Welcome to our dedicated page for IES Holdings news (Ticker: IESC), a resource for investors and traders seeking the latest updates and insights on IES Holdings stock.
IES Holdings, Inc. (NASDAQ: IESC) is a leading provider of electrical and technology systems, as well as infrastructure products and services. Headquartered in Plano, Texas, IES operates through four primary business segments: Communications, Residential, Infrastructure Solutions, and Commercial & Industrial.
The Residential segment, which is the largest revenue generator for the company, offers electrical installation services for single-family homes and multi-family apartment complexes. This segment also includes heating, ventilation, and air conditioning (HVAC) services, plumbing installation, and residential solar power services for both new and existing homes.
The Communications segment specializes in designing and installing integrated technology systems. In the first quarter of fiscal 2024, this segment reported a revenue of $170.7 million, a 16% increase year-over-year, driven by strong demand from high-tech manufacturing and e-commerce distribution centers.
The Infrastructure Solutions segment focuses on custom power solutions including generator enclosures. In the first quarter of fiscal 2024, this segment achieved a 28% revenue increase, reaching $62.9 million, primarily due to high demand in its custom power solutions business.
The Commercial & Industrial segment provides electrical and technology solutions for commercial and industrial facilities. For the first quarter of fiscal 2024, revenue increased by 41% to $85.0 million, thanks to a significant data center project and improved project execution.
IES Holdings' recent financial performance has been robust. The company reported a 10% increase in revenue and a notable improvement in operating margins for the first quarter of fiscal 2024. Operating income grew to 9.1% of revenue, reflecting strong demand and improved market conditions.
IES Holdings is committed to optimizing operational processes and exploring growth opportunities. The company boasts a strong balance sheet with a cash balance of $87.5 million and no debt, positioning it well for future investments and strategic acquisitions. In December 2022, the Board of Directors authorized a stock repurchase program of up to $40 million, with $37.6 million still available under this authorization as of December 31, 2023.
IES Holdings, Inc. (NASDAQ: IESC) will release its fiscal 2022 first quarter results on February 2, 2022, prior to market opening. The Company specializes in designing and installing integrated electrical and technology systems across multiple sectors, such as data centers, residential housing, and commercial facilities. With a workforce exceeding 6,500 employees, IES is positioned to cater to a diverse clientele in the U.S. More details on IES's operations can be found at www.ies-co.com.
IES Holdings, Inc. (NASDAQ: IESC) announced the appointment of Jennifer A. Baldock to its Board of Directors as of December 31, 2021. Baldock brings extensive board leadership and governance experience from her roles at CCF Holdings, Greenwich Emergency Medical Service, and others. She previously held senior positions at World Color Press. The company also announced the resignation of Joseph L. Dowling III from the board, effective the same date, due to increased professional commitments. This leadership change is expected to enhance the board's skill set.
IES Holdings, Inc. (NASDAQ: IESC) has appointed Matthew Simmes as its new Chief Operating Officer. Previously, Simmes served as President of the Communications segment since 2017, where he led significant growth and market expansion. This transition allows CEO Jeff Gendell to focus on strategic initiatives while Simmes manages day-to-day operations. With 28 years at IES, Simmes aims to enhance service delivery and foster a thriving workplace culture. His appointment is seen as a pivotal moment for IES, leveraging existing talent to drive future growth.
IES Holdings reported robust financial results for Q4 and FY 2021, with a 46% increase in Q4 revenue to $484 million, and a 29% increase in FY revenue to $1.5 billion. Operating income surged 109% to $30.1 million in Q4, and 71% to $85.6 million for the year. Net income jumped 54% year-over-year to $22.4 million in Q4, with diluted EPS rising to $1.07. Despite supply chain challenges, strong demand across segments, notably Residential, drove these results. The company completed four strategic acquisitions, increasing capabilities and market reach.
IES Holdings, Inc. (NASDAQ: IESC) is set to disclose its fiscal 2021 fourth quarter and year-end results on December 3, 2021, prior to market opening.
IES specializes in designing and installing integrated electrical and technology systems, serving diverse segments including data centers, residential housing, and commercial and industrial facilities. The company employs over 6,500 people across the United States.
IES Holdings announced an investment in Automation Intellect, a SaaS company specializing in machine performance analytics located in Charlotte, NC. This marks IES's first early-stage investment aimed at enhancing technology in manufacturing. IES's Communication segment will serve as the preferred installation partner for Automation Intellect’s platform. CEO Jeff Gendell emphasized the potential for growth and cross-selling opportunities. Automation Intellect plans to bolster its sales team with this funding, aligning closely with IES's operational goals.
IES Holdings, Inc. reported third-quarter fiscal 2021 results showcasing a 38% revenue increase to $406 million, driven by strong demand across all segments. Operating income rose 60% to $22.5 million and net income increased 57% to $19.3 million, with diluted EPS of $0.92. The company’s backlog amounted to $825 million. Key highlights include a 73% surge in Residential segment revenue and the acquisition of Edmonson Electric, enhancing market capabilities amidst ongoing economic recovery.
IES Holdings, Inc. (NASDAQ: IESC) will release its fiscal 2021 third quarter results on Thursday, August 5, 2021, before the market opens. The company, which operates as a holding entity with over 5,700 employees, designs and installs integrated electrical and technology systems. IES serves diverse markets, including data centers, residential housing, and commercial and industrial facilities across the United States.
IES Holdings, Inc. (NASDAQ: IESC) has acquired the remaining 20% ownership of STR Mechanical, LLC, enhancing its stake after initially buying 80% in 2016. STR, based in Charlotte, provides HVAC services and temperature control installations across the Carolinas and Virginia. CEO Jeff Gendell expressed gratitude towards STR’s former CEO and emphasized IES’s commitment to expanding its mechanical services through organic growth and strategic acquisitions.
IES Holdings announced that its leadership team will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 8:00 a.m. Eastern Time. The presentation will be led by Jeff Gendell, CEO; Tracy McLauchlin, CFO; and Will Albright, VP of Corporate Development. A copy of their presentation will be available on IES's website under the Investor Relations section prior to the event. IES is a provider of electrical and technology systems, serving various markets across the U.S. with over 5,700 employees.
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