Power resiliency solutions provider American Superconductor (NASDAQ: AMSC) will be reporting results this Wednesday afternoon. Here’s what to expect.
American Superconductor beat analysts’ revenue expectations last quarter, reporting revenues of $74.53 million, up 21.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and EBITDA estimates.
Is American Superconductor a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting American Superconductor’s revenue to grow 22.4% year on year, slowing from the 58.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. American Superconductor rarely misses Wall Street’s revenue estimates.
Looking at American Superconductor’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Shoals reported revenues up 74.9%, topping estimates by 8.7%. Bloom Energy traded up 27.2% following the results while Shoals’s stock price was unchanged.
Read our full analysis of Bloom Energy’s results here and Shoals’s results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices flat over the last month. American Superconductor is up 4.1% during the same time and is heading into earnings with an average analyst price target of $52.33 (compared to the current share price of $51.60).
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