Powell Industries, Inc. (NASDAQ:POWL) Q1 2023 Earnings Conference Call February 1, 2023 11:00 AM ET

Company Participants

Ryan Coleman - Alpha IR Group

Brett Cope - President and Chief Executive Officer

Michael Metcalf - Executive Vice President, Chief Financial Officer, Secretary, and Treasurer

Conference Call Participants

John Franzreb - Sidoti & Company

Jon Braatz - Kansas City Capital

Operator

Welcome to the Powell Industries Earnings Conference Call. [Operator Instructions]. Please also note this event is being recorded. I would like to turn the conference over to Ryan Coleman, Investor Relations. Thank you. You may begin sir.

Ryan Coleman

Thank you operator and good morning, everyone. Thank you for joining us for Powell Industries Conference Call today to review Fiscal Year 2023 first 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 February 08. The information on how to access the replay was provided in yesterday's earnings release.

Please note that information reported on this call speaks only as of today, February 1, 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

Thanks Ryan. And good morning everyone. Thank you for joining us today to review Powell’s fiscal 2023 first 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.

Powell delivered a great start in fiscal year as the momentum we experienced in the second half of last year from our core oil and gas and petrochemical markets carried into the start of 2023 and was further complemented by solid growth within the quarter in our utility in commercial and other industrial markets. These strong results remained the function of the team's commitment to our customers as well as our broader deliberate focus on our strategic initiatives to create a more resilient and diversified pile that will lead to stronger growth across the economic cycle.