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Powell Industries Inc (POWL) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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POWL Quarterly Reports

Powell Industries Inc

CIK: 80420 Ticker: POWL

Exhibit 99.1
powelllogoa131.jpg PRESS RELEASE
FOR IMMEDIATE RELEASE
                        Contacts:    Michael W. Metcalf, CFO
Powell Industries, Inc.
713-947-4422

Robert Winters or Ryan Coleman
Alpha IR Group
POWL@alpha-ir.com
312-445-2870


POWELL INDUSTRIES ANNOUNCES FISCAL 2022 THIRD QUARTER RESULTS


HOUSTON — August 2, 2022 — Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2022
third quarter ended June 30, 2022.

Fiscal Third Quarter Key Highlights:
Revenues totaled $135 million;
Net Income was $9 million, or $0.76 per diluted share including;
$1.6 million or $0.14 per diluted share gain on the sale of a non-core division, and
$5.9 million or $0.49 per diluted share from a non-recurring tax benefit;
New orders totaled $202 million;
Backlog as of June 30, 2022, totaled $503 million;
Cash and short-term investments as of June 30, 2022, totaled $99 million.


Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated, “Powell delivered a solid fiscal third quarter as we continue to recover from challenges brought on by the pandemic including the on-going disruptions to the global supply chain. Our operating divisions across the company delivered solid execution as we continue to progress productivity improvements across all elements of the business including our engineering, manufacturing and strategic sourcing teams. The $202 million of new orders represents the highest quarterly total of new orders in
1

The following information was filed by Powell Industries Inc (POWL) on Tuesday, August 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Powell Industries Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Powell Industries Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Details)
Detail Of Selected Balance Sheet Accounts
Detail Of Selected Balance Sheet Accounts (Tables)
Detail Of Selected Balance Sheet Accounts - Activity In Allowance For Credit Losses (Details)
Detail Of Selected Balance Sheet Accounts - Activity In Product Warranty Accrual (Details)
Detail Of Selected Balance Sheet Accounts - Components Of Inventories (Details)
Divestiture
Divestiture (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Calculation Of The Effective Tax Rate (Details)
Leases
Leases (Tables)
Leases - Lease Costs (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Summary Of Operating Lease Assets And Liabilities (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Components Of Long-Term Debt (Details)
Long-Term Debt - Narrative (Details)
Overview And Summary Of Significant Accounting Policies
Overview And Summary Of Significant Accounting Policies (Details)
Overview And Summary Of Significant Accounting Policies (Policies)
Revenue
Revenue (Tables)
Revenue - Contract Balances (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue - Performance Obligations (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Schedule Of Restricted Stock Units Activity (Details)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

Powell Industries Inc provided additional information to their SEC Filing as exhibits

Ticker: POWL
CIK: 80420
Form Type: 10-Q Quarterly Report
Accession Number: 0000080420-22-000032
Submitted to the SEC: Wed Aug 03 2022 1:11:08 PM EST
Accepted by the SEC: Wed Aug 03 2022
Period: Thursday, June 30, 2022
Industry: Switchgear And Switchboard Apparatus

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