IES Holding Helps With Building Data Centers and Reindustrialization. Growth in Q3 Accelerates to 31%!

T. Kletterer
Lesedauer: 2 Minuten

IES Holding is benefiting from the expansion of data centers and reindustrialization in the USA. The third quarter was strong with 31% growth. The momentum is expected to continue - into 2025. A $200 million share buyback is providing optimism. IES Holding (IESC) provides integrated electrical and technology systems and infrastructure products and services for a variety of end markets. These include data centers, residential buildings, commercial and industrial facilities. The business is divided into four segments. These include communications,...

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IES Holding (IESC) provides integrated electrical and technology systems and infrastructure products and services for a variety of end markets. These include data centers, residential buildings, commercial and industrial facilities. The business is divided into four segments. These include communications, residential, infrastructure solutions and commercial & industrial. The communications segment covers the planning, construction and maintenance of power and communications infrastructure in data centers for companies. It is also dedicated to the planning and installation of electrical and state-of-the-art communication infrastructure in industrial facilities and repairs. IES Holding is thus well positioned to continue benefiting from the expansion of data center infrastructure and reindustrialization.

On 02.08.2024, the company reported on the third quarter. Growth accelerated in this quarter, as revenue increased by 31% to $768 million. Net profit even increased by 123% to $62.1 million or $2.67 per share. The order backlog landed at $1.7 billion. The company pointed to strong growth in the data center market, which drove revenues in the communications segment up by 36% to $192.3 million. Overall, a strong performance is also expected in the fourth quarter, which should extend into 2025.

The share could break out of the consolidation after the very respectable figures today. The fact that a further $200 million will be invested in a share buyback will also help.

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