Powell Industries Q1 revenue up 53% to $194M, EPS $1.98 vs $0.10; dividend raised 1%

Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the Fiscal 2024 first quarter ended December 31, 2023. All comparisons are to the comparable period in the prior fiscal year, unless otherwise noted. First Quarter Key Highlights: • Revenues totaled $194 million, an increase of 53%; • Gross profit of $48 million, or 24.8% of revenue, an improvement of 950 basis points; • Net Income of $24 million, or $1.98 per diluted share;