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Dec 31, 2024
IES Holdings Q1 2025 Earnings Report
Reported strong first quarter results driven by increased demand and strong project execution.
Key Takeaways
IES Holdings reported an 18% increase in revenue and a 29% increase in operating income for the first quarter of fiscal 2025 compared to the same quarter of the prior year. Strong demand in the data center market benefited the Communications, Infrastructure Solutions, and Commercial & Industrial segments. The company also completed the acquisition of Arrow Engine Company subsequent to the end of the quarter.
Revenue increased by 18% to $750 million compared to the same quarter last year.
Operating income increased by 29% to $74.6 million compared to the same quarter last year.
Net income attributable to IES increased by 37% to $56.3 million compared to the same quarter last year, with diluted earnings per share of $2.72.
Adjusted net income attributable to IES increased by 33% to $54.6 million compared to the same quarter last year, with diluted adjusted earnings per share of $2.64.
Revenue by Segment
Forward Guidance
Demand in the Florida market has begun to show signs of recovering in the second fiscal quarter, and we anticipate continued improvement through the remainder of fiscal 2025.
Positive Outlook
- Normalization of activity in the key Florida market.
- Strong operating margins across all businesses.
- Robust customer demand.
- Operating leverage from increased scale.
- Strong project execution.
Challenges Ahead
- Weather-related impacts on demand in Florida.
- Concerns over housing affordability.
- Consumer expectations about future interest rate reductions.
- Some pockets of reduced demand in certain single-family markets.
- Hurricanes in Florida negatively impacted housing starts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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