IES Holdings Q1 FY25 10-Q Filed

TL;DR

IES Holdings Q1 FY25 10-Q is in. Check financials.

AI Summary

IES Holdings, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This filing provides investors with an update on IES Holdings' financial performance and operational status for the most recent quarter, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 20241231 — Fiscal Year End (Reporting period end date)
• 20250204 — Filing Date (Date the report was submitted)

Key Players & Entities

• IES Holdings, Inc. (company) — Filer of the 10-Q
• 20241231 (date) — End of the reporting period
• 20250204 (date) — Filing date
• 7138601500 (phone_number) — Business phone number

FAQ

Key Financial Figures

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

Filing Documents

• iesc-20241231.htm (10-Q) — 1072KB
• q12025ex311-dec.htm (EX-31.1) — 9KB
• q12025ex312-dec.htm (EX-31.2) — 9KB
• q12025ex321-dec.htm (EX-32.1) — 6KB
• q12025ex322-dec.htm (EX-32.2) — 6KB
• iesc-20241231_g1.jpg (GRAPHIC) — 100KB
• 0001048268-25-000031.txt ( ) — 6499KB
• iesc-20241231.xsd (EX-101.SCH) — 32KB
• iesc-20241231_cal.xml (EX-101.CAL) — 59KB
• iesc-20241231_def.xml (EX-101.DEF) — 203KB
• iesc-20241231_lab.xml (EX-101.LAB) — 564KB
• iesc-20241231_pre.xml (EX-101.PRE) — 394KB
• iesc-20241231_htm.xml (XML) — 952KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of December 31, 2024 and September 30, 2024 5 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended December 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 32

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION DEFINITIONS In this Quarterly Report on Form 10-Q, 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 Quarterly Report on Form 10-Q 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, tariffs, 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

Financial Statements

Item 1. Financial Statements IES HOLDINGS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In Thousands, Except Share Information) December 31, September 30, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 59,073 $ 100,832 Marketable securities 52,967 35,003 Accounts receivable: Trade, net of allowance of $ 1,970 and $ 1,818 , respectively 459,006 469,833 Retainage 89,071 89,793 Inventories 104,312 101,728 Costs and estimated earnings in excess of billings 59,630 60,139 Prepaid expenses and other current assets 19,886 14,366 Total current assets 843,945 871,694 Property and equipment, net 138,346 134,197 Goodwill 93,960 93,960 Intangible assets, net 42,386 45,890 Investments 44,900 — Deferred tax assets 23,049 22,458 Operating right of use assets 63,553 61,956 Other non-current assets 14,870 13,871 Total assets $ 1,265,009 $ 1,244,026 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses 332,585 363,582 Billings in excess of costs and estimated earnings 170,393 158,972 Total current liabilities 502,978 522,554 Long-term debt — — Operating long-term lease liabilities 41,059 40,445 Other tax liabilities 17,063 16,677 Other non-current liabilities 11,532 12,241 Total liabilities 572,632 591,917 Noncontrolling interest 39,938 40,996 COMMITMENTS AND CONTINGENCIES (NOTE 12) STOCKHOLDERS' EQUITY: Preferred stock, $ 0.01 par value, 10,000,000 shares authorized, none issued and outstanding — — Common stock, $ 0.01 par value, 100,000,000 shares authorized; 22,049,529 issued and 20,006,630 and 19,971,670 outstanding, respectively 220 220 Treasury stock, at cost, 2,042,899 and 2,077,859 shares, respectively ( 101,838 ) ( 90,325 ) Additional paid-in capital 201,138 203,458 Retained earnings 552,919 497,760 Total stockholders' equity 652,439 611,113 Total liabilities and stockholders' equity $ 1,265,009 $ 1,244,026 The accompanying notes are a

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View this 10-Q filing on SEC EDGAR