Powell Industries (POWL): what its 10-K says it depends on

Customers

Engineering, procurement and construction (EPC) firms

earns from

Products and services are principally sold directly to the end user or to an engineering, procurement and construction (EPC) firm on behalf of the end user.Business (Item 1)

Suppliers

Sole-source component suppliers

depends onnamed as a risk

We rely on a limited number of suppliers for certain of our components and raw materials and, in some instances, a single supplier.Risk factors (Item 1A)

Also named by CW, CYRX, ONDS, ONTO, TER, WDC, ZBRA

Partners and platforms

Surety bond markets

depends onnamed as a risk

We are also dependent on the overall bonding capacity, pricing and terms available in the surety markets.Risk factors (Item 1A)

Other companies

Oil and gas industry

earns from · 37%named as a risk

For instance, we have a significant concentration of customers in the oil and gas, petrochemical and electric utility industries.Risk factors (Item 1A)

Also named by EME, PWR, RPM, XEL

Electric utility industry

earns from · 25%named as a risk

For instance, we have a significant concentration of customers in the oil and gas, petrochemical and electric utility industries.Risk factors (Item 1A)

Also named by MYRG, VMI

Petrochemical industry

earns from · 14%named as a risk

For instance, we have a significant concentration of customers in the oil and gas, petrochemical and electric utility industries.Risk factors (Item 1A)

Also named by TRGP

Remsdaq Limited

£13.6 million Pounds Sterling, or $18.4 million

On August 15, 2025, we completed the previously announced business acquisition of Remsdaq Limited (Remsdaq), a U.K.-based manufacturer of Supervisory Control and Data Acquisition (SCADA) Remote Terminal Units (RTUs) for electrical substation control and automation in generation, transmission and distribution, for a total consideration of £13.6 million Pounds Sterling, or $18.4 million, including cash acquired.Business (Item 1)

Light rail traction power market

earns from · 4%

Beyond these major markets, we also provide products and services to the light rail traction power market and other markets that include universities and government entities.Business (Item 1)

Competitors

ABB

competes with

Our principal competitors include ABB, Eaton, Schneider, and Siemens Industries, Inc.Business (Item 1)

Also named by APLD, ENS, FIX, VPG

Eaton

competes with

Our principal competitors include ABB, Eaton, Schneider, and Siemens Industries, Inc.Business (Item 1)

Also named by FIX

Schneider Electric

competes with

Our principal competitors include ABB, Eaton, Schneider, and Siemens Industries, Inc.Business (Item 1)

Also named by FIX

Siemens

competes with

Our principal competitors include ABB, Eaton, Schneider, and Siemens Industries, Inc.Business (Item 1)

Also named by FIX

Places

United Kingdom

earns from · approximately 20% of our consolidated revenuesnamed as a risk

Revenues associated with projects located outside of the United States, including revenues generated from our operations in the U.K. and Canada, accounted for approximately 20% of our consolidated revenues in Fiscal 2025.Risk factors (Item 1A)

Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more

Canada

earns from · approximately 20% of our consolidated revenuesnamed as a risk

Revenues associated with projects located outside of the United States, including revenues generated from our operations in the U.K. and Canada, accounted for approximately 20% of our consolidated revenues in Fiscal 2025.Risk factors (Item 1A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Houston, Texas

operates in · $12.4 million investment

In August 2025, we announced a $12.4 million investment to expand production capacity at our Jacintoport manufacturing facility in Houston, Texas.Business (Item 1)

Also named by BLDR, HHH, MAIN, PB

Hazards

Texas Gulf Coast hurricanes and flooding

concentrated innamed as a risk

A significant portion of our operations are located near the Texas Gulf Coast; as a result, our operations have been and are subject to the potential impacts of weather-related events, including but not limited to hurricanes and flooding.Risk factors (Item 1A)

Commodities and inputs

Steel

exposed to its price · 45% of revenuesnamed as a risk

The principal raw materials used in our operations include steel, copper and aluminum, as well as various engineered electrical components.Business (Item 1)

Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more

Copper

exposed to its price · 45% of revenuesnamed as a risk

The principal raw materials used in our operations include steel, copper and aluminum, as well as various engineered electrical components.Business (Item 1)

Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more

Aluminum

exposed to its price · 45% of revenuesnamed as a risk

The principal raw materials used in our operations include steel, copper and aluminum, as well as various engineered electrical components.Business (Item 1)

Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more

Canadian Dollar

exposed to its pricenamed as a risk

This increase in comprehensive loss was primarily a result of fluctuations in the currency exchange rates for the Canadian Dollar and British Pound Sterling as we re-measured the foreign operations of those divisions.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

British Pound Sterling

exposed to its pricenamed as a risk

This increase in comprehensive loss was primarily a result of fluctuations in the currency exchange rates for the Canadian Dollar and British Pound Sterling as we re-measured the foreign operations of those divisions.Market risk (Item 7A)

Also named by AMG, BGC, BKNG, CBRE, CTRE, FCFS, FDS, FIS and 31 more

Oil and gas prices

exposed to its pricenamed as a risk

Various factors drive demand for our products and services, including the price and demand for oil, gas and electrical energy, capital expenditures, economic forecasts, global political environments (including war and terrorism), anticipated environmental, safety or regulatory changes and the cost of capital.Risk factors (Item 1A)

Also named by CSW, FLR

Regulators

Office of Foreign Assets Control (OFAC)

subject tonamed as a risk

Additionally, compliance with foreign and domestic import and export regulations, including laws and regulations of the U.S. Treasury Department’s Office of Foreign Assets Control, and anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act or the U.K. Bribery Act 2010, and similar laws of other jurisdictions outside the United States, could adversely impact our ability to compete for contracts in the applicable governing jurisdiction.Risk factors (Item 1A)

Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more

Laws and programs

U.S. tariffs

subject tonamed as a risk

Unanticipated shortages in raw material and components, rising prices due to overall inflationary pressure, the imposition of tariffs, or delays in production or transportation could increase production costs or lead times and adversely affect profitability as fixed-price contracts may prohibit our ability to charge the customer for the increase in raw material prices.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

U.S. Foreign Corrupt Practices Act

subject tonamed as a risk

Additionally, compliance with foreign and domestic import and export regulations, including laws and regulations of the U.S. Treasury Department’s Office of Foreign Assets Control, and anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act or the U.K. Bribery Act 2010, and similar laws of other jurisdictions outside the United States, could adversely impact our ability to compete for contracts in the applicable governing jurisdiction.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

One Big Beautiful Bill Act

subject tonamed as a risk

The One Big Beautiful Bill Act (the OBBBA) was recently signed into law and includes a broad range of tax reform provisions affecting businesses.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

OECD Pillar Two

subject tonamed as a risk

The application of these provisions is not always certain, and jurisdictions are still developing their rules and interpretations with regard to the same.Risk factors (Item 1A)

Also named by APO, BAM, BAX, BF/B, CHRW, COHR, CPNG, CRM and 45 more

Inflation Reduction Act

subject tonamed as a risk

For example, the Inflation Reduction Act contains tax inducements and other provisions that incentivize investment, development and deployment of alternative energy sources and technologies, and at the United Nations Climate Change Conference in the United Arab Emirates in 2023, more than 190 governments reached a non-binding agreement to transition away from fossil fuels and encourage the growth and expansion of renewable energy.Risk factors (Item 1A)

Also named by AEE, AMGN, ARWR, BIIB, BKNG, BMY, CAH, CI and 26 more

PFAS regulations

subject tonamed as a risk

In addition, regulations may limit or prohibit the use of a class of chemicals known as per- and polyfluoroalkyl substances (PFAS), which are found in parts, components, and other materials used in products we manufacture or utilize.Risk factors (Item 1A)

Also named by ATR, KDP, SON, WST

Dodd-Frank Act conflict minerals rule

subject tonamed as a risk

As there may be only a limited number of suppliers offering “conflict-free” metals, we cannot be sure that we will be able to obtain necessary metals in sufficient quantities or at competitive prices.Risk factors (Item 1A)

Also named by LFUS, MCHP

California climate disclosure rules

subject tonamed as a risk

For example, the State of California has published new rules that would require companies doing business in California to provide significantly expanded climate-related disclosures in their periodic reporting.Risk factors (Item 1A)

Also named by KIM

U.K. Bribery Act 2010

subject tonamed as a risk

Additionally, compliance with foreign and domestic import and export regulations, including laws and regulations of the U.S. Treasury Department’s Office of Foreign Assets Control, and anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act or the U.K. Bribery Act 2010, and similar laws of other jurisdictions outside the United States, could adversely impact our ability to compete for contracts in the applicable governing jurisdiction.Risk factors (Item 1A)

Research and Development Tax Credits

subject tonamed as a risk

A significant increase in our statutory tax rates or loss of our ability to claim Research and Development Tax Credits could have a material impact on our net income or loss and cash flow.Risk factors (Item 1A)