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. 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 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.
IES Holdings, Inc. (NASDAQ: IESC) has acquired Wedlake Fabricating, Inc., a Tulsa-based manufacturer of custom generator enclosures. This acquisition enhances IES's Infrastructure Solutions segment, expanding its manufacturing capacity and geographic reach in the Midwest, an area identified for significant growth potential. Wedlake's operational expertise combines with IES’s resources to strengthen market opportunities. Wedlake will retain its name, and Brian Wedlake, Jr. will take on the role of general manager. The move aims to grow the Wedlake brand and improve product offerings for customers.
IES Holdings, Inc. (NASDAQ: IESC) has acquired K.E.P. Electric, Inc., a Batavia, OH-based electrical contractor specializing in residential electrical systems. KEP generated approximately $30 million in revenue in 2019 and will become part of IES's Residential segment. This acquisition is part of IES's strategy to expand into growth markets, particularly in Greater Cincinnati, Columbus, and Kentucky. Both companies aim to leverage synergies for improved market presence and customer service.
IES Holdings, Inc. (NASDAQ: IESC) has appointed Jeffrey L. Gendell as its Chief Executive Officer, a role he has fulfilled on an interim basis since July 31, 2020. Gendell, who is also the Chairman of the Board, is the managing member and founder of Tontine Associates, L.L.C., the Company’s majority shareholder. He has been a board member since November 2016. IES provides electrical contracting and infrastructure services across various markets, employing approximately 5,500 individuals in the U.S.
IES Holdings, Inc. (NASDAQ: IESC) will release its fiscal 2020 third quarter results before the market opens on August 7, 2020. The company provides electrical contracting and infrastructure services across various markets, including data centers and residential housing. With approximately 5,500 employees, IES serves clients throughout the United States.
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