American Superconductor (AMSC) Q1 2027 earnings summary

Executive summary

• Achieved record quarterly revenue of $94.1 million in Q1 FY2026, up 30% year-over-year, driven by strong Grid and Wind segment growth and the Comtrafo acquisition.

• Grid segment accounted for 81% of revenue, Wind for 19%, both posting strong double-digit growth.

• Net income rose to $9.5 million ($0.21/share) from $6.7 million ($0.17/share) year-over-year, primarily due to a gain from the change in fair value of contingent consideration related to the Comtrafo acquisition.

• Robust order momentum with total orders exceeding $130 million, including a record $25 million mining utility order.

• 12-month backlog exceeds $300 million; total backlog over $400 million.

Financial highlights

• Q1 FY2026 revenue: $94.1 million vs. $72.4 million year-ago (30% growth).

• Gross margin: 26.3%, impacted by $1.5 million in Comtrafo-related non-cash adjustments and unfavorable product mix.

• Net income: $9.5 million ($0.21/share) vs. $6.7 million ($0.17/share) year-ago.

• Non-GAAP net income: $7.6 million ($0.17/share) vs. $11.6 million ($0.30/share) year-ago, affected by $8.1 million contingent consideration adjustment.

• Operating cash flow: $16 million, up from $4.1 million prior year; cash and equivalents at $153.1 million.

Outlook and guidance

• Q2 FY2026 revenue expected to exceed $85 million.

• Q2 net income projected to exceed $1 million ($0.02/share); non-GAAP net income to exceed $8 million ($0.17/share).

• Management anticipates gross margin improvement in the second half of the fiscal year.

• 12-month backlog exceeds $300 million, supporting future growth.

• Long-term growth expected, with strong tailwinds in materials, traditional energy, and utilities.