August 3, 2026
We view a topline miss as non-core (PetChems) as Powell dazzles us with major order flow – 3.0x book-to-bill vs. our 2.2x as a take-or-pay backlog accelerates +71% Y/Y. Expect management to further lay out…
July 14, 2026
Channel checks with leading EPCs & OEMs and key customers emphasize switchgear lead-times are continuing to expand even as we believe POWL prepares to announce plans to accelerate a multi-year capacity expansion. The substation –…
May 4, 2026
Powell Industries missed GAAP revs / GMs / EPS but we expect the focus to be on a single $400mm+ data center order we believe to be with a hyperscaler / colocation provider. POWL’s F2Q…
March 5, 2026
We initiate coverage of POWL at HOLD with a $450PT as channel checks and management commentary call into question the data center narrative priced into the stock. We model +MSD% upside to sellside numbers, but…