Powell Industries, Inc. (POWL) reported third-quarter results for fiscal 2026, revealing a 9% increase in revenues to $311.7 million, driven by 54% growth in commercial & other industrial markets and 18% growth in electric utility. The company secured a record $934.2 million in new orders for the quarter, marking a 158% year-over-year increase.
As of June 2026, Powell’s backlog stood at $2.4 billion, bolstered by a notable $400 million data center contract and significant LNG and petrochemical orders. Bookings for the first nine months of fiscal 2026 totaled $1.9 billion, including seven large-scale orders across various markets. The company is enhancing its manufacturing capacity, expanding its Jacintoport fabrication yard to add 335,000 square feet, with the expectation of generating over $100 million in additional annual revenue once fully utilized.
Despite strong performance, Powell faced challenges with rising operating costs, including a 9.1% increase in the cost of sales year-over-year for Q3. The company paid $9.8 million in dividends during the first nine months of fiscal 2026 and recently raised its quarterly dividend by approximately 0.9%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
