Ies Holdings Inc Stock Price, News & Analysis

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.

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.