IES

IES Holdings Acquires Greiner Industries

Retrieved on: 
Monday, April 1, 2024
Culture, Growth, Acquisition, Workforce, IESC, Family, IES, Retail

HOUSTON, April 01, 2024 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced today that it has acquired Greiner Industries, Inc. (“Greiner”), a Mount Joy, PA-based structural steel fabrication and services company.

Key Points: 
  • HOUSTON, April 01, 2024 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced today that it has acquired Greiner Industries, Inc. (“Greiner”), a Mount Joy, PA-based structural steel fabrication and services company.
  • Greiner, with 2023 revenue of approximately $58 million, will become part of IES’s Infrastructure Solutions segment and continue to operate under the Greiner name.
  • I am excited to welcome Rick Sine, Vice President of Operations, who will lead Greiner post-closing, as well as Greiner’s over 275 team members to IES.
  • We look forward to working with the entire Greiner team to expand our combined capabilities and support the growth of both Greiner and IES customers.”
    Frank Greiner, Founder of Greiner Industries, added, “After nearly 50 years as a family-owned business, I am excited for Greiner to join the IES family and continue to meet the evolving needs of our customers.

A Majority of Grade 9-12 Public Schools Rate Themselves Favorably on Preparing Students for College

Retrieved on: 
Tuesday, March 19, 2024
AP, American Samoa, Education sciences, COVID-19, K-12, International Baccalaureate, School, Research, Policy, OA, Student, Capitol Hill, Saipan, NCES, Crime, IB, Workforce, Advanced Placement, SRO, See, Collection, IES, Parent, Commonwealth, Tutoring

WASHINGTON, March 19, 2024 /PRNewswire/ -- A majority of public schools offering any of grades 9 or above (9-12 schools) say they do a "good," "very good," or "excellent" job preparing students for college (77 percent) and the workforce (86 percent), according to new data from the National Center for Education Statistics (NCES), the statistical center within the U.S. Department of Education's Institute of Education Sciences (IES). For college preparation, 47 percent of schools overall rated themselves as doing a "very good" or "excellent" job, whereas the percentage was lower for schools in high-poverty neighborhoods and schools with fewer than 300 students (30 percent each), and higher for schools that enroll 1,000 or more students (74 percent).

Key Points: 
  • "This latest report provides valuable insights on how schools rate their own work preparing students for college and the workforce," said NCES Commissioner Peggy G. Carr.
  • "One noteworthy finding is that a lower percentage of schools in high-poverty neighborhoods give themselves the highest marks, 'excellent' or 'very good,' in preparing students for college, when compared with the national population of schools.
  • The new NCES data also provide insights into the availability of advanced coursework in public schools.
  • In addition to data on advanced coursework offerings, this month's collection explored the availability of independent world language courses taught in K-12 public schools.

BECTROL and IES Synergy Forge a Groundbreaking Alliance to Electrify North America with Next-Gen EV Fast Charging Solutions

Retrieved on: 
Tuesday, February 27, 2024
Engineering, Multimedia, Progress, CSA, UL, Certification, IES, News, Longevity, Partnership

Electrifying News: BECTROL & IES Synergy Revolutionize EV Charging in North America with a new strategic partnership:

Key Points: 
  • Electrifying News: BECTROL & IES Synergy Revolutionize EV Charging in North America with a new strategic partnership:
    TORONTO, Feb. 27, 2024 /PRNewswire/ - In an electrifying leap forward for electric vehicle infrastructure, BECTROL and IES Synergy are thrilled to unveil their strategic partnership.
  • This alliance is not just a collaboration following our decade-long relationship; it's a significant milestone to revolutionize EV fast charging technology, promising to supercharge the North American EV landscape.
  • As a result, Bectrol is becoming the second fast charging station manufacturer in Canada, and the first for the 120-200 Kw range.
  • A Vision for Continuous Joint Innovation:
    As the partnership evolves, BECTROL and IES Synergy are already on the path to developing new, innovative charging solutions, further solidifying our commitment to advancing EV charging technology.

Nearly One-Third of Public Schools Have One or More Portable Buildings in Use

Retrieved on: 
Thursday, February 15, 2024
Collection, Commonwealth, Parent, Learning, American Samoa, Literacy, Health, School, COVID-19, Education sciences, Policy, IES, Child, SPP, NCES, K-12, Research, Student, Tutoring

WASHINGTON, Feb. 15, 2024 /PRNewswire/ -- Nearly one-third of public schools (31 percent) have one or more non-permanent (portable) buildings in use on campus, according to data released today by the National Center for Education Statistics (NCES), the statistical center within the U.S. Department of Education's Institute of Education Sciences (IES). Additionally, major repair, renovation, or modernization work was being performed in 21 percent of all public schools as of December of this academic year, when the survey was administered. The average age of the main instructional building among reporting U.S. public schools is 49 years, with 38 percent constructed before 1970.1

Key Points: 
  • The NCES data provide information on matters related to air quality inside and outside of public schools.
  • Fifty-nine percent of public schools reported having one or more instructional coaches working at their school.
  • Almost all public schools reported that they have ways to inform parents about their children's learning beyond report cards or summative assessments.
  • Twenty percent of public schools reported that they did not know the year when their school's main instructional building was constructed.

