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Jun 30, 2020
IES Holdings Q3 2020 Earnings Report
IES Holdings reported third quarter results with increased revenue and operating income.
Key Takeaways
IES Holdings reported a 4% increase in revenue to $293 million and a 37% increase in operating income to $14.1 million for the third quarter of fiscal year 2020. Net income attributable to IES was $12.3 million, or $0.58 per diluted share, and adjusted net income was $12.8 million, or $0.61 per diluted share.
Revenue increased by 4% year-over-year, reaching $293 million.
Operating income increased by 37% year-over-year, totaling $14.1 million.
Net income attributable to IES was $12.3 million, or $0.58 per diluted share.
Adjusted net income attributable to IES increased 38% to $12.8 million, or $0.61 per diluted share.
Revenue by Segment
Forward Guidance
The company expects to continue to experience some COVID-related project delays and a competitive market, but they are optimistic about the long-term outlook for the Commercial & Industrial segment.
Positive Outlook
- Strong liquidity position.
- Disciplined capital allocation philosophy.
- Well-positioned to execute on long-term growth strategy.
- Company is positioned to manage through times of economic uncertainty.
- Residential segment’s revenue grew 34% compared to the same quarter last year as demand for our single-family and multi-family lines of business continues to be strong.
Challenges Ahead
- Expect to continue to experience some COVID-related project delays.
- Competitive market.
- Commercial & Industrial was negatively impacted by disruptions caused by COVID-19.
- Ongoing project execution difficulties on certain projects in Commercial & Industrial segment.
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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