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Mar 31, 2020
IES Holdings Q2 2020 Earnings Report
Reported second quarter fiscal 2020 results, with revenue increasing 13% year-over-year.
Key Takeaways
IES Holdings reported a revenue of $291 million, a 13.4% increase compared to the same quarter last year. Operating income was $9.2 million, a 12.3% increase. Net income attributable to IES was $6.2 million, or $0.29 per diluted share, while adjusted net income was $8.0 million, or $0.38 per diluted share.
Revenue for the second quarter of fiscal 2020 was $291 million, a 13.4% increase year-over-year.
Operating income for the second quarter of fiscal 2020 was $9.2 million, a 12.3% increase year-over-year.
Net income attributable to IES for the second quarter of fiscal 2020 was $6.2 million, or $0.29 per diluted share.
Adjusted net income attributable to IES decreased 2.4% to $8.0 million, or $0.38 per diluted share.
IES Holdings
IES Holdings
IES Holdings Revenue by Segment
Revenue by Segment
Communications Revenue
CapyFin.comResidential Revenue
CapyFin.comInfrastructure Solutions Revenue
CapyFin.comCommercial & Industrial Revenue
CapyFin.com Forward Guidance
The full impact of the pandemic on our business is unclear at this time, and we may see additional project delays and cancellations, we believe that our backlog of $587 million at quarter-end provides visibility for the remainder of fiscal 2020 and into fiscal 2021.
Positive Outlook
- Strong second quarter cash flow demonstrates focus on working capital management and prudent capital spending.
- IES entered the COVID-19 crisis in a position of financial strength.
- Repaid $15 million of long-term debt in April 2020 after ending the second quarter with a $29 million balance.
- Backlog of $587 million at quarter-end provides visibility for the remainder of fiscal 2020 and into fiscal 2021.
- Strong liquidity position and disciplined capital allocation philosophy will continue to support long-term growth strategy.
Challenges Ahead
- The full impact of the pandemic on our business is unclear at this time.
- May see additional project delays.
- May see additional project cancellations.
- Infrastructure Solutions segment experienced a 15% revenue decrease.
- Infrastructure Solutions segment experienced an 18% decrease in operating income.
Revenue & Expenses
Visualization of income flow from segment revenue to net income