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The company has an impressive earnings surprise history, the average beat being 77.6%. In the last reported quarter, its earnings of $1.98 per share surpassed the Zacks Consensus Estimate of $1.00 by 98%.
Let’s see how things have shaped up for Powell this earnings season.
Key Factors and Estimates for Q2
Solid momentum across petrochemical, oil and gas, utility and commercial and other industrial sectors is expected to have aided the company’s performance in the second quarter of fiscal 2024. Also, strength in the core oil and gas markets (excluding petrochemical) is likely to have driven Powell’s results.
Investment in POWL’s Houston facility, which expanded fabrication and integration support for its large power control rooms, is expected to have bolstered top-line results.
The Zacks Consensus Estimate for the company’s second-quarter fiscal 2024 revenues is pegged at $206 million, suggesting an increase of 20.5% from the year-ago quarter’s reported figure. The consensus estimate for the company’s adjusted earnings is pinned at $1.89 per share, indicating a 170% decline from the year-ago quarter’s reported number.
However, over time, Powell’s performance has been negatively impacted by high costs and expenses. An increase in raw material cost is likely to have been a spoilsport in the to-be-reported quarter.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which are likely to have hurt its performance.
Our proven model does not conclusively predict an earnings beat for POWL this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Powell has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.89. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Powell presently carries a Zacks Rank of 2.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
The company is slated to release first-quarter results on May 3. ATMU delivered a trailing four-quarter earnings surprise of 20.3%, on average.
Chart Industries, Inc. (GTLS - Free Report) has an Earnings ESP of +9.86% and a Zacks Rank of 2. The company is slated to release first-quarter 2024 results on May 3.
Chart Industries’ earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average beat being 75.9%.
Axon Enterprise, Inc. (AXON - Free Report) has an Earnings ESP of +5.97% and a Zacks Rank of 3, at present.
The company is scheduled to release first-quarter 2024 results on May 6. Axon’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 58.7%.
Image: Bigstock
Powell (POWL) Gears Up to Post Q2 Earnings: Is a Beat Likely?
Powell Industries, Inc. (POWL - Free Report) is scheduled to release second-quarter fiscal 2024 (ended Mar 31, 2024) results on Apr 30, after market open.
The company has an impressive earnings surprise history, the average beat being 77.6%. In the last reported quarter, its earnings of $1.98 per share surpassed the Zacks Consensus Estimate of $1.00 by 98%.
Let’s see how things have shaped up for Powell this earnings season.
Key Factors and Estimates for Q2
Solid momentum across petrochemical, oil and gas, utility and commercial and other industrial sectors is expected to have aided the company’s performance in the second quarter of fiscal 2024. Also, strength in the core oil and gas markets (excluding petrochemical) is likely to have driven Powell’s results.
Investment in POWL’s Houston facility, which expanded fabrication and integration support for its large power control rooms, is expected to have bolstered top-line results.
The Zacks Consensus Estimate for the company’s second-quarter fiscal 2024 revenues is pegged at $206 million, suggesting an increase of 20.5% from the year-ago quarter’s reported figure. The consensus estimate for the company’s adjusted earnings is pinned at $1.89 per share, indicating a 170% decline from the year-ago quarter’s reported number.
However, over time, Powell’s performance has been negatively impacted by high costs and expenses. An increase in raw material cost is likely to have been a spoilsport in the to-be-reported quarter.
The company’s international presence exposes it to the risk of adverse currency fluctuations, which are likely to have hurt its performance.
Powell Industries, Inc. Price and EPS Surprise
Powell Industries, Inc. price-eps-surprise | Powell Industries, Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for POWL this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Powell has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.89. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Powell presently carries a Zacks Rank of 2.
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings in this reporting cycle.
Atmus Filtration Technologies Inc. (ATMU - Free Report) has an Earnings ESP of +0.57% and a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is slated to release first-quarter results on May 3. ATMU delivered a trailing four-quarter earnings surprise of 20.3%, on average.
Chart Industries, Inc. (GTLS - Free Report) has an Earnings ESP of +9.86% and a Zacks Rank of 2. The company is slated to release first-quarter 2024 results on May 3.
Chart Industries’ earnings have surpassed the Zacks Consensus Estimate in three of the trailing four quarters while missing the mark in one, the average beat being 75.9%.
Axon Enterprise, Inc. (AXON - Free Report) has an Earnings ESP of +5.97% and a Zacks Rank of 3, at present.
The company is scheduled to release first-quarter 2024 results on May 6. Axon’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 58.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.