IES Holdings, Inc. has announced the appointment of John Louis Fouts to its board of directors, effective September 23, 2024. Fouts brings with him an extensive background in investment management and finance, having served as the managing member at Fouts Family Investments since 2021 and as a trustee of the Georgia Tech Foundation.
Meanwhile, IES Holdings, Inc. itself is a company that designs and installs integrated electrical and technology systems and provides infrastructure products and services to various end markets. The company has more than 9,000 employees serving clients in the United States.
This appointment comes as IES Holdings, Inc. continues to navigate its financial performance. In the latest financial report, the company reported a 15% increase in revenue compared to the same period last year, reaching $1.2 billion. Additionally, the net income for the quarter saw a significant surge, rising by 25% to $40 million.
Furthermore, IES Holdings, Inc. has successfully reduced its operating expenses, which decreased by 8% to $150 million. The company's gross margin also experienced a boost, increasing to 22% from the previous 20% in the same period last year.
These financial metrics reflect the company's ongoing efforts to drive growth and improve its operational efficiency, which will likely be an area of focus for the newly appointed board member, John Louis Fouts, as he brings his expertise in investment management and finance to the table. Today the company's shares have moved 3.7% to a price of $197.01. Check out the company's full 8-K submission here.
