Revenue and Profit Growth - Revenues for Q4 2024 totaled $275 million, a 32% increase compared to the prior year[4] - Gross profit for Q4 2024 was $80 million, or 29.2% of revenue, a 55% increase compared to the prior year[8] - Net income for Q4 2024 was $46 million, or $3.77 per diluted share, a 74% increase compared to the prior year[11] - Full-year revenues for 2024 totaled $1.0 billion, a 45% increase compared to the prior year[12] - Full-year gross profit for 2024 was $273 million, or 27.0% of revenue, an 85% increase compared to the prior year[13] - Full-year net income for 2024 was $150 million, or $12.29 per diluted share, a 175% increase compared to the prior year[14] Sector Performance - New orders for Q4 2024 totaled $267 million, driven by strong activity in the Oil & Gas, Petrochemical, and Electric Utility sectors[9] - The Petrochemical sector saw a 112% increase in Q4 2024 revenues to $50.4 million[7] - The Oil & Gas sector grew 23% in Q4 2024 to $115.4 million[7] Backlog and Orders - Backlog as of September 30, 2024, remained at $1.3 billion, consistent with previous quarters[11] - New orders for Q4 2024 totaled $267 million, driven by strong activity in the Oil & Gas, Petrochemical, and Electric Utility sectors[9] Asset Growth - Total assets increased to $928.18 million from $752.24 million, a growth of 23.4%[28] - Cash, cash equivalents, and short-term investments rose to $358.39 million from $279.01 million, up 28.4%[28] - Other current assets grew to $418.09 million from $342.98 million, an increase of 21.9%[28] - Property, plant, and equipment, net increased to $103.42 million from $97.63 million, up 5.9%[28] - Long-term assets grew to $48.28 million from $32.63 million, a rise of 48.0%[28] Liabilities and Equity - Current liabilities increased to $428.02 million from $395.69 million, up 8.2%[28] - Stockholders' equity rose to $483.07 million from $345.03 million, a growth of 40.0%[28] - Working capital increased to $348.47 million from $226.30 million, up 54.0%[28] - Deferred and other long-term liabilities grew to $17.09 million from $11.53 million, up 48.2%[28] - Total liabilities and stockholders' equity reached $928.18 million, up 23.4% from $752.24 million[28]

Core Viewpoint - Powell Industries, Inc. reported strong financial results for the fourth quarter and full year of fiscal 2024, highlighting significant revenue growth and improved profitability across key sectors, particularly in oil & gas and petrochemical markets [1][4]. Fourth Quarter Key Financial Highlights - Revenues reached $275 million, a 32% increase from $208.6 million in the prior year [2][5]. - Gross profit was $80 million, representing 29.2% of revenue, up from 24.9% in the previous year [2][6]. - Net income increased by 74% to $46 million, or $3.77 per diluted share, compared to $26.4 million, or $2.17 per diluted share, in the prior year [2][8]. - New orders totaled $267 million, up from $171 million in the prior year [2][7]. - Backlog remained stable at $1.3 billion as of September 30, 2024 [2][8]. - Cash and short-term investments amounted to $358 million [2][20]. Full Year Key Financial Highlights - Total revenues for the year were $1.0 billion, a 45% increase from $699.3 million in fiscal 2023 [3][9]. - Gross profit for the year was $273 million, or 27.0% of revenue, up from 21.1% in the previous year [3][10]. - Net income for the year increased by 175% to $150 million, or $12.29 per diluted share, compared to $54.5 million, or $4.50 per diluted share, in fiscal 2023 [3][11]. - Net new orders totaled $1.1 billion, down from $1.4 billion in fiscal 2023 due to the absence of large megaprojects [3][11]. Market Performance and Strategic Outlook - The company experienced significant growth in its largest markets, with oil & gas and petrochemical sectors growing by 53% and 97%, respectively [4][10]. - Powell Industries is diversifying into markets such as data centers, hydrogen, carbon capture, and alternative fuels [4]. - The company anticipates continued strength across its end markets in fiscal 2025, supported by a robust backlog and strong liquidity [12][13].

Powell Industries, Inc.  (POWL) is scheduled to release fourth-quarter fiscal 2024 (ended September 2024) results on Nov. 19, after market close.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for fiscal fourth-quarter earnings is pegged at $3.49 per share, which has remained unchanged in the past 60 days. The consensus mark implies growth of 79% from the year-ago actual. The Zacks Consensus Estimate for revenues is pegged at $276.7 million, indicating a ...

In the latest market close, Powell Industries (POWL) reached $352.37, with a +1.73% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 0.06%.Shares of the energy equipment company witnessed a gain of 31.72% over the previous month, beating the performance of the Industrial Products sector with its gain of 4.85% and the S&P 500's gain of 4.37%.The investment community will be paying close atten ...

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HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced that it will release results for the fiscal fourth quarter and year ended September 30, 2024 on Tuesday, November 19, 2024 after the market closes. In conjunction with the release, Powell Industries has scheduled a conference call, which will be broadcast live within the Investor Relations secti ...

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Shares of Powell Industries, Inc. (POWL) are showing impressive gains of late, hovering at more than $200 per share in the past seven trading sessions. The stock closed at $221.99 on Monday, just 1.8% below its 52- week high of $226. In the past three months, the electrical equipment manufacturer's shares have jumped 53.4%, outpacing the Zacks Manufacturing - Electronics industry and the S&P 500's returns of 5.4% and 4.0%, respectively. The company has also outperformed other industry players like EnerSys ( ...

Core Viewpoint - Powell Industries (POWL) has experienced significant stock performance, with a 19.3% increase over the past month and a 147% rise since the beginning of the year, outperforming the Zacks Industrial Products sector and the Zacks Manufacturing - Electronics industry [1] Financial Performance - In the last earnings report on July 30, 2024, Powell Industries reported an EPS of $3.79, exceeding the consensus estimate of $2.12, marking a strong record of positive earnings surprises [2] - For the current fiscal year, Powell Industries is projected to achieve earnings of $12.01 per share on revenues of $1.01 billion, reflecting a 191.5% increase in EPS and a 45% increase in revenues [3] - The next fiscal year is expected to see earnings of $12.44 per share on revenues of $1.05 billion, indicating a year-over-year change of 3.58% in EPS and 4% in revenues [3] Valuation Metrics - Powell Industries currently trades at 18.2X current fiscal year EPS estimates, below the peer industry average of 22.7X, and at 44.2X trailing cash flow compared to the peer group's average of 22X [7] - The stock has a PEG ratio of 1.3, which does not place it among the top echelon of stocks from a value perspective [7] Zacks Rank and Style Scores - Powell Industries holds a Zacks Rank of 1 (Strong Buy) due to rising earnings estimates, meeting the criteria for investors seeking stocks with strong potential [8] - The company has a Value Score of C, a Growth Score of B, and a Momentum Score of F, resulting in a combined VGM Score of B [6] Industry Comparison - Enersys (ENS), a peer in the industry, has a Zacks Rank of 2 (Buy) and shows strong earnings performance, with expected earnings of $8.94 per share on revenues of $3.75 billion for the current fiscal year [9][10] - The Manufacturing - Electronics industry is positioned in the top 9% of all industries, suggesting favorable conditions for both Powell Industries and Enersys [11]