Powell Industries (POWL) Tops Q4 EPS by 47c, Comments on Outlook

Powell Industries (NASDAQ: POWL) reported Q4 EPS of $0.54, $0.47 better than the analyst estimate of $0.07. Revenue for the quarter came in at $129.8 million versus the consensus estimate of $121.67 million.

OUTLOOK

Commenting on the company's outlook, Don R. Madison, Powell's Executive Vice President and Chief Financial and Administrative Officer said, "Powell continues to be adversely affected by uncertain market conditions, and unless these conditions improve significantly, our backlog and current business conditions are not likely to improve over the short-term. Revenue for the first quarter 2017 is not likely to improve sequentially from the fourth quarter and we expect to report a net loss in fiscal 2017. However, throughout fiscal 2017, we expect to strengthen our balance sheet, generate positive net cash from operating activities and increase our cash position."

Due in large part to current uncertainty of order activity, fluctuating revenue trends and the evolving nature of the Company's business, including the continuing alignment of our operating costs with market conditions and other initiatives, we are suspending the issuance of annual financial guidance.

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

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