Powell Industries, Inc. (NASDAQ:POWL) Q2 2023 Earnings Conference Call May 3, 2023 11:00 AM ET

Company Participants

Ryan Coleman - Alpha IR Group

Brett Cope - Chairman, President & CEO

Michael Metcalf - EVP, CFO, Secretary & Treasurer

Conference Call Participants

John Franzreb - Sidoti & Company

Jonathan Braatz - Kansas City Capital Associates

Operator

Welcome to the Powell Industries earnings conference call. [Operator Instructions].

I'd like to turn the conference over to Ryan Coleman, Investor Relations. Thank you. You may begin.

Ryan Coleman

Thank you, and good morning, everyone. Thank you for joining us for Powell Industries conference call today to review fiscal year 2023 second quarter results. With me on the call are Brett Cope, Powell's Chairman and CEO; and Mike Metcalf, Powell's CFO.

There will be a replay of today's call and it will be available via webcast by going to the company's website, powellind.com, or a telephonic replay will be available until May 10. The information on how to access the replay was provided in yesterday's earnings release. Please note that the information reported on this call speaks only as of today, May 3, 2023, and therefore, you are advised that any time-sensitive information may no longer be accurate at the time of replay listening or transcript reading.

This conference call includes certain statements, including statements related to the company's expectations of its future operating results that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties and that actual results may differ materially from those projected in these forward-looking statements. These risks and uncertainties include, but are not limited to, competition and competitive pressures, sensitivity to general economic and industry conditions, international, political and economic risks, availability and price of raw materials and execution of business strategies. For more information, please refer to the company's filings with the Securities and Exchange Commission.

With that, I'll now turn the call over to Brett.

Brett Cope

Thank you, Ryan. Good morning. Thank you for joining us today to review Powell's fiscal 2023 second quarter results. I will make a few comments and then turn the call over to Mike for more financial commentary before we take your questions.

I'm very pleased to share that Powell delivered second quarter results that were among the best in our history as the continued execution against our strategic initiatives combined with the cyclical recovery of our core markets are driving improved margins and increased earnings along with achieving another record backlog. The momentum that started to build over the past few quarters in our industrial markets accelerated in the second quarter.