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Sep 30, 2020
IES Holdings Q4 2020 Earnings Report
Announced fiscal 2020 fourth quarter and full year results.
Key Takeaways
IES Holdings reported strong fiscal 2020 fourth quarter results with a 13% increase in revenue compared to the same quarter of fiscal 2019, and a 4% increase in operating income. Net income attributable to IES increased, including goodwill impairment and executive severance charges, as well as a tax benefit. Adjusted net income attributable to IES increased 78%.
Revenue of $330 million for the fourth quarter of fiscal 2020, an increase of 13% compared with $294 million for the fourth quarter of fiscal 2019
Operating income of $14.4 million for the fourth quarter of fiscal 2020, an increase of 4% compared with $13.9 million for the same quarter of fiscal 2019.
Net income attributable to IES of $14.6 million, or $0.68 per diluted share, for the fourth quarter of fiscal 2020, compared with $9.9 million, or $0.46 per diluted share, for the same quarter of fiscal 2019.
Adjusted net income attributable to IES increased 78% to $22.2 million, or $1.05 per diluted share, for the fourth quarter of fiscal 2020, compared with $12.5 million, or $0.58 per diluted share, for the fourth quarter of fiscal 2019
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 well-positioned for growth in fiscal 2021 with ample liquidity and a fiscal year-end backlog increase.
Positive Outlook
- Successfully completed the acquisitions of K.E.P. Electric, Inc. and Wedlake Fabricating, Inc., using cash on hand while still maintaining ample liquidity.
- Liquidity positions the company well for growth.
- Fiscal year-end backlog of $602 million.
- Backlog increased of $65 million from a year ago.
- Focus on safety and customers
Challenges Ahead
- Ongoing COVID-19 pandemic and other market factors.
- Delays in awarding new projects.
- Decreased demand for new construction in sectors such as retail, office and hospitality.
- Increasingly competitive and uncertain environment.
- Recorded a non-cash goodwill impairment charge of $7.0 million in the fourth quarter of fiscal 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income