Ies Holdings, Inc. · NASDAQ:IESC
Ies — Q3 2021 Earnings Presentation
15 slides from Ies's earnings presentation, Aug 5, 2021
Slide 1: Third Quarter 2021 Update
Exhibit 99.2 I ES H O L D I N G S , I N C . ( N A S DAQ : I ES C ) | T h i rd Q u a r te r 2 0 2 1 U p d ate | J U N E 3 0 , 2 0 2 1
Slide 2: Forward-Looking Statements
2 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 that the Co
Slide 3: Third Quarter 2021 Highlights
3 • Revenue of $406 million, an increase of 38% year-over-year (“y-o-y”) • Operating Income of $22.5 million, an increase of 60% y-o-y • Earnings per Share of $0.92 (+59%) and Adjusted Earnings per Share* of $0.99 (+65%) • Remaining Performance Obligations of $669 million, a GAAP measure of future r
Slide 4: Revenue and Operating Income: 3Q & YTD FY'21
4 Revenue and Operating Income: 3Q & YTD FY’21 +38% +60% +22% +55% REVENUE: THREE MONTHS ENDING ($ in millions) REVENUE: YEAR-TO-DATE ($ in millions) OPERATING INCOME: THREE MONTHS ENDING ($ in millions) OPERATING INCOME: YEAR-TO-DATE ($ in millions) $293 $406 3Q '20 3Q '21 $860 $1,053 YTD FY'20 YTD
Slide 5: Earnings per Share and Adjusted Earnings per Share: 3Q & YTD FY'21
5 Earnings per Share and Adjusted Earnings per Share*: 3Q & YTD FY’21 +59% +65% +65% +61% EARNINGS PER SHARE: THREE MONTHS ENDING ($ / share) EARNINGS PER SHARE: YEAR-TO-DATE ($ / share) ADJ. EARNINGS PER SHARE*: THREE MONTHS ENDING ($ / share) ADJ. EARNINGS PER SHARE*: YEAR-TO-DATE ($ / share) * No
Slide 6: Segment Results: 3Q & YTD FY'21
6 Segment Results: 3Q & YTD FY’21 • Revenue: $116.2 million (+20% from 3Q FY’20) • Operating Income: $9.9 million (+5%) Communications • Revenue: $186.4 million (+73%) • Operating Income: $11.0 million (+23%) Residential • Revenue: $39.1 million (+22%) • Operating Income: $4.8 million (+25%) Infrast
Slide 7: Quarterly Backlog Trend
7 Quarterly Backlog* Trend $597 $602 $632 $707 $825 6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 Remaining Performance Obligations $614 $669$523 $505 $525 * Non-GAAP financial measure; see reconciliation table BACKLOG* ($ in millions)
Slide 8: Appendix
Appendix
Slide 9: Income Statement
9 Income Statement Three Months Ended Nine Months Ended (in mill ions, except earnings per share) June 30, June 30, 2020 2021 2020 2021 Revenue $293.1 $405.9 $860.4 $1,052.7 Operating income 14.1 22.5 $35.7 $55.5 Interest expense & other 0.1 0.2 $1.0 $0.4 Provision for income taxes 1.7 2.6 $7.6 $9.9
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. (in mill ions, except earnings per share) Three Months Ended Nine Months Ended 2020 2021 2020 2021 Net income attributable to IES Holdings, Inc. $12.3 $19.3 $27.0 $44.2 Provision for income taxes 1.7 2.6 7.6 9.9 Adj
Slide 11: Select Balance Sheet Data
11 Select Balance Sheet Data (in mill ions) 6/30/20 9/30/20 6/30/21 Cash $35.8 $53.6 $18.5 Other Current Assets 290.5 317.9 406.7 Deferred Tax Assets 33.4 33.8 24.0 Non-Current Assets 165.6 155.3 266.7 Total Assets $525.3 $560.5 $715.9 Current Liabil ities $222.8 $242.4 $289.5 Other Liabil ities 28.
Slide 12: Segment Results
12 Segment Results Three Months Ended Nine Months Ended (in mill ions) June 30, June 30, 2020 2021 2020 2021 Revenue Communications $96.5 $116.2 $276.8 $309.5 Residential 107.9 186.4 300.7 456.3 Infrastructure Solutions 31.9 39.1 92.5 108.2 Commercial & Industrial 56.8 64.1 190.5 178.7 Total Revenue
Slide 13: Non-GAAP Reconciliation of Adjusted EBITDA
13 Non-GAAP Reconciliation of Adjusted EBITDA Three Months Ended Nine Months Ended (in mill ions) June 30, June 30, 2020 2021 2020 2021 Net income attributable to IES Holdings, Inc. $12.3 $19.3 $27.0 $44.2 Provision for income taxes 1.7 2.6 7.6 9.9 Interest & other expense, net - 0.2 1.0 0.4 Depreci
Slide 14: Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog
14 Non-GAAP Reconciliation of Remaining Performance Obligations to Backlog (in mill ions) June 30, 2020 March 31, 2021 June 30 2021 Remaining performance obligations $523 $614 $669 Agreements without an enforceable obligation (1) 74 93 156 Backlog $597 $707 $825 (1) Our backlog contains signed agree
Slide 15: $217 Million of NOLs as of September 30, 2020
15 $217 Million of NOLs as of September 30, 2020 $439 $404 $378 $355 $306 $217 2015 2016 2017 2018 2019 2020 * Assumes tax rate of 21% and utilization of entire NOL balance at 9/30/2020 including approximately $27 million associated with NOLs on which a deferred tax asset is not recorded Estimated n