Integrated Electrical Services Reports Strong Q1 Earnings
Houston-based Integrated Electrical Services Inc. (IESC) announced a net income of $55.2 million in its fiscal first quarter. On a per-share basis, the company reported earnings of $2.72. Adjusted for non-recurring gains, earnings came in at $2.64 per share.
During the quarter, IESC recorded revenue of $749.5 million. The communications and technology company's financial results were driven by strong demand for its services in the industrial and commercial sectors.
"We are pleased with our first-quarter performance, which reflects the continued execution of our strategic initiatives and the resilience of our business model," said IESC CEO Mark Wallace. "We remain confident in our ability to capitalize on growth opportunities and deliver value to our stakeholders."