AMSC - Earnings call transcript Q1 2022 | American Superconductor Corporation

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Operator

Good day, everyone and welcome to the American Superconductor First Quarter 2022 Earnings Conference Call. Today’s call is being recorded. And now, at this time, I’d like to turn the call over to John Heilshorn of LHA Investor Relations. Please go ahead.

John Heilshorn

Thank you, April. welcome earnings Superconductor conference and of first everyone ‘XX fiscal call. morning, to Corporation’s American quarter Good I am John Investor Relations Heilshorn of LHA of Investor record. agency Relations, AMSC’s Chief Daniel With President, Vice Officer Chairman, call on Financial and are Treasurer. us President Kosiba, today’s Chief and Executive and Senior Officer; John McGahn, for its of first fiscal closed. ‘XX Superconductor issued the market American yesterday earnings release quarter after the

the the release, who website of For been the is not you www.amsc.com. company’s see have a those Investors available at of to able copy page at

under of including the call, Commission starting Annual forth Securities that March ‘XX future filed fiscal company’s Actual Exchange Litigation section Before the Act XXXX, for forward-looking other subsequent about with X, important reports XX-K as such XXXX during of and June of prospects constitute to which the forward-looking date company’s management’s Factors the various in the statements remarks SEC. to expectations may statements results forward-looking year for XX, the with I’d result Risk and set on Form Superconductor’s not any the purposes of Superconductor’s the Report like and those American company of on Private today’s filed factors, those representing ended be views financial as provisions statements management’s remind performance, that These expectations, American of should Reform represent today. today as only relied the make upon indicated XXXX. of various materially Harbor regarding quarter you differ including plans from the expectations a by as management Securities and may second call Safe

management in the not company The non-GAAP on cause net update refer indicative of developments a its Form non-recurring across first release to and call, net operating non-cash, measure. divestitures earnings subsequent do found assist core loss events believe reporting on net a are excluding periods change, views While ‘XX the company’s non-GAAP statements. loss, company charges non-GAAP issued comparing obligation to these that the company believes loss any disclaims financial loss to fiscal that and and reconciliation company be of today’s furnished the management Also non-GAAP may to will on specifically company’s can by consistent performance forward-looking X-K. the of in that anticipates to the The basis quarter SEC these press GAAP net last or the other performance. night that

Investors at American Chairman, now Superconductor’s McGahn. call All Daniel releases the www.amsc.com. filings its of SEC Officer, from that, press of I With website Executive and be Chief over page and will President accessed to can Daniel? the turn

Daniel McGahn

by Kosiba good our provide Thanks, XX, John of ended quarter, will end an then will fiscal June which XX, wind update which results financial business on and will begin providing grid morning review and XXXX. our units. for second everyone. September the I quarter, John provide the guidance detailed a for and today fiscal XXXX, first

started we the open I’m of say We’ve an book Following year established line our million. order our to $XXX from happy strong a we’ll analysts. up questions to fiscal comments, XXXX. over

to We This quarter. are of is fiscal well now next all year. during historical our our happened into selling This fiscal pace ahead business. first the

and by and orders in be had tailwinds Our set a the the growth due we bookings growing. continue and to orders in backlog see see from market to mining of some even to independence research Navy see semiconductor an U.S. renewables diverse projected carbon last acceleration believe is the to will is We some to in growing, work of We tailwinds and the year materials on important We energy an our industrial. markets reduction. see some development of quarter. continued We maturation driven products. from business We the renewables new business. move discussed multiple the to of XXXX

