Quarterly ResultMay 4, 2026, 05:13 PM
Powell Industries Q2 Revenue $297M; New Orders $490M; $400M+ Data Center Deal
AI Summary
Powell Industries announced its second quarter fiscal 2026 results, reporting a 6% increase in revenues to $297 million and a 5% rise in gross profit to $88 million. Despite a slight 1% decline in net income to $45.9 million, the company saw a significant 97% surge in new orders, totaling $490 million, and a 33% increase in backlog to $1.8 billion. Notably, subsequent to the quarter end, Powell was awarded its largest order in history: a mega data center order valued over $400 million. The company also completed a three-for-one forward stock split on April 2, 2026.
Key Highlights
- Powell Industries secured a mega data center order exceeding $400 million post-quarter end, its largest order ever.
- Q2 fiscal 2026 revenues increased 6% year-over-year to $297 million.
- New orders totaled $490 million in Q2, a 97% increase compared to the prior year.
- Backlog as of March 31, 2026, reached $1.8 billion, up 33% year-over-year.
- Net income for Q2 was $45.9 million, or $1.25 per diluted share, a 1% decline YoY.
- Gross profit for Q2 was $88 million, or 29.6% of revenue, up 5% YoY.
- Cash and short-term investments totaled $545 million as of March 31, 2026.
- A three-for-one forward stock split was effected on April 2, 2026.
Price Impact
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