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) 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.
IES Holdings, Inc. (NASDAQ: IESC) has acquired an 80% stake in Edmonson Electric, LLC, a Florida-based provider of electrical and HVAC installation services, for an undisclosed amount. Edmonson reported approximately $107 million in revenue over the last 12 months. This acquisition enhances IES's market presence in Florida, adding to their existing services in electrical, HVAC, and plumbing. The partnership will leverage Edmonson's established management team and customer relationships. Edmonson will continue to operate under its brand while benefiting from IES's resources for future growth.
IES Holdings, Inc. (NASDAQ: IESC) announced the termination of its Tax Benefit Protection Plan (NOL Rights Plan), effective May 21, 2021, earlier than planned. The NOL Rights Plan was designed to protect the availability of the company's federal net operating loss carryforwards. CEO Jeff Gendell highlighted that this decision was made considering the substantial utilization of NOLs and shareholder feedback. The company anticipates tax savings from the remaining NOLs, further strengthening its financial position and growth strategy.
IES Holdings, Inc. (NASDAQ: IESC) reported a strong financial performance for the second quarter of fiscal 2021, with revenue soaring to $332 million, a 14% increase from the previous year. Operating income surged 86% to $17.1 million, and net income rose 106% to $12.8 million, translating to diluted EPS of $0.58. Adjusted net income grew 94% to $15.5 million. The company noted a backlog of $707 million and remaining performance obligations of $614 million. Despite challenges like high input costs and severe winter weather, IES's diversified operations position it for continued growth.
IES Holdings, Inc. (NASDAQ: IESC) will announce its fiscal 2021 second quarter results on April 30, 2021, before market opening. The company specializes in designing and installing electrical and technology systems across various industries, including data centers and residential housing. With over 5,000 employees, IES serves a wide range of clients in the U.S. This upcoming earnings report is anticipated to provide insights into the company's financial health and operational performance in the first half of 2021.
FAQ
What is the current stock price of Ies Holdings (IESC)?
What is the market cap of Ies Holdings (IESC)?
What does IES Holdings, Inc. do?
Where is IES Holdings, Inc. located?
What are the main business segments of IES Holdings?
How did IES Holdings perform financially in the first quarter of fiscal 2024?
What services does the Residential segment provide?
What was the revenue for the Communications segment in the first quarter of fiscal 2024?
Does IES Holdings have a stock repurchase program?
How many employees does IES Holdings have?
What is the contact information for IES Holdings' Investor Relations?
What are the future growth plans for IES Holdings?
