Power Solutions Soars After Beat, Assuaged Going Concern Doubt

Power Solutions International, a manufacturer of engines for forklifts and data centers, climbs 23% premarket after second-quarter sales soared from the year-ago period and beat estimates.

• The company amended its revolving credit agreement in July to secure a revolving loan through a syndicate of banks; the refinancing strengthened the company’s capital structure — and with improved financial performance — allowed Power Solutions to remove substantial doubt about its ability to continue as a going concern
• 2Q sales climbed 74% from the year-ago period
• Management said it is prioritizing the rapidly expanding data center sector by enhancing its manufacturing capacity ...