Powell Industries, Inc. announced strong results for the third quarter of fiscal 2025, ended June 30, 2025. Revenues totaled $286.3 million, a slight decrease of 1% compared to the prior year, primarily due to lower revenue from Oil & Gas and Petrochemical markets, which was largely offset by significant growth in Electric Utility (up 31%) and Commercial & Other Industrial markets (up 18%).
Gross profit increased 8% to $87.9 million, with the gross margin expanding to 30.7% of revenue, a 230 basis point improvement from the prior year. Net income for the quarter was $48.2 million, or $3.96 per diluted share, a 4% increase compared to the prior year. New orders totaled $362 million, contributing to a backlog of $1.4 billion as of June 30, 2025, a 7% increase sequentially and 5% year-over-year.
Key awards in the quarter included a record $60 million order in the Electric Utility market, the largest utility order in Powell’s history, over $80 million combined from two offshore modules for oil and gas production, and a $30 million order for a large Traction Power project. Management highlighted the recently announced acquisition of Remsdaq as a significant step in strengthening its Electric Automation platform, reinforcing confidence in continued strong operational and financial performance.
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