IES Holdings(IESC) - 2025 Q2 - Quarterly Results

Financial Performance - Revenue for Q2 2025 was $834 million, an 18% increase from $706 million in Q2 2024[6] - Operating income for Q2 2025 was $92.7 million, a 19% increase from $77.7 million in Q2 2024[6] - Net income attributable to IES for Q2 2025 was $70.7 million, a 34% increase from $52.9 million in Q2 2024, with diluted earnings per share of $3.50 compared to $2.29[6] - Revenues for the three months ended March 31, 2025, were $834.0 million, a 18.1% increase from $705.8 million in the same period of 2024[26] - Gross profit for the six months ended March 31, 2025, was $386.9 million, up 22.6% from $315.4 million in the prior year[26] - Net income attributable to IES Holdings, Inc. for the three months ended March 31, 2025, was $70.7 million, representing a 33.8% increase compared to $52.9 million in the same period of 2024[26] - Adjusted net income attributable to common stockholders for the six months ended March 31, 2025, was $120.1 million, a 38.8% increase from $86.5 million in the same period of 2024[27] - Basic earnings per share attributable to common stockholders for the three months ended March 31, 2025, was $3.54, compared to $2.32 for the same period in 2024, reflecting a 52.9% increase[26] - Net income for the six months ended March 31, 2025, increased to $130.3 million, up from $100.4 million in the same period of 2024, representing a growth of 29.5%[31] - Total revenue for the six months ended March 31, 2025, reached $1,583.5 million, compared to $1,340.2 million in the prior year, reflecting a year-over-year increase of 18.1%[33] - Adjusted EBITDA for the six months ended March 31, 2025, was $192.1 million, up from $147.5 million in the same period of 2024, marking a growth of 30.2%[35] Backlog and Future Revenue - Remaining performance obligations as of March 31, 2025, were approximately $1.2 billion, indicating future revenue to be recognized[6][16] - Backlog as of March 31, 2025, was approximately $1.8 billion, reflecting strong demand[6][16] - Remaining performance obligations as of March 31, 2025, totaled $1,226 million, compared to $1,176 million in September 2024, indicating an increase of 4.3%[37] - Backlog as of March 31, 2025, was $1,813 million, up from $1,786 million in September 2024, showing a growth of 1.5%[37] Segment Performance - Communications segment revenue was $273.1 million in Q2 2025, a 41% increase from Q2 2024, driven by demand in the data center market[7] - Infrastructure Solutions segment revenue was $117.6 million in Q2 2025, a 55% increase from Q2 2024, with contributions from recent acquisitions[9] - Commercial & Industrial segment revenue was $125.4 million in Q2 2025, a 29% increase from Q2 2024, reflecting solid demand[11] - The Communications segment generated revenues of $506.0 million for the six months ended March 31, 2025, up from $364.3 million in the same period of 2024, representing a growth of 38.8%[33] Cash Flow and Investments - Cash flows from operating activities for the six months ended March 31, 2025, amounted to $62.1 million, compared to $58.7 million in the prior year, reflecting a growth of 5.8%[31] - Net cash used in investing activities for the six months ended March 31, 2025, was $97.1 million, significantly higher than $11.4 million in the same period of 2024[31] - The company reported a net increase in cash and cash equivalents of $(78.4) million for the six months ended March 31, 2025, compared to an increase of $30.2 million in the prior year[31] Shareholder Information - The company repurchased 118,314 shares of common stock for $20.4 million, with $173.3 million remaining under the stock repurchase authorization[14] - The company has a controlling shareholder, which may influence decisions that are not aligned with other shareholders[21] Assets and Equity - Total assets as of March 31, 2025, were $1,364.6 million, an increase from $1,244.0 million as of September 30, 2024[29] - Total stockholders' equity increased to $705.8 million as of March 31, 2025, compared to $611.1 million as of September 30, 2024[29] - Cash and cash equivalents decreased to $22.4 million as of March 31, 2025, from $100.8 million as of September 30, 2024[29] Profitability Metrics - The company reported a gross profit margin of 25.1% for the three months ended March 31, 2025, compared to 24.3% for the same period in 2024[26] - Operating income for the six months ended March 31, 2025, was $167.3 million, compared to $135.7 million in the same period of 2024, an increase of 23.3%[33]