Powell Industries jumps on Q4 earnings beat
05/12/2022 22:22
** Shares of electrical equipment maker Powell Industries
Inc POWL.O up 14.9% at $31.02 after the bell
** Co reports fiscal Q4 earnings of $0.73/shr vs average
analysts' estimate of $0.19/shr - Refinitiv urn:newsml:reuters.com:*:nL8N32V59M
** POWL reports a 26% rise in Q4 revenue to $163 mln
urn:newsml:reuters.com:*:nPn7jGsfna
** Co says it received new orders worth $259 mln in Q4 vs
$121 mln for the same quarter, last fiscal year
** "We expect continued improvement in project quality
resulting in increased profitability in fiscal 2023," says CFO
Michael Metcalf
** Up to Monday's close, stock down 8.4%
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))