However, based upon our financial position through the nine months ending June 2020, we are confident that Powell will close fiscal year 2020 with strong earnings, healthy backlog and in a solid cash position which situates the business well as we look forward to fiscal year 2021. Gross profit. Find the latest Revenue & EPS data for Powell Industries, Inc. Common Stock (POWL) at Nasdaq.com. Powell Industries market cap is $312.1 m, and annual revenue was $517.18 m in FY 2019. Powell Industries Announces Fiscal 2020 Third Quarter Results HOUSTON, Aug. 4, 2020 /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 2020 third quarter ended June 30, 2020. M. W. Powell Company is located in Chicago, IL, United States and is part of the Roofing, Siding, & Sheet Metal Contractors Industry. No problem. Yeah. Company Summary. Over the last three quarters, Powell Industries Inc's revenue has decreased by 12%. Sorry, John, I misunderstood. It may get revised again as they sort of replan. Gross profit as a percentage of revenues increased by 60 basis points compared to one year ago to 18.1% of revenues in the third fiscal quarter, primarily driven by the improved project execution and operational efficiencies across our US facilities [Phonetic]. Okay, guys. Yeah, it was on the report. What has not changed is our commitment to our customers and to our highly talented and dedicated employees. Your Email Address Subject: Message. We appreciate your continued interest in Powell and look forward to speaking with you all next quarter. With that thank you for your participation on today's call. I'll get back in the queue. Are you thinking about a year, two, three, five, what are you kind of setting the business up for at this point? 2019 (In thousands, except per share data) (Unaudited) Revenues $ 118,062 $ 135,588 $ 403,781 $ 368,676. As our markets adapted to these new work conditions and activity resumed in June, our customers and their EPC partners have and continue to evaluate the future return of their projects. In conjunction with the release, Powell Industries has scheduled a conference call, which will be broadcast live within the Investor Relations â¦ 310,255. Revenues for the fourth quarter of fiscal â¦ Gross profit as a percentage of revenues for the first nine months of fiscal 2020 increased by 220 basis points to 18% of revenues on volume leverage and improved project execution. HOUSTON, Dec. 4, 2019 /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 2019 fourth quarter ended September 30, 2019.. Stock Advisor launched in February of 2002. Market data powered by FactSet and Web Financial Group. Thank you. Powell Industries's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. So a lot of variability. So the restructuring of the business, John, hit predominantly a larger percentage of the Houston based operations where we do see a large -- a larger part of our revenue from the oil, gas and petrochem market along the Gulf Coast. I think it's a lot earlier to tell. Send Message. This contract will convert to revenue over a three-year period. This was partially offset by a favorable impact from the reversal of an income tax reserve, which Mike will discuss in more detail. Capex spending during the quarter was $809,000. -- Analyst. And can't really say into next year how far, but a lot of factors here. Additional information is available at www.powellkleinschmidt.com or by contacting DONALD D POWELL â¦ Powell Industries Inc. is a provider of packaged solutions for the control, monitoring, and distribution of electrical power and other critical processes with headquarters in Houston, Texas. We're trying to watch and play for. Our balance sheet remains strong and we will continue to support our customers across a diverse set of end markets to ensure a disciplined approach to the mix and quality of our backlog as we pursue new orders. First, as an essential manufacturer providing critical electrical distribution solutions across many industries and geographies, we have been meeting regularly to review the state of our operation, to assess any new issues within our manufacturing facilities and supply chain and to share critical learnings among the management team, including the areas of health and safety best practices, workforce utilization and resource planning. On the last call, I mentioned several challenges we were experiencing with an important supplier based in Mexico. We continue to support each other and our customers as an essential business and all of our facilities remain open and 100% operational. Orders for the third fiscal quarter were up $81 million, a 44% decrease versus prior year. Powell Industries has scheduled a conference call for Wednesday, August 5, 2020 at 11:00 a.m. Eastern time. The companyâs â¦ At this point, we'll be happy to answer your questions. Find related and similar companies as â¦ I am proud of our people and our partners who have stepped up to this global challenge. We have and will continue to focus on protecting the business through cash conservation, cost management and productivity gains to ensure that Powell emerges stronger from this cycle and is well positioned to take advantage of future opportunities. For more information, please refer to the Company's filings with the Securities and Exchange Commission. At the end of the third quarter total backlog was $532 million, which includes the previously announced large industrial order that was booked in the second quarter to support the design, manufacture, integration, and testing of a Powell custom-integrated electrical distribution solution. Revenue (Quarterly) is a widely used stock evaluation measure. 