IES Holdings Files 2024 10-K

TL;DR

IES Holdings filed its 2024 10-K, detailing FY24 performance. Check financials.

AI Summary

IES Holdings, Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its financial performance and business operations. The company, formerly known as Integrated Electrical Services, Inc., is incorporated in Delaware and headquartered in Houston, Texas. This filing provides a comprehensive overview of its fiscal year 2024 results and its position as of September 30, 2024.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look at IES Holdings' financial health, operational performance, and strategic direction for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 20240930 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 20241122 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• IES Holdings, Inc. (company) — Filer of the 10-K
• Integrated Electrical Services, Inc. (company) — Former name of IES Holdings, Inc.
• 20240930 (date) — Fiscal year end date
• 20241122 (date) — Filing date
• Houston, TX (location) — Company headquarters

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share IESC Nasdaq Global Market

Filing Documents

• iesc-20240930.htm (10-K) — 1904KB
• ex1010iessublease-fifthame.htm (EX-10.10) — 42KB
• ex191insidertradingpolicy.htm (EX-19.1) — 44KB
• q42024ex211.htm (EX-21.1) — 19KB
• q42024ex231.htm (EX-23.1) — 4KB
• q42024ex311.htm (EX-31.1) — 9KB
• q42024ex312.htm (EX-31.2) — 9KB
• q42024ex321.htm (EX-32.1) — 6KB
• q42024ex322.htm (EX-32.2) — 6KB
• ex971iesholdingsrecoupment.htm (EX-97.1) — 29KB
• iesc-20240930_g1.jpg (GRAPHIC) — 100KB
• iesc-20240930_g2.jpg (GRAPHIC) — 94KB
• image.jpg (GRAPHIC) — 11KB
• image1.jpg (GRAPHIC) — 11KB
• image2.jpg (GRAPHIC) — 11KB
• image3.jpg (GRAPHIC) — 12KB
• 0001048268-24-000134.txt ( ) — 10362KB
• iesc-20240930.xsd (EX-101.SCH) — 40KB
• iesc-20240930_cal.xml (EX-101.CAL) — 72KB
• iesc-20240930_def.xml (EX-101.DEF) — 250KB
• iesc-20240930_lab.xml (EX-101.LAB) — 760KB
• iesc-20240930_pre.xml (EX-101.PRE) — 524KB
• iesc-20240930_htm.xml (XML) — 1579KB

BUSINESS

BUSINESS 3 Item 1A.

RISK FACTORS

RISK FACTORS 12 Item 1B. UNRESOLVED STAFF COMMENTS 21

C

Item 1 C . CYBERSECURITY 21 Item 2.

PROPERTIES

PROPERTIES 22 Item 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 Item 4. MINE SAFETY DISCLOSURES 22 PART II Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 23 Item 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25 Item 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39 Item 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 40 Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 69 Item 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 69 Item 9B. OTHER INFORMATION 69 PART III Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 70 Item 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 70 Item 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 70 Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 70 Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 70 PART IV Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 71

SIGNATURES

SIGNATURES 74 PART I DEFINITIONS In this Annual Report on Form 10-K, the words "IES", the "Company", the "Registrant", "we", "our", "ours" and "us" refer to IES Holdings, Inc. and, except as otherwise specified herein, to our subsidiaries. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K includes certain statements that may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "seek," "estimate," "predict," "potential," "pursue," "target," "continue," the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company's actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to: a general reduction in the demand for our products or services; changes in general economic conditions, including supply chain constraints, high rates of inflation, changes in consumer sentiment, elevated interest rates, and market disruptions resulting from a number of factors, including geo-political events such as the Ukraine-Russia war, the conflict in the Middle East, and trade tensions between the U.S. and China; competition in the industries in which we operate, both from third parties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects; our ability to successfully manage and execute projects, the cost and availability of qualified labor and the ability to maintain positive labor relati

Business

Item 1. Business OVERVIEW IES Holdings, Inc. designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing and commercial and industrial facilities. Our operations are organized into four business segments, based upon the nature of our services: Communications – Nationwide provider of technology infrastructure services, including the design, build, and maintenance of the communications infrastructure within data centers for co-location and managed hosting customers, for both large corporations and independent businesses. Residential – Regional provider of electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation and air conditioning (HVAC) and plumbing installation services in certain markets. Infrastructure Solutions – Provider of electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products, such as generator enclosures used in data centers and other industrial applications. Commercial & Industrial – Provider of electrical and mechanical design, construction, and maintenance services to the commercial and industrial markets in various regional markets and nationwide in certain areas of expertise, such as the power infrastructure market and data centers. While sharing common goals and values, each of the Company's segments manages its own day-to-day operations. Our corporate office is focused on significant capital allocation decisions, investment activities and selection of segment leadership. The corporate office also assists with strategic and operational improvement initiatives, talent development, sharing of best practices across the organization and the establishment and monitoring of risk management practices within our segments. IES Holdings, Inc. is a Delaware corporation established in 1997 and

View Full Filing

View this 10-K filing on SEC EDGAR