Ies Holdings, Inc. · NASDAQ:IESC
Ies — Q2 2018 Earnings Presentation
13 slides from Ies's earnings presentation, May 4, 2018
Slide 1: IES Holdings, Inc. Second Quarter 2018 Update
IES Holdings, Inc. Second Quarter 2018 Update IES
Slide 2: Disclosures: Forward-Looking Statements
Disclosures Forward-Looking Statements Certain statements in this document 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: IES Holdings Financial Overview: Revenue, Operating Income, Net Income, Backlog
IES Holdings, Inc. (NASDAQ: IESC) Financial measures presented here are in millions, except for earnings per share or as otherwise noted REVENUE OPERATING INCOME $696 $811 $25.0 $20.3 $396 $404 $8.6 $7.1 2016 2017 3/31/17 3/31/18 2016 2017 3/31/17 3/31/18 Fiscal Year Six Months Ended Fiscal Year Six
Slide 4: Second Quarter 2018 Highlights
Second Quarter 2018 Highlights Revenue – $205.7 million, an increase of 1.0% compared with the 2nd quarter of FY17 (“2Q17”) Income from Operations – $4.1 million, an increase of $2.5 million compared with 2Q17 Earnings – Net income attributable to IES of $2.2 million, or $0.11 per diluted share, com
Slide 5: Second Quarter 2018 Segment Results
Second Quarter 2018 Segment Results Commercial & Industrial Revenue: $65.6 million, increase of 18.7% over 2Q17 Operating Loss: ($0.3) million Operating Margin: (0.5%) Revenue: $50.2 million, decrease of 18.5% from 2Q17 Communications Operating Profit: $3.2 million Operating Margin: 6.3% Infrastruct
Slide 6: Quarterly Financials
Quarterly Financials $208 $207 $206 $206 $204 $198 $192 Revenue $180 6/30/16 9/30/16 12/31/16 3/31/17 6/30/17 9/30/17 12/31/17 3/31/18 $9.2 $8.2 $7.0 $7.0 $4.7 $4.1 $3.0 Operating Income $1.6 6/30/16 9/30/16 12/31/16 3/31/17 6/30/17 9/30/17 12/31/17 3/31/18
Slide 7: Backlog Of $343 Million As Of 3/31/18
Backlog Of $343 Million As Of 3/31/18 $335 $331 $337 $343 Backlog $314 y Quarterl 3/31/17 6/30/17 9/30/17 12/31/17 3/31/18
Slide 8: Income Statement
Income Statement (in millions, except earnings per share) Three Months Ended Six Months Ended March 31, March 31, 2017 2018 2017 2018 Revenue $203.7 $205.7 $395.8 $404.0 Income from operations (1) 1.6 4.1 8.6 7.1 Interest expense & other 0.4 0.4 0.8 0.8 Income from operations before income taxes $1.
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data (in millions) 3/31/17 9/30/17 3/31/18 Cash $20.8 $28.3 $35.7 Current Assets 194.5 203.5 190.9 Deferred Tax Assets 90.3 86.2 50.9 Non-Current Assets 102.3 106.5 107.4 Total Assets $408.0 $424.5 $385.0 Current Liabilities $140.3 $150.6 $139.4 Other Liabilities 7.4 4.5 4.6 Deb
Slide 10: Segment Results
Segment Results (in millions) Three Months Ended Six Months Ended March 31, March 31, 2017 2018 2017 2018 Revenue Commercial & Industrial $55.3 $65.6 $109.2 $118.6 Communications 61.7 50.2 115.0 104.7 Infrastructure Solutions 18.8 23.9 37.3 45.6 Residential 67.9 66.0 134.4 135.1 Total Revenue $203.7
Slide 11: Commercial & Industrial Wind-Down Branches Results
Commercial & Industrial Wind-Down Branches Results The following table presents the operating losses of the Commercial & Industrial Wind-Down Branches for the current and prior year quarter (in millions) Three Months Ended Six Months Ended March 31, March 31, 2017 2018 2017 2018 Revenues $9.4 $3.9 $
Slide 12: Non-GAAP Reconciliation Of Adjusted Net Income Attributable To IES Holdings, Inc.
`Non-GAAP Reconciliation Of Adjusted Net Income Attributable To IES Holdings, Inc. (in millions, except earnings per share) Three Months Ended Six Months Ended March 31, March 31, 2017 2018 2017 2018 Net income (loss) attributable to IES Holdings, Inc. $0.5 $2.2 $4.4 ($27.3) Provision for income tax
Slide 13: NOL Summary
NOL Summary Estimated net operating loss carry forwards (“NOLs”) of approximately $378 million as of September 30, 2017, including $142 million associated with amortization of personal goodwill Rights Agreement implemented to deter new 5% shareholders in order to prevent certain limitations on NOLs