Powell(POWL) - 2025 Q1 - Quarterly Report

Financial Performance - In Q1 Fiscal 2025, the company reported revenues of $241.4 million, a 24% increase from the previous year, with net income of$ 34.8 million, or $2.86 per diluted share[91][105]. - Gross profit increased by 24% to$ 59.5 million, maintaining a gross profit margin of 25%[102]. - Selling, general and administrative expenses increased by 6% to $21.5 million, but as a percentage of revenues decreased to 9%[103]. - The effective tax rate for Q1 Fiscal 2025 was 12%, down from 19% in the same quarter of the previous year[104]. - Operating cash flow provided$ 37.1 million, influenced by project volume and working capital requirements[112]. Revenue Breakdown - Revenue from the oil and gas market increased by 14% to $95.7 million, while revenue from the electric utility market rose by 26% to$ 51.2 million[101]. - The order backlog remained at $1.3 billion, with approximately$ 893 million expected to be recognized as revenue within the next twelve months[92][106]. - Bookings in Q1 Fiscal 2025 increased by 36% to $268.6 million compared to the same period last year[106]. Cash and Investments - Cash, cash equivalents, and short-term investments rose to$ 373.4 million, up from $358.4 million at the end of the previous fiscal year[108]. Future Plans - The company plans to spend approximately$ 11 million on a facility expansion project in Houston, scheduled for completion by mid-Fiscal 2025[116].