2019 (In thousands, except per share data) (Unaudited) Revenues $ 151,570 $ 123,737 $ 285,720 $ 233,088. [Operator Instructions] Our first question is from John Franzreb with Sidoti. In parallel, we worked quickly to coordinate a short-term adjustment in our global operations to limit any potential impact on project schedules. Zach Vaughan -- Vice President, Dennard Lascar Investor Relations. 121,885. How long you think it's going to be? 58,421 2019 (In thousands, except per share data) (Unaudited) Revenues $ 118,062 $ 135,588 $ 403,781 $ 368,676. Cash flow was very strong in the fiscal third quarter, recording $45 million of free cash flow. You may begin. Our top priority has been and remains the safety of our employees, customers and suppliers. Thank you for joining us today to review Powell's fiscal 2020 third quarter results. POWELL INDUSTRIES, INC. & SUBSIDIARIES. John, I'm sorry, I didn't catch the very first part of your question. However, based upon our financial position through the nine months ending June 2020, we are confident that Powell will close fiscal year 2020 with strong earnings, healthy backlog and in a solid cash position which situates the business well as we look forward to fiscal year 2021. For more information, please refer to the Company's filings with the Securities and Exchange Commission. Products and services to the electronics industry: soldering, tools, test equipment, chemicals and more. 330,926. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Despite lower year-over-year quarterly revenues, third quarter gross margin as a percentage of revenue was 18.1%, up 60 basis points from 17.5% in the third quarter last year. Powellkleinschmidt Inc was founded in 1975, and is located at 645 N Michigan Ave # 810 in Chicago. Powell Industries net income from 2006 to 2020. Powell Industries manufactures equipment that monitors and controls the flow of electricity in industrial and government facilities. While we have been successful in fulfilling project commitments to-date, we continue to see a shift in project schedules, resulting in planned fiscal 2020 revenue converting to 2021. On reported basis, fiscal third quarter net income was $3.5 million, or $0.30 per diluted share. In conjunction with the release, Powell Industries has scheduled a conference call, which will be broadcast live within the Investor Relations … Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Are they moving into the first half of 2021, to the latter half, what are your customers kind of -- what's that timing kind of look like at this point? Okay, guys. As we previously reported, our domestic operations have been experiencing stronger project activity supported by low price abundant natural gas. What has not changed is our commitment to our customers and to our highly talented and dedicated employees. Beyond COVID-19, we continue to focus on our employees, customers and communities and maintaining liquidity without compromising our financial stability. Our supply chain leadership work to support our local partners as they navigated their review and implementation of safe work practices. It's Brett. You just saw some drop in revenue in utility market [Technical Issues]. Are you thinking about a year, two, three, five, what are you kind of setting the business up for at this point? I appreciate it. At the end of the third quarter total backlog was $532 million, which includes the previously announced large industrial order that was booked in the second quarter to support the design, manufacture, integration, and testing of a Powell custom-integrated electrical distribution solution. K12 reported Q3 (FY Q1) revenue of $371 million, up 37% from the prior quarter and an even more impressive 44.3% year-over-year. Since 2010 the company has been providing Noncommercial Research Organizations. Gross profit in the third fiscal quarter of 2020 was lower by $8 million versus the second quarter to $21 million on a 22% sequential volume decrease. Despite the ongoing uncertainty presented by this pandemic, our third quarter results demonstrate the sustainability and strength of our brand and 73 years of experience. Thank you, David. Over the past few months, we have been able to successfully work through any downside effects of the current environment on our operations. Returns as of 11/30/2020. We continue to support each other and our customers as an essential business and all of our facilities remain open and 100% operational. Then and now Powell remains committed to our plans and investment in research and development to create innovative products and services to capitalize on opportunities and maximize profitability in an uncertain market environment. Powell Industries has scheduled a conference call for Wednesday, December 7, 2016 at 11:00 a.m. Eastern time. So typically those price lower anyway. Third quarter revenues were $118 million, down 13% when compared to $136 million from the third quarter fiscal 2019. Again, there is a lot of data out there. Stock Advisor launched in February of 2002. Please note that information reported on this call speaks only as of today, August 5th, 2020 and therefore you're advised that any time-sensitive information may no longer be accurate at the time of replay listening or transcript reading. Inquiry activity for this sub-sector began to slow early in the quarter as lockdowns and transitions to remote working were instituted across the industry. Cumulative Growth of a $10,000 Investment in Stock Advisor, Powell Industries Inc (POWL) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $POWL, Powell Industries Inc (POWL) Q1 2020 Earnings Call Transcript, Powell Industries Inc (POWL) Q4 2019 Earnings Call Transcript, Powell Industries Inc (POWL) Q3 2019 Earnings Call Transcript, Powell Industries Inc (POWL) Q1 2019 Earnings Conference Call Transcript, Why Powell Industries, Inc.'s Shares Dropped 12% Today, Copyright, Trademark and Patent Information. At the end of our fiscal third quarter, we had cash and short-term investments of $163 million, $69 million higher than a year ago and $39 million higher than our fiscal 2019 year-end position. 