U.S. capacity For few years and strong address materials stronger We is industry of of are past of growth The United the mining, the impact. of memory tailwinds We automakers materials pressure increasing in We the tailwinds expected and environmental example, sustainable have to XXXX for the sector policy foreign The vehicles response reduce benefit the in States. our security. economy Inflation Act just to by their the proposed and era from see the see significant clean government demand spending global the to for in the recent tax see demand become poised States. to and in recently days. the the our key Science several electric next These example seem to are incentivizing Act Reduction boost for move investments United demand contains Senate and energy business Chips economy. the driven of current to substantially green XXXX metals challenges to in U.S. semiconductor a breaks, which XXXX business. our to

fiscal first just below reported revenue million. XXXX, quarter the of During $XX we

lines seeing as are from availability with parts We supply our challenges as the of of customers well chain. project time

booked stronger the of this expect a year. quarter. We $XX over We million fourth first and of orders fiscal had during third new quarter

of carrying all see indicators inventory can growth. will discuss levels. John we’re that elevated These and are You

Now, to quarter fiscal for guidance John? of to XX, end over will first second XXXX. the turn the September fiscal and results of our Kosiba review provide XXXX, which John financial quarter I the call XXXX will for

John Kosiba

XXXX ago $XX.X quarter Thanks, Daniel everyone. revenues fiscal quarter. the for generated good of first year and morning to AMSC in million $XX.X million compared the of

revenues, the business revenues for in the Grid XX%. versus XX% the quarter. accounted unit ago unit increased decreased our revenues versus unit total first Wind in by ago year accounted Wind for business while quarter first XX% XX% of business the quarter Grid quarter. Our business unit year

averages. was Gross a particularly compared was the XX% on drag adversely with gross continued XXXX quarter. more quarter at mix, the Looking in quarter P&L XX% by product detail, to in year-ago with first for the impacted this for associated unfavorable recent the fiscal as our the margin to you coupled margins of historically D-VAR contribution margin We shipments quarterly levels normalized company. backlog. anticipate back aware, of in for fiscal shipments Neeltran highest of of came the has And the one rebound to margins D-VAR produced remainder for D-VAR below many product XXXX. are

acquired has our Daniel mentioned, As we are way the through working backlog. Neeltran

by that XXXX. In most have fiscal fact, backlog off QX we expect this end of shipped to of the

As rebound acquired meaningful we D-VAR backlog recent our become financials, margins approach the sales average. to overall and Neeltran the gross on we historic anticipate less see

orders in anticipate a and margins material impact priced also ship. received the those to on have quarter orders current We costs this overall positive gross our new they on as

fiscal were R&D moving Now expenses for the XXXX XXXX first operating the to fiscal expenses. to results. were on SG&A $XX.X compared year first flat million, of Approximately XX% and ago quarter quarter expenses of non-cash. a for of SG&A and R&D

Our non-GAAP with fiscal first the or $X.X net loss per million million year share share quarter ago for $X.XX $X.X XXXX quarter. in compared of was per the or $X.XX

a loss QX $X.XX $X.XX loss the the $XX.X fiscal results. X.X% GAAP first to compares first was cash We Neeltran tax million see associated fiscal restricted a reconciliation and with loss with to cash. of This Please net net million XXXX XXXX year-ago net quarter. in and Our ended our share. million or in Included $X.X release the night cash, the our of XX, a March quarter share was benefit XXXX with GAAP per in non-GAAP of quarter per for or fiscal $X.X XXXX. compares This of acquisition. non-GAAP last equivalents press $XX.X in issued million on

of quarter XXXX in Our was first operating cash burn $X.X million. fiscal the

Let our take inventory to a me talk minute about position.

As earlier, XXXX. of orders new in mentioned the we million first $XX Daniel quarter booked over fiscal during

of our quarter to strain working put less demand, is our particularly is beyond inventory. to lines. product increased to to our earmarked not Almost million the has in working surge support inventory increase do on QX our in We in we This $X that the on in $XX With we this fiscal first ship of into strong within and inventory this fiscal XXXX. new nearly we ship start are continue capital all expect projects capital quarter. second some our total the new of to within We QX beyond. inventory that anticipating and backlog have anticipate are quarter, to energy by over all on which in of QX product lines said, expected for second year. We revenue strain booked energy the half million many as during new the second in expected and the the increased

guidance financial quarter our the to for turning XXXX. fiscal of second Now

expect in $XX of our million be revenues range We will the to million. $XX that

exceed to $X.XX that is or on revenue not loss per net Our $X.X share. million expected

a flow second of $X exceed $X.X to expects loss non-GAAP million per of burn is The to $X cash quarter XXXX. or Our not be company the in operating share. expected net million $X.XX to fiscal million

