Filing Flows › Powell Industries (POWL) › Q1 FY26
Powell Industries (POWL) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 4, 2026
Powell Industries (POWL) reported revenue of $251M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -16% from the quarter before. Operating margin was 17.0%, net earnings $41.4M (16.5% of revenue).
Powell Industries, Q1 FY26: revenue $251M (+4% year over year), operating margin 17.0%, net earnings $41.4M, operating cash flow $43.6M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $251M | -16% | +4% |
| Gross profit | $71.4M | -24% | +20% |
| Operating profit | $42.8M | -32% | +20% |
| Net earnings | $41.4M | -20% | +19% |
| Operating cash flow | $43.6M | -29% | +18% |
| Free cash flow | $41.6M | -30% | +19% |
What changed
Revenue was $251.2M in Q1 FY26, up 4% year over year and down 16% from the previous quarter. Oil and Gas Service was the largest line at 39% of revenue. Electric utility added $18.0M year over year (up 35%), 185% of the total change. Petrochemical declined 31%.
Gross margin was 28.4%, up 3.8 points from a year earlier. Operating profit was $42.8M, a 17.0% margin (up 2.3 points year over year). Of the extra revenue versus a year earlier, 74% reached operating profit, above the 15% margin then. Operating expenses grew 20% against revenue growth of 4%. The fastest-growing cost line was Research & development (+32%). Net earnings were $41.4M, up 19% year over year. The effective tax rate was 12.0%.
Operating cash flow was $43.6M (up 18% year over year), 105% of net earnings. Non-cash charges added back $2.1M of depreciation and amortization and $1.6M of share-based compensation. Capital expenditures of $2.0M left free cash flow of $41.6M.
Questions
What was Powell Industries' revenue in the first quarter fiscal 2026?
Powell Industries (POWL) reported revenue of $251M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -16% from the quarter before.
Was Powell Industries profitable in the first quarter fiscal 2026?
Operating profit was $42.8M (17.0% of revenue) and net earnings $41.4M.
Source: Powell Industries 10-Q on SEC EDGAR.