Powell Industries Announces First Quarter Fiscal 2025 Results

Core Insights - Powell Industries, Inc. reported a strong start to Fiscal 2025 with new order growth of 36% and revenue growth of 24% compared to the same quarter last year [3][4] - The company delivered earnings per diluted share of $2.86, reflecting a 44$1.3 billion, indicating sustained demand across various market sectors [6][9] Financial Performance - Revenues for the first quarter totaled $241.4 million, up from$194.0 million in the prior year, but down 12% from $275.1 million in the previous quarter [4] - Gross profit increased to$59.5 million, representing 24.7% of revenue, compared to $48.2 million (24.8$34.8 million, or $2.86 per diluted share, compared to$24.1 million, or $1.98 per diluted share, in the prior year [7][9] Market Activity - New orders reached$269 million, a significant increase from 198 million in the prior year, driven by strong activity in the Oil & Gas and Electric Utility sectors [6] - Revenue from the Oil & Gas sector increased by 14% to 95.7 million, while Electric Utility revenue grew by 26% to 51.2 million, and Commercial & Other Industrial revenue surged by 80% to 44.3 million [4] Strategic Outlook - The company is on track with planned manufacturing capacity upgrades, expected to be completed in mid-Fiscal 2025, which will support organic growth and new product commercialization [8] - Powell's diversification efforts are yielding new opportunities across various markets, including data centers, utilities, carbon capture, and hydrogen [8] - The CFO expressed optimism about maintaining quality and quantity in the backlog, positioning the company for robust revenue and earnings growth throughout Fiscal 2025 [10]