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Amer Superconductor Up 6.82% To $5.01 After Earnings Miss

Thursday, June 01, 2023 12:00 PM | InvestorsObserver Analysts

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Amer Superconductor Up 6.82% To $5.01 After Earnings Miss

Thursday, June 1, 2023 - Amer Superconductor (AMSC) reported downside earnings and upside revenues.

Amer Superconductor's earnings came in at an EPS loss of $0.28 per share, 40% lower than estimates for an EPS loss of $0.2 per share. The firm's loss per share expanded by 65% since reporting a loss of $0.17 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $31.7 million. That is an increase of 12.13% in revenues from the year-ago report and is 12.36% higher than consensus estimates set at $28.3 million.

The stock is up 6.82% to $5.01 after the report.

Amer Superconductor's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 71. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

American Superconductor Corp generates the ideas, technologies, and solutions that meet world's demand for smarter, cleaner and energy. Through its Windtec Solutions, the company enables manufacturers to launch wind turbines quickly, effectively and profitably. Through its Gridtec Solutions, the company provides engineering planning services and grid systems that optimize network reliability, efficiency and performance. The company's segment includes Grid and Wind. It generates maximum revenue from the Grid segment.

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