Powell Industries, Inc. Provides Earnings Guidance for the Fiscal First Quarter and Full Year of 2021
December 08, 2020 at 05:05 pm EST
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Powell Industries, Inc. provided earnings guidance for the fiscal first quarter and full year of 2021. Additionally, the company entering fiscal 2021 with $477 million of backlog, roughly 60% of which The company expects to convert to revenue throughout this upcoming fiscal year.
The company do anticipate that the first quarter 2021 will be softer sequentially from an earnings perspective due to fewer days worked resulting from holidays and paid time off compared to the prior quarter.
Powell Industries, Inc. develops, designs, manufactures and services custom-engineered equipment and systems. The Company distributes, controls and monitors the flow of electrical energy and provides protection to motors, transformers and other electrically powered equipment. Its principal products include integrated power control room substations (PCRs), custom-engineered modules, electrical houses (E-Houses), traditional and arc-resistant distribution switchgear and control gear, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches and bus duct systems. Its products are designed for application voltages ranging from approximately 480 volts to 38,000 volts and are used in oil and gas refining, onshore and offshore oil and gas production, petrochemical, liquefied natural gas (LNG) terminals, pipeline, terminal, mining and metals, light rail traction power, electric utility, pulp and paper and other industrial markets.
POWELL INDUSTRIES, INC. 
