Powell Industries, Inc. (NASDAQ:POWL) Q4 2024 Results Conference Call November 20, 2024 11:00 AM ET

Company Participants

Ryan Coleman - IR
Brett Cope - Chairman & CEO
Mike Metcalf - CFO

Conference Call Participants

John Franzreb - Sidoti & Company
Jon Braatz - Kansas City Capital

Operator

Welcome to the Powell Industries’ Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Ryan Coleman of 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 2024 Q4 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 November 27. 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, November 20, 2024, 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, and good morning, everyone.

Thank you for joining us today to review Powell's fiscal 2024 fourth quarter and full year 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 strong Q4 performance that saw revenue grow 32% compared to the prior year, helping the company achieve a total of $1 billion in revenue for the full fiscal year and marking a significant growth milestone and record year for the company. We experienced tremendous growth in each of our key markets throughout fiscal 2024 with our top-line growing by 45% compared to fiscal 2023.