Powell Industries (NASDAQ: POWL) reported quarterly results that easily surpassed last year's numbers. Investors took note, sending shares of Powell up as much as 20% on Tuesday.
Powell engineers and manufactures electrical distribution, control, and monitoring systems for large industrial users, including utilities , oil and gas producers , mining operations , and commuter railways. On Monday night, the company announced earnings of $0.73 per share in its fiscal fourth quarter ending Sept. 30 on revenue of $163 million.
That's well above the $0.28 per share Powell earned on $129.5 million in revenue during the same three months of last year. Powell also booked $259 million in new orders during the quarter, its highest total since the second quarter of fiscal 2020, fueled by a solid post-pandemic recovery in a number of its end markets.
For further details see:
Why Powell Industries Stock Is Charging Higher Today