Update: Powell Industries Shares Jump on Higher Fiscal Q3 Earnings, Sales-February 2024-www.financetom.com

Update: Powell Industries Shares Jump on Higher Fiscal Q3 Earnings, Sales

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Update: Powell Industries Shares Jump on Higher Fiscal Q3 Earnings, Sales

Jul 31, 2024 9:58 AM

12:31 PM EDT, 07/31/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Powell Industries ( POWL ) shares jumped 34% in recent trading Wednesday, a day after reporting more than double fiscal Q3 earnings.

The company reported fiscal Q3 earnings late Tuesday of $3.79 per diluted share, up from $1.52 a year earlier.

Two analysts polled by Capital IQ expected $2.16.

Revenue for the quarter ended June 30 was $288.2 million, up from $192.4 million a year earlier.

Two analysts surveyed by Capital IQ expected $222.2 million.

Shares of the company were 26% higher in premarket activity Wednesday.

Price: 178.65, Change: +45.40, Percent Change: +34.07

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