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Stock impact report

POWELL INDUSTRIES ANNOUNCES FISCAL 2022 SECOND QUARTER RESULTS

Powell Industries, Inc. (POWL) 
US:NASDAQ Investor Relations: investor.shareholder.com/powell
Company Research Source: PR Newswire
HOUSTON, May 3, 2022 /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 2022 second quarter ended March 31, 2022.Fiscal Second Quarter Key Highlights: 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;Cash and short-term investments as of March 31, 2022 totaled $114 million.Brett A. Cope, Powell's Chairman and Chief Executive Officer, stated, "Powell delivered improved second quarter results that reflected ongoing initiatives supporting diligent and deliberate strategic efforts to diversify our business mix and broaden our Services offerings. Revenue totaled $128 million with associated gross margin of 14.9%, an improvement of 230 basis points sequentially, as we continue to navigate this challenging co Show less Read more
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