Welcome to our dedicated page for Powell Industries news (Ticker: POWL), a resource for investors and traders seeking the latest updates and insights on Powell Industries stock.
Powell Industries Inc. (NASDAQ: POWL) is a prominent United States-based company that specializes in the development, design, manufacturing, and servicing of custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. Headquartered in Houston, Texas, Powell Industries serves a variety of heavy industrial markets including oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and many more.
The company's product portfolio is extensive and includes integrated power control room substations, custom-engineered modules, electrical houses, and both traditional and arc-resistant distribution switchgear and control gear. These products are crucial for managing electrical energy safely and efficiently across various industrial applications.
Core Values and Business Philosophy
Powell Industries is driven by core values that prioritize the customer first, respect for employees, continuous improvement, and a 'can-do' attitude. This philosophy is evident in every aspect of their operations from product development to customer service.
Innovations and Offerings
Beyond traditional products, Powell Industries offers cutting-edge automation systems designed to enhance overall system safety. They also provide comprehensive electrical and valve servicing solutions. These innovations are integral to maintaining the reliability and efficiency of industrial electrical systems.
Recent Achievements and Financial Performance
In recent news, Powell Industries announced exceptional financial results for the fiscal third quarter ended June 30, 2023. The company recorded new orders exceeding $500 million for the second consecutive quarter, including significant greenfield LNG projects on the Gulf Coast. With a backlog reaching a record $1.3 billion, Powell Industries has shown robust growth and solid project execution.
Financially, Powell Industries reported revenues of $192.4 million in the third fiscal quarter, marking a 42% increase compared to the same period last year. Gross profit also saw a substantial rise, reaching $42.7 million with a gross margin of 22.2%.
Future Outlook
The company anticipates continued strength across its core markets into fiscal 2024. With a healthy backlog and a strong balance sheet, Powell Industries is well-positioned to continue its growth trajectory. The company's strategic initiatives focus on operational excellence and market diversification, aiming to leverage opportunities in both traditional and newer sectors.
Powell Industries is committed to being a reliable partner for its customers by providing innovative, engineered electrical power solutions and services. For more information, please visit powellind.com.
On January 31, 2023, Powell Industries announced its fiscal 2023 first-quarter results, reporting revenues of $127 million, a 19% increase from the previous year. The company's backlog reached a record $680 million, a 63% increase year-over-year. New orders totaled $212 million, significantly up from $108 million last year. Net income stood at $1 million, or $0.10 per diluted share. The company cited strong performance in its Oil, Gas & Petrochemical markets and expressed optimism for continued growth in fiscal 2023, supported by a robust backlog and improved market conditions.
Powell Industries (NASDAQ: POWL) announced a 1% increase in its quarterly cash dividend to
Powell Industries, Inc. (NASDAQ: POWL) will release its fiscal first quarter results for the period ending December 31, 2022, on January 31, 2023, after market close. A live conference call is scheduled for February 1, 2023, at 11:00 a.m. ET, accessible via phone or the company's website. A telephonic replay will be available until February 8, 2023. Powell Industries specializes in custom-engineered solutions for electrical energy management, serving various industrial sectors including utilities and petrochemicals. For further details, visit powellind.com.
Powell Industries, Inc. (NASDAQ: POWL) reported a strong fiscal 2022 performance, with fourth-quarter revenues of $163 million, up 26% year-over-year. Net income reached $9 million ($0.73 per diluted share), benefiting from a cost recovery. For the full year, revenues totaled $533 million, a 13% increase, with net income at $14 million ($1.15 per diluted share). New orders surged 78% to $719 million, and backlog hit a record $592 million, reflecting strong market activity, particularly in Oil, Gas & Petrochemical sectors. The company anticipates continued growth in fiscal 2023.
Powell Industries, Inc. (NASDAQ: POWL) has declared a quarterly cash dividend of $0.26 per share, payable on December 14, 2022. Shareholders of record by November 16, 2022 will be eligible for this dividend. Powell specializes in custom-engineered solutions for the management and distribution of electrical energy across various industries, including utilities and oil and gas. This dividend announcement reflects the company's ongoing commitment to returning value to shareholders.
Powell Industries, Inc. (NASDAQ: POWL) reported a strong fiscal Q3 2022, with revenues reaching $135 million and net income of $9 million, or $0.76 per diluted share. This includes gains from the sale of a non-core division and a tax benefit, contributing significantly to net income. New orders totaled $202 million, marking a two-year high and a backlog of $503 million was recorded. The company is optimistic about continued recovery in its industrial markets, despite supply chain challenges.
Powell Industries (NASDAQ: POWL) has declared a quarterly cash dividend of $0.26 per share on its common stock. This dividend is payable on September 21, 2022, to shareholders on record by August 17, 2022. The company is noted for providing custom-engineered solutions for electrical energy management and services various industries, including utilities and oil and gas. For more details, visit powellind.com.
Powell Industries, Inc. (NASDAQ: POWL) has scheduled its fiscal 2022 third-quarter earnings release for August 2, 2022, after the market closes. Following this, a conference call will be held on August 3, 2022, at 11:00 a.m. ET, accessible via phone or through the company's website. This call will provide insights into the company's financial performance, including earnings and revenue details. A replay of the call will be available until August 10, 2022, for those unable to attend the live session.
Powell Industries reported fiscal Q2 2022 results with revenues of $128 million, showing a year-over-year growth compared to $118.7 million in Q2 2021. The net loss for the quarter was $1.2 million, or $0.10 per diluted share, an improvement from the previous quarter's loss of $2.8 million. New orders reached $151 million, reflecting a 6% growth in backlog totaling $440 million. The company is optimistic about recovery in core markets and expects profitability to improve further in the second half of fiscal 2022.
Powell Industries (NASDAQ: POWL) has declared a quarterly cash dividend of $0.26 per share, payable on June 15, 2022, to shareholders of record by May 18, 2022. This dividend reflects the company's commitment to returning value to shareholders as a leading provider of custom-engineered solutions for electrical energy management. Powell serves diverse markets, including utilities and industrial sectors.
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