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Earnings analysis · 10-Q

IESC earnings analysis

Filed May 1, 2026 · Our reading of the company's report

The latest report

IES Holdings, Inc. reported strong financial results for Q2 2026, with revenue reaching $974.3 million, a significant increase of 16.8% year-over-year. The company saw net income attributed to IES of $109.9 million,…

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IES Holdings, Inc. reported strong financial results for Q2 2026, with revenue reaching $974.3 million, a significant increase of 16.8% year-over-year. The company saw net income attributed to IES of $109.9 million, reflecting a margin improvement, buoyed by higher demand in their Communications and Infrastructure Solutions segments, though the Residential segment faced pressure. All signs indicate a robust outlook as the firm continues to grow its backlog, particularly in the data center sector.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $73 Operating expenses $15 Left as operating profit $12

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$4.51
Segment
Communications
Segment
Residential
Segment
Infrastructure Solutions
Segment
Commercial & Industrial

What stood out

  • Strong Revenue Growth

    Revenue for Q2 2026 was $974.3M, up 16.8% from $833.96M in Q2 2025.

  • Improved Gross Margin

    Gross margin increased to 26.2% in Q2 2026, up from 25.0% in Q2 2025.

  • Record Net Income

    Net income reached $109.9M, up from $70.65M in Q2 2025, representing a 55.5% increase.

  • Communications Segment Growth

    Communications revenue grew 34.7% YoY to $367.7M in Q2 2026, driven by increased demand in data centers.

  • Operating Income Improvement

    Operating income rose to $112.3M, up 21% from the prior year's $92.7M.

  • Cash Flow from Operations Increased

    Net cash provided by operating activities was $131M, up from $62.1M in the prior year.

What to watch

  • Residential Segment Decline

    The Residential segment saw a revenue decrease of 9.5%, falling to $287.6M YoY due to housing affordability challenges.

  • Increased SG&A Expenses

    Selling, general and administrative expenses rose by 22.7%, totaling $142.4M for Q2 2026.

  • Labor Availability Challenges

    Management noted ongoing issues with labor availability, potentially impacting future growth.

Management's outlook

Management expects continued growth in backlog, particularly in data centers, driving future revenue.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.