Stock Track | Powell Shares Plunge 15.5% in Pre-Market on Growth Concerns after Q3 Revenue Miss

Stock Track11-20

Powell Industries (POWL) experienced a sharp 15.5% decline in its stock price during pre-market trading on Wednesday. This plunge comes after the company reported its fiscal third-quarter 2024 financial results on Tuesday, which missed Wall Street's revenue expectations despite beating earnings estimates.

The electrical energy control systems manufacturer posted revenue of $275.1 million for the third quarter, falling short of the anticipated $286.5 million. While Powell's adjusted earnings per share of $3.77 exceeded consensus estimates of $3.55, and its adjusted EBITDA of $57.91 million surpassed expectations of $54.87 million, the revenue miss raised concerns among investors regarding the company's future growth prospects.

Analysts have projected a revenue growth of only 7.2% over the next 12 months for Powell, a significant deceleration compared to the previous two years. This slower growth projection, coupled with the third-quarter revenue miss, has likely contributed to the pre-market sell-off, as investors re-evaluate the company's growth trajectory and potential challenges.

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This plunge comes after the company reported its fiscal third-quarter 2024 ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"POWL","symbol_name":"Powell Industries","start_time":0,"source_url":"","article_id":"1150017168","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1150017168","pubTimestamp":1732096455,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Powell Industries  experienced a sharp 15.5% decline in its stock price during pre-market trading on Wednesday. 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