IES Holdings Q1 Profit Surges 37%

(RTTNews) - The integrated electrical and technology systems provider IES Holdings, Inc. (IESC), Friday reported a surge in first-quarter earnings, supported by revenue growth, compared to the same period last year.

In pre-market, IES shares are trading up around 2.32 percent.

Quarterly earnings surged 37 percent to $56.3 million from $41.0 million a year ago. On a per share basis, earnings were $2.72, up from $1.87 in the prior year.

On an adjusted basis, earnings were $54.6 million or $2.64 per share compared with $40.9 million or $1.86 in the previous year.

Revenue increased 18 percent to $750 million from $634 million in the prior year. The company said that the Communications segment contributed revenue of $232.9 million and increase of 36 percent from the same period, last year.