Segment Information

3 Months Ended

Dec. 31, 2025

We manage our business as one reportable operating segment and our revenues are primarily generated from the development,

design, manufacturing and servicing of custom-engineered equipment and systems for the distribution, control and monitoring

of electrical energy.

Our chief operating decision maker (“CODM”) is our chief executive officer. The CODM manages and allocates resources on a

total consolidated basis by assessing performance of revenues and earnings before interest and taxes (“EBIT”) using actual-to-actual, actual-to-plan and actual-to-forecast variance analysis. The measure of segment profit and loss regularly provided to the

CODM that is most consistent with GAAP is consolidated net income, as presented in our Consolidated Statements of Operations. The CODM does not manage cost components by product, customer type or service type, nor does the CODM regularly receive disaggregated information at this level.

For the three months ended December 31, 2025 and 2024, the summary of segment net income, including segment expenses, for our single reportable segment were as follows (in thousands):


	Three months ended December 31,
	2025		2024
Revenues	$	251,184	$	241,431
Segment operating expenses:
Cost of goods sold	179,766		181,907
General and administrative expenses	17,292		14,851
Sales and marketing expenses	7,745		6,731
Research and development expenses	3,267		2,476
Other expense (income)(1)	343		(106)
Total segment operating expenses	208,413		205,859
Operating income / EBIT	42,771		35,572
Interest income, net	(4,265)		(3,865)
Income tax provision	5,646		4,674
Segment net income	$	41,390	$	34,763

Gross profit	71,418		59,524

(1) Other expense includes realized currency loss (gain) of $0.1 million and $(0.1) million, respectively.

Revenues by country represent sales to unaffiliated customers as determined by the ultimate destination of our products and services, summarized for the three months ended December 31, 2025 and 2024 (in thousands):


	Three months ended December 31,
	2025		2024
United States	$	194,878	$	197,772
Canada	32,459		31,694
Middle East and Africa	9,872		4,558
Europe	8,226		5,528
Asia/Pacific	5,303		1,580
Mexico, Central and South America	446		299
Total revenues	$	251,184	$	241,431

Long-lived assets by country consist of property, plant and equipment, net of accumulated depreciation and are determined based on the location of the tangible assets, summarized below (in thousands):



	December 31, 2025		September 30, 2025
Long-lived assets:
United States	$	71,437	$	70,699
Canada	32,931		32,744
United Kingdom	7,464		7,606
Total	$	111,832	$	111,049

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

POWELL INDUSTRIES INC 10-Q