We second With than expect over cash turn Daniel. to to million restricted quarter I end with no call cash. the in that, the $XX back and equivalents cash, will less

Daniel McGahn

John. Thanks,

beginning recent order acquisitions. first a Our XXXX. initial our is robust quarter we’re We strengthening, fiscal and of business the see to experienced of booking benefits the during

critical world tailwinds world. well is a raises powerful a carbon to path for as economy business. materials. and This The towards change a to semiconductors more our slow in down metals, of transition climate set sustainable and mining emerging quickly diverse a for moving have We as create low decarbonization demand

power central Our new to a transition. is systems business role in energy play expected this

tailwinds Our efforts. global decarbonization created from is business benefiting by the

three semiconductors new take We believe semiconductor subsequent bookings and of our In markets and emergence are coming the We fact, strength our in seeing materials we quarters. the tailwinds renewables, are power to systems to these to these expect anticipate diversify grow and well-positioned we demand business. areas: in from materials. the of continue for advantage additional and energy of all

Fort Protection Now USS turning the Ship We system our to our Lauderdale. for Systems. SPS delivered

the focused are on system. this of We successful installation

Richard the the We Harrisburg, our capabilities has Pittsburgh. we the year, consistent delivered USS the Grid grid demonstrated revenue and XXXX this source systems. in segment and established for to backlog, which our In deliver this scheduled McCool first of revenues fiscal SPS the a be to USS the SPS is have several very to USS fiscal quarters. past of contributed quarter and been have

continuing business we while deliver very Our the on and SPS expand initial our focused team to busy systems. is

point be is to SPS-related expect hopefully hard what update Chicago, signs in perform see and you in very in larger we a near future. Navy, it great experience to future with the on to the already served To Grid as Although uptick learning would and the or for REG Electric to a our an system revenues, exactly the continues brighter we when an It’s system Resilient give utility. well. predict

deploy as desire We as to grid. utility this power others continue well to the strong for see into further REG

Turning Wind. to

prototype of wind and initial X-megawatt We are supporting farm wind the class initial in of the turbine a turbines X.X-megawatt and Inox Doosan respectively. with field an

first fiscal in the During our Electrical of Control India, ECS, Wind. quarter shipped X-megawatt Inox partner Systems XXXX, to or we

customer Just Renewable of be Wind from an NTPC commissioned Limited, order for Gujarat wind to with yesterday, announced wind a X-megawatt project Inox a turbines. repeat the state XXX-megawatt in Energy

this ECS, and which to is by the the India’s XXXX of an year robust year. X-megawatt turbine, turbine XXXX of going position is next the start Inox capacity from for to wind total business X-megawatt is with continue to be the of demand book sometime expect We We us. for to a to this wind at its in XXXX. GlobalData, X-megawatt the demand The Indian of class class later complete. expanding wind gigawatts the the gigawatts design which for certification in great X-megawatt translate good class a order fiscal for wind designed market XX should nearly add a to market, gigawatts fiscal is believe year The the end X.X end prototype wind cumulative in according into XX turbine fit expected expanded

suited for preparing Doosan partner, class our turbines their Southeast X-megawatt for AMSC’s We for wind Doosan. to Inox for utilizing is first X.X-megawatt geography larger wind South X-megawatt a believe deployment a we’re transition in now turbine and AMSC, is our India. series in to at production Asia turbine well ECS. wind Korea, erecting offshore Here class of

a South wind to of potentially offshore producers, power global market offshore long-term with and this for Korea share. the one forward the high look intends positioned South and prospect X in to Korea, the world’s market we wind market Doosan penetrating become we believe represents top for Doosan offshore well very is partner. a

there front, have due global on chain are impacts the supply conflict On in effects and which chain pandemic the supply to Ukraine. still the our

business, continue availability. cost We we to but be increases on stabilize. are component the supply due chain-related a seeing drag pressure chain our to cost to expect in and Supply this

by deliveries. and are lead challenged We for components times being constantly availability of the

job product doing as lines vendors Please backlog. call, work these where working a proposals with is Neeltran challenges stocks. to supply be it last The and team possible. the managing our said are acquired chain into we great continue to maintain pricing on through We across reminded, we the of

