Overview
Electrical systems provider's fiscal Q1 revenue rose 16% yr/yr
Adjusted EPS for fiscal Q1 missed analyst expectations
Company completed acquisition of Gulf Island Fabrication
Outlook
IES Holdings anticipates strong demand in data centers to drive segment growth
Company expects housing market challenges to persist, affecting Residential segment
IES Holdings plans to focus expansion in markets with strong single-family electrical presence
Result Drivers
DATA CENTER DEMAND - Strong demand in data centers drove a 51% increase in Communications segment revenue
RESIDENTIAL MARKET CHALLENGES - Residential segment revenue declined 11% due to housing market softness
GULF ISLAND ACQUISITION - Acquisition of Gulf Island expected to expand Infrastructure Solutions capabilities
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Slight Miss* | $871 mln | $876 mln (1 Analyst) |
Q1 Adjusted EPS | Miss | $3.71 | $3.82 (1 Analyst) |
Q1 Adjusted Net Income | Miss | $75.20 mln | $81 mln (1 Analyst) |
Q1 Net Income | $91.40 mln | ||
Q1 Operating Income | Miss | $97.70 mln | $106 mln (1 Analyst) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for IES Holdings Inc is $440.00, about 7.3% below its January 29 closing price of $474.61
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 25 three months ago
Press Release: ID:nGNX7KyzkV
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)