Quarterly ResultMay 4, 2026, 04:17 PM
Powell Industries Secures Record $400M+ Data Center Order; Q2 Revenue $297M
AI Summary
Powell Industries reported strong second-quarter Fiscal 2026 results, highlighted by a significant increase in new orders and backlog. The company secured a record-breaking mega data center order exceeding $400 million after the quarter ended, signaling robust commercial momentum. While net income saw a slight 1% decline, revenues grew 6% to $297 million, and gross profit increased 5% to $88 million. The company also completed a three-for-one forward stock split in April 2026 and maintains an optimistic outlook for fiscal 2026, driven by favorable market activity in data centers, AI, and electric utilities.
Key Highlights
- Powell Industries secured a mega data center order exceeding $400 million subsequent to quarter end, the largest in company history.
- New orders totaled $490 million in Q2 Fiscal 2026, a 97% increase year-over-year.
- Backlog as of March 31, 2026, reached $1.8 billion, up 33% year-over-year.
- Revenues for Q2 Fiscal 2026 were $297 million, an increase of 6% year-over-year.
- Gross profit was $88 million, or 29.6% of revenue, increasing 5% year-over-year.
- Net income was $45.9 million, or $1.25 per diluted share, a 1% decline year-over-year.
- 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.