Powell Industries Q3 revenue up 42% to $192M; record backlog of $1.3B; declares $0.2625 dividend

POWELL INDUSTRIES INC

2023-Q3 EPS reported $2.32 revenue$490,667,000

Net income $18.5M ($1.52 diluted EPS) vs $9.1M ($0.76) a year ago; prior year included $7.5M non-recurring items.
Gross margin improved 810 bps to 22.2%; new orders totaled $505M vs $202M in prior year.
Backlog nearly tripled to record $1.3B, up 31% sequentially; cash and short-term investments $210M.
Board declared quarterly cash dividend of $0.2625 per share, payable Sept 20 to record Aug 16.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

POWELL INDUSTRIES INC reported fiscal 2023 third quarter ended June 30, 2023 results: revenue $192 million, net income $19 million, or $1.52 per diluted share, EPS $1.52 per diluted share.

Period: fiscal 2023 third quarter ended June 30, 2023
Revenue: $192 million
Net income: $19 million, or $1.52 per diluted share
EPS: $1.52 per diluted share
Result: reported results

Exact text from the filing

June 30, 2023. All comparisons are to the comparable period in the prior fiscal year, unless otherwise noted. Fiscal Third Quarter Key Highlights: • Revenues increased 42% to $192 million; • Backlog (1) nearly tripled to a record $1.3 billion; • New orders (2) totaled $505 million, an increase of $303 million; • Gross margin improved 810 basis points to 22.2%; •

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Source: SEC EDGAR

accession 0000080420-23-000036

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