Why Powell Industries Stock Is Charging Higher Today
Powell Industries (NASDAQ: POWL) reported quarterly results that easily surpassed last year's numbers. Investors took note, sending shares of Powell up as much as 20% on Tuesday.
Powell engineers and manufactures electrical distribution, control, and monitoring systems for large industrial users, including utilities, oil and gas producers, mining operations, and commuter railways. On Monday night, the company announced earnings of $0.73 per share in its fiscal fourth quarter ending Sept. 30 on revenue of $163 million.
That's well above the $0.28 per share Powell earned on $129.5 million in revenue during the same three months of last year. Powell also booked $259 million in new orders during the quarter, its highest total since the second quarter of fiscal 2020, fueled by a solid post-pandemic recovery in a number of its end markets.
Source Fool.com