Some into situations. XX% result, of conclude, customer backlog grew the projects And first to To these and have during the as out our the expected by this to moved XXXX. of fiscal due quarter is business quarter. approximately next impact third quarter a

Our fiscal orders coming outpaced quarters. quarter, revenue grow expect the revenue this first we and in to

In more something of customers. the to well. received than service our for ethic as great This their working team business units first accomplish been is double dedication on fiscal well very ratio hard over customer testament quarter, is the is book-to-bill a fact, orders provided are as had work The we’ve we performing quarter. this a has X shipped the meaning and to and

We second the a expect in quarters shipments revenue coming to quarters the and to XXXX fourth half by of grow the new fiscal year. increasing fiscal driven with third in stronger energy

in shipments, anticipate ahead. do with acquired in energy off meaningful gross coupled margin backlog, new the experienced of expansion this revenue we we quarters the As working the Neeltran growth

We for USS USS have deployment Ship Richard McCool on Protection Pittsburgh. the and System USS the orders Harrisburg,

see effort our though India. turbine with Doosan’s transition continued Inox wind class are to preparing in the wind We a offshore We to market demand we’re turbine, supporting megawatts. wind and partner, do X our deployment the for X-megawatt penetrate to larger for X.X-megawatt onshore for

XXXX. the for which reporting the against I of those at products, labor to built build mostly we back than more questions to to to their from second are look that take our positions, executing of are of we our know will you fiscal of into analysts. now dozen credit hard our We to April, forward goals the products. employees completion fantastic our cost is and quarter due direct open our to work have three

Operator

Stine will you. [Operator of Craig-Hallum. from we And Instructions] Eric Thank first hear

Eric Stine

Good John. morning, Daniel and

how half can first, So the if week, how talk And various flows $XXX that how or your so orders got, take quarter. when maybe be in and out between break XXXX? areas? bit in little you’ve a those you with the on just just then May second first the those million what, orders thoughts break you grid down ‘XX breakdown or expectation, the last with or those

Daniel McGahn

Sure.

a renewables, there continue it’s materials, of in for orders, diverse we as So Navy. the orders R&D some mentioned work even in set industrial semiconductor prepared is remarks, – are at to and there the general

really, kind a business that’s the grid. means talked board but is do orders in year. the third different that the into that obviously tail of of fiscal timing, we’ve of everything year, today you. quarter. there less these go that few kind would things and set that be that next fiscal we it’s across is the in We than of the started help uptick within about the going half We in But said the most which in So really a that announcement substantial, to new pretty

if you timing look things I Eric, at been where think we’re we we’ve November. on typically August, in the our historically, call say and today seeing in the

of see has was you the it acceleration. The We’re that, that the going to business accelerate, all we for sold year, out accelerated. showing we’re and We predicted right. and indications

Eric Stine

pretty industry and semiconductor, of for do when that’s maybe where bring Yes. is if that the feel that customer the Got more that becoming value aware correct that specifically, application? about stands. it. you I you I And think Understood. you your the capabilities wrong, I’m but concentrated And – think and me guess, been

Daniel McGahn

imagine. I concentrated think you it’s less than

working at concentration. expand acquire We’re and the fabs chip companies also reason content. to great with multiple on of were other makers part customers expand point. that help to customer help to the multiple we to this to It’s Remember looking alleviate that our going these were

the good opportunity we in work Obviously, with some we’ve We’ve U.S. they diversification coming before. We we in said the have the presents that worked for further partners fabs So partners so U.S. today. drive think with far. for or feel reshore really further semi to served with the another either hopefully, that it’s semi-manufacturing we’ve of we the with home, marketed directly to. generation serve, But we this really to of chips kind at before that that about here

will these U.S. that So to optimistic continue to there that we’re that really of the that and business business our to part today the are – bring tailwinds help more of of grow semi

