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Dec 31, 2020
Powell Industries Q1 2021 Earnings Report
Powell Industries reported first quarter results with a net loss, but new orders increased sequentially.
Key Takeaways
Powell Industries reported a net loss of $364 thousand, or $0.03 loss per diluted share, on revenues of $107 million. New orders increased sequentially to $91 million, supporting a backlog of $465 million. The company is focused on project execution, cost discipline, and cash management in a challenging macro-environment.
Revenues totaled $107 million.
Backlog as of December 31, 2020 totaled $465 million.
Net Loss was $364 thousand, or a $0.03 loss per diluted share.
Cash and short-term investments as of December 31, 2020 totaled $150 million.
Forward Guidance
Powell Industries anticipates a challenging macro-environment across its industrial end markets through fiscal 2021. They expect commercial activity for projects led by low priced, abundant natural gas to exhibit more favorable economics, while the Utility and Traction markets will remain solid. The company expects over half of its current backlog to convert to revenue throughout the fiscal year and remains focused on flawless project execution, cost and cash discipline.
Positive Outlook
- Commercial activity for projects led by low priced, abundant natural gas will continue to exhibit more favorable economics.
- Utility and Traction markets will remain solid throughout fiscal 2021.
- Expectation is that over half of current backlog will convert to revenue throughout the fiscal year.
- Focused on flawless project execution.
- Focused on cost and cash discipline.
Challenges Ahead
- Challenging macro-environment across industrial end markets through fiscal 2021.
- Core Oil, Gas and Petrochemical end markets remain challenged.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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