Powell Industries' (POWL) stock plunged 7.71% in the after-hours trading session on Thursday, following the release of its first quarter fiscal 2025 results. Despite reporting solid year-over-year growth in revenue, net income, new orders, and backlog, the company's results appear to have fallen short of market expectations.
In the earnings report, Powell Industries highlighted a 24% increase in revenue to $241 million, driven by higher levels across all major market sectors, including Oil & Gas, Electric Utility, and Commercial & Other Industrial. Net income surged 44% to $35 million, or $2.86 per diluted share, while new orders climbed 36% to $269 million compared to the prior-year quarter.
However, the strong financial performance was not enough to satisfy investors, as the stock faced significant selling pressure in extended trading. The decline suggests that the company's results may have missed analysts' forecasts or failed to meet heightened expectations.
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