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.
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.
Powell Industries, Inc. (NASDAQ: POWL) reported third-quarter results for fiscal 2020, with revenues of $118.1 million, down from $151.6 million in the previous quarter and $135.6 million year-over-year. Net income decreased to $3.5 million or $0.30 per diluted share, from $7.4 million or $0.64 per diluted share sequentially. The company faced $1.2 million in restructuring costs but gained $1.7 million from tax benefits. New orders totaled $81 million, down from $145 million a year ago, while backlog stood at $532 million, up from $407 million last year.
Powell Industries has declared a quarterly cash dividend of $0.26 per share on its common stock. This dividend will be paid on September 16, 2020, to shareholders who are on record as of the close of business on August 19, 2020. Powell Industries is recognized for supplying custom-engineered solutions for the management and distribution of electrical energy, serving large industrial sectors including utilities, oil and gas, and mining operations.
Powell Industries, Inc. (NASDAQ: POWL) will release its fiscal 2020 third quarter results on August 4, 2020 after market close. A conference call discussing the results is scheduled for August 5, 2020 at 11:00 a.m. ET. Investors can participate via phone or through a webcast available at powellind.com. A replay will be accessible until August 12, 2020. Powell Industries specializes in custom-engineered solutions for electrical energy management, serving various industrial sectors.
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