IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ:IESC) today announced financial results for the quarter ended March 31, 2018.
Second Quarter 2018 and Year-to-Date Highlights
- Revenue of $206 million for the second quarter of fiscal 2018, an increase of 1.0% compared with the second quarter of fiscal 2017; Revenue of $404 million for the year-to-date 2018, an increase of 2.1% compared with the year-to-date 2017
- Income from operations of $4.1 million for the second quarter of fiscal 2018, an increase of $2.5 million compared with the second quarter of fiscal 2017; Income from operations of $7.1 million for the year-to-date 2018, a decrease of $1.5 million compared with the year-to-date 2017
- Net income attributable to IES for the second quarter of fiscal 2018 of $2.2 million, or $0.11 per diluted share, an increase of $1.7 million, or $0.09 per diluted share, compared with the second quarter of fiscal 2017; Net loss attributable to IES for the year-to-date 2018 of $27 million, or $1.29 per diluted share, a decrease of $32 million, or $1.49 per diluted share, compared with the year-to-date 2017, primarily driven by a $31.5 million preliminary charge in fiscal 2018 related to the enactment of the Tax Cuts and Jobs Act
- Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) for the second quarter of fiscal 2018 of $3.4 million, or $0.16 per diluted share, an increase of $2.3 million, or $0.11 per diluted share, compared with the second quarter of fiscal 2017; Adjusted net income attributable to IES for the year-to-date 2017 of $5.8 million, or $0.27 per diluted share, a decrease of $1.3 million, or $0.05 per diluted share, compared with the year-to-date 2017
- Backlog of approximately $343 million as of March 31, 2018, as compared to approximately $337 million as of December 31, 2017 and approximately $335 million as of March 31, 2017