logo
  

Powell Industries Inc. (POWL) Is Sinking After 2014 Outlook Slashed

Powell Industries Inc. (POWL) announced after the close Thursday that it now expects fiscal 2014 earnings from continuing operations to be $1.25 to $1.45 per share, compared to its previous guidance of $2.15 to $2.40 per share. The company also lowered its fiscal 2014 revenues guidance to a range of $630 to $640 million from its previous guidance of $650 to $675 million. Analysts are expecting EPS of $2.17, on revenue of $663.53 million.

Powell Industries gapped open sharply lower Friday morning and is now down 4.56 at $45.16 on above average volume. The stock has dropped below a month and a half long range and has set a new low for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Pharma Stocks by Subscribing to RTT Biotech Investor.

First quarter growth data from China gained the maximum focus this week as trends in the massive emerging economy impact its trading partners. Elsewhere, the IMF released its latest global macroeconomic projections. Read our story to find out why comments from the Fed Chair Powell damped rate cut expectations. Meanwhile, there was some survey data that kindled hopes of a recovery in manufacturing. In the U.K., inflation data for March revealed some confusing trends.

View More Videos
Follow RTT