Powell Industries (POWL) Misses Q1 EPS by 22c

Powell Industries (NASDAQ: POWL) reported Q1 EPS of ($0.23), $0.22 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $109.4 million versus the consensus estimate of $108.21 million.

OUTLOOK

Commenting on the company's outlook, Michael Metcalf, Powell's Chief Financial Officer, said, "We continue to believe that fiscal 2019 customer activity will strengthen over fiscal 2018, yielding improved margins. As a result, we continue to expect fiscal 2019 year-end backlog to improve over 2018, revenues to increase modestly, and earnings to improve to breakeven or slightly better in fiscal 2019. Our balance sheet remains strong and we are well positioned to handle this increase in our backlog."

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

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