IES Holdings Reports Fiscal 2024 First Quarter Results

Retrieved on: 
Friday, February 2, 2024
Security (finance), IESC, Growth, GAAP, IES, Housing, Tax, Investment, Commercial, Sale

Revenue of $634 million for the first quarter of fiscal 2024, an increase of 10% compared with $575 million for the same quarter of fiscal 2023

Key Points: 
  • Revenue of $634 million for the first quarter of fiscal 2024, an increase of 10% compared with $575 million for the same quarter of fiscal 2023
    Operating income of $58.0 million for the first quarter of fiscal 2024, an increase of 43% compared with $40.7 million for the same quarter of fiscal 2023; operating income for the first quarter of fiscal 2023 included a pretax gain of $13.0 million from the sale of STR Mechanical in October 2022
    Net income attributable to IES of $41.0 million for the first quarter of fiscal 2024, an increase of 55% compared with $26.4 million for the same quarter of fiscal 2023, and diluted earnings per share attributable to common stockholders of $1.87 for the first quarter of fiscal 2024, compared with $1.14 for the same quarter of fiscal 2023; net income attributable to IES and diluted earnings per share attributable to common stockholders for the first quarter of fiscal 2023 included an after tax gain of $9.6 million and $0.47, respectively, from the sale of STR Mechanical
    Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) of $41.0 million for the first quarter of fiscal 2024, an increase of 106% compared with $19.9 million for the same quarter of fiscal 2023, and diluted adjusted earnings per share attributable to common stockholders of $1.87 for the first quarter of fiscal 2024, compared with $0.82 for the same quarter of fiscal 2023
    Remaining performance obligations, a GAAP measure of future revenue to be recognized from current contracts with customers, of approximately $1.1 billion as of December 31, 2023
    Backlog (a non-GAAP financial measure, as defined below) of approximately $1.5 billion as of December 31, 2023
    "We are pleased with our financial performance in the first quarter of fiscal 2024, as we continued to build on the progress we saw in fiscal 2023," said Jeff Gendell, Chairman and Chief Executive Officer.
  • Our Communications segment’s revenue was $170.7 million in the first quarter of fiscal 2024, an increase of 16% compared with the first quarter of fiscal 2023.
  • Our Residential segment’s revenue was $315.9 million in the first quarter of fiscal 2024, a decrease of 1% compared with the first quarter of fiscal 2023.
  • Operating income for the first quarter of fiscal 2024 was $10.9 million, compared with $4.7 million for the first quarter of fiscal 2023.

New Schools Data Examine Violent Incidents, Bullying, Drug Possession, 'Restorative' Practices, Security Staff, and More

Retrieved on: 
Wednesday, January 17, 2024
Student, Learning, NCES, Crime, Collection, Bullying, Education sciences, IES, Education, Violence, Coronavirus, Teaching, Mobile phone

WASHINGTON, Jan. 17, 2024 /PRNewswire/ -- A collection of new data sheds light on the state of school crime and safety, as well as the school environment, in U.S. public schools, including a finding that 76 percent of public schools prohibit non-academic use of cell phones or smartphones during school hours. Also, 90 percent of public schools said they increased social and emotional support for students in response to the coronavirus pandemic in 2021-22, according to the new survey results from the National Center for Education Statistics (NCES), the statistical center within the U.S. Department of Education's Institute of Education Sciences (IES).

Key Points: 
  • In addition, 67 percent of public schools recorded at least one violent incident in 2021-22.
  • "These critically important data reveal some of the challenges public schools face in keeping the focus on teaching and learning, such as violence, drug use, and bullying," said NCES Commissioner Peggy G. Carr.
  • "At the same time, we gain insights into ways public schools are stepping up with supports beyond academics, such as the finding that nine in ten public schools increased social and emotional supports for students."
  • The new data come from NCES's School Survey on Crime and Safety , a nationally representative survey of about 4,800 public elementary and secondary schools.

Fortinet Advances the Industry’s Most Comprehensive Operational Technology Security Platform

Retrieved on: 
Monday, December 18, 2023
Wi-Fi, AT&T, Policy, Risk, Security Service, Environment, News, NIST, IES, Fortinet, Class 1, Face, Risk management, Intelligence, Organization, EVP, OT, Bank

SUNNYVALE, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Fortinet ® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the latest release of new, integrated operational technology (OT) security solutions and services.

