American Superconductor Corporation (AMSC) stock surged 13.75% in the pre-market trading session on Thursday, following the company's impressive financial performance for the third quarter of fiscal year 2024 and an optimistic outlook for the upcoming quarter.

The wind turbine component maker reported a 56% year-over-year increase in revenue to $61.4 million, driven by organic growth and the acquisition of NWL, Inc. Furthermore, AMSC achieved a net income of $2.5 million or $0.07 per share, marking a significant improvement from the net loss reported in the same period last year. The company's non-GAAP net income of $6.0 million or $0.16 per share surpassed analysts' estimates of $0.07 per share.

Notably, AMSC provided an upbeat outlook for the fourth quarter, projecting revenues in the range of $59.0 million to $63.0 million, and non-GAAP net income exceeding $2.5 million or $0.07 per share. The strong financial performance and positive guidance, coupled with robust cash flow generation during the quarter, have contributed to the stock's pre-market surge.