103,662. Thank you, operator and good morning everyone. Cost of goods sold. In response to the current macroeconomic environment, our core oil, gas and petrochemical customers began to review capital spending plans and take steps to conserve cash. Three Months Ended March 31, Six Months Ended March 31, 2020. Welcome to the Powell Industries Third Quarter Earnings Conference Call. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Thank you, Brett and good morning everyone. Revenues for the third fiscal quarter of 2020 decreased 13% to $118 million compared to last year's third quarter of $136 million and continued softness across our core industrial end markets. And if we look back and compare to '16, '17 as we entered the last economic downcycle, price competition I would expect to increase for infrastructure-related projects. Notwithstanding the current market challenges, we have maintained our strong and conservative financial position with very little leverage and $163 million in cash and marketable securities on hand. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. [Indecipherable] kind of surprised about but also you expected to see in the coming six to nine months? We reported net income of $3.5 million in the quarter, down from $5.1 million in the prior year, primarily due to a decline in revenues and gross profit resulting from a decrease in new orders, adverse market conditions and separation costs. A lot of scenarios, John. The fiscal third quarter book-to-bill ratio was 0.7 times revenue. Second quarter revenues increased to $152 million, which was up … All the operations did adjust but heaviest here. Gross profit. There is positive data that says LNG pricing recovers and part of the momentum that we -- that less in this crisis. New orders booked were $81 million in the third quarter compared sequentially to $301 million in the second quarter and down from $145 million in the third quarter of fiscal 2019. Inside Powell Industries Inc's 10-K Annual Report: Financial - Earnings Highlight Net Income/Loss In Fiscal 2019, net income of $9.9 million, or $0.85 per diluted share, improved from a net loss of $7.2 million, or $0.62 per diluted share in Fiscal 2018, primarily due to improved market conditions and efficiencies from increased volume in our domestic and Canadian manufacturing facilities. And with that in mind, one last question. So we're trying to triangulate and formulate like yourselves and everybody else. -- Analyst. So, yes, it was heavier here in the southern part of United States. Market data powered by FactSet and Web Financial Group. Thank you. Specifically, in Q2 2020's revenue was $118.1M; in … Find the latest Revenue & EPS data for Powell Industries, Inc. Common Stock (POWL) at Nasdaq.com. This conference call includes certain statements, including statements related to the Company's expectations of its future operating results that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Offsetting this restructuring costs was a benefit from the successful conclusion of an IRS audit. Annual Revenue $7,178.00; Employee Count 7; Industries Noncommercial Research Organizations; Contacts Christina Powell ; Contact Business. Its customers include engineering-construction firms and end-users in the oil and gas, electric utility, transportation and other heavy industries. Thanks, guys. M. W. Powell Company has 30 total employees across all of its locations and generates $1.38 million in sales (USD). Cost of goods sold. Brett? 198,382. Additional information is available at www.powellkleinschmidt.com or by contacting DONALD D POWELL … While they began small, the company has grown over the past six decades to become the strategic supplier of choice for highly complex and integrated systems for distribution and control of electrical energy and other critical processes. Powell Industries, Inc. engages in the development, design, manufacture, and provision of services of custom-engineered products and systems. Several midsize and large projects have now moved their schedules into 2021 at the earliest while a handful of projects continue to evaluate their direction. Let's conquer your financial goals together...faster. As a result of the ongoing challenges created by the pandemic, the enhanced safety procedures and protocols that have been implemented across all of our operations continue to be in place across the business. As we near the close of our fiscal 2020, we anticipate that the fiscal fourth quarter will be marginally softer than the third quarter. Find the latest Revenue (Quarterly) for Powell Industries Inc (POWL) I just actually want to start with the deferrals you're talking about, jobs that are moving, I guess, out of Q4 into 2021. Activity in the utility and traction markets largely remained steady in the third quarter. The Company's products and services include metal-clad switchgear, metal-enclosed switchgear, motor control, bus duct, utility switches, integrated electrical equipment enclosures, offshore modules, control and monitoring systems, energy management systems, and process control systems-- plus a very large variety of support services including installation and commissioning, spare parts, switchgear life extension, replacement circuit breakers, project management and field support. Revenues reflect Petrochemical segment increase of … The information on how to access the replay was provided in yesterday's earnings release. Revenue (Quarterly) is a widely used stock evaluation measure. 