On August 4, Powell declined 13.54% overnight, trading at $189.97/share, with turnover of $190.0. The sell-off was triggered after the company released its fiscal third-quarter earnings report post-market, with both revenue and earnings per share falling short of Wall Street expectations.
The earnings report showed Powell posted fiscal Q3 revenue of $312 million, below the IBES consensus estimate of $315.2 million. Adjusted EPS came in at $1.42, missing the FactSet estimate of $1.57. Net income for the quarter was $52 million. Prior to the report, investors had held elevated expectations for high-margin order delivery pace and energy end-market capital expenditure resilience, driving the stock up approximately 5% during regular trading. However, the actual results failed to meet those optimistic projections, causing accumulated bullish sentiment to rapidly unwind and triggering significant post-market selling pressure.
The company also announced a quarterly cash dividend of $0.09 per share, payable on September 16 to shareholders of record as of August 19.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments