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Sep 30, 2020
Powell Industries Q4 2020 Earnings Report
Powell Industries reported fourth quarter results for fiscal year 2020, showing a decrease in revenue compared to the previous year but strong project execution.
Key Takeaways
Powell Industries reported Q4 2020 revenues of $114.7 million and net income of $3.0 million, or $0.25 per diluted share. The company's backlog totaled $477 million as of September 30, 2020.
Revenues for the fourth quarter of fiscal 2020 totaled $115 million.
Net Income in the fiscal fourth quarter of 2020 was $3.0 million or $0.25 per diluted share.
Cash and short-term investments as of September 30, 2020 totaled $179 million.
Backlog as of September 30, 2020 totaled $477 million.
Forward Guidance
Powell Industries anticipates a more challenged industrial environment in fiscal year 2021, particularly in the Oil, Gas and Petrochemical sectors, but expects to convert roughly 60% of its $477 million backlog to revenue.
Positive Outlook
- Strong activity in Utility and Traction markets helping to utilize and leverage asset base.
- Entering fiscal 2021 with $477 million of backlog, roughly 60% of which we expect to convert to revenue throughout this upcoming fiscal year.
- Focus on cost containment.
- Focus on effective working capital management.
- Balance sheet enables navigation through periods of lower economic activity.
Challenges Ahead
- More challenged industrial environment expected.
- Particularly across core Oil, Gas and Petrochemical end-markets.
- Visibility into core industrial end-markets remains challenged by the impact of the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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