Eric Stine

limited for you REG. I you’re into last what Got that to was know just one put it. can service. maybe And believe can But me, as remind, just then I on say. you

that September. then do think with expect we who’s are think about point operate to or And next next was you we – it second a – I year close about Chicago do at then it stand, with is wanted last steps, and for you think August would a or think be to least, the data would or the another this? where you year, REG how it would Chicago mark? watching follow-on utility that do project,

Daniel McGahn

the clearly I where but handicap, looking future. Chicago to are with is they think The we are

indicates utility. as utility is and think gotten involved product really, maintenance really my been The that forward that has operation have on to much over fact parallel. this very want country, of in we lot how clearly that gotten understand of really behaved in this The that been project, they we’ve deployed technology, it number the just grid, first of has us and reenergized go the understand to look I that milestone people going move accepted a other conversations their want me, The within they well. the reopened, it’s they if to own see all on been can. at as at to the they and that not do the have technology in the a help opinion, the to they

for one So from. today going to me come the next handicap it’s kind is to hard where of

next in in You clearly I’m focused hear the quarters can really new my tone, energy. growing on

great have We indications SPS. from coming

business. think quarters. REG more do on, something is a future, but of say, and it’s next that looking our the part let’s to think it’s part few certainly big of we’re our we generate long-term future I But not in important revenue

Eric Stine

Thanks. Understood.

Operator

of And next, Clare from we Justin will hear Capital ROTH Partners.

Justin Clare

Hi, taking questions. thanks for our

Daniel McGahn

Good morning. Justin. Hi,

Justin Clare

Good morning.

size about seeing first order this guess, in sales of of talked stronger given second book, I year. So off, you fiscal your the the half

are Just QX, wondering, that in of track QX QX this put And you for then see fiscal the growth full you expecting on to year-over-year growth for sequential does year? fiscal and year?

Daniel McGahn

I’ll cash the what answer the first and second well and Obviously, the part of versus bottom first of top we’re growth, first to the right? given saying an we’re we’re the quarter quarter relative quarter. the line as And question. we’re in quarter. third line of today, in improvement So lot with the a the about the results fourth talking the guiding for the guide, seeing

this today product time this it’s knitting sit backlog sure for on we to speculate delivering next revenue cost as to year where partners, our but well. grown QX make into will me than that’s I also to help year hard year for this we’re our to for have think our on or stronger QX mind I QX? is QX What be with do than stronger

it has now in of we’re project by the winning ourselves that I’d So about hard so it’s serving, And definitively do don’t you up project yes, for that’s end to we’re can that we business And I worry lot much I in But new level, trends a in It’s coming. blunt. the the be business me this of that’s the predict larger markets is that you quarter-to-quarter. and macro What the across accelerated. I’ll markets do worry why what clear to that board. the the and pace more financials. are we’re growing? commentary say see see the get see commentary trying to

Justin Clare

Okay, then gears margins here. Great. And got it. shifting to just

move think, kind this that Does level level off, suggest nearing rolling of that QX, the historic year I fiscal margins. is QX maybe or about potentially be approaching Neeltran fiscal backlog this next average you as that reach in largely XX% you of into could a we year? could you With a talked in

Daniel McGahn

say, on directionally, projects. mix I’d upon to the in, or it’s go over depend teens of in if revenue going backlog, of the in the Truly the we the year margin the depend gross high going general at of back the the digesting the past before our say we It’s quarter quarter, we’ve into more kind were If we a so level. started been trailing kind XX%s. But you look teens. to

signal and in the economy, So could have depending in we change of promise on very the trying so… we’re and projects what struggling, is people ability all at. the something that’s to kind which this execute with is programs, to potential the on supplier I we’re But to tomorrow and because that good our there the it want start parts don’t

Justin Clare

one more the lot, just chip just the in for me, was CHIPS domestic subsidies manufacturing. with Okay. signed Maybe Act for

Just this your for kind order with and driving customers sense there any legislation for had growth about Have the any bill this increased business in potential what timing? you of support already flow? wondering to is conversations

Daniel McGahn

only part, just last the is answer really which Yes, I’ll yes.

