Filing Flows › Powell Industries (POWL) › Q2 FY26 › vs Q1 FY26
Powell Industries (POWL) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Powell Industries's revenue rose $45.4M (+18%) from $251M in Q1 FY26 to $297M in Q2 FY26. The biggest changes: Oil and Gas Service +$14.9M (+15%); Commercial and other industrial +$13.8M (+34%); Electric utility +$11.2M (+16%). Gross margin 29.6% against 28.4% (+1.2 pts).
Powell Industries, Q2 FY26: revenue $297M (+6% year over year), operating margin 19.4%, net earnings $45.9M, operating cash flow $51.2M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 29.6% | 28.4% | +1.2 pts |
| Operating margin | 19.4% | 17.0% | +2.4 pts |
| Net margin | 15.5% | 16.5% | -1.0 pts |
| Free cash flow margin | 16.6% | 16.6% | +0.1 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Oil and Gas Service | $113M | $97.9M | $14.9M | +15% |
| Electric utility | $80.5M | $69.3M | $11.2M | +16% |
| Commercial and other industrial | $54.4M | $40.6M | $13.8M | +34% |
| Petrochemical | $27.6M | $22.8M | $4.8M | +21% |
| All others | $12.3M | $12.0M | $342K | +3% |
| Light rail traction power | $9.0M | $8.6M | $434K | +5% |
| Revenue | $297M | $251M | $45.4M | +18% |
| Gross profit | $87.9M | $71.4M | $16.5M | +23% |
| Cost of revenue | $209M | $180M | $28.9M | +16% |
| Other income, net | $4.2M | $4.3M | −$62K | -1% |
| Operating profit | $57.6M | $42.8M | $14.8M | +35% |
| Operating expenses | $30.4M | $28.6M | $1.7M | +6% |
| Pre-tax earnings | $61.8M | $47.0M | $14.7M | +31% |
| Research & development | $4.3M | $3.3M | $1.0M | +31% |
| SG&A | $25.8M | $25.2M | $685K | +3% |
| Other operating costs | $223K | $222K | $1K | +0.5% |
| Net earnings | $45.9M | $41.4M | $4.5M | +11% |
| Income tax | $15.9M | $5.6M | $10.3M | +182% |
| Depreciation & amortization | $2.2M | $2.1M | $33K | +2% |
| Share-based compensation | $1.3M | $1.6M | −$302K | -19% |
| Working capital & other | $1.8M | −$1.5M | $3.3M | — |
| Operating cash flow | $51.2M | $43.6M | $7.5M | +17% |
| Free cash flow (OCF − capex) | $49.3M | $41.6M | $7.7M | +19% |
| Capital expenditures | $1.8M | $2.0M | −$197K | -10% |
Questions
How much did Powell Industries's revenue grow quarter over quarter in Q2 FY26?
Powell Industries's revenue rose $45.4M (+18%) from $251M in Q1 FY26 to $297M in Q2 FY26.
What drove Powell Industries's revenue change in Q2 FY26?
Oil and Gas Service +$14.9M (+15%); Commercial and other industrial +$13.8M (+34%); Electric utility +$11.2M (+16%).