From GlobeNewswire: 2025-03-24 16:46:00

Power Solutions International, Inc. (PSI) reported record fourth quarter and full year 2024 financial results. Quarter sales reached $144.3 million, up 38% from the previous year, with a net income of $23.3 million, up 178%. Full year sales totaled $476.0 million, up 4%, with a net income of $69.3 million, up 163%. Cash flow from operating activities was $62.4 million in 2024. The company’s CEO highlighted increased demand from the power systems business, while the CFO emphasized the successful uplisting to the Nasdaq Stock Market. Sales growth was primarily driven by the power systems end market, with a strategic shift towards higher growth markets like data centers. Gross profit increased by 57% in the fourth quarter, driven by improved mix, pricing actions, and higher operating efficiencies. Selling, general and administrative expenses rose by 32% due to higher executive compensation and legal expenses. Net income for the fourth quarter was $23.3 million, with earnings per share of $1.01. The company’s cash and cash equivalents were approximately $55.3 million at the end of 2024, with total debt at $120.2 million. The company remains focused on reducing debt, improving the balance sheet, and exploring opportunities for long-term debt financing to support growth. For 2025, PSI anticipates increased sales driven by growth in the power systems market, especially in data centers, while sales in industrial and transportation markets are expected to remain flat. Geopolitical and macroeconomic uncertainties led to the decision not to provide specific sales growth guidance for 2025. Power Solutions International, Inc. is a leader in designing, engineering, and manufacturing emission-certified engines and power systems for various end markets. Non-GAAP financial measures, including Adjusted net income, EBITDA, and Adjusted EBITDA, provide insight into the company’s performance and are widely used by analysts, investors, and competitors in the industry. Adjusted net income, Adjusted net income per share – diluted, EBITDA, and Adjusted EBITDA are used by management to assess the company’s performance and for strategic planning and forecasting.



Read more at GlobeNewswire:: Power Solutions International Announces Record Fourth