Powell(US:POWL)2025-02-06 21:33Financial Performance - Revenues totaled $241.4 million, an increase of 24% compared to $194.0 million in the prior year[6] - Gross profit of $59.5 million, or 24.7% of revenue, increased 24% compared to $48.2 million in the prior year[7] - Net income of $34.8 million, or $2.86 per diluted share, increased 44% compared to $24.1 million, or $1.98 per diluted share, in the prior year[9] Orders and Backlog - New orders totaled $269 million, up from $198 million in the prior year, driven by strong activity in the Oil & Gas and Electric Utility sectors[8] - Backlog as of December 31, 2024, remained at $1.3 billion, consistent with previous quarters[8] Cash and Investments - Cash and short-term investments totaled $373 million as of December 31, 2024, an increase from $358 million at the end of the previous quarter[22] Sector Performance - Revenue from the Oil & Gas sector increased 14% to $95.7 million, while Electric Utility revenue grew 26% to $51.2 million[6] Growth and Expansion - Planned manufacturing capacity upgrades are on track for completion in mid-fiscal 2025 to support organic growth and new product commercialization[11] - The company expects sustained commercial momentum and robust revenue and earnings throughout the remainder of Fiscal 2025[12] - Diversification efforts are presenting new opportunities across markets such as data centers, utilities, carbon capture, and hydrogen[11]