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HOUSTON, TX – IES Holdings, Inc. (NASDAQ:IESC), a company specializing in electrical work, has reported the resignation of Elizabeth D. Leykum from its Board of Directors, effective today. The announcement was made in a recent 8-K filing with the Securities and Exchange Commission.
Leykum, who also served on the company's Audit Committee and the Human Resources and Compensation Committee, cited other commitments as the reason for her departure. According to the filing, her decision to step down is not the result of any disagreements with IES Holdings regarding its operations, policies, or practices.
IES Holdings, incorporated in Delaware and with its executive offices in Houston, Texas, has a fiscal year ending on September 30. The company, known by its former name Integrated Electrical Services, Inc. until January 2015, is traded on the NASDAQ Global Market under the ticker IESC.
In other recent news, IES Holdings, Inc. has reported significant financial growth for its third quarter ending June 30, 2024. The company's revenue surged by 31% to $768 million, while operating income rose to $90.2 million, a 163% increase from the previous fiscal year. Net income attributable to IES for the quarter was $62.1 million, marking a 175% increase from the prior year's quarter.
The company's backlog, indicative of its ongoing growth trajectory, stood at approximately $1.7 billion. Strategic investments, expansion into new markets, and increased market share in existing ones have contributed to IES's success, with the communications, infrastructure solutions, and commercial & industrial segments benefiting from robust demand.
In addition to the strong financial performance, IES Holdings continued its share repurchase program, with $20.9 million in shares repurchased during the third quarter. The Board of Directors authorized a new $200 million share repurchase program following the end of the quarter. These recent developments suggest the company's solid financial position and ability to capitalize on strong market demand.
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