Pioneer Power Solutions, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:05 pm EST
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Pioneer Power Solutions, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 12.44 million compared to USD 6.25 million a year ago. Net income was USD 1.02 million compared to net loss of USD 1.31 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to diluted loss per share from continuing operations of USD 0.13 a year ago.
For the nine months, sales was USD 33.08 million compared to USD 17.48 million a year ago. Net income was USD 0.827 million compared to net loss of USD 4.59 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 0.47 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.47 a year ago.
Pioneer Power Solutions, Inc. designs, manufactures, integrates, refurbishes, services, distributes electric power systems, distributed energy resources, used and new power generation equipment and mobile electric vehicle (EV) charging solutions. Its products and services are sold to a broad range of customers in the utility, industrial and commercial markets. It operates through two segments: Transmission & Distribution Solutions (T&D Solutions) and Critical Power Solutions (Critical Power). Its T&D Solutions business provides equipment solutions, including e-Bloc, that help customers protect, control, transfer, monitor and manage their electric energy requirements. Its solutions are marketed principally through its Pioneer Custom Electrical Products Corp. (PCEP) brand name. Its Critical Power business provides customers with suite of mobile E-BOOST EV charging solutions, and all forms of maintenance on power generation equipment. Its products are marketed under Titan brand.
PIONEER POWER SOLUTIONS, INC. 
