American Superconductor (AMSC) shares surged 6.57% in after-hours trading on Wednesday following the release of its fourth-quarter and fiscal year 2024 financial results, which significantly exceeded analyst expectations. The company reported impressive growth in both revenue and earnings, demonstrating strong momentum in its business operations.

For the fourth quarter, AMSC reported earnings per share (EPS) of $0.13, surpassing the analyst consensus estimate of $0.10 by 30%. This represents a substantial 160% increase from the $0.05 per share reported in the same period last year. The company's quarterly sales reached $66.70 million, beating the analyst consensus estimate of $60.27 million by 10.67% and marking a 58.70% increase from $42.03 million in the year-ago quarter.

The strong quarterly performance capped off an impressive fiscal year 2024 for American Superconductor. The company's full-year revenues soared to $222.8 million, a 53% increase from $145.6 million in fiscal 2023. This growth was attributed to higher D-VAR and NEPSI revenues, as well as contributions from the acquisition of NWL, Inc. AMSC reported a net income of $6.0 million for fiscal 2024, a significant turnaround from the $11.1 million net loss in the previous year. The company's non-GAAP net income for the fiscal year reached $24.0 million, compared to $0.6 million in fiscal 2023. These results, coupled with a robust cash position of $85.4 million and a strong order pipeline of nearly $320 million, indicate that American Superconductor is well-positioned for continued growth and success in the coming quarters.