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Stock impact report

Powell Industries Announces Fiscal 2021 Third Quarter Results

Powell Industries, Inc. (POWL) 
US:NASDAQ Investor Relations: investor.shareholder.com/powell
Company Research Source: PR Newswire
HOUSTON, Aug. 3, 2021 /PRNewswire/ -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2021 third quarter ended June 30, 2021.Fiscal Third Quarter Key Highlights: Revenues totaled $116 million; Backlog as of June 30, 2021 totaled $426 million; Net Loss was $2.0 million, or a $0.17 loss per diluted share; Cash and short-term investments as of June 30, 2021 totaled $129 million. Brett A. Cope, Powell's Chairman and Chief Executive Officer, stated, "Our consolidated revenues for the fiscal third quarter were largely in-line with both the prior quarter and comparable period in the prior year, while gross profit improved sequentially by 40 basis points. We are encouraged by the $103 million of new orders that we saw in the quarter, and while aggregate activity remains tempered, we are cautiously optimistic that we are beginning to see signs of s Show less Read more
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