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 Statements of Cash Flows (Unaudited)
| Three months ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Operating Activities: | ||
| Net income | $24,085 | $1,162 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation | 1,641 | 2,136 |
| Stock-based compensation | 1,657 | 1,307 |
| Mark-to-market loss on derivative contracts | 41 | — |
| Bad debt expense (recovery), net | (29) | 6 |
| Deferred income taxes | (165) | (895) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 38,095 | (44,547) |
| Contract assets and liabilities, net | 41,711 | 78,298 |
| Inventories | (5,604) | (4,406) |
| Income taxes | 5,508 | 1,048 |
| Prepaid expenses and other current assets | (826) | 368 |
| Accounts payable | (6,992) | (24,149) |
| Accrued liabilities | (16,387) | (12,741) |
| Other, net | 1,163 | 1,864 |
| Net cash provided by (used in) operating activities | 83,898 | (549) |
| Investing Activities: | ||
| Maturities of short-term investments | — | 3,690 |
| Purchases of property, plant and equipment | (1,235) | (2,726) |
| Purchase of intangible assets | (250) | — |
| Proceeds from sale of property, plant and equipment | — | 11 |
| Net cash provided by (used in) investing activities | (1,485) | 975 |
| Financing Activities: | ||
| Shares withheld in lieu of employee tax withholding | (4,752) | (423) |
| Dividends paid | (3,124) | (3,074) |
| Net cash used in financing activities | (7,876) | (3,497) |
| Net increase (decrease) in cash and cash equivalents | 74,537 | (3,071) |
| Effect of exchange rate changes on cash and cash equivalents | 988 | 749 |
| Cash and cash equivalents at beginning of period | 245,875 | 101,954 |
| Cash and cash equivalents at end of period | $321,400 | $99,632 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.