Why Powell Industries Fell Today
Powell's revenue growth may seem unexciting, given the recent need for more electricity to power artificial intelligence (AI) data centers, which is leading to a reacceleration in electricity demand in the U.S. In that light, there was a lot going on under the surface. Powell's electric utility segment was actually up a whopping 31%, so that fits in with the current trends. Additionally, commercial and light industrial revenue was up 18%. The electrical infrastructure company came up short on the revenue fr ...