IES Holdings(US:IESC)2025-02-04 12:55Financial Performance - Revenue for Q1 2025 was $750 million, an 18% increase from $634 million in Q1 2024[6] - Operating income for Q1 2025 was $74.6 million, a 29% increase from $58.0 million in Q1 2024[6] - Net income attributable to IES for Q1 2025 was $56.3 million, a 37% increase from $41.0 million in Q1 2024, with diluted earnings per share of $2.72 compared to $1.87 in Q1 2024[6] - Revenues for the three months ended December 31, 2024, increased to $749.5 million, up 18.2% from $634.4 million in the same period of 2023[23] - Gross profit rose to $178.0 million, representing a 23.7% increase compared to $143.8 million in the prior year[23] - Net income attributable to IES Holdings, Inc. was $56.3 million, a 37.2% increase from $41.0 million in the same quarter of 2023[23] - Basic earnings per share attributable to common stockholders increased to $2.76, up 46.0% from $1.89 in the same period last year[23] - Net income attributable to IES Holdings, Inc. for Q4 2024 was $56.3 million, up from $41.0 million in Q4 2023, representing a 37.8% increase[31] - Adjusted EBITDA for Q4 2024 reached $86.3 million, compared to $64.4 million in Q4 2023, reflecting a 34.1% growth[31] Segment Performance - Communications segment revenue was $232.9 million in Q1 2025, a 36% increase compared to Q1 2024, driven by data center market demand[7] - The Communications segment generated revenues of $232.9 million, a 36.4% increase from $170.7 million in the prior year[29] - Infrastructure Solutions segment revenue was $108.1 million in Q1 2025, a 72% increase from Q1 2024, with Greiner Industries contributing $12.2 million[9] - Infrastructure Solutions segment revenues surged to $108.1 million, up 72.0% from $62.9 million in the same quarter of 2023[29] Future Revenue Indicators - Remaining performance obligations as of December 31, 2024, were approximately $1.2 billion, indicating future revenue to be recognized[6] - Remaining performance obligations as of December 31, 2024, totaled $1,215 million, an increase from $1,073 million a year earlier, marking a 13.2% rise[33] - Backlog as of December 31, 2024, was approximately $1.8 billion, reflecting strong demand[6] - Backlog as of December 31, 2024, was $1,754 million, slightly down from $1,786 million in September 2024, but up from $1,452 million in December 2023, indicating a year-over-year increase of 20.9%[33] Cash and Assets - The company ended Q1 2025 with $59.1 million in cash and $53.0 million in marketable securities, enhancing financial flexibility[13] - Total current assets decreased to $843.9 million from $871.7 million as of September 30, 2024[26] - Total liabilities decreased to $572.7 million from $591.9 million as of September 30, 2024[26] - Net cash provided by operating activities was $37.3 million, compared to $25.0 million in the same period last year[28] - The company reported a net increase in cash and cash equivalents to $59.1 million, down from $100.8 million at the beginning of the period[28] Expenses and Other Financial Metrics - Depreciation and amortization expenses for Q4 2024 were $11.1 million, compared to $7.6 million in Q4 2023, showing a 46.3% increase[31] - The provision for income taxes in Q4 2024 was $20.0 million, up from $15.4 million in Q4 2023, which is a 29.9% increase[31] - Interest and other income, net, showed a loss of $3.1 million in Q4 2024, compared to a loss of $1.0 million in Q4 2023[31] - Non-cash equity compensation expense increased to $2.0 million in Q4 2024 from $1.4 million in Q4 2023, reflecting a 42.9% rise[31] Strategic Initiatives - The company completed the acquisition of Arrow Engine Company, expanding its product offerings and customer base[12] - IES Holdings, Inc. continues to focus on expanding its market presence and enhancing its product offerings to drive future growth[32]