Terry B. McKertcher, Vice President of Operations at Powell Industries Inc. (NASDAQ:POWL), recently sold 1,700 shares of the company's common stock. The transaction, which took place on December 4, 2024, was executed at an average price of $290 per share, amounting to a total value of $493,000. The sale comes amid Powell Industries' impressive 206% year-to-date stock performance, with shares trading near $292.
Earlier, on December 2, 2024, McKertcher acquired 2,100 shares under the company's long-term equity compensation plan. These shares were granted as part of a performance-vesting restricted stock unit agreement, at an average price of $271.46 per share, totaling approximately $570,066.
Following these transactions, McKertcher's direct ownership in Powell Industries stands at 8,500 shares. The sales and acquisitions reflect ongoing adjustments in the executive's stock holdings as part of his compensation and investment strategy. According to InvestingPro analysis, Powell Industries maintains a "Great" financial health score and currently trades slightly above its Fair Value, with a P/E ratio of 23.14.
In other recent news, Powell Industries has reported its Q4 earnings, which surpassed analyst expectations, despite the revenue falling short of estimates. The electrical equipment manufacturer posted adjusted earnings per share of $3.77 for the quarter, beating the consensus estimate of $3.55. However, the revenue was $275 million, missing the projected $286.49 million. Notably, Powell's Q4 sales still marked a 32% YoY increase from $208.6 million in the prior year, with key sectors such as Petrochemical and Oil & Gas experiencing significant growth.
The company's full fiscal year 2024 report showed a revenue of $1.0 billion, a 45% increase from $699.3 million in 2023. Powell's net income also saw a substantial rise of 175% to $149.8 million. As recent developments suggest, CFO Michael Metcalf expressed optimism for fiscal 2025, citing "continued strength across most of our end markets" and a robust backlog, despite acknowledging the company's first quarter is typically seasonally slower.
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