IES Holdings(US:IESC)2026-01-30 12:51Financial Performance - Revenue for Q1 2026 was $871 million, a 16% increase from $750 million in Q1 2025[7] - Operating income for Q1 2026 reached $97.7 million, up 31% from $74.6 million in Q1 2025[7] - Net income attributable to IES was $91.4 million for Q1 2026, a 62% increase compared to $56.3 million in Q1 2025, with diluted earnings per share of $4.51 versus $2.72[7] - Adjusted net income attributable to IES was $75.2 million for Q1 2026, a 38% increase from $54.6 million in Q1 2025, with diluted adjusted earnings per share of $3.71 compared to $2.64[7] - Gross profit rose to $220.0 million, representing a 23.5% increase compared to $178.0 million in the prior year[27] - Net income attributable to IES Holdings, Inc. was $91.4 million, a 62.2% increase from $56.3 million in the same quarter of 2024[27] - Basic earnings per share attributable to common stockholders increased to $4.58, up 65.5% from $2.76 in the previous year[27] - Adjusted net income attributable to IES Holdings, Inc. was $75.2 million, compared to $54.6 million in the same quarter of 2024, reflecting a 37.5% increase[28] - Operating income for the same period was $97.7 million, up 30.9% from $74.6 million year-over-year[34] - Net income attributable to IES Holdings, Inc. increased to $91.4 million, a rise of 62.3% compared to $56.3 million in the prior year[35] - Adjusted EBITDA for the three months ended December 31, 2025, was $113.8 million, reflecting a 31.9% increase from $86.3 million in 2024[35] Revenue Segments - Communications segment revenue was $351.9 million in Q1 2026, a 51% increase from Q1 2025, driven by strong demand in the data center market[9] - Residential segment revenue decreased by 11% to $284.1 million in Q1 2026 due to ongoing challenges in the housing market[10] - Infrastructure Solutions segment revenue increased by 30% to $140.2 million in Q1 2026, reflecting strong demand for custom engineered solutions[11] - Communications segment revenue rose to $351.9 million, a significant increase of 50.1% from $232.9 million in the previous year[34] - Infrastructure Solutions segment operating income improved to $35.6 million, up 52.5% from $23.3 million year-over-year[34] - Residential segment revenue decreased to $284.1 million, down 11.2% from $320.0 million in the same period of 2024[34] Backlog and Performance Obligations - Remaining performance obligations were approximately $1.8 billion as of December 31, 2025[7] - Backlog stood at approximately $2.6 billion as of December 31, 2025[7] - Remaining performance obligations as of December 31, 2025, totaled $1,809 million, up from $1,215 million a year earlier, representing a 48.9% increase[37] - Backlog increased to $2,602 million as of December 31, 2025, compared to $1,754 million in the same period of 2024, marking a 48.5% growth[37] Cash Flow and Assets - Net cash provided by operating activities for the three months ended December 31, 2025, was $27.7 million, down from $37.3 million in the same period of 2024[33] - The company reported a net cash used in investing activities of $46.2 million, compared to $58.4 million in the prior year[33] - Cash and cash equivalents at the end of the period were $88.8 million, down from $127.2 million at the beginning of the period[33] - Total assets as of December 31, 2025, were $1,658.4 million, an increase from $1,595.7 million as of September 30, 2025[31] - Total stockholders' equity increased to $961.1 million from $884.0 million in the previous quarter, indicating a growth of 8.7%[31] Acquisition - The acquisition of Gulf Island Fabrication, Inc. was completed post-quarter end for an aggregate equity value of $192 million[7]