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Mar 31, 2022
Powell Industries Q2 2022 Earnings Report
Powell Industries reported improved second quarter results driven by strategic efforts to diversify business mix and broaden service offerings.
Key Takeaways
Powell Industries announced fiscal 2022 second quarter results with revenues totaling $128 million. The company reported a net loss of $1.2 million, or a loss of $0.10 per diluted share. New orders totaled $151 million, and backlog reached $440 million. Cash and short-term investments totaled $114 million.
Revenues totaled $128 million.
Net loss was $1.2 million, or a loss of $0.10 per diluted share.
New orders totaled $151 million.
Backlog as of March 31, 2022 totaled $440 million.
Powell Industries
Powell Industries
Forward Guidance
Powell anticipates that profitability will continue to improve as they progress through the second half of fiscal 2022 as pricing, factory efficiencies and cost controls gain momentum, while continuing to execute on their $440 million order book.
Positive Outlook
- Core industrial end markets will continue to steadily recover.
- Strength across the utility and light commercial end markets.
- Consolidated 1.2x book-to-bill ratio in the fiscal second quarter.
- Proactive actions in order to help offset these headwinds.
- Profitability will continue to improve as we progress through the second half of fiscal 2022 as pricing, factory efficiencies and cost controls gain momentum.
Challenges Ahead
- Current inflationary environment.
- Dominated by supply chain constraints.