Powell Industries Files Q1 FY25 10-Q

TL;DR

POWELL INDUSTRIES (POWL) filed its Q1 2025 10-Q. Financials are in.

AI Summary

Powell Industries, Inc. filed its quarterly report for the period ending December 31, 2024. The company, based in Houston, Texas, operates in the switchgear and switchboard apparatus industry. This filing provides financial updates for the first quarter of fiscal year 2025.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Powell Industries, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Players & Entities

• POWELL INDUSTRIES INC (company) — Filer
• 0000080420 (company) — Central Index Key
• 20241231 (date) — Period of Report
• 20250207 (date) — Filing Date
• 7139446900 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share POWL NASDAQ Global Market I

Filing Documents

• powl-20241231.htm (10-Q) — 678KB
• powlexhibit311q12025.htm (EX-31.1) — 10KB
• powlexhibit312q12025.htm (EX-31.2) — 11KB
• powlexhibit321q12025.htm (EX-32.1) — 5KB
• powlexhibit322q12025.htm (EX-32.2) — 5KB
• 0000080420-25-000029.txt ( ) — 4587KB
• powl-20241231.xsd (EX-101.SCH) — 31KB
• powl-20241231_cal.xml (EX-101.CAL) — 61KB
• powl-20241231_def.xml (EX-101.DEF) — 115KB
• powl-20241231_lab.xml (EX-101.LAB) — 482KB
• powl-20241231_pre.xml (EX-101.PRE) — 316KB
• powl-20241231_htm.xml (XML) — 539KB

— Financial Information

Part I — Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

— Other Information

Part II — Other Information 27

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 28

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements POWELL INDUSTRIES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share data) December 31, 2024 September 30, 2024 ASSETS Current Assets: Cash and cash equivalents $ 325,598 $ 315,331 Short-term investments 47,799 43,061 Accounts receivable, less allowance for credit losses of $ 446 and $ 414 , respectively 193,266 214,405 Contract assets 92,349 102,827 Inventories 88,108 85,873 Income taxes receivable 28 61 Prepaid expenses 7,572 7,487 Other current assets 7,216 7,436 Total Current Assets 761,936 776,481 Property, plant and equipment, net 101,957 103,421 Operating lease assets, net 1,365 1,216 Goodwill and intangible assets, net 1,503 1,503 Deferred income tax assets 28,275 27,246 Other assets 17,639 18,313 Total Assets $ 912,675 $ 928,180 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 65,007 $ 73,633 Contract liabilities 282,595 287,763 Accrued compensation and benefits 12,680 33,777 Accrued product warranty 6,106 5,822 Current operating lease liabilities 630 595 Income taxes payable 12,321 8,983 Other current liabilities 17,330 17,442 Total Current Liabilities 396,669 428,015 Deferred compensation 12,999 12,027 Long-term operating lease liabilities 735 621 Deferred income tax liabilities 3,750 2,708 Other long-term liabilities 2,190 1,736 Total Liabilities 416,343 445,107 Commitments and Contingencies (Note F) Stockholders' Equity: Preferred stock, par value $ 0.01 ; 5,000,000 shares authorized; no ne issued — — Common stock, par value $ 0.01 ; 30,000,000 shares authorized; Shares issued: 12,870,741 and 12,795,256 , respectively Shares outstanding: 12,064,723 and 11,989,238 , respectively 129 128 Additional paid-in capital 59,959 70,111 Retained earnings 493,673 462,194 Treasury stock, 806,018 shares at cost ( 24,999 ) ( 24,999 ) Accumulated other comprehensive loss ( 32,430 ) ( 24,361 ) T

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View this 10-Q filing on SEC EDGAR