American Superconductor (NASDAQ: AMSC) stock tumbled an unlucky 7% through 11:05 a.m. ET Wednesday, despite "beating earnings" last night.

Heading into its fiscal Q1 2024, analysts forecast the green energy stock (which builds control systems for wind turbines and optimizes power lines for transmitting wind and solar power) would earn only $0.01 per share on sales of $39.3 million. In fact, American Superconductor earned $0.09 per share, and sales were $40.3 million.

That's the good news. The bad news is that the "$0.09" that American Superconductor supposedly earned was only a non-GAAP number. When earnings are calculated according to generally accepted accounting principles (GAAP), it actually lost $0.07 per share -- and that discovery may have discouraged investors today.

Continue reading

Source Fool.com