Business
IES Holdings Reports Fiscal 2024 Fourth Quarter and Full Year Results
HOUSTON, Nov. 22, 2024 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter and
About this update from Ies Holdings, Inc.
[{"type":"text","content":"HOUSTON, Nov. 22, 2024 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter and fiscal year ended September 30, 2024. Fourth Quarter 2024 Highlights Revenue of $776 million for the fourth quarter of fiscal 2024, an increase of 20% compared with $649 million for the same quarter of fiscal 2023Operating income of $75.0 million for the fourth quarter of fiscal 2024, an increase of 41% compared with $53.2 million for the same quarter of fiscal 2023Net income attributable to IES of $63.1 million for the fourth quarter of fiscal 2024, an increase of 67% compared with $37.8 million for the same quarter of fiscal 2023, and diluted earnings per share attributable to common stockholders of $3.06 for the fourth quarter of fiscal 2024, compared with $1.66 for the same quarter of fiscal 2023Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) of $57.6 million for the fourth quarter of fiscal 2024, an increase of 46% compared with $39.5 million for the same quarter of fiscal 2023, and diluted adjusted earnings per share attributable to common stockholders of $2.79 for the fourth quarter of fiscal 2024, compared with $1.74 for the same quarter of fiscal 2023Remaining performance obligations, a GAAP measure of future revenue to be recognized from current contracts with customers, of approximately $1.2 billion as of September 30, 2024Backlog (a non-GAAP financial measure, as defined below) of approximately $1.8 billion as of September 30, 2024 Fiscal Year 2024 Highlights Revenue of $2.9 billion for fiscal 2024, an increase of 21% compared with $2.4 billion for fiscal 2023Operating income of $300.9 million for fiscal 2024, an increase of 88% compared with $159.8 million for fiscal 2023Net income attributable to IES of $219.1 million for fiscal 2024, an increase of 102% compared with $108.3 million for fiscal 2023, and diluted earnings per share attributable to common stockholders of $9.89 for fiscal 2024, compared with $4.54 for fiscal 2023Adjusted net income attributable to IES of $213.6 million for fiscal 2024, an increase of 91% compared with $111.9 million for fiscal 2023, and diluted adjusted earnings per share attributable to common stockholders of $9.62 for fiscal 2024 compared with $4.71 for fiscal 2023 Overview of Results “I...