- Powell reported net income of $48.2 million, or $3.96 per diluted share, a 4% increase year-over-year and a record for the quarter.
- Gross profit increased by $6 million to $88 million, with gross margin rising 230 basis points to 30.7%.
- Margin improvement was driven by favorable project closeouts, strong project execution, and volume leverage.
- Unusual items and project cancellations contributed approximately 85 basis points to the margin rate.
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Dafinchi