Powell Industries (POWL) Misses Q1 EPS by 24c
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Powell Industries (NASDAQ: POWL) reported Q1 EPS of ($0.03), $0.24 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $106.6 million versus the consensus estimate of $107.32 million.
OUTLOOKCommenting on the company's outlook, Michael Metcalf, Powell's Chief Financial Officer said, "We continue to expect a challenging macro-environment across our industrial end markets through fiscal 2021. That said, we anticipate that commercial activity for projects that are led by low priced, abundant natural gas will continue to exhibit more favorable economics than our other industrial end markets; while we expect that the Utility and Traction markets will remain solid throughout fiscal 2021. Our expectation is that over half of our current backlog will convert to revenue throughout the fiscal year. As we navigate through this cycle, we remain focused on flawless project execution, as well as cost and cash discipline, in order to optimize margin levels and preserve the strength of our balance sheet."
For earnings history and earnings-related data on Powell Industries (POWL) click here.
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