Loading...
•
Sep 30, 2023
Powell Industries Q4 2023 Earnings Report
Powell Industries reported Q4 2023 results with revenue increase and improved profitability.
Key Takeaways
Powell Industries announced strong Q4 2023 results, with a 28% increase in revenues, improved gross profit margin, and a significant rise in net income. The company's backlog also saw substantial growth, reflecting healthy order activity.
Revenues increased by 28% to $209 million.
Gross profit margin improved by 430 basis points to 24.9%.
Net income reached $26 million, or $2.17 per diluted share, including a $0.22 benefit from unusual items.
Backlog increased by 118% to $1.3 billion.
Forward Guidance
Powell anticipates continued commercial strength across core end markets throughout Fiscal 2024 and expects Fiscal 2024 margins to be similar to Fiscal 2023.
Positive Outlook
- Continued strength commercially across core end markets.
- Strengthening operating leverage.
- Implementation of commercial levers to grow and protect margin profile.
- Strong commercial outlook across most end markets.
- Strong liquidity position and balance sheet.
Challenges Ahead
- Normal seasonality impact in fiscal first quarter.
- Navigating through Fiscal 2024 while executing growing backlog.
- Assessing the quality and mix of backlog.
- Staying power of commercial improvements implemented.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...