American Superconductor Corporation (AMSC) stock surged 5.02% in the after-hours trading session on Wednesday following the company's impressive financial results for the third quarter of fiscal year 2024 and an optimistic outlook for the fourth quarter.

The key highlights from AMSC's Q3 earnings report include:

• Revenue increased by 56% year-over-year to $61.4 million, driven by organic growth and the acquisition of NWL, Inc.
• Net income of $2.5 million or $0.07 per share, compared to a net loss of $1.6 million in the same period last year.
• Non-GAAP net income of $6.0 million or $0.16 per share, exceeding analyst estimates of $0.07 per share.
• Strong cash flow generation, with nearly $6 million of operating cash flow.

For the upcoming fourth quarter, AMSC expects revenues to range between $59.0 million and $63.0 million, and non-GAAP net income to exceed $2.5 million or $0.07 per share. The company's solid performance and upbeat guidance fueled the after-hours rally in its stock price.