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Powell Industries GAAP EPS of $0.73 beats by $0.55, revenue of $162.68M beats by $21.68M

  • Powell Industries press release (NASDAQ:POWL): Q4 GAAP EPS of $0.73 beats by $0.55.
  • Revenue of $162.68M (+25.7% Y/Y) beats by $21.68M.
  • New orders totaled $259 million, an increase of $138 million;
  • As of September 30, 2022, backlog was a record $592 million, an increase of 43%;
  • Cash and short-term investments as of September 30, 2022, totaled $117 million.
  • Outlook: "Considering this, and in addition to our current order book at $592 million, we anticipate revenue growth in most of our key market sectors versus the prior year. Additionally, as a result of the pricing and cost actions that were implemented throughout this past fiscal year, we expect continued improvement in project quality resulting in increased profitability in fiscal 2023. Based upon these dynamics, and accounting for the typical seasonality that we experience during the first fiscal quarter, we anticipate earnings in fiscal 2023 to significantly improve versus fiscal 2022, excluding the non-recurring items." said Michael Metcalf, Powell's CFO.
  • Shares +14.81%.