IES | Jotup

IES Holdings Reports Fiscal 2024 Second Quarter Results

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星期五, 五月 3, 2024

Sale, Investment, Commercial, IESC, Security (finance), Tax, Acquisition, IES, Communication, HVAC, GAAP, Growth, Video game

Revenue of $706 million for the second quarter of fiscal 2024, an increase of 24% compared with $569 million for the same quarter of fiscal 2023

Key Points:

Revenue of $706 million for the second quarter of fiscal 2024, an increase of 24% compared with $569 million for the same quarter of fiscal 2023
Operating income of $77.7 million for the second quarter of fiscal 2024, an increase of 146% compared with $31.6 million for the same quarter of fiscal 2023
Net income attributable to IES of $52.9 million for the second quarter of fiscal 2024, an increase of 146% compared with $21.6 million for the same quarter of fiscal 2023, and diluted earnings per share attributable to common stockholders of $2.29 for the second quarter of fiscal 2024, compared with $0.92 for the same quarter of fiscal 2023
Adjusted net income attributable to IES (a non-GAAP financial measure, as defined below) of $52.9 million for the second quarter of fiscal 2024, an increase of 115% compared with $24.6 million for the same quarter of fiscal 2023, and diluted adjusted earnings per share attributable to common stockholders of $2.29 for the second quarter of fiscal 2024, compared with $1.07 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 March 31, 2024
Backlog (a non-GAAP financial measure, as defined below) of approximately $1.4 billion as of March 31, 2024
Subsequent to quarter end, completed the acquisition of Greiner Industries, expanding the product offerings, capacity and geographic reach of our Infrastructure Solutions business
“We are pleased with our financial performance in the second quarter of fiscal 2024 as the investments we have made to support the organic growth of our businesses positioned us to take advantage of continued strength across our end markets," said Jeff Gendell, Chairman and Chief Executive Officer.
Our Communications segment’s revenue was $193.6 million in the second quarter of fiscal 2024, an increase of 37% compared with the second quarter of fiscal 2023.
Operating income for the second quarter of fiscal 2024 was $16.1 million, compared with $8.2 million for the second quarter of fiscal 2023.
Our Commercial & Industrial segment’s revenue was $97.0 million in the second quarter of fiscal 2024, an increase of 41% compared with $69.0 million in the second quarter of fiscal 2023, while segment operating income for the second quarter of fiscal 2024 was $11.7 million, compared with $0.4 million for the second quarter of fiscal 2023.

Most Schools Report Some Concern About Students Meeting Academic Standards and Issues Related to Staffing Shortages

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星期二, 四月 16, 2024

Institute of Education Sciences, Education sciences, Student, Mental health, NCES, IES, Education, Nursing

WASHINGTON, April 16, 2024 /PRNewswire/ -- Most public school leaders, 92 percent, indicated at least some level of concern about their students meeting academic standards, 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). In addition, 80 percent of school leaders reported some level of concern about issues related to staffing shortages, such as increased class sizes or staff doing work outside of their intended duties.

Key Points:

In addition, 80 percent of school leaders reported some level of concern about issues related to staffing shortages, such as increased class sizes or staff doing work outside of their intended duties.
"What they are telling us through this latest School Pulse Panel survey is that the majority of them have some level of concern related to important issues that we asked them about, with most (92 percent) saying they were concerned about students meeting academic standards and 8 in 10 saying they were concerned about issues related to staffing shortages.
Also, about 4 in 10 reported they are moderately or extremely concerned about students' mental health, as well as the mental health of teachers and staff.
It's a Herculean task to manage all these challenges, and we hope that understanding what school leaders are facing will identify essential areas of support."

Dominant currency pricing in international trade of services

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星期四, 四月 25, 2024

SF1, Goldberg, LCP, Statistics, Research Papers in Economics, VCP, Place of birth, Postal, A.4, Journal of International Economics, Business, International, ISIC, Data collection, Heritage, Macroeconomics, Banco de Portugal, Computer, Tech, Prevalence, MCI, Agriculture, Audiovisual, European Economic Association, CNY, Journal of Monetary Economics, Pauwels, Insurance, Paper, Corsetti, Laurent, Environment, R2, Portuguese Economic Journal, Website, Table, Working paper, VB, Public opinion, World Bank, Collection, Travel, Transport, Science, PII, International economics, PDF, ECB, Foreign exchange market, Policy, Angelo Bacchetta, Social science, Labour economics, Communication, Journal, Research, Classification, A.5, Literature, DCP, European Central Bank, Mining, Export, Equation, Monetary economics, Section 5, Practice of law, Elasticity, ISO, COVID-19, BIS, Electricity, Automation, The Economic Journal, Chung, Employment, A.2, Telecommunications, International Monetary Fund, Tourism, UTC+01:00, Section 4, IUSD, Health care, F14, Database, Section 3, PCP, International finance, NIPE, Annual report, Note, Section 2, Conference, CPI, Central bank, SH42, Incidence, FE, American Economic Review, SF3, Exercise, Test, Justice, Forestry, SK22, Quarterly Journal, GDP, Central Statistics Office (India), Green, SG1, B.1, SF, Swings, Payment, IES, A.6, JPY, Colum, Bank, Reproduction, World Trade Organization, IMF, SF2, F31, Geography, Data, SF4, Cryptocurrency

