Powell Industries, Inc. (POWL) Financial Statements (2024 and earlier)

Company Profile

Business Address 8550 MOSLEY DR
HOUSTON, TX 77075
State of Incorp. NV
Fiscal Year End September 30
Industry (SIC) 3613 - Switchgear and Switchboard Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
MRQ
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments279,009116,508133,981178,921124,68149,754
Cash and cash equivalents245,875101,954114,314160,216118,63936,584
Short-term investments33,13414,55419,66718,7056,04213,170
Restricted cash and investments      19,154
Receivables206,691106,21678,46570,424112,32699,452
Inventory, net of allowances, customer advances and progress billings63,86550,41529,83528,96829,20221,352
Inventory63,86550,41529,83528,96829,20221,352
Prepaid expense5,4194,6794,3824,4024,3353,775
Contract with customer, asset, after allowance for credit loss60,62188,35154,19950,99555,374 
Other current assets6,3803,8141,5991,9482,650630
Other undisclosed current assets      82,545
Total current assets:621,985369,983302,461335,658328,568276,662
Noncurrent Assets
Operating lease, right-of-use asset1,4362,1793,4535,217 
Property, plant and equipment97,62598,628109,457114,372120,812128,764
Intangible assets, net (including goodwill), including:1,0031,0031,0031,1611,3371,514
Goodwill 1,0001,0001,0001,0001,0001,000
Other undisclosed intangible assets, net (including goodwill)333161337514
Restricted cash and investments      5,987
Deferred income tax assets17,0649,1614,6393,6445,117
Other noncurrent assets13,12912,42615,17912,22611,57711,087
Other undisclosed noncurrent assets      5,937
Total noncurrent assets:130,257123,397133,731136,620138,843153,289
TOTAL ASSETS:752,242493,380436,192472,278467,411429,951
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities115,117131,24476,90870,75086,03266,489
Taxes payable1,7201,0761,861913897
Employee-related liabilities24,78520,39521,73920,18222,274
Accounts payable56,66663,42345,24735,02951,18040,714
Accrued liabilities58,45141,31610,19012,12113,7572,604
Deferred revenue279,79679,85742,43379,44571,464
Debt   400400400400
Other liabilities      7,786
Other undisclosed current liabilities773(24,728)1,4152,352 43,174
Total current liabilities:395,686186,373121,156152,947157,896117,849
Noncurrent Liabilities
Long-term debt and lease obligation, including:  5452,4134008001,200
Long-term debt, excluding current maturities    4008001,200
Other undisclosed long-term debt and lease obligation    (3,434)  
Liabilities, other than long-term debt11,5309,25611,4008,8719,5629,258
Deferred compensation liability, classified9,1457,7498,6136,7106,4475,902
Other liabilities1,7221,5072,7872,1613,1153,356
Operating lease, liability6635452,4133,434 
Other undisclosed noncurrent liabilities    3,434  
Total noncurrent liabilities:11,5309,80113,81312,70510,36210,458
Total liabilities:407,216196,174134,969165,652168,258128,307
Equity
Equity, attributable to parent, including:345,026297,206301,223306,626299,153301,644
Treasury stock, value(24,999)(24,999)(24,999)(24,999)(24,999)(24,999)
Additional paid in capital71,52667,43963,94861,99859,15356,769
Accumulated other comprehensive loss(26,909)(28,998)(20,356)(24,513)(24,547)(21,779)
Retained earnings325,281283,638282,505294,016289,422291,530
Other undisclosed equity, attributable to parent127126125124124123
Total equity:345,026297,206301,223306,626299,153301,644
TOTAL LIABILITIES AND EQUITY:752,242493,380436,192472,278467,411429,951

Income Statement (P&L) ($ in thousands)

12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues699,308532,582470,559518,499517,180448,716
Cost of revenue
(Cost of Goods and Services Sold)
(551,755)(447,564)(395,496)(423,924)(430,204)(383,361)
Gross profit:147,55385,01875,06394,57586,97665,355
Operating expenses(85,033)(77,794)(74,044)(75,504)(75,515)(74,477)
Operating income (loss):62,5207,2241,01919,07111,461(9,122)
Nonoperating income 6,4302,6192771,4871,1031,630
Investment income, nonoperating 6,4303342779811,103883
Other nonoperating income  2,285 506 747
Interest and debt expense   (204)(228)(230)(207)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:68,9509,8431,09220,33012,334(7,699)
Other undisclosed income from continuing operations before income taxes      
Income (loss) from continuing operations before income taxes:68,9509,8431,09220,33012,334(7,699)
Income tax expense (benefit)(14,425)3,894(461)(3,670)(2,444)547
Income (loss) from continuing operations:54,52513,73763116,6609,890(7,152)
Income (loss) before gain (loss) on sale of properties:13,73763116,6609,890(7,152)
Net income (loss) available to common stockholders, diluted:54,52513,73763116,6609,890(7,152)

Comprehensive Income ($ in thousands)

12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):54,52513,73763116,6609,890(7,152)
Other comprehensive loss (40)(99)(26)(7)(7)(20)
Other undisclosed comprehensive loss      
Comprehensive income (loss):54,48513,63860516,6539,883(7,172)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent2,129(8,543)4,18341(2,761)(3,005)
Comprehensive income (loss), net of tax, attributable to parent:56,6145,0954,78816,6947,122(10,177)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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