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Powell Industries Announces Third Quarter Fiscal 2025 Results
HOUSTON, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management,
About this update from Powell Industries, Inc.
[{"type":"text","content":"HOUSTON, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the third quarter of fiscal 2025 ended June 30, 2025. All comparisons are to the third quarter of fiscal 2024, unless otherwise noted. Third Quarter Key Financial and Strategic Highlights: Revenues of $286 million were essentially unchanged;Gross profit of $88 million, or 30.7% of revenue, increased 8%;Net income of $48 million, or $3.96 per diluted share, increased 4%;New orders(1) totaled $362 million;Backlog(2) as of June 30, 2025 totaled $1.4 billion, an increase of 7% compared to the second fiscal quarter;Cash and short-term investments as of June 30, 2025 totaled $433 million.Subsequent to quarter end, Powell announced a definitive agreement to acquire Remsdaq Ltd., a U.K.-based manufacturer of SCADA Remote Terminal Units for electrical substation control and automation in generation, transmission and distribution. Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated, “I am very proud of the Powell team as we delivered another strong quarter of results. We continue to execute our project backlog at a high level, achieving a gross margin of 30.7% in the current quarter, an improvement of 230 basis points compared to the prior year. Our strong brand of trusted execution supports another quarter of robust order activity highlighted by a book-to-bill ratio(3) of 1.3x and sequential backlog growth of 7%. While new order activity was strong across most of our key markets, notable awards in the quarter included a $60 million award in the Electric Utility market - the largest utility order in Powell’s history - and a testament to our long-term focus of growth within this market. We were also awarded over $80 million combined from two separate awards for custom offshore modules for oil and gas production; and we received a $30 million order for a large Traction Power project based in the United States.” Third Quarter Fiscal 2025 Results Revenues totaled $286.3 million, a decrease of 1% compared to $288.2 million in the prior year, and an increase of 3% compared to $278.6 million in the second quarter of fiscal 2025. The decline compared to the prior year was driven by lower revenue levels fro...