234,209. We're trying to watch and play for. Investors are cautioned that such forward-looking statements involve risks and uncertainties and that actual results may differ materially from those projected in these forward-looking statements. [Operator Instructions] We have a follow-up question from John Franzreb with Sidoti. A question-and-answer session will follow the formal presentation. No problem. Yeah. At this time, all participants are in a listen-only mode. These risks and uncertainties include, but are not limited to, competition and competitive pressures, sensitivity to general economic and industry conditions, international, political and economic risks, availability and price of raw materials and execution of business strategies. Finally, we continue to work with our suppliers to enhance existing safety best practices and mitigate supply chain and logistical challenges. Domestic revenues decreased by $12 million or 12% to $91 million versus the same period one year ago and international revenues decreased by $5 million or 16% versus prior year. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 2019. View the latest POWL financial statements, income statements and financial ratios. Powell Industries's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. 2019. Okay, guys. Our balance sheet remains strong and we will continue to support our customers across a diverse set of end markets to ensure a disciplined approach to the mix and quality of our backlog as we pursue new orders. Regarding your restructurings, are there certain units that you're winding down more so than others as you reevaluate the outlook in the marketplace? Our third quarter result included $1.4 million on a pre-tax basis or $0.12 per diluted share of separation costs as we align our operating expense with current market conditions. Over the last three quarters, Powell Industries Inc's revenue has decreased by 12%. HOUSTON, Aug. 4, 2020 /PRNewswire/ -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2020 third quarter ended June 30, 2020.. I don't know the exact timing or the total number, but it's -- it's about $15 million in planned revenue pushing into what I'd say the first half of '21 right now. With me on the call are Brett Cope, Powell's Chairman and CEO and Mike Metcalf, Powell's CFO. Powell Industries Announces Fiscal 2020 Third Quarter Results HOUSTON, Aug. 4, 2020 /PRNewswire/ -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced results for the fiscal 2020 third quarter ended June 30, 2020. Now I'll update some of our operational initiatives as a result of the pandemic. This contract will convert to revenue over a three-year period. Our continued focus on maintaining margin and reducing costs allowed us to generate over $45 million in free cash flow during the quarter that set a new quarterly record for free cash flow generation. And with that, I'll get back into queue. So I think it's going to be pretty uncertain through the end of the calendar year. Okay. Sorry, John, I misunderstood. Powell Industries, Inc. as a metal-working shop to support the petrochemical facilities. Going forward, we will continue to monitor and support all of our key suppliers. Cope -- President and Chief Executive Officer. Your Email Address Subject: Message. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Over the past few months, as we have completed and shipped a large amount of shorter duration work, we have started the work on new projects that have a longer execution schedule and complexity profile. That was really just a function. 29,685. … We appreciate your continued interest in Powell and look forward to speaking with you all next quarter. Michael W. Metcalf -- Executive Vice President, Chief Financial Officer, Secretary, and Treasurer. Our Mexico based partner resumed operations in June and we continue to run full operations today. There are a few others that people are trying to hold on to and we do have -- we're pretty busy on the inquiry activity but it's sort of a cost out, redo, and they're trying to figure out what their landed price of some of these contracts are going to be and how they're going to justify the job. I will now turn the conference over to your host, Zach Vaughan with Dennard Lascar Investor Relations. No, I guess along those lines what would your expectations be -- it sounds like you're bracing for a -- at least a modestly long down cycle. 21,344. Powell Industries Announces Fiscal 2019 Third Quarter Results | Powell Industries, Inc. No -- but just to make sure I understand, this is existing projects in backlog, this is not new quotation activity or new orders that you'd hope to get. Yeah, it was on the report. Company Summary. With that thank you for your participation on today's call. In addition to increase efficiencies and place a stronger focus on cost, we took the difficult but necessary step to restructure the business by making adjustments to both our fixed and variable costs in order to align the business with current and expected activity levels. It is classified as operating in the Power, Distribution & … Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. That's accurate. Powell Industries revenue from 2006 to 2020. 2020. I think it's a lot earlier to tell. 72,855. I think for the -- what's available when you look at our comments around utility and T&D, generation as well as traction jobs no real change albeit those jobs typically are more competitive anyway. Powell Industries has scheduled a conference call for Wednesday, August 5, 2020 at 11:00 a.m. Eastern time. Okay, great. Appreciate it. 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