Welcome to our dedicated page for Powell Inds news (Ticker: POWL), a resource for investors and traders seeking the latest updates and insights on Powell Inds stock.
Powell Industries, Inc. (NASDAQ: POWL) is a Houston-based manufacturer that develops, designs, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy. News about Powell often centers on its performance as a supplier of custom-engineered solutions for the management, control and distribution of electrical energy across oil and gas, petrochemical, electric utility, commercial and other industrial markets.
On this page, readers can follow company announcements such as quarterly and full-year earnings results, which Powell regularly reports for its fiscal periods, along with details on revenues, gross profit, net income, new orders and backlog. The company also issues news about dividend declarations approved by its Board of Directors, providing updates on quarterly cash dividends on its common stock.
Powell’s news flow includes strategic and operational updates, such as investments to expand production capacity at its manufacturing facilities and agreements to acquire businesses that support its electrical automation platform. For example, Powell has announced a definitive agreement to acquire Remsdaq Ltd., a U.K.-based manufacturer of SCADA remote terminal units for electrical substation control and automation in generation, transmission and distribution, and has discussed investments to expand capacity at its Jacintoport manufacturing facility in Houston.
Investors and followers of POWL can also expect updates on end-market activity across sectors such as oil and gas, petrochemical, electric utilities, light rail traction power, and commercial and other industrial markets, as described in the company’s earnings releases. This news page helps readers track how Powell’s custom-engineered electrical distribution and control solutions are being applied in large industrial projects, including utilities, refineries, petrochemical plants, pulp and paper producers, mining operations and commuter railways.
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 $0.2625 per share, resulting in an annualized dividend of $1.05. This change reflects the company's successful performance in 2022 and enhanced confidence in future cash flows. The dividend is set to be paid on March 15, 2023, to shareholders on record by February 15, 2023. Powell's leadership emphasized a balanced approach to shareholder returns while maintaining liquidity for working capital and preserving a strong balance sheet.
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.