Power resiliency solutions provider American Superconductor (NASDAQ: AMSC) will be reporting earnings tomorrow after market close. Here’s what to look for.
American Superconductor beat analysts’ revenue expectations by 8.4% last quarter, reporting revenues of $61.4 million, up 56% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is American Superconductor a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting American Superconductor’s revenue to grow 43.4% year on year to $60.27 million, improving from the 32.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
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 has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 10% on average.
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. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and EVgo reported revenues up 36.5%, topping estimates by 1.4%. Generac’s stock price was unchanged after the resultswhile EVgo was up 32.8%.
Read our full analysis of Generac’s results here and EVgo’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 20.4% on average over the last month. American Superconductor is up 42.6% during the same time and is heading into earnings with an average analyst price target of $39 (compared to the current share price of $24.98).
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