Powell Industries Inc (POWL) News & EventsPOWLNews & EventsPowell Industries Inc

Stock Futures Broadly Higher, Oil Prices Slip

Stock futures were broadly higher while crude oil futures were slipping in what appears to be a continuation of Monday's regular trading hour trends. The major indexes began the weeke and month with a wining session as easing tensions in the Middle East sent oil prices sharply lower.Meanwhile, earnings season remains a catalyst, with investors digeseting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Backblazeup 18.7%Ibottaup 17.9%Jeld-Wenup 16.7%Voyager Technologisup 16.5%Medifastup 15.9%Palantirup 14.1%Inspire Medicalup 12.6%Snapup 7.7%On Semiconductorup 7.3%DOWN AFTER EARNINGS -ClearPointdown 14.6%Powell Industriesdown 13.5%Ichor Holdingsdown 11.5%Better Home & Financedown 10.8%BWX Technologiesdown 4.4%

Powell Reports Q3 Revenue of $311.74M, Record Orders of $934M

Reports Q3 revenue $311.74M, consensus $316.88M. Brett Cope, Powell's Chairman and Chief Executive Officer, stated, "Commercial momentum across our key end markets continues to accelerate as Powell was awarded a record $934 million of new orders in the quarter and reported a book-to-bill ratio of 3.0x. Activity levels across Oil and Gas, Electric Utility and Commercial and Industrial end markets have remained very robust, highlighted in this most recent quarter by our previously announced mega data center order with a value in excess of $400 million, as well as two additional mega orders; one within the LNG end market that approximated $60 million and the other a Petrochemical order for roughly $75 million. The Powell team also continues to focus on strong project execution as we deliver our record backlog, demonstrated by a strong gross margin performance of 30.6%."

Powell Reports Q2 Revenue of $296.62M, New Orders Up 97%

Reports Q2 revenue $296.62M, consensus $299.12M. New orders totaled $490M, an increase of 97%. Backlog as of March 31, totaled $1.8B, an increase of 33%. Brett A. Cope, Powell's Chairman and Chief Executive Officer, stated, "The commercial momentum we observed to start the fiscal year continued throughout the second quarter, driving a well-balanced and strong order total of $490 million which led to a 1.7x book-to-bill ratio. That momentum has continued into our fiscal third quarter as evidenced by the mega data center order we were awarded after the fiscal second quarter-end with a value in excess of $400 million - the largest order in Powell history. Meanwhile, the team continues to demonstrate high levels of project execution, delivering a gross margin of 29.6% in the quarter. We remain acutely focused on executing our key growth objectives and delivering on project schedules for our customers to further Powell's competitive position against a favorable demand landscape for engineered-to-order distribution solutions."