Powell Industries Earnings: Here’s Why Investors are Ambivalent Now
Powell Industries, Inc. (NASDAQ:POWL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Powell Industries, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.75% to $0.89 in the quarter versus EPS of $1.02 in the year-earlier quarter.
Revenue: Decreased 7.52% to $179.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Powell Industries, Inc. reported adjusted EPS income of $0.89 per share. By that measure, the company beat the mean analyst estimate of $0.75. It missed the average revenue estimate of $193.52 million.
Quoting Management: “We are pleased with the progress on our two facility expansions. Initial production in our new Edmonton Canada facility has begun, and we expect to complete that transition by the end of September. We will start moving into our new Houston facility later this month. These new facilities, located in important geographic markets, are crucial to our ability to manage and support the number and size of the capital investments we expect to be made by our customer base in the months and years ahead.”
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