Abstract

Key Points:

Abstract
We analyze, for the first time, how firms choose the currency in which they price transactions
in international trade of services and investigate, using direct evidence, whether the US dollar
(USD) plays a dominant role in services trade.
JEL: F14, F31, F41
Keywords: dominant currency paradigm, international trade, services.
Related research has
shown that the US dollar (USD) exchange rate is a major source of swings in
global trade in goods?a ?dominant currency pricing? (DCP) phenomenon?since
most goods traded internationally are invoiced and sticky in USD.
Yet it is also key to look at dominant currency pricing in international trade
in services for several reasons.
First, global trade in services is big?accounting for
about a quarter of global gross trade flows and for around 40% in terms of valueadded trade.
Third, and relatedly, the
future of globalisation might be in trade in intermediate services?as progress with
digitech lowers technological barriers to such trade across borders.
But perhaps the main reason is that trade in services is conceptually different
from trade in goods.
Our paper is the first, to our best knowledge, that analyzes how firms choose
the currency in which they price transactions in international trade of services and
that examines whether dominant currency pricing differs between trade in goods
and services using direct evidence? hitherto unavailable?on patterns of currency
choices in international transactions in services compared to goods.
Work on dominant currency pricing has
almost exclusively focused on trade in goods.
One reason is that data on patterns
in invoicing currency for trade in services are ?virtually nonexistent? (Adler et al.
Yet it is important to look at dominant currency pricing in international trade
in services for several reasons.
Using the exporter?s (or producer) currency in exports is known in the literature as producer
currency pricing (PCP), while using the importer?s currency is known as local currency pricing (LCP)
and using a third currency is known as vehicle currency pricing (VCP).
Our paper is the first, to our best knowledge, that analyzes how firms choose the
currency in which they price transactions in international trade of services and that
examines whether dominant currency pricing differs between international trade in
goods and services using direct evidence ? hitherto unavailable ? on patterns of
currency choices in international transactions in services compared to goods.
First,
we rule out compositional effects, that is that differences in the use of currencies
reflect differences in trade partners in services vs. goods trade.
Both in extra-EU and intra-EU trade, the EUR is the
most widely used currency, be it on the export or import side.
Based
on the framework, we stress which factors should determine currency choices in
international trade, and to what extent one should expect differences between
services trade and goods trade.
Second, it can price in the importer?s currency
(local currency pricing, LCP).4 Third, it can use a third currency, say currency
v (vehicle currency pricing, VCP).
That is,
the currency choice problem is equivalent to determining the currency in which the
desired price is least volatile.
(2022)
provide systematic empirical evidence ? firm size and exposure to foreign currencies
in imported inputs ? should also shape currency choices in services trade.
Dominant currency pricing in USD ? services vs. goods trade
Having established that currency choice in international trade of services is an
active firm-level decision as well as the determinants of this decision, we now
8.
Services and goods exports: prevalence of different pricing strategies (percent)
Notes: The table shows the shares (in value terms) of different pricing strategies: producer currency
pricing (PCP), local currency pricing (LCP) and vehicle currency pricing (VCP).
To make comparisons with goods trade, we rely on Eurostat?s
macro data on international trade in goods by invoivcing currency.
If intra-EU trade is more important in services than
in goods trade, this could hence be an explanation for the lower prevalence of the
USD in services trade.
We showed
that while the USD is also extensively used as a vehicle currency in services trade, its
prevalence is systematically lower than in goods trade.
Hence for all travel services exports
the invoicing currency is the EUR; for travel imports it is the currency of the
destination of travel (i.e.
Also for these
ECB Working Paper Series No 2932

33

services it seems plausible that trade does not take place vis-?-vis all counterparts
in each currency.
Figure B.2: Share of international trade in services in global GDP broken down by type (%)
Notes: Authors? calculations using World Bank and World Trade Organization data.
An earlier version of this paper circulated under the title ?Currency choices and the role of the
U.S. dollar in international services trade?.

IES Holdings Acquires Greiner Industries

Retrieved on:

星期一, 四月 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

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星期二, 三月 19, 2024

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:

星期二, 二月 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

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星期四, 二月 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:

星期五, 二月 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:

星期三, 一月 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

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星期一, 十二月 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.