So this we saw coming.

Washington. very record, been in headed. our active in reaching out, trade the where kind we’re NEPSI track American understood are semiconductor both space. We We’ve trying to on We of and Superconductor

will it believe help. we So

so it’s to shown different having a think But a many on team America, I more it’s and how lot hard certainly growth in names the which much great. more really and sales is great that when. in the levels, focused think lot we conversations on with dial has is

Justin Clare

appreciate I great. it. Okay,

Operator

We now Rusch of from Oppenheimer. Instructions] hear Colin will [Operator

Colin Rusch

for of design got, power Could that management have much, you some guys. so cost some the recently Thanks in of acquired? out you those you about solutions particularly the talk opportunities that

Daniel McGahn

were trying costs. opinion, in costs job, working to the those part manage increase Colin, on – the has of done we my when a already respond to of We going better think component I in good forward. why ways Yes, to team

So job what has a to quarter-by-quarter I know. we think team the trying good of kind done price in

don’t product at help of through of after things say do kind margins to way chain. a I doesn’t a a can ago, is drive leave pressures want year it all inflation with get we when telegraphing midterm, behind had couple we mean the to things seems change the necessarily that next was like outcomes were that’s and first we the Hopefully, changes offering I’ll in say, with the but supply of quarter problem to But to it deliver market. be I’m in order that. that had And up That customer the ready something kind ago, them think on. we’ve before I to to all and are is program same really of that us, exactly And are costs, certainly in that started, just quarters I again, that kind inflationary have It change make know. the this what lessening. continue I’ll there don’t of up. that those Then second going keeping just past work the the we great do you to the to one will success. kind we

Colin Rusch

going be a business, be active, And to to there well opportunity is from particularly on you in curious footprint perspective? bit sticking Thanks with to guys Central substantial so can talk America about geographic expand sales thought quality issue and Obviously, as effort. that much. a And the going opportunity just and is a more Europe. basically power the for an that then sales you as around is process everywhere I’m just your South what forward.

Daniel McGahn

exactly that. it’s no, Yes,

D-VAR U.S., already. a path in direct America a right is NEPSI that the NEPSI that is think the We well. because UK, all into more and starting expanded over and with I gotten products there in the Neeltran with South have there a as We’ve for And historical in little bit Australia. Africa the business and years Europe

lines. of I’m of over the global that from the what will will but all see of So see that’s the reach, from we not the hoping growth we reach the new a time, your leverage addition back products, only energy, product question, coming lines, we better And to we a from product look feature standpoint. from previous the for ways, between how to cost function kind get go of standpoint can and both then do

it headed. where So you I we’re think got right on

Colin Rusch

so much, Appreciate guys. thanks it. Okay,

Daniel McGahn

Thanks, Colin.

Operator

questions appears to it question. at Hutton time. actually, just And Daniel I’ll with or over turn a Moore the there back no any for are And this EF further for Chip comments. call signaled additional closing

Daniel McGahn

Sure.

We will Chip. that take from

Chip Moore

Hi, hear me? you thanks. Can

Daniel McGahn

great. Yes, got you. We

Chip Moore

ahead. ahead. Go Go

just think bunch there you about about how I hire think Any So strong talked you or very Wondering to a if on labor, of needing that? that order of to back your I’d half, help in out great to folks. chain risks follow whether that handicap some like risk see. that do up pushed flow, gets the maybe can you us supply it’s or

