Power Solutions International, Inc. Provides Earnings Guidance for the Full Year of Fiscal 2021
March 30, 2021 at 10:35 pm
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Power Solutions International, Inc. provided earnings guidance for the full year of fiscal 2021. The Company expects its sales for the full year of 2021 to be at least 15% above 2020 levels as a result of anticipated growth across all of its end markets. The growth is projected to occur in the second, third and fourth quarters of 2021, as compared to the corresponding 2020 quarters. Additionally, profitability is expected to improve during 2021 on a year-over-year basis. Notwithstanding this positive outlook, which is being driven in part by expectations for improved economic conditions within the United States and across various of the Company’s markets, the Company cautions that significant uncertainty still remains as a result of the ongoing COVID-19 pandemic.
Power Solutions International, Inc. designs, engineers, manufactures, markets and sells a broad range of advanced, emission-certified engines and power systems that are powered by a wide variety of clean, alternative fuels, including natural gas, propane, and biofuels, as well as gasoline and diesel options, within the power systems, industrial and transportation end markets. The Companyâs products are primarily used by global original equipment manufacturers (OEMs) and end user customers. The Companyâs products include power systems, electric power generation (gensets), large custom genset enclosures, mobile and stationary gensets for: emergency standby, rental, prime power, demand response, microgrid, oil and gas, data center, renewable energy resiliency (wind, solar, storage), combined heat and power (CHP), industrial material handling, agricultural/arbor care, irrigation/pumps, construction, compressors, wood chippers, stump grinders, and sweepers/industrial scrubbers.