HOUSTON—William Marshall Mauney Jr., Vice President of Research and Development at Powell Industries Inc. (NASDAQ:POWL), a company that has delivered an impressive 224% return year-to-date and currently maintains a market capitalization of $3.37 billion, recently reported the sale of company stock amounting to $284,161. The transactions, which took place on December 4, involved a total of 1,000 shares of common stock sold at prices ranging from $282.91 to $287.08 per share.
Following the transactions, Mauney holds 5,387 shares of Powell Industries, which include shares with a time-based vesting provision. These sales were executed directly by Mauney, according to the filing with the Securities and Exchange Commission.
In other recent news, Powell Industries reported fourth-quarter earnings that surpassed analyst expectations, but its revenue fell short of projections. The company posted adjusted earnings per share of $3.77 for the quarter, outperforming the consensus estimate of $3.55. However, its revenue was $275 million, under the analyst projections of $286.49 million.
Despite the revenue shortfall, Powell's Q4 sales saw a 32% YoY increase from $208.6 million in the previous year. The company experienced robust growth in its key sectors, with Petrochemical revenue surging 112% to $50.4 million and Oil & Gas revenue rising 23% to $115.4 million.
For the full fiscal year 2024, Powell reported a 45% revenue increase to $1.0 billion, up from $699.3 million in 2023. The company's net income jumped 175% to $149.8 million. As for future expectations, CFO Michael Metcalf expressed optimism for fiscal 2025, citing continued strength across most of their end markets and a robust backlog.
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