PSIX News & Events

Reports Q1 revenue $128.59M, consensus $160.8M. Dino Xykis, Chief Executive Officer, said: "Our first quarter results were below the strong prior-year period, which had benefited from significant growth in our Power Systems business. The year-over-year declines in sales and profitability primarily reflected softer oil and gas demand, the timing of certain Power Systems shipments, and elevated production costs associated with the capacity ramp-up in our Wisconsin operations. At the same time, demand related to data center applications remains solid. Gross margin improved sequentially from the fourth quarter of 2025, partially offset by unfavorable product mix."

Given ongoing variability in order timing and market conditions, the company is not providing formal full-year guidance at this time. Based on current visibility, the company currently expects second-quarter 2026 revenue to be generally consistent with the first quarter on a sequential basis. The company anticipates stronger sales growth in the second half of 2026, approximately in line with sales in the second half of 2025, as larger Power Systems orders move into production and are recognized as revenue. However, the timing and ultimate volume of those shipments remain subject to customer scheduling, manufacturing throughput, supply chain factors and other variables. There can be no assurance that those orders will translate to a uniformly stronger second half. Continued softness in the oil and gas end market is expected to weigh on quarterly revenue trends, and capacity ramp-up activities at the company's Wisconsin operations and their related cost effects on gross margin are expected to continue.