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.
Powell Industries, Inc. (NASDAQ: POWL) will report its fiscal second quarter results for the period ending March 31, 2022, on May 3, 2022, post-market. A conference call is scheduled for May 4, 2022, at 11:00 AM ET, accessible via phone and online. Powell Industries specializes in custom-engineered solutions for electrical energy management, serving sectors such as utilities and oil and gas. The call will provide insights into the company's performance and future outlook.
Powell Industries (NASDAQ: POWL) reported a net loss of $2.8 million, or $0.24 per diluted share, for Q1 FY2022. Revenues were $107 million, consistent with Q1 FY2021 but down from $129.5 million in Q4 FY2021. New orders totaled $108 million, with a backlog of $416 million. Despite inflation impacting gross margins, the company sees steady recovery in its core industrial markets. CFO Michael Metcalf noted cautious optimism for continued recovery while managing inflationary pressures and maintaining a strong balance sheet.
On February 1, 2022, Powell Industries declared a quarterly cash dividend of $0.26 per share on its common stock. This dividend will be payable on March 16, 2022 to shareholders of record by the close of business on February 16, 2022. Powell Industries, based in Houston, specializes in custom-engineered solutions for the management and distribution of electrical energy, catering to large industrial clients including utilities and petrochemical plants.
Powell Industries (NASDAQ: POWL) will release its fiscal first quarter results on February 8, 2022, after market close. A conference call is scheduled for February 9, 2022, at 11:00 AM ET, available via phone and online. The company specializes in custom-engineered solutions for electrical energy management and serves large industrial clients, including utilities and petrochemical producers. The teleconference replay will be available until February 16, 2022, along with an archived webcast on their website.
Powell Industries, Inc. (NASDAQ: POWL) reported its fiscal 2021 results, highlighting a fourth quarter revenue of $130 million and net income of $3.3 million or $0.28 per diluted share. For the full year, revenues reached $471 million with a net income of $0.6 million or $0.05 per diluted share. New orders in Q4 increased to $121 million, contributing to a backlog of $415 million. CEO Brett A. Cope emphasized a strong finish despite challenges, while CFO Michael Metcalf projected improving profitability in the second half of fiscal 2022 amidst ongoing supply chain issues.
Powell Industries (NASDAQ: POWL) will release its fiscal fourth quarter results for the period ending September 30, 2021 on December 7, 2021, after market close. A conference call to discuss the results is scheduled for December 8, 2021, at 11:00 a.m. ET, accessible via phone or online. The call will be archived for later access until December 15, 2021. Powell Industries specializes in custom-engineered solutions for the distribution and control of electrical energy, serving sectors like utilities and oil and gas.
Powell Industries, Inc. (NASDAQ: POWL) announced a quarterly cash dividend of $0.26 per share, payable on December 15, 2021, to shareholders of record by the close of business on November 17, 2021. The company, based in Houston, specializes in custom-engineered solutions for managing and distributing electrical energy, serving sectors including utilities, oil and gas, and manufacturing. This dividend marks a commitment to returning value to shareholders amidst its operational activities in diverse industrial markets.
Powell Industries (NASDAQ: POWL) reported third-quarter fiscal 2021 results, revealing revenues of $116 million, a net loss of $2 million or $0.17 per diluted share, and a backlog of $426 million as of June 30, 2021. New orders increased to $103 million, showing improvement from previous quarters. Revenue from Traction and Utility segments grew significantly by 52% and 57%, respectively. The company remains cautious due to inflationary pressures on commodities and operating activity levels but is optimistic about stabilization in key markets.
Powell Industries, Inc. (NASDAQ: POWL) has announced a quarterly cash dividend of $0.26 per share, payable on September 15, 2021. Shareholders of record as of August 18, 2021 are eligible to receive this dividend. Powell Industries specializes in engineered solutions for the management and distribution of electrical energy, catering to large industrial clients including utilities and oil producers. This dividend declaration reflects the company's commitment to returning value to its shareholders.
Powell Industries (NASDAQ: POWL) will release its fiscal third quarter results for the period ending June 30, 2021, on August 3, 2021, after market close. A conference call to discuss the results is scheduled for August 4, 2021, at 11:00 a.m. ET, accessible via phone or online. The company specializes in custom-engineered solutions for the management and distribution of electrical energy, serving sectors such as utilities and oil & gas.
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