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.
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Powell Industries, Inc. (NASDAQ: POWL) announced fiscal 2024 second quarter results with revenues of $255 million, a 49% increase. Gross profit improved to $63 million, net income reached $33 million, new orders were $235 million, and backlog stood at $1.3 billion. Revenues grew across various sectors, with strong performance in Oil and Gas and Petrochemical sectors. Despite a decline in new orders year-over-year due to large projects in the previous year, overall financial performance was robust.
Powell Industries, Inc. (NASDAQ: POWL) has declared a quarterly cash dividend of $0.2650 per share. The dividend will be payable on June 12, 2024, to stockholders of record as of May 15, 2024. Powell Industries is a top provider of custom engineered solutions for electrical energy management, control, and distribution.
