Powell Industries shares leap after doubling its earnings > POWL

By Colin Kellaher

Shares of Powell Industries rose sharply in early buying and selling on Wednesday after the maker of electrical energy distribution, management and monitoring merchandise and techniques reported robust quarterly outcomes.

Shares of the Houston firm have been just lately buying and selling at $80.44, up 31%.

After the closing bell on Tuesday, Powell mentioned his web earnings for the third quarter of the fiscal 12 months ended June 30 greater than doubled to $18.5 million, or $1.52 per share, from $9.1 million, or 76 cents per share, a 12 months earlier.

The corporate additionally mentioned income jumped 42% to $192.4 million, whereas backlog practically tripled to $1.3 billion.

Write to Colin Kellaher at colin.kellaher@wsj.com

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