Shares fell 5.2% after earnings as investors reacted to signs of margin pressure and a cautious outlook, overshadowing a record backlog and strong order intake.
- New orders hit a record $934 million in Q3, nearly triple year-ago levels, driven notably by a $400 million mega data center project.
- Backlog surpassed $2.4 billion, the highest in company history, providing extended visibility into fiscal 2028.
- Third quarter revenue grew 9% year-over-year, led by industrial, oil and gas, and electric utility markets.
- Gross margin narrowed to 30.6%, signaling margin compression despite productivity efforts.
- Management emphasized cautious capital deployment and a conservative M&A approach due to elevated valuations.
Community Discussion