Ies Holdings, Inc. · NASDAQ:IESC
Ies — FY2020 Earnings Presentation
15 slides from Ies's earnings presentation, Dec 7, 2020
Slide 1: IES Holdings, Inc. Fiscal Year 2020 Update
IES Holdings, Inc. Fiscal Year 2020 Update December 7, 2020 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: Fiscal Year 2020 Highlights
3 Fiscal Year 2020 Highlights ♦ Revenue of $1.2 billion, an increase of 11% year-over-year (“y-o-y”) ♦ Operating Income of $50 million, an increase of 20% y-o-y; operating income included a $7.0 million goodwill impairment charge and $1.8 million of executive severance ♦ Net Income Per Share of $1.9
Slide 4: FY20 Revenue and Operating Income
4 FY20 Revenue and Operating Income Financial measures presented herein are in millions, except for earnings per share or as otherwise noted REVENUE OPERATING INCOME $1,077 $1,191 FY19 FY20 Fiscal Year $41.9 $50.1 FY19 FY20 Fiscal Year +11% +20%
Slide 5: FY20 Net Income Per Share and Adjusted Net Income Per Share
5 FY20 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* $1.55 $1.94 FY19 FY20 Fiscal Year $1.79 $2.57 FY19 FY20 Fiscal Year +25% +44%
Slide 6: Fiscal Year 2020 Segment Results
6 Fiscal Year 2020 Segment Results ♦ Revenue: $395.1 million (23% increase from FY’19) ♦ Operating Income: $40.4 million (+63%) Communications ♦ Revenue: $411.8 million (+31%) ♦ Operating Income: $30.1 million (+68%) Residential ♦ Revenue: $128.4 million (-6%) ♦ Operating Income: $14.6 million (+17%
Slide 7: Strong Backlog
7 Strong Backlog* Ba ck lo g ($ in m ill io ns ) $537 $509 $587 $597 $602 9/30/19 12/31/19 3/31/20 6/30/20 9/30/20 Remaining Performance Obligations: $505$452 $430 $469 * Non-GAAP financial measure; see reconciliation table $523
Slide 8: Appendix
APPENDIX
Slide 9: Income Statement
9 Income Statement (in mill ions, except earnings per share) Fiscal Year Ending September 30, 2017 2018 2019 2020 Revenue $810.7 $876.8 $1,077.0 $1,190.9 Operating income(1) 20.3 26.0 41.9 50.1 Interest expense & other 1.5 1.6 1.8 0.8 Income from operations before income taxes $18.8 $24.3 $40.1 $49.
Slide 10: Select Balance Sheet Data
10 (in mill ions) Fiscal Year Ending September 30, 2017 2018 2019 2020 Cash $28.3 $26.2 $18.9 $53.6 Current Assets 203.5 236.4 277.5 317.9 Deferred Tax Assets 86.2 46.6 40.9 33.8 Non-Current Assets 106.5 112.7 107.9 155.3 Total Assets $424.5 $422.0 $445.3 $560.5 Current Liabil ities $150.6 $164.4 $1
Slide 11: Segment Results
11 Segment Results (in mill ions) Fiscal Year Ending September 30, 2017 2018 2019 2020 Revenue Communications $225.3 $219.7 $321.2 $395.1 Residential 274.0 285.7 313.3 411.8 Infrastructure Solutions 83.8 97.2 136.8 128.4 Commercial & Industrial 227.6 274.3 305.6 255.5 Total Revenue $810.7 $876.8 $1,
Slide 12: Non-GAAP Reconciliation of Adjusted Net Income
12 Non-GAAP Reconciliation of Adjusted Net Income Attributable to IES Holdings, Inc. (in mill ions, except earnings per share) Fiscal Year Ending September 30, 2017 2018 2019 2020 Net income (loss) attributable to IES Holdings, Inc. $13.4 ($14.2) $33.2 $41.6 Provision for income taxes 5.2 38.2 6.7 8
Slide 13: Non-GAAP Reconciliation of Adjusted EBITDA
13 Non-GAAP Reconciliation of Adjusted EBITDA (in mill ions) Fiscal Year Ending September 30, 2017 2018 2019 2020 Net income (loss) attributable to IES Holdings, Inc. $13.4 ($14.2) $33.2 $41.6 Provision for income taxes 5.2 38.2 6.7 8.7 Interest & other expense, net 1.5 1.6 1.8 0.8 Depreciation and
Slide 14: Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog
14 Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog (in mill ions) September 30, 2020 June 30, 2020 September 30, 2019 Remaining performance obligations $505 $523 $452 Agreements without an enforceable obligation (1) 97 74 85 Backlog $602 $597 $537 (1) Our backlog contains sig
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 ♦ Rights Plan implemented in 2016 to deter new 5% share