IES Holdings, Inc. reports recurring developments across subsidiaries that design and install integrated electrical and technology systems and provide infrastructure products and services. Company news commonly covers segment results for Communications, Residential, Infrastructure Solutions, and Commercial & Industrial, including demand from data center and distribution center markets, residential electrical, HVAC, plumbing, and solar installation services.
Updates also address operating and financial results, earnings release schedules, capital spending for organic growth, acquisition activity tied to capacity expansion, marketable securities investments, and equity investment income. Governance, shareholder voting matters, material agreements, and capital-structure disclosures appear as related corporate news categories.
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.
IES Holdings announced the appointment of Elizabeth D. Leykum to its Board of Directors on April 19, 2021. Leykum brings over 20 years of experience in corporate governance and finance, currently serving as founder of Serenade Capital LLC. Previously, she co-founded HEG Capital LLC and worked at ESL Investments. Leykum's expertise is expected to enhance the board's strategic oversight. IES, operating in integrated electrical and technology systems, employs over 5,000 people and serves various markets including data centers and commercial facilities.
IES Holdings, Inc. (NASDAQ: IESC) announced its first quarter 2021 financial results, reporting revenue of $315 million, a 14% increase year-over-year. Operating income rose 28% to $15.9 million, while net income surged 42% to $12.1 million, or $0.58 per diluted share. Adjusted net income was $14.8 million, equating to $0.71 per diluted share. The company reported a backlog of approximately $632 million and expressed confidence in navigating challenges posed by the COVID-19 pandemic while focusing on safety and customer needs.
IES Holdings, Inc. (NASDAQ: IESC) will announce its fiscal 2021 first quarter results on February 5, 2021, before market opening. The company operates in the design and installation of integrated electrical and technology systems across various sectors, including data centers and residential housing. With a workforce of over 5,000 employees, IES serves a wide range of clients throughout the United States.
IES Holdings, Inc. (NASDAQ: IESC) has acquired an 80% stake in Bayonet Plumbing, Heating and Air-Conditioning, LLC, a Florida-based provider of HVAC and plumbing services, with trailing 12-month revenue of approximately $86 million. This acquisition aims to expand IES's geographic footprint and enhance its residential market service offerings. Bayonet will continue to operate under its name, with its current leadership retaining a 20% interest. The deal positions IES for growth in the Florida market, integrating HVAC and plumbing services into its residential segment.
IES Holdings reported strong financial results for Q4 and the fiscal year ended September 30, 2020. Q4 revenue rose 13% to $330 million, while net income was $14.6 million, or $0.68 per diluted share, reflecting a 47% increase from the prior year. Fiscal 2020 revenue reached $1.2 billion, an 11% increase year-over-year, with net income of $41.6 million, or $1.94 per diluted share. Adjusted net income surged 41% to $54.2 million. A backlog of $602 million positions the company well for future growth despite a goodwill impairment charge of $7 million.
IES Holdings, Inc. (NASDAQ: IESC) is set to release its fiscal 2020 fourth quarter and year-end results on December 7, 2020, before market opening. The company focuses on integrated electrical and technology systems, along with infrastructure products and services for various end markets, including data centers and residential housing. With over 5,000 employees, IES serves clients across the United States. This upcoming earnings report may provide insights into the company's financial performance and operational status.