Powell Industries (POWL) Tops Q2 EPS by 8c; Lower Top End of FY15 EPS Guidance

Powell Industries (NASDAQ: POWL) reported Q2 EPS of $0.17, $0.08 better than the analyst estimate of $0.09. Revenue for the quarter came in at $170.2 million versus the consensus estimate of $156.7 million.

Powell Industries sees FY2015 EPS of $1.25-$1.50, versus prior guidance of $1.25-$1.75 and the consensus of $1.29. Powell Industries sees FY2015 revenue of $625-675 million, versus the consensus of $648.97 million.

Michael A. Lucas, President and Chief Executive Officer, stated, "Our intense focus remains on operational improvement and project execution. While there is more work to be done, I am pleased with the solid progress that the Powell team made in the past quarter.

"During the second quarter, we have seen the price of oil improve from its recent lows, but the impact of reduced capital spending in our oil and gas markets will likely continue into 2016. Although our order rates generally lag the reduction in industry capital spending, orders remained fairly robust in the second quarter. We do anticipate slowing order rates throughout the remainder of the year. We continue to closely monitor activity in order to be prepared to support our customers with their capital projects."

For earnings history and earnings-related data on Powell Industries (POWL) click here.

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