Power Solutions International, Inc. reported record financial results for the fourth quarter and full year ended December 31, 2024. Fourth-quarter net sales reached $144.3 million, a 38% increase from the prior year, driven by a $41.0 million sales increase in the power systems end market.
Net income for the fourth quarter was $23.3 million, up 178% from $8.4 million in Q4 2023, with diluted earnings per share of $1.01. For the full year 2024, net sales were $476.0 million, a 4% increase, and net income was $69.3 million, up 163% from 2023, with diluted EPS of $3.01.
The company generated $62.4 million in cash flow from operating activities in 2024 and reduced total debt to $120.2 million by December 31, 2024, from $145.2 million at the end of 2023. Management anticipates an increase in sales for 2025, primarily from the power systems market, while industrial and transportation markets are projected to remain flat.
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