Power Solutions International Inc (PSIX) Financial Statements (2024 and earlier)

Company Profile

Business Address 201 MITTEL DRIVE
WOOD DALE, IL 60191
State of Incorp. IL
Fiscal Year End December 31
Industry (SIC) 351 - Engines And Turbines (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments22,75824,2966,25520,968354
Cash and cash equivalents22,75824,2966,25520,968354
Restricted cash and investments3,8363,6043,4773,299  
Receivables67,52990,44969,38663,856105,57087,444
Inventory, net of allowances, customer advances and progress billings84,947120,560142,192108,213108,839105,614
Inventory84,947120,560142,192108,213108,839105,614
Prepaid expense      3,260
Contract with customer, asset, after allowance for credit loss     2,926
Other current assets      742
Other undisclosed current assets26,31216,3648,9186,3518,11015,989
Total current assets:205,382255,273230,228202,687222,522216,029
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization144225364568 
Operating lease, right-of-use asset27,14513,28213,54517,104 
Property, plant and equipment     23,19424,266
Intangible assets, net (including goodwill)33,74935,49537,61940,15443,20746,845
Goodwill29,83529,83529,83529,83529,83529,835
Intangible assets, net (excluding goodwill)3,9145,6607,78410,31913,37217,010
Other noncurrent assets3,0992,01915,34720,95524,7492,742
Other undisclosed noncurrent assets14,78413,6193,4352,509  
Total noncurrent assets:78,92164,64070,31081,29091,15073,853
TOTAL ASSETS:284,303319,913300,538283,977313,672289,882
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities99,354110,539128,057124,989141,865130,918
Interest and dividends payable 895  
Accounts payable67,35576,43093,25631,54775,83585,218
Accrued liabilities31,99934,10934,80192,54766,03045,700
Deferred revenue    47,960 
Debt    51019554,613
Derivative instruments and hedges, liabilities      35,100
Other undisclosed current liabilities148,947208,728155,25466,01739,527 
Total current liabilities:248,301319,267283,311239,476181,587220,631
Noncurrent Liabilities
Long-term debt and lease obligation1845,19925,89678155,65754,712
Long-term debt, excluding current maturities905,02925,63678155,65754,712
Finance lease, liability94170260  
Liabilities, other than long-term debt39,73525,81933,61437,62347,93133,117
Deferred revenue2,4013,1993,3303,18117,998
Deferred income tax liabilities1,4781,2781,0168861,105647
Other liabilities10,78610,37129,26833,55628,82832,470
Operating lease, liability25,07010,971   
Other undisclosed noncurrent liabilities   (260)   
Total noncurrent liabilities:39,91931,01859,25038,404103,58887,829
Total liabilities:288,220350,285342,561277,880285,175308,460
Temporary equity, carrying amount      39,300
Equity
Equity, attributable to parent(3,917)(30,372)(42,023)6,09728,497(18,578)
Common stock232323232319
Treasury stock, value(920)(972)(1,116)(1,294)(10,141)(9,849)
Additional paid in capital157,770157,673157,436157,262165,527126,412
Accumulated deficit(160,790)(187,096)(198,366)(149,894)(126,912)(135,160)
Other undisclosed equity      (39,300)
Total equity:(3,917)(30,372)(42,023)6,09728,497(57,878)
TOTAL LIABILITIES AND EQUITY:284,303319,913300,538283,977313,672289,882

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues458,973481,333456,255417,639546,076496,038
Cost of revenue
(Cost of Goods and Services Sold)
(353,109)(392,770)(414,984)(359,191)(446,188)(437,269)
Gross profit:105,86488,56341,27158,44899,88858,769
Operating expenses(61,589)(63,961)(82,841)(80,172)(82,685)(95,474)
Operating income (loss):44,27524,602(41,570)(21,724)17,203(36,705)
Nonoperating expense  (13,028)(7,308)(4,971)(8,546)(17,852)
Investment income, nonoperating     (1,352)(10,400)
Other nonoperating income (expense)   (1)1,240677176
Interest and debt expense(17,069)(13,028)(7,307)(497)(7,871)(7,628)
Income (loss) from continuing operations before equity method investments, income taxes:27,206(1,454)(56,185)(27,192)786(62,185)
Other undisclosed income from continuing operations before income taxes  13,0287,3074977,8717,628
Income (loss) from continuing operations before income taxes:27,20611,574(48,878)(26,695)8,657(54,557)
Income tax expense (benefit)(900)(304)4063,713(409)(169)
Income (loss) from continuing operations:26,30611,270(48,472)(22,982)8,248(54,726)
Income (loss) before gain (loss) on sale of properties:(48,472)(22,982)8,248(54,726)
Net income (loss) available to common stockholders, diluted:26,30611,270(48,472)(22,982)8,248(54,726)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):26,30611,270(48,472)(22,982)8,248(54,726)
Comprehensive income (loss), net of tax, attributable to parent:26,30611,270(48,472)(22,982)8,248(54,726)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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