American Superconductor Corporation ( AMSC ) shares are trading higher Thursday after the company posted strong fourth-quarter financial results. Here's a look at the key figures from the report. 

The Details:

American Superconductor ( AMSC ) reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate of losses of 2 cents per share. 

Quarterly sales came in at $42.03 million which beat the analyst consensus estimate of $37.13 million by 13.19% and represents a 32.4% increase from the same period last year. The company said the increase was a result of both higher Grid segment revenues, primarily driven by strong new energy power system sales and higher Wind segment revenues, as a result of 3MW ECS shipments.

Related News: UiPath Stock Plummets After Q1 Results: Here’s Why

“Our fourth quarter results exceeded our forecast by nearly every measure, with growth in both our Grid and Wind segments and a third consecutive quarter of non-GAAP net income. During the fourth quarter, we booked $39 million in orders, and our backlog at year-end stood at $140 million,” said Daniel P. McGahn, President and CEO of AMSC. 

Outlook: 

American Superconductor ( AMSC ) sees first-quarter loss of 1 cent per share, versus the loss of 3 cents per share estimate, and first-quarter revenue in a range of $38 million to $42 million, compared to the $35.4 million consensus estimate. 

“AMSC delivered a terrific year of operational performance and success, ensuring a more diversified and financially stronger company. We maintain an optimistic outlook for fiscal year 2024 and believe we are off to a very good start for the coming year,” said McGahn. 

ASMC Price Action: According to Benzinga Pro, American Superconductor ( AMSC ) shares are up 20.4% at $19.01 at the time of publication Thursday.

Image: Gerd Altmann from Pixabay