Powell Industries hits 3-yr high on better-than-expected Q4 results
05/12/2019 17:45
** Shares of Powell Industries POWL.O surge as much as
19.4% to hit 3-year high of $47.2; snaps 5-day losing streak
** Last up 12.5%, stock set for its best day in 7 months, if
gains hold; among top pct gainers across U.S. exchanges
** Q4 revenue up ~10%, net income more than quadrupled as
Canadian and UK markets began to show improvement - POWL
urn:newsml:reuters.com:*:nPn819pHHa
** POWL beats revenue estimate for seventh straight quarter;
EPS better than expected for second consecutive quarter -
Refinitiv data
** "We anticipate that fiscal 2020 will generate a solid
increase in revenue over fiscal 2019" - CFO
** Stock up 76.5% YTD
(Reporting by C Nivedita in Bengaluru)
((C.Nivedita@thomsonreuters.com))