Catching Up On PowerSecure
Stephen Simpson, CFA
Stephen Simpson, CFA
Can PowerSecure's Odd Mix Generate Real Cash Flow?
Stephen Simpson, CFA
Stephen Simpson, CFA
PowerSecure's Breakout Year Continues
Thu, Feb. 25, 12:48 PM
Thu, Feb. 25, 9:12 AM| Thu, Feb. 25, 9:12 AM | 9 Comments
Wed, Feb. 24, 6:12 PM
- PowerSecure International (NYSE:POWR) +77.8% AH after agreeing to be acquired by Southern Co. (NYSE:SO) for $18.75/share in cash, a 90% premium to today's closing price.
- SO says it expects the ~$431M deal to expand its ability to provide customized energy products to customers.
- SO has been expanding through acquisitions, including its ~$12B deal for AGL Resources, which is expected to close in H2 of this year.
Wed, Feb. 24, 5:39 PM
Fri, Feb. 19, 5:39 PM
Jul. 15, 2015, 5:38 PM
Jul. 10, 2015, 2:41 PM
- PowerSecure (NYSE:POWR) "has been awarded $100 million in new solar projects, including a ground-mount system for one of the largest investor owned utilities (IOUs) in the United States."
- $15M of the revenue is expected to be recognized in Q4, and the rest in 2016. For reference, PowerSecure's 2015 and 2016 consensus revenue estimates are currently at $386.7M and $452.6M. The deals follow $120M worth of project awards obtained in mid-2014 from a major IOU client, and $30M worth of deals recently struck for microgrid and energy storage projects.
- Shares have jumped after coming off a halt. They're now up 28% YTD.
Jul. 10, 2015, 2:29 PM
May 13, 2015, 10:42 AM
- Citing increased confidence in management following the company's Q1 report, Maxim has upgraded PowerSecure (POWR +3.1%) to Buy, and set a $17 target.
- The maker of distributed power and utility infrastructure hardware/software is now up 12% since beating Q1 estimates and providing strong full-year guidance a week ago. Shares still only trade for 0.9x 2015E sales.
May 6, 2015, 3:31 PM
- Today's notable tech gainers include LED/chip equipment maker Aixtron (AIXG +6.7%), distributed power system/software firm PowerSecure (POWR +7.2%), cloud customer support software vendor Zendesk (ZEN +5%), and chip packaging IP firm Tessera (TSRA +4.9%).
- Notable decliners include LED giant Cree (CREE -4.2%), 3D printer maker ExOne (XONE -5.6%), big data/analytics software provider Hortonworks (HDP -5.7%), health site owner Everyday Health (EVDY -7.7%), and IP licensing firm WiLAN (WILN -6%). The Nasdaq is down 0.7%.
- PowerSecure is up after beating Q1 estimates on the back of major increases in Distributed Generation and Solar Energy segment sales. Zendesk is up after posting a Q1 beat and guiding for full-year revenue of $192M-$195M (above a $189.6M consensus). Tessera is rallying thanks to a Q1 beat and strong Q2 guidance (revenue of $62M-$64M and EPS of $0.47-$0.50 vs. a consensus of $$57.3M and $0.40).
- Cree is adding to the losses seen two weeks ago after it posted mixed results and light guidance. ExOne's drop comes after larger rival 3D Systems declined to provide guidance with its Q1 results. Everyday has been downgraded to Hold by Stifel. WiLAN is adding to last week's post-earnings losses.
- Previously covered: Zulily, Groupon, Axcelis, QuinStreet, Skullcandy, Millennial Media, LendingClub, TechTarget, Anadigics, Zagg, Cray, Enphase, Wix.com, Jive Software
Mar. 31, 2015, 3:11 PM
- Only a handful of tech companies are posting outsized gains or losses amid a 0.6% drop for the Nasdaq.
- Notable gainers include three Chinese firms: CDN owner ChinaCache (CCIH +18.8%), online classifieds provider 58.com (WUBA +7.1%), and online retailer LightInTheBox (LITB +5.9%). Others include hybrid storage array upstart Nimble Storage (NMBL +4.7%), distributed power system/software provider PowerSecure (POWR +5.8%), and 3D measurement/imaging hardware provider FARO Technologies (FARO +4%).
