IES Holdings (IESC) Q1 FY2024 earnings: revenue $634 million, up 10.4% on the year

IES Holdings, Inc. (IESC) reported revenue of $634 million for Q1 FY2024, the quarter ended 31 December 2023, up 10.4% on the same quarter a year earlier. Net income was $41 million, up 55.1% on the year, and diluted earnings per share $1.87. The figures are the company's own, from the 10-Q it filed with the SEC on 2 February 2024.

Revenue$634 millionup 10.4%

Net income$41 millionup 55.1%

Diluted EPS$1.87

QuarterQ1 FY2024ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	634	649	n/a	n/a
Cost of revenue	491	508	n/a	n/a
Gross profit	144	141	n/a	n/a
Gross margin	22.7%	21.7%	n/a
Selling, general and administrative	85.8	87.2	n/a	n/a
Operating income	58.0	53.2	n/a	n/a
Operating margin	9.1%	8.2%	n/a
Interest expense	0.4	0.4	n/a	n/a
Pre-tax income	59.0	53.3	n/a	n/a
Income tax	15.4	12.3	n/a	n/a
Effective tax rate	26.1%	23.1%	n/a
Net income	41.0	37.8	n/a	n/a
Net margin	6.5%	5.8%	n/a
Diluted EPS	$1.87	$1.66	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	25.0	57.3	n/a	n/a
Capital expenditure	6.5	6.4	n/a	n/a
Free cash flow	18.4	50.9	n/a	n/a
Free cash flow margin	2.9%	7.8%	n/a
Cash from investing	-6.0	-6.2	n/a	n/a
Cash from financing	-7.3	-3.9	n/a	n/a
Depreciation and amortisation	7.6	9.3	n/a	n/a
Share-based compensation	1.4	1.1	n/a	n/a
Buybacks	0.9	0.1	n/a	n/a
Diluted shares, weighted	20m	n/a	n/a	n/a
Shares outstanding at period end	20m	20m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	489	450	n/a	n/a
Non-controlling interest	55.0	50.0	n/a	n/a
Redeemable equity	55.0	50.0	n/a	n/a
Debt	0.0	0.0	n/a	n/a
Operating lease liabilities	42.3	42.1	n/a	n/a
Other liabilities	401	390	n/a	n/a
Total liabilities and equity	1,042	982	n/a	n/a
Fixed assets	65.4	63.4	n/a	n/a
Goodwill	92.4	92.4	n/a	n/a
Intangible assets	53.1	56.2	n/a	n/a
Investments	n/a	0.0	n/a	n/a
Cash and equivalents	87.5	75.8	n/a	n/a
Receivables	389	364	n/a	n/a
Inventory	114	95.7	n/a	n/a
Other assets	241	234	n/a	n/a
Total assets	1,042	982	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	649	634	706	768	776	750	834	890	898	871	974	1,243
Cost of revenue	508	491	534	574	589	572	625	651	665	651	719	902
Gross profit	141	144	172	195	186	178	209	240	233	220	255	341
Gross margin	22%	23%	24%	25%	24%	24%	25%	27%	26%	25%	26%	27%
SG&A	87.2	85.8	95.3	105	111	103	116	127	129	122	142	162
Operating income	53.2	58.0	77.7	90.2	75.0	74.6	92.7	112	104	97.7	112	179
Operating margin	8%	9%	11%	12%	10%	10%	11%	13%	12%	11%	12%	14%
Interest expense	0.4	0.4	0.4	0.4	0.1	0.5	0.3	0.5	0.5	0.5	1.5	1.0
Pre-tax income	53.3	59.0	76.2	89.2	80.3	77.7	98.7	109	109	116	149	205
Tax rate	23%	26%	25%	25%	18%	26%	26%	27%	20%	24%	26%	25%
Net income	37.8	41.0	52.9	62.1	63.2	56.3	70.7	77.2	102	91.4	110	153
Net margin	6%	6%	7%	8%	8%	8%	8%	9%	11%	10%	11%	12%
Diluted EPS	$1.66	$1.87	$2.29	$2.67	$3.06	$2.72	$3.50	$3.81	$4.99	$4.51	$5.44	$7.57
Operating cash flow	57.3	25.0	33.7	82.9	92.8	37.3	24.8	92.0	132	27.7	103	108
Capital expenditure	6.4	6.5	6.8	17.5	14.3	13.2	17.0	17.1	20.0	46.6	31.8	44.6
Free cash flow	50.9	18.4	26.9	65.4	78.5	24.1	7.9	74.8	112	-18.9	71.5	63.8
Buybacks	0.1	0.9	2.3	21.1	19.7	15.7	20.5	5.3	0.1	17.7	1.7	0.1
Shares outstanding	20m	20m	20m	20m	20m	20m	20m	20m	20m	20m	20m	20m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 December 2023, filed 2 February 2024, accession 0001048268-24-000026: the filing on EDGAR. All of IES Holdings, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install