American Superconductor benefits from the growing demand for smart grid solutions.
The company focuses on the development and provision of solutions in the field of superconductivity and intelligent energy management technologies. These solutions are designed to improve the efficiency of electricity transmission grids and minimize energy loss. The company is characterized by its ability to supply everything from a single source. American Superconductor (NASDAQ: AMSC) is a US company that provides technology products such as power controls and systems as well as solutions for the clean energy industry. It specializes...
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- The company focuses on the development and provision of solutions in the field of superconductivity and intelligent energy management technologies.
- These solutions are designed to improve the efficiency of electricity transmission grids and minimize energy loss.
- The company is characterized by its ability to supply everything from a single source.
American Superconductor (NASDAQ: AMSC) is a US company that provides technology products such as power controls and systems as well as solutions for the clean energy industry. It specializes in the development and manufacture of superconducting materials, systems and components. These technologies enable the efficient transportation of electricity without resistance and are used in various areas, including energy transmission and distribution.
Smart grid technology in particular should serve as a growth driver
The company will continue to benefit from the growing demand for renewable energy projects worldwide. In particular, the increasing need for smart grid technology to better and more reliably distribute and manage multiple renewable energy sources will play into the company\'s hands. According to a report by Precedence Research, the smart grid market is expected to be worth $167 billion by 2032, suggesting that it is an attractive opportunity that addresses a key problem in the renewable energy sector. Although the increasing deployment of renewable energy technologies such as wind and solar has helped solve environmental problems worldwide, grid reliability issues are common. Smart grid technology, which uses software and hardware solutions to improve the consumption efficiency of multiple energy sources, aims to solve this problem. The company has the right smart grid technologies for this.
The company sees great opportunities for expansion in India
As the deployment of smart grids requires the integration of the traditional grid system with new solutions, many public and private project developers around the world have invested in modernizing their grid systems, driving demand for AMSC\'s offerings. Last year, the management highlighted the strong demand and India as an interesting foreign opportunity. The company sees a number of opportunities for its own products and services as utilities begin to feed decentralized energy into the grid. Thanks to strong market demand, the company has a solid pipeline of projects. In particular, the wind market in India offers opportunities. A report by GWEC confirms India\'s potential in the wind energy market, particularly in the offshore segment. The total installed capacity of offshore wind energy alone has increased by almost 1 GW every year since 2022 and is expected to rise to 5 GW by 2025. Taking into account the total potential of the Indian wind energy market, the number is expected to almost quadruple to reach 21.1 GW by 2027.
The latest quarterly figures were a positive surprise
American Superconductor reported figures at the end of May that exceeded the average estimates of Wall Street analysts. Net loss narrowed to $1.58 million, or $0.05 per share, in the 4th fiscal quarter compared to a loss of $6.87 million, or $0.25 per share, a year earlier. Revenue rose 32% year-over-year to about $42 million in the three-month period ending in March, beating the consensus of about $37 million. The company booked orders worth $39 million and the order backlog amounted to $140 million at the end of the year. For the 1st fiscal quarter ending June 2024, the company expects revenue in the range of $38 million to $42 million. Management also forecast a net loss of $2.2 million for the three-month period.
Summary: AMSC is a company that offers products and services to solve problems in the growing renewable energy sector. More specifically, its technologies help project developers implement "smart grid" solutions to improve the efficiency of energy distribution across multiple sources while maintaining grid reliability. AMSC has recently been in a strong demand environment, from which it is benefiting. However, it is not yet profitable and the valuation is high with a KUV25e of 4.9.
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