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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
Revenue by Segment
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.
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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