Powell(POWL) ZACKS·2025-02-07 21:01Core Insights - Powell Industries, Inc. reported adjusted earnings of 2.83, marking a 44.3% year-over-year increase [1] - Total revenues for the quarter were 244 million, but reflecting a 24.4% year-over-year growth driven by strong performance across various sectors [2] Revenue Breakdown - The electric utility sector generated revenues of 95.7 million, a 14% increase year over year [3] - The commercial & other industrial sector saw revenues rise by 80% to 269 million, compared to 198 million in the same quarter last year, driven by strong activity in the oil & gas and electric utility sectors [4] - The backlog at the end of the quarter stood at 1.3 billion, remaining relatively flat both sequentially and year-over-year [4] Margin and Expenses - Cost of sales increased by 24.8% year over year to 59.5 million, resulting in a slight contraction of gross margin to 24.7% [5] - Selling, general and administrative expenses were 35.6 million, with an operating margin of 14.7%, up 130 basis points [5] Balance Sheet and Cash Flow - As of the end of Q1 fiscal 2025, cash equivalents and short-term investments totaled 358.4 million at the end of fiscal 2024 [6] - Current liabilities decreased to 428 million at the end of fiscal 2024 [6] - Stockholders' equity was reported at 2.2 million, up 83.3% year over year [6] Dividend and Guidance - The company distributed $3.2 million in dividends, remaining stable year over year [7] - Powell anticipates continued strength across most end markets and expects strong revenues and earnings for fiscal 2025, supported by a robust backlog and solid liquidity [8]