American Superconductor (AMSC) Q2 FY2027 earnings: revenue $94 million, up 42.8% on the year

American Superconductor Corp. (AMSC) reported revenue of $94 million for Q2 FY2027, the quarter ended 30 September 2026, up 42.8% on the same quarter a year earlier. Net income was $3 million, down 36.9% on the year, and diluted earnings per share $0.06. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$94 million

+42.8% on the year · -0.0% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

5.7%

4.5% a year earlier

Q3 FY2025Q2 FY2027

Net income

$3 million

-36.9% on the year · -68.4% on the quarter

Q3 FY2025Q2 FY2027

Diluted EPS

$0.06

-45.5% on the year · -70.0% on the quarter

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 7 new.

Revenue rose about 43% year over year: Revenue was $94.0 million against $65.9 million, up 42.7% (computed). Six-month revenue was $188.1 million against $138.2 million. Organic growth and the Comtrafo acquisition drove the increase.
Customer-requested acceleration lifted first half: Management attributed the growth to customer-requested accelerations in project deliveries through the first half of the fiscal year.
Second-quarter orders exceeded $95 million: Orders exceeded $95 million, driven mainly by traditional and renewable energy and by materials and utility customers.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	94.0	94.1	65.9	-0.0%	+42.8%
Cost of revenue	67.5	69.3	45.4	-2.7%	+48.6%
Gross profit	26.5	24.7	20.4	+7.3%	+29.8%
Gross margin	28.2%	26.3%	31.0%
Research and development	3.8	3.9	3.7	-3.9%	+1.1%
Selling, general and administrative	18.3	18.6	13.4	-1.9%	+36.2%
Operating income	5.4	9.8	3.0	-45.5%	+80.8%
Operating margin	5.7%	10.5%	4.5%
Pre-tax income	6.4	10.8	4.9	-40.5%	+31.4%
Income tax	3.4	1.3	0.1	+169.0%	+2,801.7%
Effective tax rate	53.1%	11.7%	2.4%
Net income	3.0	9.5	4.8	-68.4%	-36.9%
Net margin	3.2%	10.1%	7.2%
Diluted EPS	$0.06	$0.20	$0.11	-70.0%	-45.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	n/a	16.0	6.5
Capital expenditure	n/a	10.4	1.4
Free cash flow	n/a	5.6	5.1
Free cash flow margin	n/a	5.9%	7.7%
Cash from investing	n/a	-10.5	-1.4
Cash from financing	n/a	0.0	0.2
Depreciation and amortisation	2.6	2.6	0.9	-2.4%	+187.0%
Share-based compensation	6.5	5.3	3.8	+23.8%	+73.0%
Diluted shares, weighted	47m	47m	44m	-0.2%	+6.4%
Shares outstanding at period end	48m	48m	45m	+0.0%	+7.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	582	572	342	+1.7%	+70.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	5.8	2.6	2.7	+127.1%	+117.7%
Other liabilities	187	187	101	-0.3%	+85.3%
Total liabilities and equity	775	762	446	+1.6%	+73.8%
Fixed assets	101	98.8	39.0	+2.1%	+158.9%
Goodwill	176	177	48.2	-0.2%	+266.1%
Intangible assets	11.7	12.7	5.2	-7.7%	+123.2%
Cash and equivalents	170	144	213	+18.2%	-20.2%
Receivables	66.4	80.7	39.9	-17.8%	+66.4%
Inventory	98.2	98.0	75.5	+0.2%	+30.1%
Other assets	151	152	25.0	-0.2%	+504.6%
Total assets	775	762	446	+1.6%	+73.8%

Questions

What was American Superconductor's revenue in Q2 FY2027?

American Superconductor (AMSC) reported revenue of $94 million for Q2 FY2027, the quarter ended 30 September 2026, up 42.8% on the same quarter a year earlier.

How much did American Superconductor earn in Q2 FY2027?

Net income for Q2 FY2027 was $3 million, down 36.9% on the year, and diluted earnings per share $0.06.

When did American Superconductor report Q2 FY2027 results?

American Superconductor filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	26.8	28.3	22.7	27.7	23.9	31.7	30.3	34.0	39.4	42.0	40.3	54.5	61.4	66.7	72.4	65.9	74.5	86.4	94.1	94.0
Cost of revenue	23.2	25.0	20.5	25.7	23.4	27.9	24.0	25.4	29.4	31.6	28.1	38.9	45.1	49.0	47.9	45.4	51.7	62.8	69.3	67.5
Gross profit	3.6	3.3	2.2	2.0	0.5	3.8	6.3	8.6	10.0	10.4	12.2	15.6	16.3	17.7	24.5	20.4	22.9	23.6	24.7	26.5
Gross margin	13%	12%	10%	7%	2%	12%	21%	25%	25%	25%	30%	29%	27%	27%	34%	31%	31%	27%	26%	28%
R&D	2.7	2.1	2.7	2.3	2.1	1.9	1.9	1.6	2.2	2.3	2.3	2.6	3.0	3.5	4.3	3.7	3.5	4.2	3.9	3.8
SG&A	6.8	6.9	7.6	7.3	7.2	6.6	7.9	7.9	7.8	8.0	8.9	10.5	11.6	12.1	14.2	13.4	15.4	14.6	18.6	18.3
Operating income	-4.4	-4.9	-8.9	-8.1	-9.2	-6.8	-5.3	-2.4	-1.4	-2.2	-3.3	-0.8	1.3	1.7	5.6	3.0	3.4	-0.5	9.8	5.4
Operating margin	-16%	-17%	-39%	-29%	-39%	-22%	-18%	-7%	-4%	-5%	-8%	-1%	2%	2%	8%	5%	5%	-1%	10%	6%
Pre-tax income	-4.3	-4.9	-8.7	-9.9	-9.5	-6.8	-5.3	-2.4	-1.6	-1.6	-2.3	-0.1	2.4	2.4	6.9	4.9	5.4	-0.5	10.8	6.4
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-3%	50%	3%	2%	-2068%	n/a	12%	53%
Net income	-4.3	-5.0	-8.7	-9.9	-9.6	-6.9	-5.4	-2.5	-1.6	-1.6	-2.5	4.9	2.5	1.2	6.7	4.8	118	4.5	9.5	3.0
Net margin	-16%	-18%	-38%	-36%	-40%	-22%	-18%	-7%	-4%	-4%	-6%	9%	4%	2%	9%	7%	158%	5%	10%	3%
Diluted EPS	-$0.16	-$0.19	-$0.32	-$0.35	-$0.34	-$0.25	-$0.19	-$0.09	-$0.06	-$0.05	-$0.07	$0.13	$0.06	$0.03	$0.17	$0.11	$2.62	$0.10	$0.20	$0.06
Operating cash flow	-4.2	-3.1	-5.9	-5.7	-5.5	-5.4	-2.2	0.9	1.3	2.2	-3.4	19.5	5.9	6.3	4.1	6.5	3.2	9.3	16.0	n/a
Capital expenditure	0.2	0.2	0.4	0.1	0.4	0.3	0.2	0.2	0.2	0.3	0.3	0.6	0.5	1.0	0.8	1.4	0.9	1.8	10.4	n/a
Free cash flow	-4.4	-3.3	-6.3	-5.8	-5.9	-5.7	-2.5	0.7	1.0	1.9	-3.7	18.9	5.3	5.3	3.3	5.1	2.4	7.5	5.6	n/a
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a
Shares outstanding	28m	29m	29m	29m	30m	30m	30m	30m	31m	37m	38m	39m	39m	39m	45m	45m	48m	48m	48m	48m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.