Filing Flows › Powell Industries (POWL) › Q3 FY26 › vs Q2 FY26
Powell Industries (POWL) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Powell Industries's revenue rose $15.1M (+5%) from $297M in Q2 FY26 to $312M in Q3 FY26. The biggest changes: Commercial and other industrial +$21.9M (+40%); Petrochemical −$9.1M (-33%); Electric utility +$8.1M (+10%). Gross margin 30.6% against 29.6% (+0.9 pts).
Powell Industries, Q3 FY26: revenue $312M (+9% year over year), operating margin 20.6%, net earnings $52.2M, operating cash flow $100M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 30.6% | 29.6% | +0.9 pts |
| Operating margin | 20.6% | 19.4% | +1.1 pts |
| Net margin | 16.7% | 15.5% | +1.3 pts |
| Free cash flow margin | 30.1% | 16.6% | +13.4 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Oil and Gas Service | $106M | $113M | −$6.5M | -6% |
| Electric utility | $88.6M | $80.5M | $8.1M | +10% |
| Commercial and other industrial | $76.3M | $54.4M | $21.9M | +40% |
| Petrochemical | $18.5M | $27.6M | −$9.1M | -33% |
| All others | $14.1M | $12.3M | $1.8M | +14% |
| Light rail traction power | $8.0M | $9.0M | −$1.1M | -12% |
| Revenue | $312M | $297M | $15.1M | +5% |
| Gross profit | $95.3M | $87.9M | $7.4M | +8% |
| Cost of revenue | $216M | $209M | $7.8M | +4% |
| Other income, net | $5.0M | $4.2M | $844K | +20% |
| Operating profit | $64.1M | $57.6M | $6.5M | +11% |
| Operating expenses | $31.2M | $30.4M | $868K | +3% |
| Pre-tax earnings | $69.1M | $61.8M | $7.3M | +12% |
| Research & development | $4.3M | $4.3M | $11K | +0.3% |
| SG&A | $26.7M | $25.8M | $859K | +3% |
| Other operating costs | $221K | $223K | −$2K | -0.9% |
| Net earnings | $52.2M | $45.9M | $6.3M | +14% |
| Income tax | $17.0M | $15.9M | $1.1M | +7% |
| Depreciation & amortization | $2.2M | $2.2M | −$17K | -0.8% |
| Share-based compensation | $1.4M | $1.3M | $168K | +13% |
| Working capital & other | $44.5M | $1.8M | $42.6M | 24× |
| Operating cash flow | $100M | $51.2M | $49.1M | +96% |
| Free cash flow (OCF − capex) | $93.7M | $49.3M | $44.4M | +90% |
| Capital expenditures | $6.5M | $1.8M | $4.7M | +256% |
Questions
How much did Powell Industries's revenue grow quarter over quarter in Q3 FY26?
Powell Industries's revenue rose $15.1M (+5%) from $297M in Q2 FY26 to $312M in Q3 FY26.
What drove Powell Industries's revenue change in Q3 FY26?
Commercial and other industrial +$21.9M (+40%); Petrochemical −$9.1M (-33%); Electric utility +$8.1M (+10%).