AMSC - Why American Superconductor Stock Shocked Investors on Thursday
2024-05-30 11:46:51 ET
For the second quarter in a row, American Superconductor (NASDAQ: AMSC) (doing business as AMSC), wowed investors with its earnings report Wednesday afternoon, beating on earnings and raising guidance. On Thursday, its stock rose 22.8% through 10:40 a.m. ET.
Heading into its fiscal fourth quarter of 2023, analysts forecast this specialist in interconnecting renewable power sources with electrical systems would lose $0.02 per share on sales of only $37.1 million. AMSC actually earned a $0.05-per-share profit (well, sort of), and its $42 million in sales eclipsed analyst predictions.
Not all the news was good. It turns out that the $0.05-per-share "profit" that excited analysts was only a pro forma number. When calculated according to generally accepted accounting principles ( GAAP ), AMSC actually lost $0.05 per share. Despite that quibble, however, AMSC's Q4 improvement was undeniable.
For further details see:
Why American Superconductor Stock Shocked Investors on Thursday