On this page of StockholderLetter.com we present the latest annual shareholder letter from POWELL INDUSTRIES INC — ticker symbol POWL. Reading current and past POWL letters to shareholders can bring important insights into the investment thesis.
A LEGACY OF TRUST Meeting Tomorrow with on en e POWELL INDUSTRIES ANNUAL REPORT 20 24

Rising to every challenge. Delivering on every promise. In Fiscal 2023, Powell reached an extraordinary Rilestone, oZr rst Gillion GacPloL &s excitinL as this achie[eRent was Kor oZr incrediGle teaRs and [alZed shareholders aliPe, restinL on oZr laZrels has ne[er Geen the Powell way <hat GroZLht Zs to this auspicious moment is what will sustain us well into the Kuture Korward thinPinL clients, Krom a wide ranLe oK industries, who trust the Powell team to stay ahead oK the Lame and sol[e their touLhest electrical distriGution challenLes 1
BRETT A. COPE President (*4 (hairman of the 'oard <e ended Fiscal 202 , another Ganner year, with a healthy GacPloL that extends well into 202 and Geyond [ia roGust acti[ity across most end marPets, includinL maOor traditional oil and Las proOects as well as a LrowinL numGer oK excitinL new de[elopments in petrochemicals, carGon capture, hydroLen, renewaGles and utilities For nearly eight decades, Powell s methodical approach has cemented our reputation as experts in electrical distribution. EXECUTION FUELS MOMENTUM For nearly eiLht decades, Powell s methodical approach has cemented our reputation as experts in electrical distriGution *[ery day, more and more maOor client prospects and e[en pre[ious competitors in[ol[ed in emerLinL technoloLy come to Powell to Korm partnerships in excitinL new proOects where our shared expertise assures mutual success <e are Pnown Kor our inno[ati[e, custom enLineered solutions &s dedicated Gusiness partners, we protect our clients risP throuLh our in house enLineerinL and manuKacturinL capaGilities <e sustain local supply chains in the communities where we worP and li[e Kor more than 90% of the materials we source in the : 8 , (anada, and the :nited 0inLdom 4ur dedicated worPforce ensures that e[ery proOect is done safely, properly, and on time 2 INDUSTRY HIGHLIGHTS AND INSIGHTS 4ur core industrial end marPets dro[e re[enue Lrowth in Fiscal 202 as oil and Las and petrochemical proOects returned, includinL the award of a notaGle petrochemical order for a Lreen eld proOect in 3orth &merica )espite a temporary pause, : 8 13, 1iVue ed 3atural ,as fundamentals also remain promisinL, supportinL lonL term economic and en[ironmental Loals around the LloGe
The electric utility sector also delivered stronL performance across the entire company, with exceptional performance this year in (anada <e are thanPful to all our utility clients and view this marPet as a strateLic imperative for the future of our company <e are also cautiously optimistic aGout the Lrowth in data centers, as maOor players in this arena show interest in Powell s electrical solutions expertise CONTINUOUS IMPROVEMENTS AND INNOVATION Powell remains committed to diversifyinL our product portfolio, allowinL us to capitali_e on new technoloLies across all marPets In Fiscal 202 , we continued siLni cant 7 ) investments to launch new electrical solutions, includinL an *; charLinL unit in the : 0 and a line of Powell station GreaPers in 3orth &merica <hile each of our seven LloGal divisions is hittinL on all cylinders, in ation remains a focus <e are actively manaLinL this challenLe throuLh onLoinL process improvements and cost avoidance strateLies 3
 • shareholder letter icon 1/6/2025 Letter Continued (Full PDF)
 • stockholder letter icon More "Electronic Equipment & Products" Category Stockholder Letters
 • Benford's Law Stocks icon POWL Benford's Law Stock Score = 87


POWL Shareholder/Stockholder Letter Transcript:

A
LEGACY
OF
TRUST
Meeting
Tomorrow
with
  on    en  e
POWELL INDUSTRIES
ANNUAL REPORT
20
24


Rising to every
challenge.
Delivering on
every promise.
In Fiscal 2023, Powell reached an extraordinary
Rilestone, oZr         rst   Gillion GacPloL  &s excitinL
as this achie[eRent was Kor oZr incrediGle teaRs
and [alZed shareholders aliPe, restinL on oZr laZrels
has ne[er Geen the Powell way  
shareholder letter icon 1/6/2025 Letter Continued (Full PDF)
 

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