Powell Industries, Inc. (POWL) stock plummeted 5.17% in the after-hours trading session on Thursday, February 6, 2025, following the release of its first quarter fiscal 2025 earnings report. The sharp decline came despite the company reporting strong year-over-year growth in revenue, net income, new orders, and backlog.
For the first quarter ended December 31, 2024, Powell Industries posted revenue of $241.4 million, up 24% compared to the prior-year period. The company's net income surged 44% to $34.8 million, or $2.86 per diluted share. New orders totaled $269 million, representing a 36% increase, while backlog remained solid at $1.3 billion.
Despite the robust financial performance, Powell Industries' stock experienced a significant sell-off, suggesting that the company's results failed to meet heightened market expectations. While the earnings report highlighted strong growth across all major market sectors, including Oil & Gas, Electric Utility, and Commercial & Other Industrial, investors seemed underwhelmed by the numbers.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.