Cash and short-term investments increased to $433 million, with no debt on the balance sheet.
Domestic revenues decreased by 8% due to project timing, while international revenues increased 39%, driven by Canadian and Middle East/Africa operations.
Electric Utility market revenues grew 31%, Commercial and Other Industrial by 18%, and traction market by 61%, albeit from a small base.
Gross profit increased by $6 million to $88 million, with gross margin improving by 230 basis points to 30.7%.
Net income rose 4% year-over-year to $48.2 million, generating a record quarterly EPS of $3.96.
New orders totaled $362 million, a 2% increase from the prior year, with a book-to-bill ratio of 1.3x and backlog growth of 7% to $1.4 billion.
Operating cash flow was $47 million, and capital expenditures totaled $5.1 million related to facility expansion and new equipment.
Powell Industries reported third quarter fiscal 2025 revenue of $286 million, roughly flat compared to $288 million in the prior year period.
SG&A expenses increased by $3 million to $25 million, driven by higher compensation and acquisition-related costs, with SG&A as a percentage of revenue rising to 8.8%.
Adjusted EBITDA was $76 million, with EBITDA at $66 million for the quarter.
Adjusted homebuilding gross margin was 20%, down from 21.6% in Q1, driven mainly by increased incentives.
Adjusted net income was $42 million or $1.37 per diluted share, with net income at $35 million or $1.14 per diluted share.
Average sales price decreased 3% year-over-year to $378,000, primarily due to higher incentives.
Financial Services revenues were $23.8 million with pretax income of $6.2 million, including a $4 million gain from mortgage servicing rights sale.
In Q2 2025, Century Communities delivered 2,587 homes, a 13% sequential increase and slightly down year-over-year, with home sales revenues of $976 million, up 10% sequentially.
Inventory impairment charge of $7 million was taken related to 5 communities in closeout phase, primarily in Florida.
Net homebuilding debt to net capital ratio was 31%, slightly up from 30.1% in Q1, with homebuilding debt to capital ratio at 33.3%.
SG&A was 13.2% of home sales revenue in Q2, with full year 2025 expected around 13%.
Share repurchases totaled $48 million in Q2, averaging a 37% discount to book value, with 5% of shares repurchased year-to-date.
Adjusted EBITDA increased by $3.1 million year-over-year in Q4 but declined $35.5 million for the full year.
Advertising as a percentage of revenue declined 120 basis points to 11.3% in Q4, contributing to a 5% growth in contribution profit and slight margin improvement.
Consolidated Q4 revenue grew 4% on a reported basis and 2% on an organic constant currency basis; full year revenue grew 3% on both reported and constant currency basis.
Currency fluctuations, notably euro strengthening, benefited adjusted EBITDA by $3.6 million in Q4.
Gross margin compressed by 110 basis points in Q4, including a $3 million tariff impact, but gross profit dollars grew year-over-year.
Legacy products such as business cards declined, with Vista's business cards down 6% in Q4, impacting gross margins due to product mix shift.
Tariff impacts primarily affected National Pen and promotional products with Chinese origin; mitigated through pricing and sourcing.
Vista's organic constant currency revenue grew 4% in Q4, driven by promotional products, apparel, gifts, signage, packaging, and labels.
Year-over-year adjusted EBITDA decline driven by non-repeating fiscal '24 benefits and one-time negative items in fiscal '25.
Adjusted diluted EPS improved compared to last year, supported by EBITDA gains but partially offset by lower interest income and higher depreciation.
Adjusted EBITDA improved year-over-year due to higher sales volumes and lower production costs, including $8.3 million in lower inventory reserves.
Second quarter revenue increased 84% year-over-year, driven by ramp-up in sales of magnet precursor products and record NdPr oxide production at Mountain Pass.
Sequentially, adjusted EBITDA declined due to reduced sales of REO concentrate following strategic decision to stockpile excess production.
Dafinchi