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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) has declared a quarterly cash dividend of $0.26 per share, payable on June 16, 2021. Shareholders of record on May 19, 2021 will receive this dividend. The company, based in Houston, specializes in custom-engineered solutions for managing, controlling, and distributing electrical energy, catering to industries including utilities, oil and gas, and mining.
Powell Industries, Inc. (NASDAQ: POWL) reported a net loss of $0.2 million for the fiscal 2021 second quarter, with revenues of $119 million, an 11% increase sequentially. The company’s backlog as of March 31, 2021, stood at $437 million, a 6% decline from the previous year. New orders totaled $89 million, consistent with the prior quarter but down from $301 million year-over-year. Cash and short-term investments were $154 million. The outlook remains cautious due to challenges in industrial markets, although positive growth is anticipated in utility and traction sectors.
Powell Industries, Inc. (NASDAQ: POWL) has announced the release of its fiscal second quarter results for the period ending March 31, 2021. The financial results will be disclosed on May 4, 2021, after market close. Following this, a live conference call is scheduled for May 5, 2021, at 11:00 a.m. ET, which will be accessible via phone or through the company's website. A telephonic replay will be available until May 12, 2021. Powell Industries is known for providing custom-engineered solutions for the management and distribution of electrical energy.
Powell Industries (NASDAQ: POWL) announced the retirement of Chairman Emeritus Thomas W. Powell, effective after the February 16, 2022, stockholders’ meeting. Powell's tenure spans over 50 years, including three terms as CEO. He emphasized the company's strong culture and values and expressed confidence in the executive management team led by Brett Cope. Cope acknowledged Powell's contributions to the company and highlighted Powell's resilience amid the COVID-19 pandemic. Powell Industries specializes in custom-engineered solutions for electrical energy management, serving a diverse range of industrial clients.
Powell Industries, Inc. (NASDAQ: POWL) has declared a quarterly cash dividend of $0.26 per share, payable on March 17, 2021. This dividend will be distributed to shareholders of record as of February 17, 2021. Based in Houston, Powell specializes in custom-engineered solutions for the management and distribution of electrical energy, serving industries such as utilities and oil and gas. This dividend declaration underscores the company's commitment to returning value to its shareholders.
Powell Industries reported fiscal Q1 2021 revenues of $107 million, down from $134.2 million in Q1 2020. The company incurred a net loss of $364,000 or $0.03 per diluted share. New orders totaled $91 million, a significant increase from $57 million in Q4 2020, yet lower than $137 million in Q1 2020. Backlog decreased to $465 million, a 2% decline from Q4 2020. Despite challenges in core markets, Powell remains optimistic about its backlog conversion and potential growth opportunities, especially in Utility and Traction sectors.
Powell Industries (NASDAQ: POWL) will release its fiscal first quarter results for the period ending December 31, 2020, on February 2, 2021, after market closure. A conference call for investors is scheduled for February 3, 2021, at 11:00 a.m. Eastern Time, where key financial metrics will be discussed. Investors can participate via phone or through a live webcast at Powell's website. A replay of the call will be available until February 10, 2021. Powell Industries specializes in custom-engineered solutions for electrical energy management, serving various large industrial clients.
Powell Industries reported fourth quarter revenues of $115 million for fiscal 2020, with a net income of $3.0 million or $0.25 per diluted share. The company's backlog decreased by 10% to $477 million, down from $532 million in the previous quarter. New orders totaled $57 million, significantly lower than prior periods. The CEO expressed confidence in managing through current market challenges while maintaining a strong balance sheet. The company anticipates a continued difficult industrial environment for fiscal 2021.
Powell Industries (NASDAQ: POWL) announced the release of its fiscal fourth quarter and full-year results for the year ended September 30, 2020, on December 8, 2020, after market close. A conference call will follow on December 9, 2020, at 11:00 a.m. ET, accessible via phone and live webcast. The company specializes in custom-engineered solutions for electrical energy management, serving major industrial sectors, including utilities and petrochemical plants. A replay of the call will be available until December 16, 2020.
Powell Industries, a leader in custom engineered solutions for electrical energy management, has declared a quarterly cash dividend of $0.26 per share. This dividend is payable on December 16, 2020, to shareholders of record by November 18, 2020. The company continues to serve large industrial markets, including utilities and oil and gas sectors, ensuring ongoing income streams for its investors.
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