Powell Industries Q2 revenue $128M, net loss $1.2M; new orders $151M up 70% YoY

POWELL INDUSTRIES INC

2022-Q2 EPS reported -$0.34 revenue$234,423,000

Net loss $1.2M ($0.10/diluted share) vs loss $2.8M in Q1; tax provision on higher expected FY income.
Revenue $127.9M vs $118.7M YoY; gross margin 14.9% improved 230 bps sequentially.
New orders $151M, backlog $440M (+6% sequentially); book-to-bill 1.2x.
Cash & short-term investments $114M as of March 31, 2022.
Management expects profitability improvement in H2 FY2022 on pricing, factory efficiencies, cost controls.

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