Earlier in the week, on December 2, Birchall acquired 2,100 shares as part of the company's long-term equity compensation plan, valued at approximately $570,066, with an average price of $271.46 per share. This acquisition was part of a performance-vesting restricted stock unit agreement. After these transactions, Birchall maintains a significant stake in the company, with a portion of his shares subject to time-based vesting provisions. Trading at a P/E ratio of 23.14, InvestingPro data shows Powell Industries (NASDAQ:POWL) currently appears overvalued compared to its Fair Value. Subscribers can access 12 additional ProTips and comprehensive financial analysis in the Pro Research Report. Trading at a P/E ratio of 23.14, InvestingPro data shows Powell Industries currently appears overvalued compared to its Fair Value. Subscribers can access 12 additional ProTips and comprehensive financial analysis in the Pro Research Report.
Earlier in the week, on December 2, Birchall acquired 2,100 shares as part of the company's long-term equity compensation plan, valued at approximately $570,066, with an average price of $271.46 per share. This acquisition was part of a performance-vesting restricted stock unit agreement. After these transactions, Birchall maintains a significant stake in the company, with a portion of his shares subject to time-based vesting provisions.
In other recent news, Powell Industries, Inc. has reported Q4 earnings that surpassed analyst expectations, despite a shortfall in revenue. The electrical equipment manufacturer posted adjusted earnings per share of $3.77, beating the consensus estimate of $3.55. However, revenue was reported at $275 million, falling short of analyst projections of $286.49 million.
Despite the revenue miss, Powell's Q4 sales saw a 32% YoY increase from $208.6 million in the prior year period. The company experienced strong growth across its key sectors, with Petrochemical revenue surging 112% to $50.4 million and Oil & Gas revenue rising 23% to $115.4 million.
For the full fiscal year 2024, Powell reported revenue of $1.0 billion, a 45% increase from $699.3 million in 2023. Net income also saw a significant jump of 175% to $149.8 million, or $12.29 per diluted share. These are among the recent developments in the company.
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