IES Holdings Inc. Reports Strong Fiscal 2025 Second Quarter Results

HOUSTON, May 2, 2025 — IES Holdings, Inc. (NASDAQ: IESC), a leading provider of electrical contracting and maintenance services, today announced its financial results for the second quarter of fiscal 2025. The company reported significant growth across various segments, reflecting its robust operational performance and strategic initiatives.

Financial Highlights

  • Revenue Growth: IES Holdings reported a revenue of $834 million for the second quarter of fiscal 2025, marking an 18% increase compared to $706 million in the same quarter of fiscal 2024.
  • Operating Income: The company’s operating income rose by 19% to $92.7 million, up from $77.7 million in the previous year’s second quarter.
  • Net Income: Net income attributable to IES increased by 34% to $70.7 million, compared to $52.9 million in the same period last year.
  • Earnings Per Share: Diluted earnings per share attributable to common stockholders reached $3.50, up from $2.29 in the second quarter of fiscal 2024.
  • Adjusted Net Income: Adjusted net income, a non-GAAP financial measure, increased by 23% to $66.6 million, with diluted adjusted earnings per share at $3.30, compared to $2.36 in the prior year.

Segment Performance

  • Communications Segment: Revenue in this segment surged by 41%, driven by strong demand in data center projects.
  • Infrastructure Solutions Segment: This segment saw a 55% increase in revenue, highlighting its growing importance to the company’s portfolio.
  • Commercial & Industrial Segment: Revenue grew by 29%, reflecting solid performance across its diverse markets.
  • Residential Segment: In contrast, the residential segment experienced a 6% decline in revenue, with operating income decreasing from $34.7 million to $22.7 million. This decline was attributed to reduced pricing and market conditions, particularly in the multi-family business, which faced challenges due to elevated interest rates.

Financial Position and Outlook

  • Backlog: IES Holdings reported a strong backlog of $1.8 billion, indicating healthy future revenue potential.
  • Credit Facility: The company successfully increased its credit facility from $150 million to $300 million, with an extended maturity to 2030, enhancing its financial flexibility.

These results underscore IES Holdings’ ability to capitalize on growth opportunities while navigating challenges in certain market segments. The company’s strategic focus on expanding its communications and infrastructure solutions segments positions it well for continued success in the evolving industrial landscape.