American Superconductor Corporation (NASDAQ:AMSC) is one of the best electrical equipment stocks to buy according to analysts.
On May 27, American Superconductor reported fourth-quarter results that showed demand in its Grid and Wind businesses continuing to improve. Revenue rose to $86.4 million from $66.7 million a year earlier, while full-year revenue increased 34% to $299.2 million.
The update fits the electrical equipment theme because the company sells power-control systems and grid-reliability products used to stabilize utility, industrial, and renewable-energy infrastructure. The company said growth was driven by higher Grid and Wind revenue, along with contributions from its Comtrafo acquisition. Management said fourth-quarter orders approached $100 million, led by traditional energy customers and rising data-center demand within the utility market. Its 12-month backlog expanded nearly 40% year over year to about $280 million, giving the company better visibility into near-term equipment demand. American Superconductor also guided for revenue above $85 million in the June quarter, suggesting momentum carried into the new fiscal year.
American Superconductor Corporation provides power-control systems, grid reliability solutions, wind turbine electronic controls, naval power protection systems, and engineering services for energy, utility, industrial, renewable, and defense markets.
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