Movers and SHAKERS
Capstone Green Energy (CGRN)
Results In Line - Shift In Company Focus Is Exciting
Capstone Green Energy Corp is the producer of low-emission microturbine systems.The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine's products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
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Results were generally in line with expectations. Capstone reported revenues of $17.9 million for the quarter (up 16% sequentially and 54% yoy) versus our $18.0 million estimate. Adjusted EBITDA was $(1.9) million versus our estimate of $(1.1) million. The company's cash position rose to $49.5 million from $15.1 million at the end of last year. Bookings rose to $12.7 million topping off a steady quarter-by-quarter climb over the last four quarters.
Capstone is repositioning to be a broader company. The change started with a change in the company's name on Earth Day to Capstone Green Energy Corporation from Capstone Turbine. Management took a further step today by announcing an expansion in the number of its operating divisions. New operating divisions are Energy As A Service, Energy Conversion, Energy Storage Solutions, and Hydrogen & ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.