PSI Q4 net income $9.3M vs loss $7.6M; sales up 8% to $137M

POWER SOLUTIONS INTERNATIONAL, INC.

2023-Q1 EPS reported $0.16 revenue$116,469,000

Q4 2022 sales $137.0M, up 8% YoY; industrial +$19.5M, power systems +$10.0M, transportation -$19.5M.
Gross margin expanded to 21.5% from 7.6% on higher sales, better mix, pricing actions and lower warranty expense.
Net income $9.3M ($0.40/share) vs net loss $7.6M ($0.33 loss) in Q4 2021.
Adjusted net income $10.1M ($0.44 EPS); Adjusted EBITDA $16.3M vs negative $1.9M last year.
Operating cash flow improved to $8.9M inflow from $22.4M outflow in prior-year quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

POWER SOLUTIONS INTERNATIONAL, INC. reported Q4 2022 results: revenue 137.0 million, net income 9.3 million, EPS 0.40.

Period: Q4 2022
Revenue: 137.0 million
Net income: 9.3 million
EPS: 0.40
Result: reported results

Exact text from the filing

Sales for the fourth quarter of 2022 were $137.0 million, an increase of $10.0 million, or 8%, versus the comparable period last year. The improvement in sales is comprised of increases of approximately $19.5 million and $10.0 million in the industrial and power systems end markets, respectively, partially offset by a decrease of $19.5 million in the transportation end market. The increased sales within the industrial end market primarily reflect increased demand for products used in the material handling/forklift markets. Higher power systems end market sales were driven by increases across various categories, including standby and customers that have traditionally served the oil and gas market. The decreased sales within the transportation end market were primarily attributable to lower sales in the medium duty truck market, coupled with lower sales of school bus products. Gross profit increased by $19.8 million, or 204%, in the fourth quarter of 2022 compared to the same period last

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Source: SEC EDGAR

accession 0001193125-23-088105

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