Powell Industries, Inc. (NASDAQ:POWL) Q4 2022 Earnings Conference Call December 6, 2022 11:00 AM ET

Company Participants

Ryan Coleman - Alpha IR Group

Brett Cope - President and Chief Executive Officer

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

Conference Call Participants

Jon Braatz - Kansas City Capital

John Franzreb - Sidoti & Company

John Deysher - Pinnacle

Tom Spiro - Spiro capital

Operator

Good morning. And welcome to the Powell Industries Fiscal Fourth Quarter 2022 Results Conference Call. [Operator Instructions]. Please note that this event is being recorded. I would now like to turn the conference over to Ryan Coleman, Investor Relations. Please go ahead, sir.

Ryan Coleman

Thank you, and good morning, everyone. Thank you for joining us for Powell Industries Conference Call today to review Fiscal Year 2022 fourth quarter and full year 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 December 13. 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, December 6, 2022, 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 actual future 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. And good morning, everyone. Thank you for joining us today to review Powell’s fiscal 2022 fourth quarter and full year results.

We’ll make a few comments and then turn the call over to Mike for more financial commentary before we take your questions. Powell delivered a very strong fourth quarter to close out our fiscal year. Our deliberate and strategic efforts are yielding tangible results that are creating a more resilient, diversified and less cyclical future Powell that will lead to stronger growth across the economic cycle. I'm also incredibly proud of how our team has performed since the onset of the pandemic and its adverse effects on our business. After a challenging period of lower industrial activity throughout fiscal 2021 and into early fiscal 2022, we now enter our fiscal 2023 with the highest backlog in Powell’s history. And across all the business, we are on an extremely strong financial footing while macro-economic factors such as elevated costs and the global supply chain certainly remain headwinds, we are in a very solid position to continue to execute our strategic initiatives and deliver improved profitability.