POWL Powell Industries (POWL) Q3 FY26 earnings call
Powell Industries delivered a very strong third quarter, marked by record new orders and an all-time high backlog, primarily fueled by significant data center and LNG projects. The company is actively expanding manufacturing capacity and investing in strategic initiatives to support this growth, while maintaining strong gross margins. Management expresses confidence in continued momentum into fiscal 2027, driven by durable demand drivers across its core end markets.
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POWL operating KPIs by quarter
| KPI | Mar 2026 Q2 FY26 | This call Jun 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|
| Orders | $490MWe recorded $490 million of new orders in the quarter, bringing our midyear total to nearly $1 billion in new awards.Source: earnings call transcript | $934MOverall, Powell's awarded a record $934 million of new orders in the third quarter which is nearly 3x higher than the prior year and nearly double the order total from last quarter.Source: earnings call transcript | +90.6% |
| Backlog | $1.8BOur backlog now sits at $1.8 billion, 12% higher than the prior quarter and 33% higher than 1 year ago.Source: earnings call transcript | <$2.4BOur backlog is now nearly $2.4 billion, again, the highest in Powell's history and it is notable that we have booked over $1.8 billion of new awards over the past 3 quarters.Source: earnings call transcript | — |
| Book-to-bill ratio | 1.7 ratioAs a result of the strong commercial activity across our key end markets, the book-to-bill ratio for both the second quarter as well as the first half of fiscal 2026 is 1.7x.Source: earnings call transcript | 3 ratioThe resulting book-to-bill ratio for the third fiscal quarter is 3.0x while this ratio on a fiscal year-to-date basis is 2.2x, with reported backlog reaching a new high of $2.4 billion at the end of the third fiscal quarter, $967 million higher versus 1 year ago and $619 million higher sequentially.Source: earnings call transcript | +76.5% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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