Business
IES Holdings Reports Fiscal 2020 Second Quarter Results
- Revenue of $291 million, an increase of 13% year-over-year- Net Income Per Share of $0.29 and Adjusted Net Income Per Share of $0.38 HOUSTON, May 05, 2020
About this update from Ies Holdings, Inc.
[{"type":"text","content":"- Revenue of $291 million, an increase of 13% year-over-year- Net Income Per Share of $0.29 and Adjusted Net Income Per Share of $0.38 \n HOUSTON, May 05, 2020 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter ended March 31, 2020. Second Quarter 2020 Highlights Revenue of $291 million for the second quarter of fiscal 2020, an increase of 13.4% compared with $257 million for the same quarter of fiscal 2019Operating income of $9.2 million for the second quarter of fiscal 2020, an increase of 12.3% compared with $8.2 million for the same quarter of fiscal 2019Net income attributable to IES of $6.2 million, or $0.29 per diluted share, for the second quarter of fiscal 2020, compared with $5.5 million, or $0.26 per diluted share, for the same quarter of fiscal 2019Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) decreased (2.4)% to $8.0 million, or $0.38 per diluted share, for the second quarter of fiscal 2020, compared with $8.2 million, or $0.38 per diluted share, for the same quarter of fiscal 2019Remaining performance obligations, a GAAP measure of future revenue to be recognized from current contracts with customers, of approximately $469 million as of March 31, 2020Backlog (a non-GAAP financial measure, as defined below) of approximately $587 million as of March 31, 2020 Six Months 2020 Highlights Revenue of $567 million for the first six months of fiscal 2020, an increase of 13.3% compared with $501 million for the same period of fiscal 2019Operating income of $21.6 million for the first six months of fiscal 2020, an increase of 22.0% compared with $17.7 million for the same period of fiscal 2019Net income attributable to IES of $14.7 million, or $0.69 per diluted share, for the first six months of fiscal 2020, compared with $12.4 million, or $0.58 per diluted share, for the same period of fiscal 2019Adjusted net income attributable to IES increased 16.3% to $19.3 million, or $0.91 per diluted share, for the first six months of fiscal 2020, compared with $16.6 million, or $0.77 per diluted share, for the same period of fiscal 2019 Management CommentaryGary Matthews, Chief Executive Officer, stated, “The safety and health of our employees, customers, and communities are our top priority and I am proud of how...