Key Points: 
  • SUNNYVALE, Calif., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Fortinet ® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the latest release of new, integrated operational technology (OT) security solutions and services.
  • These additions further distance Fortinet’s industry-leading OT Security Platform from the rest of the market.
  • The Fortinet OT Security Platform is an integrated portfolio of cybersecurity products, solutions, and security services designed specifically for industrial networks and powered by real-time OT threat intelligence.
  • Because the OT Security Platform is a part of the Fortinet Security Fabric, it empowers customers with deep visibility across their entire environment and securely facilitates IT/OT convergence.

IES Holdings Reports Fiscal 2023 Fourth Quarter and Full Year Results

Retrieved on: 
Thursday, December 7, 2023
STR, Tax, Annual report, Commercial, Sale, IESC, IES, Growth, Communication, GAAP, Security (finance), Video game

HOUSTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter and fiscal year ended September 30, 2023.

Key Points: 
  • HOUSTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced financial results for the quarter and fiscal year ended September 30, 2023.
  • Revenue of $649 million for the fourth quarter of fiscal 2023, an increase of 5% compared with $617 million for the same quarter of fiscal 2022
    Operating income of $53.2 million for the fourth quarter of fiscal 2023, an increase of 112% compared with $25.0 million for the same quarter of fiscal 2022
    Net income attributable to IES of $37.8 million for the fourth quarter of fiscal 2023, an increase of 133% compared with $16.2 million for the same quarter of fiscal 2022, and diluted earnings per share attributable to common stockholders of $1.66 for the fourth quarter of fiscal 2023, compared with $0.72 for the same quarter of fiscal 2022
    Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) of $39.5 million for the fourth quarter of fiscal 2023, an increase of 89% compared with $20.9 million for the same quarter of fiscal 2022, and diluted adjusted earnings per share attributable to common stockholders of $1.74 for the fourth quarter of fiscal 2023, compared with $0.95 for the same quarter of fiscal 2022
    Remaining performance obligations, a GAAP measure of future revenue to be recognized from current contracts with customers, of approximately $1.1 billion as of September 30, 2023
    Backlog (a non-GAAP financial measure, as defined below) of approximately $1.6 billion as of September 30, 2023
    Revenue of $2.4 billion for fiscal 2023, an increase of 10% compared with $2.2 billion for fiscal 2022
    Operating income of $159.8 million for fiscal 2023, an increase of 185% compared with $56.0 million for fiscal 2022
    Net income attributable to IES of $108.3 million for fiscal 2023, an increase of 212% compared with $34.8 million for fiscal 2022, and diluted earnings per share attributable to common stockholders of $4.54 for fiscal 2023, compared with $1.44 for fiscal 2022
    Adjusted net income attributable to IES of $111.9 million for fiscal 2023, an increase of 154% compared with $44.1 million for fiscal 2022, and diluted adjusted earnings per share attributable to common stockholders of $4.71 for fiscal 2023 compared with $1.88 for fiscal 2022
    “Looking back on fiscal 2023, we are pleased with our revenue growth, margin improvements, and the continued strength of all of our businesses" said Jeff Gendell, Chairman and Chief Executive Officer.
  • The segment's operating income increased to $51.5 million for fiscal 2023, compared with $22.1 million for fiscal 2022, as we benefited from improved project execution.
  • Results for fiscal 2023 included a $13.0 million pretax gain from the sale of our former STR Mechanical business in the first quarter of fiscal 2023.

IES Holdings Promotes Matthew Simmes to President and Chief Operating Officer

Retrieved on: 
Thursday, December 7, 2023
Partnership, IESC, IES, Management

HOUSTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced the promotion of Matthew Simmes to the position of President and Chief Operating Officer of the Company.

Key Points: 
  • HOUSTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced the promotion of Matthew Simmes to the position of President and Chief Operating Officer of the Company.
  • Mr. Simmes, who was appointed as Chief Operating Officer of IES in December 2021, will continue to manage the operations of all four of the Company’s operating segments, reporting directly to Jeff Gendell, the Company's Chairman and Chief Executive Officer.
  • Mr. Simmes has spent 30 years at IES in a variety of increasingly senior roles and, prior to being named Chief Operating Officer, served as President of the Company’s Communications segment from 2017 to 2021.
  • “Matt’s promotion reflects his leadership, vision and contributions to IES during a critical period in the Company’s evolution,” said Mr. Gendell.

Petrofac Limited: Trading Update

Retrieved on: 
Wednesday, December 20, 2023
EBITDA, EBIT, IES, Framework agreement, TenneT, E&C, Risk, Framework, Growth, Pharmaceutical industry, Bank, Insurance, Oil, Airline, Fine chemical, Cryptocurrency, Rare-earth element

Petrofac issues the following pre-close trading update for the year ending 31 December 2023.

Key Points: 
  • Petrofac issues the following pre-close trading update for the year ending 31 December 2023.
  • Asset Solutions and IES underlying performance in line with guidance, before a one-off bad debt provision in Asset Solutions of approximately US$12 million.
  • Good progress in reaching contractual settlements in the second half, with approximately US$180 million collected year-to-date.
  • A project and commercial update will be provided with the publication of the Group’s full year results in 2024.