IES Holdings, Inc. has reported an 18% increase in revenue for the first quarter of fiscal 2025, with revenue reaching $750 million compared to $634 million for the same quarter of fiscal 2024. Operating income also saw a significant increase, rising by 29% to $74.6 million for the first quarter of fiscal 2025 compared to $58.0 million for the same quarter of fiscal 2024.
Net income attributable to IES experienced a substantial 37% increase, reaching $56.3 million for the first quarter of fiscal 2025 compared to $41.0 million for the same quarter of fiscal 2024. Diluted earnings per share attributable to common stockholders also rose to $2.72 for the first quarter of fiscal 2025, up from $1.87 for the same quarter of fiscal 2024.
Adjusted net income attributable to IES, a non-GAAP financial measure, increased by 33% to $54.6 million for the first quarter of fiscal 2025 compared to $40.9 million for the same quarter of fiscal 2024. Similarly, diluted adjusted earnings per share attributable to common stockholders saw an increase to $2.64 for the first quarter of fiscal 2025, up from $1.86 for the same quarter of fiscal 2024.
The company's remaining performance obligations, a GAAP measure of future revenue, stood at approximately $1.2 billion as of December 31, 2024, while backlog, a non-GAAP financial measure, was approximately $1.8 billion as of the same date.
The communications segment's revenue increased by 36% to $232.9 million in the first quarter of fiscal 2025, compared to the same quarter of fiscal 2024. The residential segment also saw a 1% increase in revenue, reaching $320.0 million in the first quarter of fiscal 2025. The infrastructure solutions segment's revenue surged by 72% to $108.1 million, and the commercial & industrial segment's revenue increased by 4% to $88.5 million in the first quarter of fiscal 2025.
IES Holdings, Inc. invested $13.2 million in capital expenditures during the first quarter of fiscal 2025 and, subsequent to the quarter end, increased its revolving credit facility to $300 million and acquired Arrow Engine Company.
The company also repurchased 21,048 shares of its common stock for $4.4 million during the first quarter of fiscal 2025, ending the quarter with $193.7 million remaining under its stock repurchase authorization.
The press release also mentioned the company's focus on maintaining strong operating margins across all operating segments and its ongoing investments in its business.
For further details on the company’s financial results, readers are encouraged to refer to the company’s quarterly report on Form 10-Q for the fiscal quarter ended December 31, 2024, to be filed with the Securities and Exchange Commission by February 4, 2025. Today the company's shares have moved -4.7% to a price of $209.54. For more information, read the company's full 8-K submission here.
