Powell Industries reported third quarter fiscal 2026 revenue of $311.7 million and diluted EPS of $1.42, missing analyst expectations of $316.9 million and $1.49, respectively. Despite the slight top-line miss, the company saw a 158% year-over-year surge in new orders, driving its backlog to a record high and signaling strong future demand.
Key Highlights
- New orders reached a record $934 million, an increase of 158% year-over-year, driven by three mega-orders in the data center, petrochemical, and LNG markets.
- The company's backlog grew to a record $2.4 billion as of June 30, 2026, up 69% from the prior year and 35% sequentially.
- Gross margin remained robust at 30.6%, nearly flat with 30.7% in the prior-year quarter, amidst ongoing capacity expansions to meet demand.