Power resiliency solutions provider American Superconductor (NASDAQ: AMSC) will be reporting earnings this Wednesday after market hours. Here’s what investors should know.
American Superconductor beat analysts’ revenue expectations by 11.4% last quarter, reporting revenues of $72.36 million, up 79.6% year on year. It was a stunning quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS 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, analysts are expecting American Superconductor’s revenue to grow 23.4% year on year to $67.23 million, slowing from the 60.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.15 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 since going public by 11.4% on average.
Looking at American Superconductor’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 57.1%, beating analysts’ expectations by 22.8%, and Enphase reported revenues up 7.8%, topping estimates by 12%. Bloom Energy traded up 18% following the results while Enphase was down 15.3%.
Read our full analysis of Bloom Energy’s results here and Enphase’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’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $67.67 (compared to the current share price of $60.50).
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