IES Holdings Reports Fiscal 2021 Third Quarter Results

About this update from Ies Holdings, Inc.

[{"type":"text","content":"HOUSTON, Aug. 05, 2021 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter ended June 30, 2021. Third Quarter 2021 Highlights Revenue of $406 million for the third quarter of fiscal 2021, an increase of 38% compared with $293 million for the same quarter of fiscal 2020Operating income of $22.5 million for the third quarter of fiscal 2021, an increase of 60% compared with $14.1 million for the same quarter of fiscal 2020Net income attributable to IES increased 57% to $19.3 million for the third quarter of fiscal 2021, compared with $12.3 million for the same quarter of fiscal 2020; diluted earnings per share attributable to common stockholders of $0.92 compared with $0.58 for the third fiscal quarters of 2021 and 2020, respectivelyAdjusted net income attributable to IES (a non-GAAP financial measure, as defined below) increased 62% to $20.7 million compared with $12.8 million for the same quarter of fiscal 2020; adjusted diluted earnings per share attributable to common stockholders (a non-GAAP financial measure, as defined below) of $0.99 compared with $0.60 for the third fiscal quarters of 2021 and 2020, respectivelyRemaining performance obligations of $669 million and backlog (a non-GAAP financial measure, as defined below) of $825 million as of June 30, 2021Acquired Edmonson Electric, adding to IES Residential capabilitiesTerminated NOL Rights Plan effective May 21, 2021 Overview of Results “We are pleased with our third quarter results, which continued to demonstrate the benefits and strength of our end market and geographic diversification,” said Jeff Gendell, Chairman and Chief Executive Officer. “We reported strong year-over-year growth in revenue and profitability for the quarter, despite industry-wide supply chain constraints and significant raw materials price increases as the U.S. and global economies continue to recover. Notably, higher earnings contribution from our Infrastructure Solutions segment, increased Communications revenue as a result of strong demand, ongoing operating improvements within our Commercial & Industrial segment, and continued strong performance from our Residential business during the quarter all contributed to our improved results compared with the prior year.” Mr. Gendell continued, “Consolidated revenue for the ...

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