Stock Track | American Superconductor Stock Plunges 5.96% Pre-market Despite Strong Q3 Results

Stock Track

Feb 07

American Superconductor Corporation (AMSC) stock plunged 5.96% in the pre-market trading session on Friday despite reporting strong financial results for the third quarter of fiscal year 2024.

The company reported record quarterly revenue of $61.4 million, up 56% year-over-year, driven by growth in both its grid and wind businesses. AMSC also achieved its second consecutive quarter of net income and positive operating cash flow.

However, the market's reaction appears to be driven by concerns over the company's guidance for the fourth quarter. While AMSC expects revenue to remain strong in the range of $59 million to $63 million, it anticipates a net loss of up to $1 million or $0.03 per share, despite projecting non-GAAP net income of $2.5 million or $0.07 per share.

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While AMSC expects revenue to remain strong in the range of $59 million to $63 million, it anticipates a net loss of up to $1 million or $0.03 per share, despite projecting non-GAAP net income of $2.5 million or $0.07 per share.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMSC","symbol_name":"美国超导","start_time":0,"source_url":"","article_id":"1131660186","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1131660186","pubTimestamp":1738919780,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"American Superconductor Corporation  stock plunged 5.96% in the pre-market trading session on Friday despite reporting strong financial results for the third quarter of fiscal year 2024.The company reported record quarterly revenue of $61.4 million, up 56% year-over-year, driven by growth in both its grid and wind businesses. 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