121,885. Thank you, operator and good morning everyone. So the schedule may not be firm yet. Okay, great. Powell Industries, Inc. (POWL) ... Total Revenue. Powell Industries Inc's revenue is the ranked 22th among it's top 10 competitors. Returns as of 11/30/2020. For the nine months ended 30 June 2020, Powell Industries, Inc. revenues increased 10% to $403.8M. 2019 (In thousands, except per share data) (Unaudited) Revenues $ 151,570 $ 123,737 $ 285,720 $ 233,088. I don't know the exact timing or the total number, but it's -- it's about $15 million in planned revenue pushing into what I'd say the first half of '21 right now. 23,715. Please check your download folder. That's accurate. 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 â¦ No -- but just to make sure I understand, this is existing projects in backlog, this is not new quotation activity or new orders that you'd hope to get. We remain focused on the health and safety of our employees and communities and we are prepared to take additional actions as warranted to response to the evolving business environment. Powell Industries has 2,312 employees across 20 locations and $517.18 M in annual revenue in FY 2019. And if we look back and compare to '16, '17 as we entered the last economic downcycle, price competition I would expect to increase for infrastructure-related projects. Are they moving into the first half of 2021, to the latter half, what are your customers kind of -- what's that timing kind of look like at this point? Thanks, Zach and good morning everyone. Powell Industries, Inc. engages in the development, design, manufacture, and provision of services of custom-engineered products and systems. Cost of goods sold. This volume reduction from the industrial and utility sectors is driven by the execution of the existing project backlog, the increase in the longer lead time projects in our current backlog, as well as the overall market softness across our industrial end markets. Probably a little uncertain timing because things are still -- some of these projects that are moving out they're kind of -- some of them come back and say, hey, we need to kind of hold and so we put engineering on hold. Our supply chain leadership work to support our local partners as they navigated their review and implementation of safe work practices. The fiscal third quarter book-to-bill ratio was 0.7 times revenue. Powell Industries Revenue 2006-2020 | POWL. 330,926. It's Brett. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. While they began small, the company has grown over the past six decades to become the strategic supplier of choice for highly complex and integrated systems for distribution and control of electrical energy and other critical processes. Reported backlog at the end of the third fiscal quarter was $532 million, $125 million higher versus same period in the prior year. Okay. Year-to-date orders were $520 million, 1% higher versus the prior year, while revenues increased 10% to $404 million compared to the same period a year ago. How long you think it's going to be? Again, there is a lot of data out there. Going forward, we will continue to monitor and support all of our key suppliers. But that's really just a function of the project timing. [Operator Instructions]. John, I'm sorry, I didn't catch the very first part of your question. Inquiry activity for this sub-sector began to slow early in the quarter as lockdowns and transitions to remote working were instituted across the industry. Powell Industries Inc. annual stock financials by MarketWatch. In addition to increase efficiencies and place a stronger focus on cost, we took the difficult but necessary step to restructure the business by making adjustments to both our fixed and variable costs in order to align the business with current and expected activity levels. