Powell reports Q3 revenue miss but beats profit estimates, stock drops.

From Barchart: 2024-11-19 17:28:25

Powell (NYSE:POWL) reported Q3 CY2024 revenue of $275.1 million, a 31.8% increase from last year but falling short of analyst estimates. The GAAP profit of $3.77 per share beat estimates by 6.2%. The company’s backlog stands at $1.3 billion. Powell’s operating margin increased to 20.4%, up from 14.3% the previous year. The stock price dropped 7.5% to $289 after the results were announced. Brett A. Cope, Powell’s CEO, praised the company’s performance in fiscal 2024. Powell has shown strong sales growth over the past five years and has a positive EPS trend.



Read more at Barchart: Powell (NASDAQ:POWL) Misses Q3 Revenue Estimates, Stock Drops