IES Holdings Shares Rise on Higher 4Q Earnings, Revenue

Dow Jones2024-11-23

By Chris Wack

IES Holdings shares rose after the company reported a jump in quarterly profit and revenue.

Shares of the electrical- and technology-systems company were recently up 5.4% at $284.95. The stock price has nearly quadrupled over the past 52-weeks.

The Houston company Wednesday reported fiscal fourth-quarter net income of $63.1 million, or $3.06 a share, compared with earnings of $37.8 million, or $1.66 a share, in the same quarter last year.

Adjusted earnings were $2.79 a share for the quarter.

Revenue for the quarter was $775.8 million, up 20% from a year earlier. The company said revenue grew in all four of its operating segments.

The company said that for fiscal 2025, it expects its communications, infrastructure-solutions and commercial-and-industrial operating segments to benefit from continued strong demand, particularly in the data center end markets.

IES said it had a backlog of $1.8 billion as of Sept. 30.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

November 22, 2024 11:04 ET (16:04 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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