Latest news with #powerSolutions
Associated Press
5 days ago
- Business
- Associated Press
JTS Opens Second Idaho Facility, Creating 140 New Jobs and Expanding U.S. Manufacturing Footprint
NAMPA, Idaho and MCKINNEY, Texas, June 02, 2025 (GLOBE NEWSWIRE) -- JTS, a Mission Critical Group (MCG) Company, today announced the opening of a new 172,000-square-foot advanced manufacturing facility on 14 acres in Nampa, Idaho, known as JTS Nampa 1. The $55 million investment adds 140 jobs, doubles the company's production capacity and supports long-term economic growth in the region. MCG's U.S.-based manufacturing footprint now exceeds 1 million square feet, reinforcing its commitment to building critical power infrastructure in America. 'This expansion marks a pivotal moment for JTS and the customers we serve,' said Greg Blake, President of JTS. 'We're doubling our capacity and accelerating our ability to deliver innovative, high-quality power solutions that keep critical infrastructure running. We're proud to invest in the community and drive the next chapter of American manufacturing here in Idaho.' JTS now operates three locations – Caldwell, ID; Nampa, ID; and Abilene, TX – to support its growing customer base with fully integrated generator enclosures and modular power systems. JTS Nampa 1, located near the Caldwell facility, shares resources to maximize efficiency and was built using LEAN manufacturing principles to streamline operations. 'The new Nampa facility is more than an expansion – it's a milestone in our mission to shape the future of American manufacturing,' said Jeff Drees, CEO of Mission Critical Group. 'It strengthens our ability to serve data centers, hospitals, utilities and other critical infrastructure with dependable power solutions. We're also proud that our shared ownership model gives employees a real stake in our success, aligning our growth with the prosperity of the people who power it.' Due to ongoing investments in data centers, infrastructure and advanced technologies, the nation's electricity demand is expected to increase by over 50% by 2050. Meeting this growing energy need will require innovative and resilient power and electrical system solutions. JTS Nampa 1 enables MCG to meet this rising demand. Nampa Mayor Debbie Kling added, 'We're proud to welcome JTS's new facility to Nampa. This investment brings 140 quality jobs to our city and strengthens our local economy. It's a great example of how strategic partnerships and innovation can fuel lasting impact in our community.' A grand opening and ribbon-cutting celebration will take place at the JTS Nampa 1 facility on June 17, 2025, from 12:00 to 3:30 PM MT, with remarks, tours and more. For details, click here. For more information on JTS, MCG, or the new JTS Nampa 1 facility, visit About Mission Critical Group Mission Critical Group (MCG) designs, manufactures, delivers and services innovative solutions to solve our customers' critical power challenges. MCG offers packaged power solutions and products, leveraging over 900 employees with 200+ years of combined mission critical staff leadership experience. Operating across over one million square feet of manufacturing space, MCG is ready to effectively meet evolving industry demands. MCG Companies include JTS, Point Eight Power and DVM Power + Control. For more information, please visit Media Contact: Laura Noland [email protected] 407-341-2512
Yahoo
20-05-2025
- Business
- Yahoo
Pioneer Power Solutions Inc (PPSI) Q1 2025 Earnings Call Highlights: Revenue Surge Amidst ...
