POWELL INDUSTRIES INC
For the period ended Dec 31, 2023. Filed Jan 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Jan 31, 2024
POWL$138.21-2.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share data)
| December 31, 2023 | September 30, 2023 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $321,400 | $245,875 |
| Short-term investments | 33,943 | 33,134 |
| Accounts receivable, less allowance for credit losses of $244 and $273 | 169,477 | 206,591 |
| Contract assets | 67,594 | 60,621 |
| Inventories | 69,682 | 63,865 |
| Income taxes receivable | 64 | 100 |
| Prepaid expenses | 5,252 | 5,419 |
| Other current assets | 7,413 | 6,380 |
| Total Current Assets | 674,825 | 621,985 |
| Property, plant and equipment, net | 98,318 | 97,625 |
| Operating lease assets, net | 1,218 | 1,436 |
| Goodwill and intangible assets, net | 1,503 | 1,003 |
| Deferred income taxes | 17,229 | 17,064 |
| Other assets | 14,856 | 13,129 |
| Total Assets | $807,949 | $752,242 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $50,173 | $56,666 |
| Contract liabilities | 328,888 | 279,796 |
| Accrued compensation and benefits | 11,637 | 29,947 |
| Accrued product warranty | 3,680 | 3,305 |
| Current operating lease liabilities | 645 | 773 |
| Income taxes payable | 11,985 | 6,517 |
| Other current liabilities | 20,843 | 18,682 |
| Total Current Liabilities | 427,851 | 395,686 |
| Deferred compensation | 10,965 | 9,145 |
| Long-term operating lease liabilities | 573 | 663 |
| Other long-term liabilities | 2,240 | 1,722 |
| Total Liabilities | 441,629 | 407,216 |
| Commitments and Contingencies (Note F) | ||
| Stockholders' Equity: | ||
| Preferred stock, par value $0.01; 5,000,000 shares authorized; none issued | — | — |
| Common stock, par value $0.01; 30,000,000 shares authorized; 12,765,936 and 12,668,001 shares issued, respectively; 11,959,918 and 11,861,983 shares outstanding, respectively | 127 | 127 |
| Additional paid-in capital | 68,854 | 71,526 |
| Retained earnings | 346,162 | 325,281 |
| Treasury stock, 806,018 shares at cost | (24,999) | (24,999) |
| Accumulated other comprehensive loss | (23,824) | (26,909) |
| Total Stockholders' Equity | 366,320 | 345,026 |
| Total Liabilities and Stockholders' Equity | $807,949 | $752,242 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.