Powell Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 01, 2023 at 04:16 pm EDT
Share
Powell Industries, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 192.37 million compared to USD 135.48 million a year ago. Net income was USD 18.45 million compared to USD 9.06 million a year ago. Basic earnings per share from continuing operations was USD 1.55 compared to USD 0.77 a year ago. Diluted earnings per share from continuing operations was USD 1.52 compared to USD 0.76 a year ago.
For the nine months, sales was USD 490.67 million compared to USD 369.91 million a year ago. Net income was USD 28.09 million compared to USD 5 million a year ago. Basic earnings per share from continuing operations was USD 2.37 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 2.32 compared to USD 0.42 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. 
