secwatch.observer — SEC 8-K summary
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Issuer:     POWELL INDUSTRIES INC (POWL)
CIK:        0000080420
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0000080420-23-000036
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80420/000008042023000036/0000080420-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80420/000008042023000036/powl-20230801.htm
  HTML page:      https://secwatch.observer/filing/0000080420-23-000036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer