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Mar 31, 2021
IES Holdings Q2 2021 Earnings Report
Reported an increase in revenue and operating income, driven by acquisitions and growth in Residential and Infrastructure Solutions segments.
Key Takeaways
IES Holdings reported a strong second quarter with a 14% increase in revenue to $332 million and an 86% increase in operating income to $17.1 million compared to the same quarter last year. Net income attributable to IES increased by 106% to $12.8 million, with diluted earnings per share at $0.58. The company's performance was driven by strategic acquisitions and growth in the Residential and Infrastructure Solutions segments, despite challenges from higher input prices and weather impacts.
Revenue increased by 14% to $332 million compared to the same quarter last year.
Operating income increased by 86% to $17.1 million compared to the same quarter last year.
Net income attributable to IES increased by 106% to $12.8 million compared to the same quarter last year.
Adjusted diluted earnings per share increased to $0.71 compared to $0.38 for the same quarter last year.
IES Holdings
IES Holdings
IES Holdings Revenue by Segment
Revenue by Segment
Communications Revenue
CapyFin.comResidential Revenue
CapyFin.comInfrastructure Solutions Revenue
CapyFin.com Forward Guidance
The company is focused on capturing the benefits of tailwinds across its end markets and is well-positioned to meet anticipated increased working capital requirements due to an increase in project volumes and higher commodity prices. They will continue to address challenges through price increases and other actions, supported by a strong balance sheet.
Positive Outlook
- Strong financial position with $37 million cash balance net of outstanding debt.
- Strategic acquisitions and investments in organic growth.
- Focus on capturing benefits of tailwinds across end markets.
- Well-positioned to meet increased working capital requirements.
- Addressing challenges through price increases to customers.
Challenges Ahead
- Higher input costs are a challenge.
- Rapidly evolving environment poses challenges.
- Increased working capital requirements due to higher commodity prices.
- Potential impact of COVID-19 on project timelines.
- Supply and delivery constraints.
Revenue & Expenses
Visualization of income flow from segment revenue to net income