Powell Industries Announces Fourth Quarter and Full Year Fiscal 2025 Results
Rhea-AI Summary
Powell Industries (NASDAQ: POWL) reported fourth quarter and full year Fiscal 2025 results for the period ended September 30, 2025. Q4 revenue was $298.0M (+8% YoY) with gross profit $93.5M (31.4%, +16% YoY) and net income $51.4M or $4.22 per diluted share (+12% YoY). Full year revenue was $1.1B (+9% YoY) with gross profit $324.4M (29.4%, +19% YoY) and net income $180.7M or $14.86 per diluted share (+21% YoY). Backlog was $1.4B, cash and short-term investments were $476M, and new orders for the year totaled $1.2B (+9% YoY). The company completed the acquisition of Remsdaq Ltd. and reiterated confidence in Fiscal 2026 execution and margins.
Positive
- Net income +21% for FY2025 to $180.7M
- Gross profit +19% for FY2025 to $324.4M (29.4% margin)
- Light Rail traction revenue +87% for FY2025
- Completed acquisition of Remsdaq (SCADA RTU solutions)
Negative
- Petrochemical revenue down 19% for FY2025
- Q4 new orders declined ~25% vs Q3 (271M vs 362M)
News Market Reaction – POWL
On the day this news was published, POWL declined 11.31%, reflecting a significant negative market reaction. Argus tracked a trough of -20.5% from its starting point during tracking. Our momentum scanner triggered 39 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $524M from the company's valuation, bringing the market cap to $4.11B at that time. Trading volume was very high at 3.0x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the fourth quarter and full year Fiscal 2025 ended September 30, 2025. All comparisons are to the comparable periods of Fiscal 2024, unless otherwise noted.
Fourth Quarter Key Highlights:
- Revenues of
$298 million increased8% ; - Gross profit of
$94 million , or31.4% of revenue, increased16% ; - Net income of
$51 million , or$4.22 per diluted share, increased12% ; - New orders(1) totaled
$271 million , an increase of1% ; - Backlog(2) as of September 30, 2025 totaled
$1.4 billion , an increase of3% ; - Cash and short-term investments as of September 30, 2025 totaled
$476 million . - Completed the acquisition of Remsdaq Ltd., a U.K.-based manufacturer of SCADA Remote Terminal Units for electrical substation control and automation in generation, transmission and distribution.
Full Year Key Highlights:
- Revenues totaled
$1.1 billion , an increase of9% ; - Gross profit of
$324 million , or29.4% of revenue, increased19% ; - Net income of
$181 million , or$14.86 per diluted share, increased21% ; - New orders totaled
$1.2 billion , an increase of9% .
Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated, “Our fourth quarter marked a solid finish to another record year for Powell. We delivered gross profit dollar growth of
Fourth Quarter Fiscal 2025 Results
Revenues totaled
Gross profit of
New orders totaled
Backlog totaled
Net income of
Full Year Fiscal 2025 Results
Revenues totaled
Gross profit of
New orders totaled
Net income of
Cope added, “We remain encouraged as our funnel of opportunities across our markets remains very strong as we enter Fiscal 2026. Customer activity in the data center market remains highly encouraging as opportunities are growing in both size and volume as we expand our presence in this strategic market for Powell. Commercial activity continues to also enhance expanded opportunities in the Utility sector which continues to be a strong strategic focus for the entire company. Meanwhile, order outlook for our Oil & Gas market also remains positive, driven by our expectation for a strong and extended cycle of LNG activity which could persist across the back half of this decade based on current application activity and identified work. We are making the investments today to support this outlook, as our recently announced capacity expansion at our Jacintoport manufacturing facility is well underway and expected to be completed in the second half of Fiscal 2026.”
OUTLOOK
Commenting on the Company's outlook, Michael Metcalf, Powell’s Chief Financial Officer, said, “We are very pleased with our financial performance in Fiscal 2025 as well as the composition, margin profile and schedule of our current backlog. This, combined with our expectation for continued strong order activity across the largest markets we serve, leave us confident in our ability to deliver another year of solid financial results in Fiscal 2026. Notwithstanding the typical softness due to seasonality in our Fiscal first quarter, we believe that on a total year basis, the margin profile recognized in fiscal 2025 is sustainable as we enter Fiscal 2026, as the pricing environment remains stable and we continue to efficiently execute and close out projects in our backlog, supporting our outlook for a successful Fiscal 2026.”
CONFERENCE CALL
Powell Industries has scheduled a conference call for Wednesday, November 19, 2025 at 11:00 a.m. Eastern time. To participate in the conference call, dial 1-833-953-2431 (domestic) or 1-412-317-5760 (international) at least 10 minutes before the call begins and ask for the Powell Industries conference call. A telephonic replay of the conference call will be available through November 26, 2025 and may be accessed by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using passcode 1418365#.
Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting powellind.com. To listen to the live call on the web, please visit the website at least 15 minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call and will remain available for approximately 90 days at powellind.com.
