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Why Powell Industries Surged Today

TheMotleyFool

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Why Powell Industries Surged TodayPhoto, wide shot, wide-angle lens, Diversified industrial company, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/3bc2ecaa-ddda-4d9f-865e-4df253bbd22f.png

Shares of industrial power systems company Powell Industries (NASDAQ: POWL) rallied 12.7% on Wednesday as of 12:17 p.m. EDT.

Powell held its earnings release last night, and while its top-line revenue figures appeared lackluster, the company did an excellent job of increasing its margins and profits. Furthermore, Powell delivered super-strong orders, giving investors visibility into future growth.

In the first quarter, Powell grew revenue by just 4% to $251 million, missing expectations. However, earnings per share surged 19% to $3.40, which was well ahead of expectations. The earnings outperformance came from an increase in Powell's gross margin to 28.4%, up from 24.7% in the year-ago quarter.

Source Fool.com

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