Daniel McGahn

my always year from think starting starting is beyond into a extend because the from far kind of project to something and mindset risk a of There another. week backlog one there Yes. quarter one out. But I’m the about say, quarter in with that businesses, is project today to – that the from now moves to I’ll

the the events So what If is we and people commission. want able we that then are has to and make parts here. a different sure kind want do the is We business accelerated have of be that to we a think on to access that pace to pace, typically our revenue-bearing. have it labor hard happens, we to commissioning deliver but to delayed, those don’t predict. to says Customer on or

we’ve that And they when focus and there everybody, we a the customer come to with We in a want seen We for start think we mind. we’re to need going them attitude have to to want business. work always just on which there We our customers repeat manage. that So we’re earlier, needed. with well objectives, we’re to we take we want customer there because their be that Whatever needs, stay – be to them. we need know the later. there I customer, And be just of in and meet everything to to the just our back lot own. not if

think and to we’re if service we a provider, more a going business So that’s future. good good partner in translate the into

Chip Moore

be like of Navy. something Perfect. on we of you Can getting else? an gears you order talking also remind there Navy, the about another on those switch Would uptick. dynamics on could us the mentioned there then you just And favorable R&D this potential if are signs I with systems? maybe And for annuity shift mentioned sort maybe or

Daniel McGahn

be talking ship. be existing programs. for all It could They about part in could anything. another of We could the product. are another be It

So trying protect to what is capability to extend power do and the fleet. the we’re

leave kind I’ll it delivered per. a ship, you We’ve for one. profile that. LPD the is remind So million it’s revenue breakout first $XX an at about To revenue for of for but on typically – the

on the one Remember on delivering percent second that revenue the now. accounting is it. We’re complete a

it’s something that of occurs the on not final kind finishes So bumbles and upon delivery. It up delivery. really

you in from that what And integration goes focused Navy well, the our business deliver. in first then first is better be the of now think if well, we system successful the right words to if Navy, on goes the is that So, of we’ve really our been told ship. no part uncertain team ready and the into guys

the So Navy. makes It feel this I we’re investing like thing product the that right like me doing in from follow-on. feeling

Chip Moore

will – here just one. still guess, I near-term, and you margin So we the the obviously given you’re like and maybe seeing any Inox about particularly on shipments, And specifically, many year think wait more my more? Thanks. it’s X-megawatt? in then of it sounds it. impact. the ECS, in the last Have visibility rest that Got X-megawatt

Daniel McGahn

Yes, John I’ll to the talk margin let impact.

make that the alive wanted well everybody may are be is the to come for and I they X-megawatt just that on – orders X-megawatt, well. thing that focusing think demand people sure may understood realizing could as getting not X be it. is we and And not for

John Kosiba

Hey Chip.

Wind’s tend at margin, scale lines at we’ve line scale, Wind be the On product margin running said contribution Wind again, when D-VAR product and the product lines. what to our today. not highest Wind’s is

category. that into [indiscernible] not it’s So

business Wind we up, see to a margins. positive see back start we impact ramp on will as So

Chip Moore

everybody. appreciate Yes, Thanks, I okay. Great. it.

Operator

I’ll over or comments. And no for call additional this any questions further time. there are turn Daniel back to the at closing

Daniel McGahn

To my folks, acceleration. Sesame up, growing of the day, Thanks, watch childhood back a hearken and to is Street the April. word

we the remarks, look the you navigate from everything prepared to to bigger and and all hiring If trying bigger said happen. people, inventory indicators backlog, in what’s going at quarter-to-quarter we’re

growth QX. to QX from We’re to guiding

year, talking We’re continuing to focusing on really throughout about revenue rest the of and already the XXXX. strengthen we’re

were trying be kind time. here as this clear we enthusiasm heard probably quarter. felt not in long the a have You last to we of from could as long, We team

be the talking Those to quarter and about We’re for tailwinds seem business one we ago. accelerate number deeper to potential in today tailwinds have broader the business. they the given were the of that even than

quarter’s next we for to able going work quarter’s execution to we being to to through you time the our and So you day. and a able have and are being accelerate, forward way attention about talk ready. good to as we guys support, we results handle your when the look Thank in

Operator

That does all conference. your today’s participation. you Thank for conclude

disconnect. You may now

American Superconductor (AMSC) 7 Aug 222022 Q1 Earnings call transcript