POWELL INDUSTRIES INC

Powell Industries, Inc. (NASDAQ: POWL) is a Delaware corporation founded in 1947 that designs, manufactures and services custom-engineered equipment and systems for distributing, controlling and monitoring electrical energy across industrial and utility applications. The company operates through wholly owned subsidiaries including Powell Electrical Systems, Powell Canada, Powell (UK) Limited, and Powell Industries International Limited, with its website at powellind.com.

The company serves four primary market sectors. Oil and gas represented 37 percent of revenues in fiscal 2025, encompassing upstream, midstream and downstream operations including onshore and offshore production, liquefied natural gas facilities, pipelines and refineries, as well as emerging markets in hydrogen production and carbon capture. Electric utility accounted for 25 percent of revenues, serving both power generation and distribution end markets. Commercial and other industrial markets contributed 16 percent of revenues, including data centers, metals and mining, and pulp and paper operations. Petrochemical markets represented 14 percent of revenues, with light rail traction power and other sectors comprising the remaining 8 percent.

Powell's principal products include integrated power control room substations, electrical houses, distribution switchgear, medium-voltage circuit breakers, motor control centers, and monitoring and control communications systems, designed for voltages ranging from 480 volts to 38,000 volts. The company provides both ANSI and IEC standard designs and offers spare parts, retrofit components, and field service including installation, commissioning and repair services. Each project is custom-engineered to meet specific customer requirements, with products sold directly to end users or through engineering, procurement and construction firms.

As of September 30, 2025, Powell employed 3,143 full-time employees and 315 contract employees located primarily in the United States, Canada and the United Kingdom. The company maintains a backlog of $1.4 billion as of fiscal year-end 2025. Material costs represented 45 percent of revenues in fiscal 2025. Powell competes with multinational firms including ABB, Eaton, Schneider and Siemens Industries, differentiating itself through custom engineering capabilities, technical expertise, project management acumen and financial strength. In August 2025, Powell completed the acquisition of Remsdaq Limited, a U.K.-based manufacturer of supervisory control and data acquisition remote terminal units for electrical substation control and automation.