Powell Industries reports Q1 net loss of $2.8M; revenues flat YoY at $106.6M

POWELL INDUSTRIES INC

2022-Q1 EPS reported -$0.24 revenue$106,569,000

Net loss of $2.8M ($0.24 loss per diluted share) vs. net loss of $0.4M in Q1 2021.
Revenue of $106.6M, flat YoY; sequential decline from $129.5M in Q4 2021.
Gross new orders of $122M, partially offset by $14M scope reductions; net orders $108M.
Backlog of $416M; cash and short-term investments of $102M.
Management expects margin pressure from steel and copper inflation into H2 fiscal 2022.

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