Powell Industries (POWL) Misses Q2 EPS by 13c

Powell Industries (NASDAQ: POWL) reported Q2 EPS of ($0.02), $0.13 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $119 million versus the consensus estimate of $115.95 million.

Brett A. Cope, Powell's Chairman and Chief Executive Officer, stated, Our consolidated revenues for the second quarter were in-line with our expectations and higher by 11% sequentially. Additionally, we were pleased with our cash performance, generating $6 million of free cash flow during the quarter. New orders in the second quarter were $89 million, consistent with the prior quarter, as macroeconomic conditions continue to create uncertainty across our Industrial end-markets. That was partially offset by the steady growth across our non-Industrial sectors, specifically, revenues from our Utility and Traction customers, which grew 17% and 9%, respectively, compared to last year. I want to acknowledge the hard work of our team, as these results are in spite of the extraordinary winter storm that adversely affected our Houston-based facilities for nearly a full week in February."

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

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