10-K · April 30, 2026
Power Solutions International, Inc. (PSIX) reported significant revenue growth in 2025, achieving $191 million in Q4 2025, a 51.8% increase year-over-year. Despite these gains, the company faced challenges with…
Earnings analysis · 10-Q
PSIX earnings analysis
Filed May 11, 2026 · Our reading of the company's report
The latest report
Power Solutions International, Inc. (PSIX) reported a decline in revenue to $128.6 million for Q1 2026, down 5% from $135.4 million in the prior year. The decreased sales were attributed mainly to a drop in the power…
Read full summary
Power Solutions International, Inc. (PSIX) reported a decline in revenue to $128.6 million for Q1 2026, down 5% from $135.4 million in the prior year. The decreased sales were attributed mainly to a drop in the power systems end market, with net income falling by 62% compared to the prior year, resulting in an EPS of $0.32, a significant decrease of 61%.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.32
- Segment
- Power Systems
- Segment
- Industrial
- Segment
- Transportation
What stood out
-
Revenue Decline
Q1 2026 revenue was $128.6 million, down 5% from $135.4 million in Q1 2025.
-
Significant Drop in Net Income
Net income dropped to $7.3 million in Q1 2026 from $19.1 million in Q1 2025, a 62% decline.
-
Lower Gross Margin
Gross margin decreased to 22.9% in Q1 2026 from 29.7% in the same period last year.
-
Increased Operating Cash Flow
Net cash provided by operating activities increased to $19.1 million in Q1 2026 from $8.8 million in Q1 2025.
-
Decrease in Capital Expenditures
Capital expenditures were $1.9 million in Q1 2026, down from $3.4 million in Q1 2025, a 44% decrease.
-
Improved Cash Position
Cash increased by $4.6 million in Q1 2026 compared to a decrease of $4.8 million in Q1 2025.
What to watch
-
Softness in Oil and Gas Market
Sales in the power systems end market declined by $10.2 million due to ongoing weakness in the oil and gas sector.
-
Geopolitical and Economic Uncertainty
Potential adverse impacts from economic uncertainties, particularly related to geopolitical factors.
-
High Operating Expenses
Research and development expenses increased by 13% to $4.8 million, pressuring margins amid reduced sales.
Management's outlook
Management expects Q2 2026 revenue to be consistent with Q1 2026 levels, anticipating stronger growth in second-half 2026.
Earlier filings 4
10-K · March 2, 2026
Power Solutions (PSIX) positions itself as a fuel‑agnostic, engineering‑led supplier of engines and packaged power systems, targeting growth in heavy‑duty engines, data center backup, microgrids and aftermarket parts.…
10-Q · November 6, 2025
Power Solutions (PSIX) delivered a strong Q3 with revenue of $203.829 million (up from $125.842 million a year ago) and diluted EPS of $1.20 (vs $0.75 prior year), both beating consensus. Margins compressed (gross…
10-K · March 24, 2025
Power Solutions International, Inc. reported mixed earnings results for the fiscal year ended December 31, 2024, achieving significant revenue growth and solidifying its strategic direction in clean energy solutions.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.