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Dec 31, 2021
Powell Industries Q1 2022 Earnings Report
Powell Industries reported first quarter results for fiscal year 2022, showing revenues of $107 million and a net loss of $2.8 million.
Key Takeaways
Powell Industries reported first quarter fiscal 2022 results with revenues of $107 million. The company experienced a net loss of $2.8 million, or a loss of $0.24 per diluted share. New orders totaled $108 million, and the backlog reached $416 million.
Revenues totaled $107 million.
Net loss was $2.8 million, or a loss of $0.24 per diluted share.
New orders of $108 million included $122 million of gross new orders, partially offset by $14 million of scope reductions.
Backlog as of December 31, 2021 totaled $416 million.
Powell Industries
Powell Industries
Forward Guidance
Powell Industries anticipates a gradual recovery throughout the remainder of the fiscal year, supported by a strong backlog and improving order cadence, while managing inflationary cost pressures and pricing.
Positive Outlook
- Continued recovery of core industrial end markets.
- Focus on internal cost management to handle inflationary pressures.
- Strong backlog provides a solid foundation.
- Orders cadence continues to improve compared to the prior year.
- Strong balance sheet supports improved financial performance.
Challenges Ahead
- Supply side macro-environment challenges.
- Inflationary cost pressures impacting margins.
- Executing backlog on projects booked in fiscal 2020 and 2021 with higher cost levels.
- Margin pressure expected to persist into the second half of fiscal 2022.
- Need to manage pricing effectively in response to cost increases.