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Sep 30, 2024
IES Holdings Q4 2024 Earnings Report
Announced financial results with revenue increasing by 20% and operating income increasing by 41% compared to the same quarter of fiscal 2023.
Key Takeaways
IES Holdings reported a strong fourth quarter and fiscal year 2024, with revenue increasing by 20% and operating income increasing by 41% for the quarter. The company's success was driven by strong demand across key end markets and expansion in Residential plumbing and HVAC services.
Revenue for Q4 2024 reached $776 million, a 20% increase compared to $649 million in Q4 2023.
Operating income for Q4 2024 was $75.0 million, a 41% increase compared to $53.2 million in Q4 2023.
Net income attributable to IES for Q4 2024 was $63.1 million, a 67% increase compared to $37.8 million in Q4 2023, with diluted earnings per share of $3.06 compared to $1.66 in Q4 2023.
Adjusted net income attributable to IES for Q4 2024 was $57.6 million, a 46% increase compared to $39.5 million in Q4 2023, with diluted adjusted earnings per share of $2.79 compared to $1.74 in Q4 2023.
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
Looking forward to fiscal 2025, the company expects continued strong demand in its Communications, Infrastructure Solutions and Commercial & Industrial segments, particularly in data center end markets. The Residential segment remains cautious about near-term single-family housing demand due to affordability challenges.
Positive Outlook
- Communications segment expected to benefit from continued strong demand, particularly in data center end markets.
- Infrastructure Solutions segment expected to benefit from continued strong demand, particularly in data center end markets.
- Commercial & Industrial segment expected to benefit from continued strong demand, particularly in data center end markets.
- Opportunities to provide all operating segments with additional capital to drive further organic growth.
- Expect to continue to grow Residential business through further expansion of plumbing and HVAC services.
Challenges Ahead
- Cautious about near-term single-family housing demand due to housing affordability challenges.
- Potential that some buyers may delay home purchases in anticipation of lower mortgage rates.
- Expect to see a reduction in Commercial & Industrial segment revenue for the first quarter of fiscal 2025.
- Increased expenditures on information technology solutions, including ongoing implementation of new ERP system.
- Additional investments in human capital management required for recruiting and retention of a skilled workforce.
Revenue & Expenses
Visualization of income flow from segment revenue to net income