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Get filing alertsPowell Industries reports record $934M orders, $2.4B backlog on $400M+ data center win
Filed August 3, 2026 · Period ending August 3, 2026 · ~1 min read
Key Changes
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New orders hit record $934M (up 158% YoY) with three mega orders: $400M+ data center project for behind-the-meter generation, $75M petrochemical fertilizer order, and $60M Gulf Coast LNG order. Backlog reached $2.4B, up 69% YoY and 35% sequentially.
Exhibit 99.1 view on EDGAR → -
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Q3 FY2026 revenues $312M (up 9%), gross profit $95M at 30.6% margin (up 8%), net income $52M or $1.42 per diluted share (up 8%). Growth driven by 54% increase in Commercial & Other Industrial and 18% in Electric Utility, offset by 49% Petrochemical decline.
Exhibit 99.1 view on EDGAR → -
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Cash and short-term investments totaled $634M as of June 30, 2026. Jacintoport fabrication yard expansion expected complete by fiscal year-end 2026; company evaluating additional greenfield capacity beyond Houston and Ohio leased facilities.
Exhibit 99.1 view on EDGAR → -
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Board declared quarterly cash dividend of $0.09 per share, payable September 16, 2026 to shareholders of record August 19, 2026.
Item 8.01 verify on EDGAR → -
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Completed three-for-one forward stock split effective April 2, 2026 for shareholders of record March 20, 2026. Authorized shares increased from 30M to 90M; split-adjusted trading began April 6, 2026.
Exhibit 99.1 view on EDGAR →
Summary
Powell Industries delivered a standout quarter driven by explosive order growth in high-demand end markets. The company secured $934 million in new orders—a 158% year-over-year surge—highlighted by three mega orders including a $400 million-plus data center project for behind-the-meter on-site generation assets.
Additional wins in petrochemical fertilizer ($75M) and Gulf Coast LNG export ($60M) pushed backlog to $2.4 billion, up 69% year-over-year and 35% sequentially. The 3.0x book-to-bill ratio signals strong revenue visibility extending well into future quarters.
Operating results showed steady execution: Q3 revenues of $312 million rose 9% with gross margin holding at 30.6%, translating to net income of $52 million or $1.42 per diluted share (up 8%). Revenue mix shifted toward Commercial & Other Industrial (up 54%) and Electric Utility (up 18%), offsetting a 49% Petrochemical decline. With $634 million in cash and the Jacintoport fabrication yard expansion nearing completion, Powell is positioning capacity to convert its record backlog. The company is also evaluating additional greenfield expansions beyond existing leased facilities in Houston and Ohio to support sustained demand across core markets. The Board declared a $0.09 quarterly dividend payable September 16, 2026.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Powell Industries disclosed Q3 FY2026 financial results via press release for the quarter ended June 30, 2026.
Added in current filing · verify on EDGAR →
On August 3, 2026, Powell Industries, Inc. (NASDAQ: POWL) (the “Company”) issued a press release regarding the Company’s results of operations for its fiscal 2026 third quarter ended June 30, 2026.
Powell Industries announced its financial results for the third quarter of fiscal year 2026, which ended June 30, 2026. The 8-K itself does not contain the actual financial figures; those are in the attached press release (Exhibit 99.1), which was not provided in this filing body.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
New orders(2) totaled $934 million, an increase of 158%;
•Backlog(3) as of June 30, 2026 totaled $2.4 billion, an increase of 69%;
The company received record new orders of $934 million in Q3 FY2026, representing a 158% year-over-year increase and a 3.0x book-to-bill ratio. Total backlog reached $2.4 billion as of June 30, 2026, up 69% year-over-year and 35% sequentially from March 31, 2026. This substantial order intake and backlog growth indicates strong future revenue visibility.
Added in current filing · view on EDGAR →
Powell was awarded three mega(4) orders during the fiscal third quarter, including the previously announced data center order with a value exceeding $400 million, as well as orders in the Petrochemical market and the LNG end market ... one for a data center with a value exceeding $400 million related to a behind-the-meter design of on-site generation assets, a Petrochemical order with a value of approximately $75 million in the fertilizer industry, and a LNG order with a value of approximately $60 million to support the liquefaction and export of LNG along the U.S. Gulf Coast.
Powell secured three mega orders (each exceeding $50 million) during the quarter: a data center order valued over $400 million for behind-the-meter on-site generation assets, a $75 million petrochemical order in the fertilizer industry, and a $60 million LNG order for Gulf Coast liquefaction and export facilities. These large orders demonstrate Powell's competitive position in high-growth end markets.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 4, 2026 · How we verify