AMSC Reports Second Quarter Fiscal Year 2026 Financial Results and Business Outlook

(NASDAQ:AMSC) AMSC reported financial results for its second quarter ended September 30, 2026. Revenues for the second quarter of fiscal 2026 were $94.0 million, compared with $65.9 million for the same period of fiscal 2025. The year-over-year increase in revenue was driven by organic growth and the acquisition of Comtrafo. Net income for the second quarter of fiscal 2026 was $3.0 million, or $0.06 per share, compared to $4.8 million, or $0.11 per share, for the same period of fiscal 2025. Non-GAAP net income for the second quarter of fiscal 2026 was $9.1 million, or $0.20 per share, compared with $8.9 million, or $0.20 per share, in the same period of fiscal 2025. Cash, cash equivalents, and restricted cash on September 30, 2026, totaled $181.9 million, compared with $147.6 million at March 31, 2026. Grid segment revenues for the quarter were $76,667,000, and Wind segment revenues were $17,371,000. For the six months ended September 30, 2026, Grid revenues were $152,990,000 and Wind revenues were $35,120,000, for total revenues of $188,111,000. Cost of revenues for the quarter was $67,508,000, and for the six months was $136,855,000. Orders for power solutions during the second quarter exceeded $95 million, driven primarily by traditional and renewable energy as well as demand from materials and utility customers. The company generated over $45 million in operating cash during the first half of the year. Daniel P. McGahn, Chairman, President, and CEO, stated that the company delivered over $90 million in second quarter revenue, up more than 40% year-over-year, reflecting continued customer-requested accelerations in project deliveries. He also noted quarter-on-quarter gross margin expansion and significant operating cash flow, providing flexibility for long-term strategic investments in growth. For the third quarter ending December 31, 2026, AMSC expects revenues to exceed $80.0 million. Net income for the third quarter is expected to exceed breakeven, or $0.00 per share. Non-GAAP net income for the third quarter is expected to exceed $7.0 million, or $0.15 per share. The net income and non-GAAP net income guidance assumes estimated income tax expense of $0.5 million for the third quarter. The company expects revenue to average approximately $90 million for each of its first three quarters and anticipates strong demand to continue through the second half, ending the fiscal year on a high note and delivering significant year-over-year growth for the full fiscal year. AMSC operates in Australia, Brazil, North America, United States, Israel, Iran, and India.