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How Powell Industries (POWL) makes money
Powell Industries (POWL) made $312M of revenue in the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier. Oil and Gas Service brought in $106M (34%); Electric utility brought in $88.6M (28%); Commercial and other industrial brought in $76.3M (24%). Of every dollar of revenue, 31¢ was left as gross profit, 21¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Oil and Gas Service | $106M | 34.1% | -6% | +0.8% |
| Electric utility | $88.6M | 28.4% | +10% | +18% |
| Commercial and other industrial | $76.3M | 24.5% | +40% | +54% |
| Petrochemical | $18.5M | 5.9% | -33% | -49% |
| All others | $14.1M | 4.5% | +14% | +23% |
| Light rail traction power | $8.0M | 2.6% | -12% | -7% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $312M | 100.0% |
| Cost of revenue | $216M | 69.4% |
| Gross profit | $95.3M | 30.6% |
| Operating expenses | $31.2M | 10.0% |
| Operating profit | $64.1M | 20.6% |
| Income tax | $17.0M | 5.4% |
| Net earnings | $52.2M | 16.7% |
| Operating cash flow | $100M | 32.2% |
| Free cash flow | $93.7M | 30.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $312M | +9% |
| Q2 FY26 | $297M | +6% |
| Q1 FY26 | $251M | +4% |
| Q4 FY25 | $298M | +8% |
| Q3 FY25 | $286M | -0.7% |
| Q2 FY25 | $279M | +9% |
| Q4 FY24 | $275M | +32% |
From Powell Industries' 10-Q filed Aug 4, 2026 (on EDGAR).
Questions
How does Powell Industries make money?
Powell Industries (POWL) made $312M of revenue in the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier. Oil and Gas Service brought in $106M (34%); Electric utility brought in $88.6M (28%); Commercial and other industrial brought in $76.3M (24%). Of every dollar of revenue, 31¢ was left as gross profit, 21¢ was left as operating profit, 17¢ was left as net earnings.
What is Powell Industries' biggest business?
Oil and Gas Service: $106M in the third quarter fiscal 2026, 34% of revenue, +0.8% from a year earlier.
What is Powell Industries' profit margin?
Net earnings were $52.2M, 16.7% of revenue, in the third quarter fiscal 2026; the operating margin was 20.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.