POWL

EX-99.1

2 ex991-powlq2xfy2026earning.htm

EX-99.1

Document

Exhibit 99.1

PRESS RELEASE

For Immediate ReleaseContact:Michael Metcalf, CFO

Powell Industries, Inc.

713-947-4422

Robert Winters or Ryan Coleman

Alpha IR Group

POWL@alpha-ir.com

312-445-2870

POWELL INDUSTRIES ANNOUNCES SECOND QUARTER FISCAL 2026 RESULTS

HOUSTON — May 4, 2026 — Powell Industries, Inc. (NASDAQ: POWL) (“Powell” or the “Company”), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the second quarter Fiscal 2026 ended March 31, 2026. All comparisons are to the second quarter of Fiscal 2025, unless otherwise noted.

Key Highlights:

•Revenues of $297 million increased 6%;

•Gross profit of $88 million, or 29.6% of revenue, increased 5%;

•Net income of $45.9 million, or $1.25 per diluted share(1), declined 1%;

•New orders(2) totaled $490 million, an increase of 97%;

•Backlog(3) as of March 31, 2026 totaled $1.8 billion, an increase of 33%;

•Cash and short-term investments as of March 31, 2026 totaled $545 million;

•Subsequent to quarter end, Powell was awarded a mega(4) data center order with a value exceeding $400 million.

Exhibit 99.1

Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated, “The commercial momentum we observed to start the fiscal year continued throughout the second quarter, driving a well-balanced and strong order total of $490 million which led to a 1.7x book-to-bill ratio. That momentum has continued into our fiscal third quarter as evidenced by the mega(4) data center order we were awarded after the fiscal second quarter-end with a value in excess of $400 million – the largest order in Powell history. Meanwhile, the team continues to demonstrate high levels of project execution, delivering a gross margin of 29.6% in the quarter. We remain acutely focused on executing our key growth objectives and delivering on project schedules for our customers to further Powell’s competitive position against a favorable demand landscape for engineered-to-order distribution solutions.”

Second Quarter Fiscal 2026 Results

Revenues totaled $296.6 million, an increase of 6% compared to $278.6 million in the prior year, and a sequential increase of 18% compared to $251.2 million in the first quarter of Fiscal 2026. The growth compared to the prior year was driven by higher revenue levels from the Commercial & Other Industrial market, which grew 35%, as well as from the Electric Utility and Oil & Gas markets, which grew 14% and 11%, respectively. This was partially offset by lower revenue within the Petrochemical market, which declined 37%. The sequential increase was consistent with the typical seasonal acceleration from the first fiscal quarter driven by a higher number of working days.

Gross profit of $87.9 million, or 29.6% of revenue, increased 5% compared to $83.4 million, or 29.9% of revenue, in the prior year and increased sequentially by 23% compared to $71.4 million, or 28.4% of revenue, in the first quarter of Fiscal 2026. The year‑over‑year increase in gross profit was primarily driven by higher revenues, while the sequential improvement also reflected favorable volume leverage, strong project execution, and a continued stable pricing environment.

New orders totaled $490 million compared to $249 million in the prior year and $439 million in the first quarter of Fiscal 2026. The increases were driven by improved bookings across the Company’s core markets, including the Electric Utility, Commercial & Other Industrial, and Oil & Gas markets. During the quarter, the Company was awarded a mega(4) electric utility order and a mega(4) data center order, each with a value exceeding $75 million. In addition to these mega orders booked in the second fiscal quarter of 2026, subsequent to the end of the second quarter, the

Exhibit 99.1

Company was awarded an additional mega(4) data center order with a value exceeding $400 million related to a behind-the-meter design of on-site generation assets.

Backlog totaled $1.8 billion as of March 31, 2026, an increase of 12% compared to $1.6 billion as of December 31, 2025, and an increase of 33% compared to $1.3 billion as of March 31, 2025.

Net income of $45.9 million, or $1.25 per diluted share, declined 1% compared to $46.3 million, or $1.27 per diluted share as adjusted for the Stock Split(1), in the prior year. The decline was the result of higher SG&A expenses, driven by higher compensation expenses, as well as an increase in R&D expenses. Net income in the quarter increased sequentially by 11% compared to $41.4 million, or $1.13 per diluted share as adjusted for the Stock Split(1), in the first quarter of Fiscal 2026.

On April 2, 2026, we effected a three-for-one forward split of our common stock and proportionately increased the number of authorized common stock from 30,000,000 to 90,000,000. Each shareholder of record as of the close of trading on March 20

powl-20260203FALSE000008042000000804202026-02-032026-02-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): February 3, 2026

POWELL INDUSTRIES, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware001-1248888-0106100 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

8550 Mosley RoadHouston Texas77075-1180 (Address of principal executive offices)(Zip Code)

(713) 944-6900 (Registrant’s Telephone Number, Including Area Code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $0.01 per sharePOWL Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 – Results of Operations and Financial Condition.

On February 3, 2026, Powell Industries, Inc. (NASDAQ: POWL) (the “Company”) issued a press release regarding the Company’s results of operations for its fiscal 2026 first quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in Item 2.02 of this Current Report on Form 8-K (“Current Report”) and Exhibit 99.1 attached hereto is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference. Item 8.01 – Other Events.

On February 3, 2026, the Company also issued a press release announcing that its Board of Directors declared a quarterly cash dividend of $0.27 per share payable to shareholders of record at the close of business on February 18, 2026. This dividend will be paid on March 18, 2026. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. The following exhibits are furnished as part of this Report.

Exhibit Number

Description

99.1 Press Release dated February 3, 2026

99.2 Press Release dated February 3, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

POWELL INDUSTRIES, INC.

Date: February 3, 2026 By:/s/ Michael W. Metcalf Michael W. Metcalf Executive Vice President Chief Financial and Principal Accounting Officer (Principal Financial and Principal Accounting Officer)

powl-20251118FALSE000008042000000804202025-11-182025-11-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): November 18, 2025

POWELL INDUSTRIES, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware001-1248888-0106100 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

8550 Mosley RoadHouston Texas77075-1180 (Address of principal executive offices)(Zip Code)

(713) 944-6900 (Registrant’s Telephone Number, Including Area Code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $0.01 per sharePOWL Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 – Results of Operations and Financial Condition.

On November 18, 2025, Powell Industries, Inc. (NASDAQ: POWL) (the “Company”) issued a press release regarding the Company’s results of operations for its fiscal 2025 fourth quarter and full year ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in Item 2.02 of this Current Report on Form 8-K (“Current Report”) and Exhibit 99.1 attached hereto is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference. Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. The following exhibits are furnished as part of this Report.

Exhibit Number

Description

99.1 Press Release dated November 18, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

POWELL INDUSTRIES, INC.

Date: November 18, 2025 By:/s/ Michael W. Metcalf Michael W. Metcalf Executive Vice President Chief Financial and Principal Accounting Officer (Principal Financial and Principal Accounting Officer)