Ies Holdings, Inc. · NASDAQ:IESC
Ies — Q2 2021 Earnings Presentation
15 slides from Ies's earnings presentation, Apr 30, 2021
Slide 1: IES Holdings, Inc. Second Quarter 2021 Update
IES Holdings, Inc. Second Quarter 2021 Update April 30, 2021 Exhibit 99.2
Slide 2: Disclosures: Forward-Looking Statements
2 Disclosures Forward-Looking Statements Certain statements in this release may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions
Slide 3: Second Quarter 2021 Highlights
3 Second Quarter 2021 Highlights ♦ Revenue of $332 million, an increase of 14% year-over-year (“y-o-y”) ♦ Operating Income of $17.1 million, an increase of 86% y-o-y ♦ Net Income per Share of $0.58 (+100%) and Adjusted Net Income per Share* of $0.71 (+87%) ♦ Remaining Performance Obligations, a GAAP
Slide 4: Q2 FY'21 Revenue and Operating Income
4 $9.2 $17.1 3/31/20 3/31/21 Three Months Ended $291 $332 3/31/20 3/31/21 Three Months Ended 2Q FY’21 Revenue and Operating Income Financial measures presented herein are in millions, except for earnings per share or as otherwise noted REVENUE OPERATING INCOME +14% +86%
Slide 5: 2Q FY'21 Net Income Per Share and Adjusted Net Income Per Share
5 $0.38 $0.71 3/31/20 3/31/21 Three Months Ended $0.29 $0.58 3/31/20 3/31/21 Three Months Ended 2Q FY’21 Net Income Per Share and Adjusted Net Income Per Share* * Non-GAAP financial measure; see reconciliation table NET INCOME PER SHARE ADJUSTED NET INCOME PER SHARE* +100% +87%
Slide 6: 2Q FY'21 Segment Results
6 2Q FY’21 Segment Results ♦ Revenue: $94.9 million (-1% from 2Q FY’20) ♦ Operating Income: $9.9 million (+38%) Communications ♦ Revenue: $150.3 million (+50%) ♦ Operating Income: $8.5 million (+18%) Residential ♦ Revenue: $34.7 million (+18%) ♦ Operating Income: $3.3 million (+43%) Infrastructure S
Slide 7: Strong Backlog
7 Strong Backlog* Ba ck lo g ($ in m ill io ns ) $587 $597 $602 $632 $707 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 Remaining Performance Obligations: $525 $614$469 $523 * Non-GAAP financial measure; see reconciliation table $505
Slide 8: Appendix
APPENDIX
Slide 9: Income Statement
9 Income Statement Three Months Ended Six Months Ended (in mill ions, except earnings per share) March 31, March 31, 2020 2021 2020 2021 Revenue $291.3 $332.0 $567.3 $646.8 Operating income 9.2 17.1 21.6 33.0 Interest expense & other 0.6 0.2 1.0 0.2 Provision for income taxes 2.4 3.6 5.9 7.3 Net inc
Slide 10: Non-GAAP Reconciliation of Adjusted Net Income Attributable to IES Holdings, Inc.
10 Non-GAAP Reconciliation of Adjusted Net Income Attributable to IES Holdings, Inc. Three Months Ended Six Months Ended (in mill ions, except earnings per share) March 31, March 31, 2020 2021 2020 2021 Net income attributable to IES Holdings, Inc. $6.2 $12.8 $14.7 $24.9 Provision for income taxes 2
Slide 11: Select Balance Sheet Data
11 (in mill ions) 3/31/20 9/30/20 3/31/21 Cash $43.8 $53.6 $42.3 Other Current Assets 280.0 317.9 323.5 Deferred Tax Assets 33.9 33.8 25.5 Non-Current Assets 168.6 155.3 224.4 Total Assets $526.3 $560.5 $615.7 Current Liabil ities $210.8 $242.4 $251.6 Other Liabil ities 25.9 32.7 41.8 Debt 29.0 0.2
Slide 12: Segment Results
12 Segment Results Three Months Ended Six Months Ended (in mill ions) March 31, March 31, 2020 2021 2020 2021 Revenue Communications $96.0 $94.9 $180.3 $193.2 Residential 100.0 150.3 192.8 269.8 Infrastructure Solutions 29.3 34.7 60.6 69.1 Commercial & Industrial 66.0 52.0 133.7 114.6 Total Revenue
Slide 13: Non-GAAP Reconciliation of Adjusted EBITDA
13 Non-GAAP Reconciliation of Adjusted EBITDA Three Months Ended Six Months Ended (in mill ions) March 31, March 31, 2020 2021 2020 2021 Net income attributable to IES Holdings, Inc. $6.2 $12.8 $14.7 $24.9 Provision for income taxes 2.4 3.6 5.9 7.3 Interest & other expense, net 0.6 0.2 1.0 0.2 Depre
Slide 14: Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog
14 Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog (in mill ions) March 31, 2020 December 31, 2020 March 31, 2021 Remaining performance obligations $469 $525 $614 Agreements without an enforceable obligation (1) 118 107 93 Backlog $587 $632 $707 (1) Our backlog contains signe
Slide 15: NOL Summary
15 NOL Summary ♦ Estimated net operating loss carry forwards (“NOLs”) of approximately $217 million as of September 30, 2020, including approximately $128 million resulting from net operating losses on which a deferred tax asset is not recorded Note: Assumes no change, limitation or usage of existin