Powell Industries Q1 revenue up 19% YoY, backlog record $680M, net income $0.10/share vs loss year ago

POWELL INDUSTRIES INC

2023-Q1 EPS reported $0.10 revenue$126,858,000

Revenue $126.9M, up 19%; net income $1.2M ($0.10 diluted) vs net loss $2.8M ($0.24 loss) prior year.
Backlog record $680M (+63% YoY); new orders $212M, nearly doubled; book-to-bill 1.7x.
Gross margin improved 270 bps to 15.3% from 12.6%.
Dividend raised 1% to $0.2625 quarterly ($1.05 annual), payable March 15, 2023 to holders of record Feb 15, 2023.
Management confident in revenue and earnings growth for fiscal 2023.

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