Powell reports Q2 FY2024 net income $33.5M ($2.75 EPS), revenue up 49% to $255M

POWELL INDUSTRIES INC

2024-Q2 EPS reported $4.73 revenue$449,125,000

Revenue $255.1M (+49% YoY); gross margin 24.6% (up 510 bps from 19.5%).
Net income $33.5M vs $8.5M YoY; diluted EPS $2.75 vs $0.70.
New orders $235M (down 54% YoY but +19% sequentially); backlog $1.3B (+25% YoY).
Cash and short-term investments $365M; declares $0.2650/share dividend payable June 12.
CFO expects strong performance to sustain into FY2025; capacity expansion on track.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

POWELL INDUSTRIES INC reported Fiscal 2024 second quarter ended March 31, 2024 results: revenue $255 million, net income $33 million, or $2.75 per diluted share, EPS $2.75 per diluted share.

Period: Fiscal 2024 second quarter ended March 31, 2024
Revenue: $255 million
Net income: $33 million, or $2.75 per diluted share
EPS: $2.75 per diluted share
Result: reported results

Exact text from the filing

2024 second quarter ended March 31, 2024. All comparisons are to the second quarter of Fiscal 2023, unless otherwise noted. Second Quarter Key Highlights: • Revenues totaled $255 million, an increase of 49%; • Gross profit of $63 million, or 24.6% of revenue, a 510 basis point improvement; • Net income of $33 million, or $2.75 per diluted share; • New orders (1)

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Source: SEC EDGAR

accession 0000080420-24-000026

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