Ies Holdings Inc Stock Price, News & Analysis

A consortium led by Mason Capital Management has entered into a definitive agreement to acquire CB&I, a leading storage solutions business, from McDermott International, . The all-cash equity transaction will establish CB&I as an independent company with no funded debt. CB&I, founded in 1889, is a global leader in designing and building storage facilities for energy and industrial markets, employing over 4,000 people across 30 locations worldwide.

The acquisition aims to leverage CB&I's potential as a standalone enterprise, with the existing management team continuing to lead the company. Post-transaction, CB&I will have a debt-free balance sheet and a new revolving credit facility, positioning it to capitalize on strong market demand and energy transition storage solutions. The deal is expected to close in Q4 2024, subject to customary closing conditions.

IES Holdings (NASDAQ: IESC) has appointed John Louis Fouts to its Board of Directors, effective September 23, 2024. Jeff Gendell, IES's Chairman and CEO, expressed confidence in Fouts' valuable addition to the Board, citing his extensive background in investment management and finance. Fouts currently serves as the managing member at Fouts Family Investments, a private investment holding company, and as a Trustee of the Georgia Tech Foundation, where he chairs the Investments Committee.

Fouts' professional history includes roles as a partner at Water Street Capital, CEO of e-dr.com, and an associate at Caxton He also worked as a consultant at Boston Consulting Group. Fouts holds a B.S. in Industrial Engineering from Georgia Institute of Technology and an M.B.A. from Harvard Business School.

IES Holdings (NASDAQ: IESC) reported strong financial results for Q3 fiscal 2024. Revenue increased 31% to $768 million, while operating income surged 163% to $90.2 million. Net income attributable to IES rose 175% to $62.1 million, with diluted EPS of $2.67. The company saw growth across all segments, particularly in Residential and Communications, driven by expansion of service offerings and strong demand in the data center market. Backlog stood at $1.7 billion as of June 30, 2024. The Board authorized a new $200 million share repurchase program. IES made strategic acquisitions to support growth and expand product offerings. The company expects continued strong performance for the remainder of fiscal 2024 and into fiscal 2025.

IES Holdings (NASDAQ: IESC) has announced the schedule for its fiscal 2024 third quarter earnings release. The company will disclose its financial results before the market opens on Friday, August 2, 2024. This announcement sets the stage for investors and analysts to gain insights into the company's performance for the quarter ending June 30, 2024. As a provider of electrical, communications, and infrastructure services, IES Holdings' quarterly results are closely watched by stakeholders for indicators of growth, profitability, and overall financial health in the industrial and construction sectors.

IES Holdings, Inc. reported strong financial results for the second quarter of fiscal 2024, with revenue reaching $706 million, operating income at $77.7 million, and net income of $52.9 million. The company also completed the acquisition of Greiner Industries to expand its product offerings and capacity. Future performance looks promising due to increased demand in various segments. The company remains debt-free and has cash reserves of $106.0 million.

IES Holdings, Inc. (IESC) is set to announce its fiscal 2024 second quarter results on May 3, 2024. Investors are eagerly anticipating the earnings release to gauge the company's financial performance.