.
- **Backlog Strength**: 12-month backlog of $200 million (vs. $160 million YoY), with $63 million in new orders this quarter. Total backlog exceeds $300 million.
- **Key Sectors**: Materials (semiconductors, mining) accounted for ~25% of revenue, with Traditional Energy (oil/gas) and Renewables each contributing ~25%. Grid revenue grew 85% YoY.
- **Execution Excellence**: Accelerated delivery for a key customer boosted Q1 results, reflecting strong customer relationships and demand across multiple markets.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Grid ($60.3 million, +86% YoY), Wind ($12.1 million, +54% YoY). NWL acquisition contributed significantly to Grid growth.
- **Gross Margin**: 34% (vs. 30% YoY), driven by higher volumes, favorable product mix, and factory utilization. Non-recurring items were minimal.
- **Cash Position**: $213.4 million in cash (vs. $85.4 million Q4 FY2024), boosted by $124.6 million from June equity offering. Operating cash flow of $4.1 million.
- **Q2 Guidance**: Revenue $65-70 million, net income >$2 million ($0.05 EPS), non-GAAP net income >$6 million ($0.14 EPS).

**【Q&A Highlights】**
- **Gross Margin Sustainability**: 34% Q1 margin was 'near-perfect' due to ideal mix, but 30%+ margins achievable at $70+ million revenue levels. Long-term target is mid-30s%.
- **Capacity Expansion**: Labor-constrained vs. space-constrained; no immediate need for second shifts. Exploring acquisitions to expand capabilities.
- **Data Center Growth**: Early-stage discussions with EPCs and utilities for substation solutions. Potential for in-building solutions, but no near-term revenue impact.
- **Semiconductor Market**: Benefiting from $160B global semiconductor capex in 2025. Materials sector orders on horizon, with 12-month backlog up 25% YoY.
- **M&A Activity**: Actively evaluating targets to expand Grid and Military offerings. Disciplined approach to accretive acquisitions.

American Superconductor Corporation (AMSC) Q1 2025 Earnings Call Transcript

- **Record Q4 Growth**: $66.7M revenue (+59% YoY), $200M 12-month backlog, and 28% gross margin reflect strong execution.
- **Semiconductor Surge**: Q4 orders driven by U.S. fabs, with potential for $10M+ per fab in 2025.
- **Military Expansion**: $75M+ Royal Canadian Navy contract marks first allied navy win, complementing U.S. Navy SPS deliveries.
- **Wind Recovery**: Inox ECS shipments ramping, supporting India's 3GW+ wind turbine backlog.
- **Profitability**: 7th consecutive quarter of non-GAAP profitability, with Q1 2025 guidance for >$4M non-GAAP net income.


**【CEO Opening Remarks】**
- Q4 2024 revenue reached $66.7 million, up 59% YoY, driven by Grid (+62%) and Wind (+42%) segments.
- Full-year 2024 revenue of $222.8 million (+53% YoY) with 70% of sales from the U.S., mitigating trade policy risks.
- Q4 orders surged to $75 million, pushing 12-month backlog to $200 million (vs. $140 million YoY), with semiconductor fabs and traditional energy projects accelerating.
- Key milestones: Royal Canadian Navy contract ($75M+), 3 U.S. Navy ship protection systems delivered, and Inox wind turbine ECS orders ($35M+).

**【CFO Financial Review】**
- Q4 GAAP net income: $1.2M ($0.03 EPS) vs. loss of $1.6M ($0.05 EPS) YoY.
- Non-GAAP net income: $4.8M ($0.13 EPS) vs. $1.9M ($0.06 EPS) YoY.
- Full-year non-GAAP net income: $24M ($0.65 EPS) vs. $0.6M ($0.02 EPS) YoY.
- Gross margin improved to 28% (2023: 24%), with operating cash flow of $28.3M for the year.
- Q1 2025 guidance: Revenue $64-68M, net income >$1M, non-GAAP net income >$4M.

**【CEO Future Outlook】**
- **Semiconductor Fabs**: Q4 orders driven by U.S. fabs under construction, with potential for $10M+ per fab in coming years.
- **Traditional Energy**: Solutions for upstream (drilling), midstream (pipelines), and downstream (refining) now account for ~25% of pipeline.
- **Military Growth**: Ship Protection Systems (SPS) backlog >$75M, targeting allied navies beyond U.S. and Canada.
- **Wind Recovery**: Inox ECS shipments ramping, with 3MW systems demonstrating efficiency gains.
- **Grid Resilience**: Solutions for data centers, mining operations, and grid modernization (e.g., voltage stability for retiring thermal plants).

