Powell Industries, Inc. Reports Earnings Results for the First Quarter Ended December 31, 2023
January 30, 2024 at 04:30 pm EST
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Powell Industries, Inc. reported earnings results for the first quarter ended December 31, 2023. For the first quarter, the company reported sales was USD 194.02 million compared to USD 126.86 million a year ago. Net income was USD 24.09 million compared to USD 1.16 million a year ago.
Basic earnings per share from continuing operations was USD 2.02 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 1.98 compared to USD 0.1 a year ago.
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. 