Revenue: $6.7 million in Q1 2025, up 103% from $3.3 million in Q1 2024. Gross Profit: $148,000 in Q1 2025, down from $535,000 in Q1 2024. Gross Margin: Approximately 2% in Q1 2025, compared to 16% in Q1 2024. Operating Loss from Continuing Operations: $2.3 million in Q1 2025, compared to $1.7 million in Q1 2024. Non-GAAP Operating Loss from Continuing Operations: $989,000 in Q1 2025, compared to $319,000 in Q1 2024. Net Loss from Continuing Operations: $2.1 million in Q1 2025, compared to $1.7 million in Q1 2024. Cash on Hand: $25.8 million as of March 31, 2025, down from $41.6 million as of December 31, 2024. Working Capital: $26.2 million as of March 31, 2025, compared to $26.7 million as of December 31, 2024. Backlog: $23.2 million at the end of Q1 2025, an 18% increase from the prior quarter. Full Year 2025 Revenue Guidance: Reaffirmed at $27 million to $29 million. Warning! GuruFocus has detected 4 Warning Signs with PPSI. Release Date: May 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Pioneer Power Solutions Inc (NASDAQ:PPSI) reported a significant increase in first-quarter revenue, more than doubling to $6.7 million, driven by strong demand for their on-site power solutions. The company completed the initial delivery of 10 e-Boost units to a major public school district, marking a landmark order for mobile EV charging systems. PPSI's total backlog increased by 18% to $23.2 million, indicating strong future demand and a growing sales pipeline. The company is actively engaging with municipalities, transit authorities, and major national package delivery providers, expanding their market reach. PPSI is preparing to launch a new product, HOMe-Boost, which is expected to drive growth and innovation in the residential and light commercial energy markets. Pioneer Power Solutions Inc (NASDAQ:PPSI) experienced a decrease in gross profit margin to approximately 2% in the first quarter, down from 16% in the same quarter last year, due to higher initial costs of the e-Boost units. The company reported an operating loss from continuing operations of $2.3 million, an increase from the $1.7 million loss in the previous year. PPSI's net loss from continuing operations increased to $2.1 million compared to $1.7 million in the first quarter of 2024. Cash on hand decreased significantly from $41.6 million at the end of 2024 to $25.8 million as of March 31, 2025, primarily due to a special cash dividend payment. The company faces challenges in scaling production and distribution, requiring reliance on channel partners and external manufacturers to meet demand. Q: On the margin in the quarter, how do you see margins recovering, and where do you think you can get the margins to for this product line? A: Nathan Mazurek, CEO: The margins in the last quarter were indicative of what we aim for, especially with the e-Boost product. The second half of the year should see better contributions as we are not overwhelmed by large orders. Margins should recover to something similar to the fourth quarter of last year. Q: Regarding the e-Boost pipeline, how do you characterize the current activity, and when do you need to close deals to impact 2026 revenue? A: Nathan Mazurek, CEO: By the end of June, we need to close deals to impact 2026 revenue. After that, most activities will be oriented towards 2026, except for smaller, less customized orders. Q: How is the HOMe-Boost pipeline shaping up, and when will you start seeing order flow? A: Nathan Mazurek, CEO: HOMe-Boost is still launching in the second half of the year. We are gearing up for a strong launch, and while it doesn't factor into our 2025 guidance, we hope to see order success in the second half of 2025 with deliveries in 2026. Q: Can HOMe-Boost work with solar panels for complete grid disconnection? A: Nathan Mazurek, CEO: Yes, HOMe-Boost can operate in island mode, allowing users to disconnect from the grid if they choose, as long as they have a natural gas connection. Q: Is e-Boost a temporary solution, and how long will this market last? A: Nathan Mazurek, CEO: The grid gap is expected to last for at least the next five years. Customers see value in the mobility and optionality of e-Boost, and even if they have grid connections, they often can't get enough power for fast charging, making e-Boost a viable solution. Q: How do you see your focus in 2026 with the growth of e-Boost and HOMe-Boost? A: Nathan Mazurek, CEO: HOMe-Boost is expected to be a significant focus, occupying about 50% of our management's attention. We believe it could be a larger and more profitable product, and we are preparing for its market introduction. Q: How is your distribution network evolving, especially with the introduction of HOMe-Boost? A: Nathan Mazurek, CEO: We use a mix of direct sales and channel partners to reach municipalities and businesses. For HOMe-Boost, we are exploring various distribution strategies and expect the market to guide us in optimizing our approach. Q: Is using e-Boost with an internal combustion engine still cost-effective compared to diesel? A: Nathan Mazurek, CEO: Yes, using natural gas with e-Boost is cheaper than diesel, both in terms of energy cost and emissions, making it a more sustainable option. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