- Notable decliners include supercomputer maker Cray (CRAY -4.1%), data management software vendor Varonis (VRNS -3.9%), and local services marketplace Angie's List (ANGI -5.6%).
- ChinaCache is up 34% since posting Q4 results on Thursday afternoon. 58.com is up 14% from Wednesday's close. Nimble is a day removed from putting to rest a fraud/trade secret dispute with rival NetApp. Angie's List is down 7% over the last two days, following the launch of Amazon's Home Services platform.
- Oppenheimer's Holden Lewis recently called FARO his top pick, citing the growth potential of its laser scanner line. Today, FARO announced a new software product for Autodesk's Revit building information modeling software.
- Previously covered: Infinera, Elephant Talk, Dangdang, CyberArk, Zagg, MaxPoint, Spherix, 2U, SouFun/E-House/Leju
Mar. 17, 2015, 3:17 PM
- Today's notable tech gainers include 4G modem/M2M hardware provider Sierra Wireless (SWIR +4%), Chines online auto site Bitauto (BITA +5.3%), energy tech hardware provider PowerSecure (POWR +5.4%), Chinese analog/mixed-signal chipmaker Vimicro (VIMC +7.7%), and enterprise cloud healthcare software provider Castlight (CSLT +5.8%).
- Notable decliners include mobile banking tech developer Mitek (MITK -7.8%), Chinese online classifieds leader 58.com (WUBA -4%), Taiwanese chip packaging/testing services firm ChipMOS (IMOS -3.4%), and financial site TheStreet (TST -5.7%).
- Sierra had closed yesterday near its lowest levels since Feb. 9. Bitauto had fallen sharply over the last two weeks due to the spending/margin concerns triggered by its Q4 report. Beaten-down Castlight is adding to the Friday gains it saw after filing its 10-K. ChipMOS rallied strongly on Friday after posting a Q4 EPS beat.
- Previously covered: Universal Display, NeoPhotonics, Vivint, Rocket Fuel, Vasco, Micron, Veeva, Qunar/Ctrip, GoPro, Chinese solar stocks, Himax, ExOne, magicJack
Mar. 5, 2015, 5:37 PM
Nov. 5, 2014, 4:40 PM
- PowerSecure (NYSE:POWR): Q3 EPS of -$0.02 beats by $0.06.
- Revenue of $65.04M (-20.2% Y/Y) beats by $0.78M.
- Shares +1.81%.
Oct. 15, 2014, 2:18 PM
- PowerSecure (NYSE:POWR) says it has been "awarded approximately $14 million of new distributed generation (DG) business, approximately $9 million of new utility infrastructure (UI) business and approximately $2 million of new energy efficiency (EE) business."
- The company expects to recognize the orders "fairly evenly from the fourth quarter of 2014 through 2015." Altogether, PowerSecure says it has added $215M to its backlog over the last 3 months.
- In spite of a market rout, shares are adding to the Tuesday gains they saw following news of PowerSecure's acquisition of Power Design's data center energy services unit.
Oct. 14, 2014, 11:36 AM
- PowerSecure (NYSE:POWR) has acquired Power Design's data center energy services unit. The business provides design, installation, and commissioning services for a data center's electrical infrastructure.
- PowerSecure is paying $13M in cash + up to $2M in earn-outs. From Q3 2013 to Q2 2014, the business had revenue of $24M and op. income of $7.8M. That suggests PowerSecure is paying less than 0.7x sales.
- The deal is expected to be slightly dilutive to Q4 EPS, and "meaningfully accretive" to 2015 EPS.
- Thanks to the infrastructure demands of Internet giants and cloud service providers, data center construction activity is expected to remain brisk.
PowerSecure International, Inc. engages in the business of providing energy technologies and services to electric utilities and large industrial, commercial, institutional and municipal customers. It provides products and services through four reporting segments: Distributed Generation, Solar... More
Industry: Business Services
Country: United States
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