Why Shares of Powell Industries Are Skyrocketing Today

After closing lower on Monday and Tuesday this week, shares of electrical solutions provider Powell Industries (NASDAQ: POWL) are roaring higher today after the company reported strong third-quarter results yesterday after markets closed.

As of 11:30 a.m. ET on Wesnesday, shares of Powell Industries are up 30.9%.

Smashing analysts' expectations that it would report $222.2 million on the top line, Powell posted revenue of $288 million for the third quarter. Another pleasant surprise was found at the bottom of the income statement: diluted earnings per share (EPS) of $3.79, far outpacing analysts' estimates of $2.16.

Source Fool.com