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS. The information on how to access the replay was provided in yesterday's earnings release. We had some large jobs that we've burned out of backlog. Revenue â¦ And with that, I'll get back into queue. This included steps to temporarily move these operations back into each of our facilities in the United States, Canada and United Kingdom. Now I'll update some of our operational initiatives as a result of the pandemic. Brett A. Specifically, in Q2 2020's revenue was $118.1M; in â¦ 58,421 This was driven by the completion of projects in the backlog and the unwinding of the associated working capital as well as achieving contract billing milestones for the large industrial project that was booked into backlog during the second fiscal quarter of 2020. Thank you, Brett and good morning everyone. They tend to be a little smaller in size, a little less complex or -- in comparison to say a large LNG job or a large refiner job, a little more straightforward, not as much low voltage content sometimes. John, this is Mike. Cash flow was very strong in the fiscal third quarter, recording $45 million of free cash flow. Revenues reflect Petrochemical segment increase of â¦ View Powell Industries (www.powellindustries.com) location in Washington, United States , revenue, industry and description. These risks and uncertainties include, but are not limited to, competition and competitive pressures, sensitivity to general economic and industry conditions, international, political and economic risks, availability and price of raw materials and execution of business strategies. Comparing the results to its competitors, Powell Industries Inc reported Total Revenue decrease in the 2 quarter 2020 year on year by -12.93 %, faster than overall decrease of Powell Industries Inc 's competitors by -17.18 %, recorded in the same quarter. See you at the top! Short cycle, service, parts and OEM work also slowed early in the quarter as we worked to safely return our service personnel from domestic and international work sites, but improved steadily as we progressed through June. With that, I'll turn the call over to Mike to provide more detail around our financial results before we take your questions. I will now turn the conference over to your host, Zach Vaughan with Dennard Lascar Investor Relations. Michael W. Metcalf -- Executive Vice President, Chief Financial Officer, Secretary, and Treasurer. See insights on Powell Industries including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. There are a few others that people are trying to hold on to and we do have -- we're pretty busy on the inquiry activity but it's sort of a cost out, redo, and they're trying to figure out what their landed price of some of these contracts are going to be and how they're going to justify the job. I just actually want to start with the deferrals you're talking about, jobs that are moving, I guess, out of Q4 into 2021. Powell Industries Inc ... Third quarter revenues were $118 million, down 13% when compared to $136 million from the third quarter fiscal 2019. So there aren't as many changes throughout the job, straight medium voltage. Domestic revenues decreased by $12 million or 12% to $91 million versus the same period one year ago and international revenues decreased by $5 million or 16% versus prior year. Inside Powell Industries Inc's 10-K Annual Report: Financial - Earnings Highlight Net Income/Loss In Fiscal 2019, net income of $9.9 million, or $0.85 per diluted share, improved from a net loss of $7.2 million, or $0.62 per diluted share in Fiscal 2018, primarily due to improved market conditions and efficiencies from increased volume in our domestic and Canadian manufacturing facilities. All the operations did adjust but heaviest here. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS. Okay. A question-and-answer session will follow the formal presentation. Since 2010 the company has been providing Noncommercial Research Organizations. Fiscal Year 2019 New Orders Up 47% Versus Prior Year. Throughout the third quarter, we experienced an overall weakening of industrial demand due to the global health crisis. I appreciate it. Offsetting this restructuring costs was a benefit from the successful conclusion of an IRS audit. The utility market is, as we sit here today, is stable as is the traction market. Cope -- President and Chief Executive Officer. Brett? 96,718. Powell Industries has scheduled a conference call for Wednesday, December 7, 2016 at 11:00 a.m. Eastern time. Our Mexico based partner resumed operations in June and we continue to run full operations today. Please check your download folder. So -- hey, John. Net income increased from $3.4M to $13.7M. Powell Industries IncÂ (NASDAQ:POWL)Q3Â 2020 Earnings CallAug 5, 2020, 11:00 a.m. Our top priority has been and remains the safety of our employees, customers and suppliers. As we near the close of our fiscal 2020, we anticipate that the fiscal fourth quarter will be marginally softer than the third quarter. Just look at the majors on their cash conservation moves, they're making big moves and you got to believe that's going to affect their capex and opex spend. