Powell Industries tanks after Q3 revenue miss - POWL News | RalliesPowell Industries tanks after Q3 revenue miss
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POWL• Q3 revenue miss weighs on shares
- Shares of electrical equipment supplier Powell Industries
POWL.O fall over 14% to $188.15 in premarket trading.
POWL on Monday, after market close, posted Q3 revenue of $312 million, up 9% yr/yr, but missed Wall Street estimates of $315.2 million.- Q3 net income increased 8% yr/yr, driven by higher revenues and strong gross margins.
- Quarterly gross profit came in at $95 million.
- Four of six brokerages rate the stock "buy"; their median price target is $320 - LSEG-compiled data.
- Up to last day's close, the stock is up 106.8% YTD.
