Every material Form 8-K Powell Industries filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Powell Industries reported fiscal fourth-quarter and full-year 2024 results for the period ended September 30, 2024, with revenue and net income up sharply from the prior year. Q4 revenue was down 5% from the third quarter, and full-year net new orders fell to $1.1 billion from $1.4 billion. The filing gives no numeric fiscal 2025 guidance; management only said it expects fiscal 2025 to be another successful year.
Q4 revenue of $275 million, up 32% from $208.6 million; diluted EPS of $3.77 vs. $2.17 a year earlier
Full-year revenue of $1.0 billion, up 45%; net income of $149.8 million, or $12.29 per diluted share, up 175%
Backlog of $1.3 billion at September 30, 2024, essentially unchanged from June 30, 2024 and September 30, 2023
Conference call scheduled for Wednesday, November 20, 2024 at 11:00 a.m. Eastern time
Powell Industries reported fiscal third-quarter 2024 revenue of $288.2 million, up 50% from a year earlier, and net income of $46.2 million, or $3.79 per diluted share, compared with $1.52 a year earlier. New orders fell to $356 million from $505 million a year earlier, and backlog held at $1.3 billion. The company also declared a quarterly cash dividend of $0.2650 per share.
Revenue $288.2 million, up 50% from $192.4 million; gross margin 28.4%, up from 22.2%
Net income $46.2 million, or $3.79 per diluted share, vs. $1.52 a year earlier
New orders $356 million vs. $505 million a year earlier, which the company attributed to two LNG projects awarded in the prior-year quarter
Quarterly dividend of $0.2650 per share, record date August 14, 2024, payable September 18, 2024
Powell Industries reported fiscal second-quarter 2024 revenue of $255.1 million, up 49% from a year earlier, and net income of $33.5 million, or $2.75 per diluted share, versus $0.70 a year earlier. New orders fell to $235 million from $508 million, which the company attributed to two large LNG and petrochemical projects awarded in the prior-year quarter. The board also declared a quarterly dividend of $0.2650 per share.
Revenue $255.1 million vs. $171.4 million in fiscal Q2 2023; gross margin 24.6% vs. 19.5%
Net income $33.5 million, or $2.75 per diluted share, vs. $8.5 million, or $0.70, a year earlier
New orders $235 million vs. $508 million a year earlier; backlog steady at $1.3 billion
Quarterly dividend of $0.2650 per share; record date May 15, 2024; payable June 12, 2024
At the February 14, 2024 annual meeting, stockholders re-elected James W. McGill and elected Mohit Singh as directors, each for a term expiring in fiscal 2027. John D. White's resignation, accepted by the board on February 13, 2024 under the company's age-75 policy, took effect at the meeting. Stockholders also approved the advisory say-on-pay proposal.
Mohit Singh elected director: 10,046,799 votes for and 23,312 withheld or abstentions.
James W. McGill re-elected: 9,840,163 votes for and 229,948 withheld or abstentions.
John D. White resigned under the age-75 policy; the board accepted the resignation on February 13, 2024.
Say-on-pay approved: 9,969,638 votes for, 87,381 against and 13,092 withheld or abstentions.
Powell Industries reported fiscal 2024 first-quarter results for the period ended December 31, 2023, with revenue of $194.0 million, up from $126.9 million a year earlier, and net income of $24.1 million, or $1.98 per diluted share, compared with $1.2 million, or $0.10 per share, a year earlier. The Board also approved a quarterly cash dividend of $0.2650 per share, which the company said raises the annualized dividend 1% to $1.06 from $1.05.
Revenue of $194.0 million, versus $126.9 million in the first quarter of fiscal 2023; new orders of $198 million; backlog of $1.3 billion, versus $680 million at December 31, 2022.
Gross margin of 24.8%, versus 15.3% a year earlier; net income of $24.1 million, or $1.98 per diluted share.
Quarterly dividend of $0.2650 per share, payable March 13, 2024, to shareholders of record at the close of business on February 14, 2024.
Conference call scheduled for Wednesday, January 31, 2024, at 11:00 a.m. Eastern time.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Powell Industries filing is on SEC EDGAR ↗. 8-K briefs of other companies →