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Jun 30, 2023
IES Holdings Q3 2023 Earnings Report
IES Holdings reported third quarter results with increased revenue and operating income.
Key Takeaways
IES Holdings reported a 3% increase in revenue to $584 million and a significant increase in operating income to $34.3 million compared to the same quarter last year. Net income attributable to IES was $22.5 million, or $0.81 per diluted share, compared to $9.5 million, or $0.33 per diluted share, in the prior year.
Revenue increased by 3% to $584 million compared to Q3 2022.
Operating income increased substantially to $34.3 million, compared to $15.6 million in Q3 2022.
Net income attributable to IES increased to $22.5 million, compared to $9.5 million in Q3 2022.
Diluted earnings per share attributable to common stockholders increased to $0.81, compared to $0.33 in Q3 2022.
Revenue by Segment
Forward Guidance
IES Holdings anticipates modest revenue growth for the remainder of fiscal 2023 and fiscal 2024, driven by organizational changes and improved processes.
Positive Outlook
- Improved processes and procedures across all business units.
- Growing backlog supports modest revenue growth.
- Organizational changes at Residential segment expected to benefit operating results.
- Focus on improving procurement process to enhance margins.
- Significant cash flow generation expected in the fourth quarter of fiscal 2023 and in fiscal 2024.
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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