SplitMay 5, 2026, 12:18 PM
Powell Industries Effects 3-for-1 Stock Split; Q2 Revenue $296.6M
AI Summary
Powell Industries announced a three-for-one forward stock split, effective April 2, 2026, with all historical per-share data retroactively adjusted. For the second quarter of fiscal year 2026, the company reported a 6.4% increase in revenue to $296.6 million, though net income slightly decreased by 1.0% to $45.9 million. Year-to-date, revenue grew 5.3% to $547.8 million and net income increased 7.6% to $87.3 million, supported by a strong backlog of $1.8 billion and a significant increase in operating cash flow.
Key Highlights
- A three-for-one forward stock split was effected on April 2, 2026, with all per-share amounts retroactively adjusted.
- Q2 2026 revenue increased 6.4% to $296.6 million, up from $278.6 million in Q2 2025.
- Q2 2026 net income was $45.9 million, a 1.0% decrease from $46.3 million in Q2 2025.
- Q2 2026 diluted EPS was $1.25, a 1.6% decrease from $1.27 in Q2 2025.
- Six-month 2026 revenue grew 5.3% to $547.8 million, up from $520.1 million in the prior year period.
- Six-month 2026 net income increased 7.6% to $87.3 million, up from $81.1 million in the prior year period.
- Backlog as of March 31, 2026, stood at $1.8 billion, with $1.1 billion expected to be recognized within 12 months.
- Net cash provided by operating activities for the six months ended March 31, 2026, was $94.8 million, up 59.4% YoY.