Powell Industries Q4 FY2024 #EarningsReport Summary | $POWL (+2 %)
In Q4 FY2024, Powell Industries experienced strong financial and operational performance, driven by significant growth in its core oil and gas and petrochemical markets. The company achieved a record backlog and maintained robust operational efficiency.
📊 Income Statement Highlights (vs. Q4 FY2023):
▫️ Net Income: $46.05M vs. $26.44M (+74.16%)
▫️ Total Revenue: $275.06M vs. $208.64M (+31.78%)
▫️ Adjusted EPS: $3.77 vs. $2.17 (+73.73%)
▫️ Gross Margin: 29.2% vs. 24.9% (+430 bps)
▫️ Operating Income: $56.12M vs. $29.80M (+88.31%)
▫️ Operating Cash Flow: Not disclosed for the quarter.
📊 Full Year Highlights (FY2024 vs FY2023):
▫️ Net Income: $149.85M vs. $54.53M (+175%)
▫️ Total Revenue: $1.01B vs. $699.31M (+44.75%)
▫️ Adjusted EPS: $12.29 vs. $4.50 (+173.11%)
▫️ Gross Margin: 27.0% vs. 21.1% (+590 bps)
▫️ New Orders: $1.1B vs. $1.4B (-21.43%)
💼 Balance Sheet Highlights (as of September 30, 2024 vs. 2023):
▫️ Total Assets: $928.18M vs. $752.24M
▫️ Total Liabilities: $445.11M vs. $407.22M
▫️ Stockholders’ Equity: $483.07M vs. $345.03M
Operational Highlights:
▫️ Backlog of $1.3B, stable from prior quarter.
▫️ Significant revenue growth in the petrochemical (+112%) and oil & gas (+23%) sectors.
🔮 Future Outlook:
Powell anticipates sustained strength in FY2025 across core and emerging markets, driven by rising global demand for electrical energy. Strategic capacity upgrades are planned to enable further growth. The company remains well-positioned with a robust backlog, liquidity, and expertise in custom-engineered solutions.
