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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.
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
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