Power Solutions Q1 net income $7.1M ($0.31 EPS) up 91% YoY; sales down 18% to $95.2M but gross margin expands to 27%

POWER SOLUTIONS INTERNATIONAL, INC.

2024-Q1 EPS reported $0.31 revenue$95,240,000

Net income $7.1M ($0.31 diluted EPS) vs $3.7M ($0.16) in Q1 2023, a 91% increase.
Revenue $95.2M, down 18% YoY; Power Systems up $17.3M offset by Industrial -$14.1M and Transportation -$24.4M.
Gross margin improved to 27.0% from 20.2% due to mix, pricing, efficiencies, and lower warranty costs.
Operating cash flow $15.6M, up $10.6M; debt reduced $5.0M; shareholders' equity positive $3.2M.
Adjusted EBITDA $11.9M vs $10.1M; adjusted EPS $0.31 vs $0.16.

item 7.01 item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

POWER SOLUTIONS INTERNATIONAL, INC. reported first quarter of 2024 results: revenue $95.2 million, net income $7.1 million, EPS $0.31.

Period: first quarter of 2024
Revenue: $95.2 million
Net income: $7.1 million
EPS: $0.31
Result: reported results

Exact text from the filing

Today, Power Solutions International, Inc., reported results for the three months ended March 31, 2024 , with first quarter of 2024 net income of $7.1 million and diluted earnings per share of $0.31, compared to net income of $3.7 million and diluted earnings per share of $0.16 for the first quarter of 2023. Sales for the first quarter of 2024 were $95.2 million, a decrease of $21.2 million, or 18%, compared to the first quarter of 2023

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Source: SEC EDGAR

accession 0001137091-24-000016

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