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. Gross profit in the third fiscal quarter of 2020 was lower by $8 million versus the second quarter to $21 million on a 22% sequential volume decrease. Powell Industries revenue from 2006 to 2020. In depth view into Powell Industries Revenue (TTM) including historical data from 1973, charts, stats and industry comps. Zach Vaughan -- Vice President, Dennard Lascar Investor Relations. Over the past few months, we have been able to successfully work through any downside effects of the current environment on our operations. In the quarter under review, total revenue of $129.8 million beat the Zacks Consensus Estimates of $120 million by 8.2%. Revenues for the third fiscal quarter of 2020 decreased 13% to $118 million compared to last year's third quarter of $136 million and continued softness across our core industrial end markets. Could recover quicker than that and then there is data out there. Over the past few months, as we have completed and shipped a large amount of shorter duration work, we have started the work on new projects that have a longer execution schedule and complexity profile. I will make a few comments and then I will turn the call over to Mike for more financial commentary before we take your questions. Second quarter revenues increased to $152 million, which was up â¦ Powell Industries, Inc. engages in the development, design, manufacture, and provision of services of custom-engineered products and systems. This conference call includes certain statements, including statements related to the Company's expectations of its future operating results that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Regarding your restructurings, are there certain units that you're winding down more so than others as you reevaluate the outlook in the marketplace? Despite the COVID related operational challenges, we experienced solid margin performance and reasonable cost efficiencies during the quarter. In response to the current macroeconomic environment, our core oil, gas and petrochemical customers began to review capital spending plans and take steps to conserve cash. HOUSTON, Aug. 4, 2020 /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 2020 third quarter ended June 30, 2020.. 21,344. Three Months Ended March 31, Six Months Ended March 31, 2020. POWELL INDUSTRIES, INC. & SUBSIDIARIES. Our continued focus on maintaining margin and reducing costs allowed us to generate over $45 million in free cash flow during the quarter that set a new quarterly record for free cash flow generation. By managing our business and aligning our cost structure to support customer activities, we will be well prepared to respond to favorable industry trends that remain a critical driver to the recovery. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. In parallel, we worked quickly to coordinate a short-term adjustment in our global operations to limit any potential impact on project schedules. 2020. Its customers include engineering-construction firms and end-users in the oil and gas, electric utility, transportation and other heavy industries. Similar to our last market cycle, which lasted from 2015 through 2017, we are executing our playbook to take prudent steps to manage our cost structure while also working to systematically strengthen and build our business for the future. Looking forward, we do anticipate continued uncertainty across our core end markets with many of our industrial customers operating on lower opex and capex spending. Our third quarter result included $1.4 million on a pre-tax basis or $0.12 per diluted share of separation costs as we align our operating expense with current market conditions. There will be a replay of today's call and it will be available via webcast by going to the Company's website powellind.com where a telephonic replay will be available until August 12. Investors are cautioned that such forward-looking statements involve risks and uncertainties and that actual results may differ materially from those projected in these forward-looking statements. POWELL INDUSTRIES, INC. & SUBSIDIARIES. Powell Industries Inc. is a provider of packaged solutions for the control, monitoring, and distribution of electrical power and other critical processes with headquarters in Houston, Texas. The pandemic has caused a shift in how we manage our business, think about workforce planning and how we execute our work across our footprint. The push-outs would be Q3 and Q4. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. 198,382. We recorded a $1.7 million or $0.14 per diluted share tax benefit related to R&D credits that were not previously recognized for fiscal years 2014 through 2017. Okay. Powell design, build and deliver multiple power control rooms in support to the project. 29,685. â¦ Beyond COVID-19, we continue to focus on our employees, customers and communities and maintaining liquidity without compromising our financial stability. Powell Industries revenue from 2006 to 2020. We appreciate you joining us for Powell Industries conference call today to review fiscal 2020 third quarter results. Despite lower year-over-year quarterly revenues, third quarter gross margin as a percentage of revenue was 18.1%, up 60 basis points from 17.5% in the third quarter last year. It employs 16 employees and is generating approximately $1,700,000.00 in annual revenue. Welcome to the Powell Industries Third Quarter Earnings Conference Call. 72,855. 