Pioneer Power Solutions ( (PPSI) ) has released its Q4 earnings. Here is a breakdown of the information Pioneer Power Solutions presented to its investors.
Pioneer Power Solutions, Inc. is a company specializing in the design, manufacture, and integration of distributed energy resources, power generation equipment, and mobile electric vehicle charging solutions, serving utility, industrial, and commercial markets.
Pioneer Power Solutions announced its financial results for the fourth quarter and full year of 2024, highlighting significant revenue growth and strategic business developments. The company reported a full-year revenue increase of 106% and a diluted EPS of $2.90, alongside reaffirming its revenue guidance for 2025.
Key financial highlights include a fourth-quarter revenue of $9.8 million, marking a 265% increase from the previous year, and a gross profit of $2.8 million with a 29% gross margin. The company also reported a net income of $36.3 million for the quarter, largely driven by income from discontinued operations. For the full year, revenue reached $22.9 million, with a net income of $31.9 million, bolstered by the sale of its Electrical Infrastructure segment.
Strategically, Pioneer Power has made significant strides, including the sale of its Electrical Infrastructure business for $50 million, a renewed service agreement with a major U.S. retailer, and a pilot program with a Fortune 100 e-commerce retailer. The company also saw a substantial increase in its e-Boost mobile EV charging sessions.
Looking ahead, Pioneer Power Solutions maintains a positive outlook for 2025, with expected revenues between $27 million and $29 million, driven by its expanding e-Boost business and strategic partnerships. The company remains focused on leveraging its strengths in the growing distributed energy and EV charging markets.