Powell(POWL) - 2026 Q1 - Quarterly Results

Financial Performance - Revenues for Q1 Fiscal 2026 totaled $251 million, a 4% increase from $241 million in Q1 Fiscal 2025[5] - Gross profit reached $71 million, representing 28.4% of revenue, a 20% increase compared to $59 million, or 24.7% of revenue, in the prior year[8] - Net income was $41 million, or $3.40 per diluted share, up 19% from $34.8 million, or $2.86 per diluted share, in the previous year[10] Orders and Backlog - New orders amounted to $439 million, a significant 63% increase from $269 million in the prior year, driven by strong activity in the Commercial & Other Industrial sector[9] - Backlog as of December 31, 2025, totaled $1.6 billion, reflecting a 16% increase compared to the same period last year[10] Market Performance - The Electric Utility market saw a revenue increase of 35%, while the Oil & Gas market grew by 2%[7] - The company secured its first megaproject order in the data center market, valued at approximately $75 million, contributing to over $100 million in total data center orders for the quarter[9] Financial Position and Outlook - Cash and short-term investments were $501 million as of December 31, 2025, up from $476 million at the end of the previous quarter[19] - The outlook for Fiscal 2026 remains positive, with expectations of sustained order activity driven by growing demand for electrical energy and LNG market recovery[11] - The company maintains a strong cash position with no debt, positioning itself well for future growth and value creation[11]