NASDAQ$IESC
IES Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a strong first quarter in fiscal year 2024, marked by revenue growth and significant operating income increase.
IES Holdings reported a strong first quarter in fiscal 2024, with a 10% increase in revenue to $634 million and a 43% increase in operating income to $58.0 million. Net income attributable to IES increased by 55% to $41.0 million, with diluted earnings per share at $1.87. The company remains optimistic for the balance of fiscal 2024, supported by strong demand in key markets and improved operating margins.
- Revenue increased by 10% to $634 million compared to the same quarter last year.
- Operating income rose by 43% to $58.0 million, reflecting improved operating margins.
- Net income attributable to IES increased by 55% to $41.0 million, with diluted earnings per share at $1.87.
- The company's backlog stood at approximately $1.5 billion as of December 31, 2023.
Headline financials
Revenue & EPS history
IES Holdings · Revenue · Quarterly
$634M
Revenue by segment
IES Holdings · $567M total across 3 segments · Q4 2023
- Residential$337M+3.0%59.5%
- Communications$171M+8.8%30.2%
- Infrastructure Solutions$58.4M+34.6%10.3%
Forward guidance
IES Holdings remains optimistic for the balance of fiscal 2024, while being cautious about demand in the single-family and multi-family housing markets due to elevated interest rates and decreased housing affordability. The outlook for other business segments remains solid, supported by long-term secular growth trends. Implemented operating process improvements have positioned the company well to adapt to changing market conditions and take advantage of growth opportunities.
Tailwinds
- Continued strong demand in key markets.
- Improved operating margins due to process improvements.
- Solid outlook for business segments less affected by housing market conditions.
- Long-term secular growth trends supporting business segments.
- Positioned well to adapt to changing market conditions and pursue growth opportunities.
Headwinds
- Cautious about demand in single-family and multi-family housing markets.
- Elevated interest rates impacting housing affordability.
- General decrease in housing affordability.
- Potential impact on Residential segment due to housing market conditions.
- Higher cash tax rate in fiscal 2024 due to utilization of federal tax net operating loss carryforwards.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.7%
Avg return
Earnings day
+2.9%
Avg return
5 days after
+4.7%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+23.4%
Q2 2024
Best reaction
-23.3%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -6.1% | +4.6% | +5.2% | |
| Q1 2026 | -19.8% | -15.2% | +4.4% | |
| Q4 2025 | +12.4% | +17.5% | +14.6% | |
| Q2 2025 | -1.9% | +6.7% | +11.7% | |
| Q1 2025 | -2.4% | +4.8% | -25.0% | |
| Q4 2024 | +3.4% | +6.1% | -21.4% | |
| Q3 2024 | +3.9% | +7.6% | +29.0% | |
| Q2 2024 | +23.4% | +27.8% | +11.4% | |
| Q1 2024 | +0.3% | +5.2% | +32.5% | |
| Q4 2023 | +14.6% | +16.0% | +7.9% | |
| Q3 2023 | +11.2% | +19.8% | +31.2% | |
| Q2 2023 | +6.1% | +9.0% | +19.7% | |
| Q1 2023 | +1.0% | +2.6% | +9.1% | |
| Q4 2022 | -1.7% | -8.3% | +3.4% | |
| Q3 2022 | -3.6% | -3.3% | -10.5% | |
| Q2 2022 | -23.3% | -22.9% | -11.8% | |
| Q1 2022 | -11.2% | -16.8% | -17.2% | |
| Q4 2021 | +1.2% | +2.8% | +1.8% | |
| Q3 2021 | -1.4% | -4.9% | -12.0% | |
| Q2 2021 | +6.1% | +0.4% | +4.1% | |
| Q1 2021 | +2.7% | -1.0% | +6.4% | |
| Q4 2020 | +4.0% | +10.1% | +24.0% | |
| Q3 2020 | +14.5% | +22.5% | +19.3% | |
| Q2 2020 | +5.3% | +11.7% | +18.2% | |
| Q1 2020 | +4.2% | -1.2% | -3.1% | |
| Q4 2019 | +9.8% | +12.3% | +14.3% | |
| Q3 2019 | +4.1% | +5.6% | +6.3% | |
| Q2 2019 | +1.2% | +1.5% | +2.3% | |
| Q1 2019 | +5.9% | +9.2% | +10.4% | |
| Q4 2018 | +2.5% | +3.1% | +1.0% | |
| Q3 2018 | +9.2% | +9.8% | +7.0% | |
| Q2 2018 | +4.1% | +1.5% | +3.2% | |
| Q1 2018 | -2.1% | -5.4% | -2.1% | |
| Q4 2017 | -8.0% | -6.6% | -8.8% | |
| Q3 2017 | -10.3% | -7.9% | +2.1% | |
| Q2 2017 | -15.8% | -15.4% | -20.8% | |
| Q1 2017 | +11.6% | +7.4% | +0.5% | |
| Q4 2016 | +8.9% | -1.9% | -8.2% | |
| Q3 2016 | +3.9% | -0.1% | +21.5% | |
| Q2 2016 | +14.0% | — | — | |
| Q1 2016 | +2.3% | — | — | |
| Q4 2015 | +7.0% | — | — | |
| Q3 2015 | +11.5% | — | — | |
| Q2 2015 | -4.9% | — | — | |
| Q1 2015 | +10.9% | — | — | |
| Q4 2014 | -5.9% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | +3.6% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2011 | -6.6% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q2 2011 | -1.0% | — | — | |
| Q4 2009 | -1.0% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q3 2011 | -0.3% | — | — | |
| Q2 2010 | +8.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro