Powell Industries (POWL) Q4 FY2023 earnings: revenue $209 million, up 28.3% on the year

Powell Industries Inc. (POWL) reported revenue of $209 million for Q4 FY2023, the quarter ended 30 September 2023, up 28.3% on the same quarter a year earlier. Net income was $26 million, up 202.5% on the year, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 6 December 2023.

Revenue$209 millionup 28.3%

Net income$26 millionup 202.5%

Diluted EPS$0.72

QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	209	n/a	n/a	n/a
Cost of revenue	157	n/a	n/a	n/a
Gross profit	52.0	n/a	n/a	n/a
Gross margin	24.9%	n/a	n/a
Research and development	1.7	n/a	n/a	n/a
Selling, general and administrative	20.4	n/a	n/a	n/a
Operating income	29.8	n/a	n/a	n/a
Operating margin	14.3%	n/a	n/a
Pre-tax income	32.7	n/a	n/a	n/a
Income tax	6.3	n/a	n/a	n/a
Effective tax rate	19.2%	n/a	n/a
Net income	26.4	n/a	n/a	n/a
Net margin	12.7%	n/a	n/a
Diluted EPS	$0.72	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	77.2	n/a	n/a	n/a
Capital expenditure	3.8	n/a	n/a	n/a
Free cash flow	73.4	n/a	n/a	n/a
Free cash flow margin	35.2%	n/a	n/a
Cash from investing	-11.2	n/a	n/a	n/a
Cash from financing	-3.2	n/a	n/a	n/a
Share-based compensation	0.7	n/a	n/a	n/a
Dividends paid	3.1	n/a	n/a	n/a
Shares outstanding at period end	38m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	345	n/a	n/a	n/a
Debt	0.0	n/a	n/a	n/a
Operating lease liabilities	0.7	n/a	n/a	n/a
Other liabilities	407	n/a	n/a	n/a
Total liabilities and equity	752	n/a	n/a	n/a
Fixed assets	97.6	n/a	n/a	n/a
Goodwill	1.0	n/a	n/a	n/a
Investments	33.1	n/a	n/a	n/a
Cash and equivalents	246	n/a	n/a	n/a
Receivables	207	n/a	n/a	n/a
Inventory	63.9	n/a	n/a	n/a
Other assets	104	n/a	n/a	n/a
Total assets	752	n/a	n/a	n/a

Questions

What was Powell Industries' revenue in Q4 FY2023?

Powell Industries (POWL) reported revenue of $209 million for Q4 FY2023, the quarter ended 30 September 2023, up 28.3% on the same quarter a year earlier.

How much did Powell Industries earn in Q4 FY2023?

Net income for Q4 FY2023 was $26 million, up 202.5% on the year, and diluted earnings per share $0.72.

When did Powell Industries report Q4 FY2023 results?

Powell Industries filed its 10-K for the quarter ended 30 September 2023 with the SEC on 6 December 2023.

Quarterly results, the last 12 quarters

	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	209	194	255	288	275	241	279	286	298	251	297	312
Cost of revenue	157	146	192	206	195	182	195	198	204	180	209	216
Gross profit	52.0	48.2	62.7	81.7	80.4	59.5	83.4	87.9	93.5	71.4	87.9	95.3
Gross margin	25%	25%	25%	28%	29%	25%	30%	31%	31%	28%	30%	31%
R&D	1.7	2.0	2.3	2.4	2.7	2.5	2.7	2.7	3.1	3.3	4.3	4.3
SG&A	20.4	20.3	20.9	22.0	21.6	21.5	21.8	25.1	27.0	25.2	25.8	26.7
Operating income	29.8	25.9	39.5	57.3	56.1	35.6	58.9	60.1	63.2	42.8	57.6	64.1
Operating margin	14%	13%	15%	20%	20%	15%	21%	21%	21%	17%	19%	21%
Pre-tax income	32.7	29.9	43.9	61.8	60.5	39.4	62.5	64.1	67.5	47.0	61.8	69.1
Tax rate	19%	19%	24%	25%	24%	12%	26%	25%	24%	12%	26%	25%
Net income	26.4	24.1	33.5	46.2	46.1	34.8	46.3	48.2	51.4	41.4	45.9	52.2
Net margin	13%	12%	13%	16%	17%	14%	17%	17%	17%	16%	15%	17%
Diluted EPS	$0.72	$0.66	$0.92	$1.26	$1.26	$0.95	$1.27	$1.32	$1.41	$1.13	$1.25	$1.42
Operating cash flow	77.2	83.9	17.0	13.8	-6.0	37.1	22.4	47.4	61.1	43.6	51.2	100
Capital expenditure	3.8	1.2	0.9	1.4	8.5	2.2	4.1	5.1	1.8	2.0	1.8	6.5
Free cash flow	73.4	82.7	16.1	12.4	-14.4	34.9	18.3	42.3	59.3	41.6	49.3	93.7
Dividends paid	3.1	3.1	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.3	3.3
Shares outstanding	38m	36m	36m	36m	36m	36m	36m	36m	36m	36m	36m	36m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 6 December 2023, accession 0000080420-23-000051: the filing on EDGAR. All of Powell Industries Inc.'s filings: EDGAR company page.

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