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IES Empowering Growth IES Holdings Reports Fiscal 2021 Second Quarter Results April 30 , 2021 HOUSTON , April 30 , 2021 ( GLOBE NEWSWIRE ) -- IES Holdings , Inc. ( or " IES " or the " Company " ) ( NASDAQ : IESC ) today announced financial results for the quarter ended March 31 , 2021 . Second Quarter 2021 Highlights • Revenue of $ 332 million for the second quarter of fiscal 2021 , an increase of 14 % compared with $ 291 million for the same quarter of fiscal 2020 • Operating income of $ 17.1 million for the second quarter of fiscal 2021 , an increase of 86 % compared with $ 9.2 million for the same quarter of fiscal 2020 • Net income attributable to IES increased 106 % to $ 12.8 million for the second quarter of fiscal 2021 , compared with $ 6.2 million for the same quarter of fiscal 2020 ; diluted earnings per share attributable to common stockholders of $ 0.58 compared with $ 0.29 for the second fiscal quarters of 2021 and 2020 , respectively • Adjusted net income attributable to IES ( a non - GAAP financial measure , as defined below ) increased 94 % to $ 15.5 million compared with $ 8.0 million for the same quarter of fiscal 2020 ; adjusted diluted earnings per share attributable to common stockholders ( a non - GAAP financial measure , as defined below ) of $ 0.71 compared with $ 0.38 for the second fiscal quarters of 2021 and 2020 , respectively • Remaining performance obligations of $ 614 million and backlog ( a non - GAAP financial measure , as defined below ) of $ 707 million as of March 31 , 2021 Overview of Results " Our second quarter results demonstrate the strength of our geographic and end - market diversification , as well as the benefits of our focus on strategic acquisitions , " said Jeff Gendell , Chairman and Chief Executive Officer . " As the U.S. economy continues to recover from the COVID - 19 pandemic , our businesses are presented with numerous opportunities but also continued and new challenges . In this environment , our focus remains on the health and safety of our employees and working closely with our customers and suppliers to address emerging supply and delivery constraints . We believe our businesses possess strong growth potential , reflecting not only pent - up demand from our customers for our services and products , but also the impact of key secular growth trends in our end markets . " Consolidated revenue for the second quarter of fiscal 2021 increased 14 % over the prior year , led by contributions from acquisitions made in fiscal 2020 and 2021 , as well as growth in our Residential and Infrastructure Solutions segments . Operating income for the second quarter of fiscal 2021 increased 86 % over the prior year as we delivered improved results across all our business segments , resulting in an increase in our consolidated operating margin year - over - year . Higher input prices continue to be a challenge , as well as availability and lead time issues associated with certain materials and components . In addition , we were impacted by the extreme winter weather experienced in Texas and the Midwest this past quarter . However , our strong financial position , the deep experience of our management team and the dedication of our employees have helped us navigate these unforeseen challenges and will be critical factors for our success going forward . " For the second quarter of fiscal 2021 , the Communications segment reported revenue of $ 94.9 million , a 1 % decrease from the second quarter of fiscal 2020 , driven primarily by slower than typical post - holiday customer ramp - ups , extended project timelines related to COVID - 19 safety protocols , and severe winter weather impacts on operations across Texas and the Midwest . Despite flat revenue , operating income for the Communications segment increased 38 % year - over - year to $ 9.9 million , as profitability benefited from operating efficiencies . Reflecting strong demand in the single - family housing market , as well as the contribution of businesses acquired subsequent to the second quarter of fiscal 2020 , the Residential segment's revenue was $ 150.3 million in the second quarter of fiscal 2021 , an increase of 50 % compared with the second quarter of fiscal 2020. Operating income for IES's Residential segment was $ 8.5 million for the second quarter of fiscal 2021 , an increase of 18 % compared to the second quarter of fiscal 2020 , as the benefit of higher volumes was partly offset by higher prices for copper , electrical components and other materials . Revenue in the Infrastructure Solutions segment increased 18 % to $ 34.7 million in the second quarter of fiscal 2021 compared to the second quarter of fiscal 2020 , driven primarily by increased demand for our custom power solutions and the contribution of businesses acquired subsequent to the second quarter of fiscal 2020. The segment's operating income increased 43 % to $ 3.3 million compared to the second quarter of fiscal 2020 , primarily as a result of higher volumes and improved execution in our custom power solutions business . The Commercial & Industrial segment reported revenue of $ 52.0 million for the second quarter of fiscal 2021 , a decline of 21 % compared to the second quarter of fiscal 2020. The segment reported an operating loss of $ 1.2 million for the second quarter of fiscal 2021 , compared with a loss of $ 4.1 million for the second quarter of fiscal 2020. Although the business has adjusted its cost structure in response to a highly competitive market and achieved operating efficiencies on certain projects , it continues to be affected by the ongoing COVID - 19 pandemic , which has resulted in delays in awarding new projects and decreased demand for new construction in certain sectors we serve .