Powell Industries (POWL) POWL Financial Results Summary
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Powell Industries, Inc. (POWL) Q4 2025 Financial Results Summary
Release Date: November 18, 2025
Powell Industries, Inc. has released its financial results for the fourth quarter and full year of Fiscal 2025, which ended on September 30, 2025. Below is a summary of key metrics and highlights:
Fourth Quarter Key Highlights
- Revenues: Totaled $298 million, an increase of 8% compared to $275.1 million in Q4 2024.
- Gross Profit: Reported at $94 million, making up 31.4% of revenue, marking a 16% increase from $80.4 million (29.2% of revenue) in the prior year.
- Net Income: Stood at $51 million, or $4.22 per diluted share, which is a 12% increase from $46.1 million, or $3.77 per diluted share in Q4 2024.
- New Orders: Totaled $271 million, up 1% from $267 million in Q4 2024.
- Backlog: As of September 30, 2025, backlog totaled $1.4 billion, an increase of 3% from the same date in 2024.
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Cash and Short-term Investments: Totaled $476 million.
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Acquisition: Completed the acquisition of Remsdaq Ltd., a company based in the U.K. specializing in SCADA Remote Terminal Units.
Full Year Key Highlights
- Revenues: Reached $1.1 billion, reflecting a 9% increase from $1.0 billion in Fiscal 2024.
- Gross Profit: Recorded at $324 million, or 29.4% of revenues, an increase of 19% compared to $273 million (27.0% of revenues) in the previous year.
- Net Income: Reached $181 million, or $14.86 per diluted share, an increase of 21% from $149.8 million, or $12.29 per diluted share in Fiscal 2024.
- New Orders: Totaled $1.2 billion, up 9% from $1.1 billion in Fiscal 2024.
Operational Context
- Electric Utility and Light Rail Traction Power Markets: Revenues in these sectors grew significantly, with increases of 100% and 85%, respectively, in Q4.
- Declines in Other Markets: Conversely, revenues from the Oil & Gas and Petrochemical sectors declined by 10% and 25%, respectively.
Financial Performance Insights
- The gross profit margin showed an upward shift, primarily due to enhanced project execution and volume leverage despite a stable pricing environment.
- There was a robustness in new order intake across multiple markets, contributing to the overall financial stability and performance.
Future Outlook
- Powell Industries’ management expressed confidence in continued solid financial performance into Fiscal 2026, driven by strong order activity in key markets.
- The company is preparing for potential growth in the LNG segment and further investments in manufacturing capacity, particularly at their Jacintoport facility.
Dividend and Share Repurchase Information
- Dividends Paid: Reported at $3.2 million for the quarter and $12.9 million for the full year, indicating a commitment to returning value to shareholders.
- No share repurchase plans were mentioned in the report.
Summary of Gains vs. Previous Year
- Revenues: +8% (Q4); +9% (Full Year)
- Gross Profit: +16% (Q4); +19% (Full Year)
- Net Income: +12% (Q4); +21% (Full Year)
- New Orders: +1% (Q4); +9% (Full Year)
- Backlog: +3% (YoY)
Powell Industries showcases a growing financial position, and the management’s outlook indicates a positive trajectory as it heads into Fiscal 2026.
| Three Months Ended | Year Ended | |||
|---|---|---|---|---|
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |
| Revenues | $297,983 | $275,063 | $1,104,318 | $1,012,356 |
| Cost of goods sold | 204,457 | 194,629 | 779,937 | 739,268 |
| Gross profit | 93,526 | 80,434 | 324,381 | 273,088 |
| Selling, general and administrative expenses | 27,042 | 21,572 | 95,401 | 84,888 |
| Research and development expenses | 3,127 | 2,746 | 11,008 | 9,427 |
| Amortization of intangible assets | 112 | — | 112 | — |
| Operating income | 63,245 | 56,116 | 217,860 | 178,773 |
| Other expenses (income): | ||||
| Interest income, net | -4,293 | -4,381 | -15,690 | -17,315 |
| Income before income taxes | 67,538 | 60,497 | 233,550 | 196,088 |
| Income tax provision | 16,118 | 14,445 | 52,803 | 46,240 |
| Net income | $51,420 | $46,052 | $180,747 | $149,848 |
| Earnings per share: | ||||
| Basic | $4.26 | $3.84 | $14.98 | $12.51 |
| Diluted | $4.22 | $3.77 | $14.86 | $12.29 |
| Weighted average shares: | ||||
| Basic | 12,072 | 11,999 | 12,062 | 11,982 |
| Diluted | 12,176 | 12,211 | 12,167 | 12,188 |
| SELECTED FINANCIAL DATA: | ||||
| Depreciation and Amortization | $2,050 | $1,797 | $7,265 | $6,871 |
| Capital Expenditures | $1,769 | $8,456 | $13,149 | $11,983 |
| Dividends Paid | $3,229 | $3,178 | $12,869 | $12,653 |
| September 30, 2025 | September 30, 2024 | |
|---|---|---|
| Assets: | ||
| Cash, cash equivalents and short-term investments | $475,527 | $358,392 |
| All other current assets | 456,189 | 418,089 |
| Property, plant and equipment, net | 111,049 | 103,421 |
| Long-term assets | 66,219 | 48,278 |
| Total assets | $1,108,984 | $928,180 |
| Liabilities and equity: | ||
| Current liabilities | $446,387 | $428,015 |
| Deferred and other long-term liabilities | 21,827 | 17,092 |
| Stockholders’ equity | 640,770 | 483,073 |
| Total liabilities and stockholders’ equity | $1,108,984 | $928,180 |
| SELECTED FINANCIAL DATA: | ||
| Working capital(3) | $485,329 | $348,466 |