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American Superconductor (AMSC) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 4, 2026
American Superconductor (AMSC) reported revenue of $74.5M for the third quarter fiscal 2026 (Q3 FY26), +21% from a year earlier and +13% from the quarter before. Operating margin was 4.5%, net earnings $118M (158.1% of revenue).
American Superconductor, Q3 FY26: revenue $74.5M (+21% year over year), operating margin 4.5%, net earnings $118M, operating cash flow $3.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $74.5M | +13% | +21% |
| Gross profit | $22.9M | +12% | +40% |
| Operating profit | $3.4M | +13% | +155% |
| Net earnings | $118M | 25× | 48× |
| Operating cash flow | $3.2M | -50% | -45% |
| Free cash flow | $2.4M | -54% | -56% |
What changed
Revenue was $74.5M in Q3 FY26, up 21% year over year and up 13% from the previous quarter. Grid was the largest line at 85% of revenue. Grid added $10.9M year over year (up 21%), 83% of the total change.
Gross margin was 30.7%, up 4.1 points from a year earlier. Operating profit was $3.4M, a 4.5% margin (up 2.4 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 2% margin then. Operating expenses grew 30% against revenue growth of 21%. The fastest-growing cost line was SG&A (+33%). Net earnings were $117.8M, up 4679% year over year. The tax line was a benefit of $112.4M on pre-tax earnings of $5.4M. Non-operating items added $2.1M, 38% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.2M (down 45% year over year), 3% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $119.4M. Capital expenditures of $893K left free cash flow of $2.4M.
Questions
What was American Superconductor's revenue in the third quarter fiscal 2026?
American Superconductor (AMSC) reported revenue of $74.5M for the third quarter fiscal 2026 (Q3 FY26), +21% from a year earlier and +13% from the quarter before.
Was American Superconductor profitable in the third quarter fiscal 2026?
Operating profit was $3.4M (4.5% of revenue) and net earnings $118M.