About Powell Industries
Powell Industries, Inc., headquartered in Houston, Texas, develops, designs, manufactures and services custom-engineered equipment and systems that distribute, control and monitor the flow of electrical energy and provide protection to motors, transformers and other electrically powered equipment. Powell Industries, Inc. primarily serves the oil and gas and petrochemical markets, the electric utility market, and commercial and other industrial markets. Beyond these major markets, we also provide products and services to the light rail traction power market and other markets that include universities and government entities. We are continuously developing new channels to electrical markets through original equipment manufacturers and distribution market channels. For more information, please visit powellind.com.
Any forward-looking statements in the preceding paragraphs of this release, including those related to our outlook and acquisitions, including the Remsdaq acquisition, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials, the impact of tariffs and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.
| POWELL INDUSTRIES, INC. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||
| Three Months Ended September 30, | Year Ended September 30, | ||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||
| (In thousands, except per share data) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Revenues | $ | 297,983 | $ | 275,063 | $ | 1,104,318 | $ | 1,012,356 | |||||||||
| Cost of goods sold | 204,457 | 194,629 | 779,937 | 739,268 | |||||||||||||
| Gross profit | 93,526 | 80,434 | 324,381 | 273,088 | |||||||||||||
| Selling, general and administrative expenses | 27,042 | 21,572 | 95,401 | 84,888 | |||||||||||||
| Research and development expenses | 3,127 | 2,746 | 11,008 | 9,427 | |||||||||||||
| Amortization of intangible assets | 112 | — | 112 | — | |||||||||||||
| Operating income | 63,245 | 56,116 | 217,860 | 178,773 | |||||||||||||
| Other expenses (income): | |||||||||||||||||
| Interest income, net | (4,293 | ) | (4,381 | ) | (15,690 | ) | (17,315 | ) | |||||||||
| Income before income taxes | 67,538 | 60,497 | 233,550 | 196,088 | |||||||||||||
| Income tax provision | 16,118 | 14,445 | 52,803 | 46,240 | |||||||||||||
| Net income | $ | 51,420 | $ | 46,052 | $ | 180,747 | $ | 149,848 | |||||||||
| Earnings per share: | |||||||||||||||||
| Basic | $ | 4.26 | $ | 3.84 | $ | 14.98 | $ | 12.51 | |||||||||
| Diluted | $ | 4.22 | $ | 3.77 | $ | 14.86 | $ | 12.29 | |||||||||
| Weighted average shares: | |||||||||||||||||
| Basic | 12,072 | 11,999 | 12,062 | 11,982 | |||||||||||||
| Diluted | 12,176 | 12,211 | 12,167 | 12,188 | |||||||||||||
| SELECTED FINANCIAL DATA: | |||||||||||||||||
| Depreciation and Amortization | $ | 2,050 | $ | 1,797 | $ | 7,265 | $ | 6,871 | |||||||||
| Capital Expenditures | $ | 1,769 | $ | 8,456 | $ | 13,149 | $ | 11,983 | |||||||||
| Dividends Paid | $ | 3,229 | $ | 3,178 | $ | 12,869 | $ | 12,653 | |||||||||
| POWELL INDUSTRIES, INC. & SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| September 30, 2025 | September 30, 2024 | ||||||
| (In thousands) | |||||||
| Assets: | |||||||
| Cash, cash equivalents and short-term investments | $ | 475,527 | $ | 358,392 | |||
| All other current assets | 456,189 | 418,089 | |||||
| Property, plant and equipment, net | 111,049 | 103,421 | |||||
| Long-term assets | 66,219 | 48,278 | |||||
| Total assets | $ | 1,108,984 | $ | 928,180 | |||
| Liabilities and equity: | |||||||
| Current liabilities | $ | 446,387 | $ | 428,015 | |||
| Deferred and other long-term liabilities | 21,827 | 17,092 | |||||
| Stockholders’ equity | 640,770 | 483,073 | |||||
| Total liabilities and stockholders’ equity | $ | 1,108,984 | $ | 928,180 | |||
| SELECTED FINANCIAL DATA: | |||||||
| Working capital(3) | $ | 485,329 | $ | 348,466 | |||
| (1) | New orders (bookings) represent the estimated value of contracts added to existing backlog (unsatisfied performance obligations). |
| (2) | The amounts recorded in backlog may not be a reliable indicator of our future operating results and may not be indicative of continuing revenue performance over future fiscal quarters or years primarily due to unexpected contract adjustments, cancellations or scope reductions. |
| (3) | Working Capital is equal to current assets (including Cash and ST Investments) minus current liabilities. |
| Contacts: | Michael W. Metcalf, CFO |
| Powell Industries, Inc. | |
| 713-947-4422 | |
| Robert Winters or Ryan Coleman | |
| Alpha IR Group | |
| POWL@alpha-ir.com | |
| 312-445-2870 | |
FAQ
What were Powell Industries (POWL) Q4 Fiscal 2025 results for revenue and EPS?
How did Powell's full year Fiscal 2025 profit metrics change for POWL?
What is the size of Powell's backlog and cash position as of Sept 30, 2025 for POWL?
What acquisition did Powell complete and why does it matter for POWL?
How did Powell's order activity trend in Q4 Fiscal 2025 for POWL?