2020. Powell Industries, Inc. as a metal-working shop to support the petrochemical facilities. Second, we are proactively collaborating with customers and taking the necessary steps to address project and services. While we have been successful in fulfilling project commitments to-date, we continue to see a shift in project schedules, resulting in planned fiscal 2020 revenue converting to 2021. From an end market perspective versus the prior fiscal year, revenues from our industrial sector decreased by 10%, the utility sector was lower by 37% while the traction sector increased by 23%. Powell Industries Announces Fiscal 2019 Third Quarter Results | Powell Industries, Inc. We reported net income of $3.5 million in the quarter, down from $5.1 million in the prior year, primarily due to a decline in revenues and gross profit resulting from a decrease in new orders, adverse market conditions and separation costs. I think for the -- what's available when you look at our comments around utility and T&D, generation as well as traction jobs no real change albeit those jobs typically are more competitive anyway. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Three Months Ended June 30, Nine Months Ended June 30, 2020. Several midsize and large projects have now moved their schedules into 2021 at the earliest while a handful of projects continue to evaluate their direction. Ladies and gentlemen, we have reached the end of the question-and-answer session and I would like to turn the call back to management for closing remarks. The strength of Powell, including our proven operating expertise, is extraordinary economic environment. At this time, all participants are in a listen-only mode. So I think it's going to be pretty uncertain through the end of the calendar year. Cost of goods sold. New orders booked were $81 million in the third quarter compared sequentially to $301 million in the second quarter and down from $145 million in the third quarter of fiscal 2019. K12 reported Q3 (FY Q1) revenue of $371 million, up 37% from the prior quarter and an even more impressive 44.3% year-over-year. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The Company's products and services include metal-clad switchgear, metal-enclosed switchgear, motor control, bus duct, utility switches, integrated electrical equipment enclosures, offshore modules, control and monitoring systems, energy management systems, and process control systems-- plus a very large variety of support services including installation and commissioning, spare parts, switchgear life extension, replacement circuit breakers, project management and field support. Despite the ongoing uncertainty presented by this pandemic, our third quarter results demonstrate the sustainability and strength of our brand and 73 years of experience. Annual Revenue $7,178.00; Employee Count 7; Industries Noncommercial Research Organizations; Contacts Christina Powell ; Contact Business. 2019. Powell Industries net income from 2006 to 2020. [Operator Instructions] We have a follow-up question from John Franzreb with Sidoti. â¢ List of POWL Competitors With net margin of 2.95 % company reported lower profitability than its competitors. That was really just a function. Gross profit. There is positive data that says LNG pricing recovers and part of the momentum that we -- that less in this crisis. Third quarter revenues were $118 million, down 13% when compared to $136 million from the third quarter fiscal 2019. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Then and now Powell remains committed to our plans and investment in research and development to create innovative products and services to capitalize on opportunities and maximize profitability in an uncertain market environment. View the latest POWL financial statements, income statements and financial ratios. On reported basis, fiscal third quarter net income was $3.5 million, or $0.30 per diluted share. Selling, general and administrative expenses decreased by $1.6 million or 9% versus the prior year and were $15.5 million in the current or 13.1% of revenue compared to 12.6% of revenue a year ago on the lower volumes. [Indecipherable] kind of surprised about but also you expected to see in the coming six to nine months? Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Can you talk about what you're seeing out there and how new jobs pricing out for you? Thank you, David. Powellkleinschmidt Inc was founded in 1975, and is located at 645 N Michigan Ave # 810 in Chicago. For the nine months ended June 30, 2020, we reported net income of $13.7 million or $1.17 per diluted share while year-to-date free cash flow totaled $49 million. I'm actually on a sale, so I apologize for the -- if it's spotty connection here. Activity in the utility and traction markets largely remained steady in the third quarter. The top 10 competitors average 22.1B. No, I guess along those lines what would your expectations be -- it sounds like you're bracing for a -- at least a modestly long down cycle.