**【Q&A Highlights】**
- **Order Mix**: Q4 Grid revenue 84% of total, with semiconductor fabs and traditional energy projects driving $75M Q4 orders.
- **Gross Margin Strategy**: Focus on factory efficiency, supply chain bundling, and pricing for materials-intensive solutions.
- **Tariff Impact**: U.S. market focus (70%+ sales) and domestic supply chain hedge against global volatility.
- **SPS Performance**: Systems exceed expectations, with U.S. Navy satisfaction and Canadian Navy deployment pending.
- **Wind Visibility**: Inox backlog >3GW, but short-term contracts reduce reported backlog visibility.


American Superconductor Corporation (AMSC) Q4 2024 Earnings Call Transcript

- **Record Q3 Revenue**: $61.4M (+55% YoY), driven by grid (56% growth) and wind (58% growth).
- **Backlog Expansion**: 12-month backlog >$200M, total >$300M; pipeline growth outpaces company growth.
- **Profitability**: 2nd consecutive quarter of net income ($6M non-GAAP); gross margin 27%.
- **Future Growth**: Targeting U.S. industrials, data centers, semiconductors; India wind orders accelerating.
- **Financial Strength**: $80M cash, $5.9M Q3 operating cash flow; Q4 guidance: $59-63M revenue.


**【CEO Summary Section】**
- Q3 2024 revenue reached a record $61.4 million, up 55% YoY, driven by grid (85%) and wind (15%) businesses. Grid revenue grew 56%, wind 58%.
- Secured $57 million in new orders, 75% from grid; 12-month backlog exceeds $200 million, total backlog >$300 million.
- Highlighted opportunities in U.S. industrial manufacturing, data centers, semiconductors, and India's wind market.
- Achieved 2 consecutive quarters of net income and 6+ quarters of positive operating cash flow.

**【CFO Financial Commentary】**
- Q3 non-GAAP net income: $6 million ($0.16/share), up from $0.03/share last year.
- Gross margin improved to 27% (vs. 25% YoY), driven by higher volumes and product mix.
- Operating expenses rose to $14.6 million due to NWL acquisition; 19% non-cash.
- Q4 2024 guidance: $59-63 million revenue, non-GAAP net income >$2.5 million.

**【Q&A Key Highlights】**
- **Pipeline Growth**: Pipeline expansion rate > company growth rate; diversifying into industrials, data centers, semiconductors.
- **Inox Wind Orders**: $15 million ECS orders; batched shipments tied to customer payment schedules.
- **Capacity & Leverage**: Current capacity sufficient; capital needs minimal ($0.5M Q3 CapEx).
- **Acquisition Strategy**: Actively evaluating targets with complementary tech, strong margins, reasonable valuations.
- **Data Center & Semiconductors**: Engaging utilities to support grid infrastructure for new builds; multiple projects in pipeline.
- **U.S. Policy Impact**: Potential to benefit from reshoring incentives; 85% grid revenue from U.S. in Q3.


Actual										-0.24	-0.11	-0.13	-0.13	-0.21	-0.1	-0.19	-0.17	-0.17	-0.25	-0.23	-0.27	-0.28	-0.08	0	0.03	0.05	0.08	0.27	0.16	0.12	0.29	0.2	2.75
Forecast										-0.2375	-0.2425	-0.185	-0.1275	-0.21	-0.1633	-0.1567	-0.1667	-0.165	-0.2375	-0.2175	-0.2475	-0.1975	-0.16	-0.1067	-0.0567	-0.0167	0.01	0.0433	0.0667	0.0967	0.12	0.1525	0.1525
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.05%	+54.64%	+29.73%	-1.96%	0.00%	+38.76%	-21.25%	-1.98%	-3.03%	-5.26%	-5.75%	-9.09%	-41.77%	+50.00%	+100.00%	+152.91%	+399.40%	+700.00%	+523.56%	+139.88%	+24.10%	+141.67%	+31.15%	+1703.28%

AMSC

AMSC fundamentals

AMSC Q3 2026 Earnings

Earnings Call

You can ask Aime

AMSC

AMSC fundamentals

AMSC Q3 2026 Earnings

Earnings Call

AMSC Earnings Call Summary for Q3/202610:00 AM on Feb 5, 2026

AMSC Earnings Call Summary for Q2/202610:00 AM on Nov 6, 2025

AMSC Earnings Call Summary for Q1/202610:00 AM on Jul 31, 2025

AMSC Earnings Call Summary for Q4/202510:00 AM on May 22, 2025

AMSC Earnings Call Summary for Q3/202510:00 AM on Feb 6, 2025

You can ask Aime