Buy Or Sell Opportunity • May 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to US$697. The fair value is estimated to be US$576, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 53%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Price Target Changed • May 21
Price target increased by 53% to US$700 Up from US$458, the current price target is provided by 1 analyst. New target price is 6.7% above last closing price of US$656. Stock is up 167% over the past year. The company is forecast to post earnings per share of US$19.69 for next year compared to US$15.22 last year. Live News • May 16
IES Holdings Executives Sell Over US$15 Million as Shares Near Annual Highs Senior leaders at IES Holdings sold more than US$15m of stock in May 2026, with transactions occurring as the shares traded near 52-week highs following strong fiscal Q2 results.
Executive Chairman Jeffrey L. Gendell sold over 100,000 shares across multiple trades but continues to hold more than 10.5 million shares.
Director Todd M. Cleveland and CFO Tracy McLauchlin also executed multi-million dollar sales, and all key directors were re-elected while the company’s auditor was ratified at the 2026 Annual Stockholders Meeting.
The combination of sizable insider sales and continued large residual holdings suggests these moves may reflect portfolio diversification or liquidity decisions rather than a wholesale reduction in confidence.
Investors may want to weigh the strong Q2 backdrop and growing backlog against the cautious commentary on near-term earnings related to the Gulf Island acquisition and the recent share price run-up. Announcement • Apr 28
IES Holdings, Inc. to Report Q2, 2026 Results on May 01, 2026 IES Holdings, Inc. announced that they will report Q2, 2026 results at 9:30 AM, US Eastern Standard Time on May 01, 2026 Announcement • Jan 27
IES Holdings, Inc. to Report Q1, 2026 Results on Jan 30, 2026 IES Holdings, Inc. announced that they will report Q1, 2026 results Pre-Market on Jan 30, 2026 Announcement • Jan 17
IES Holdings, Inc. (NasdaqGM:IESC) completed the acquisition of remaining 96.5% stake of Gulf Island Fabrication, Inc. (NasdaqGS:GIFI). IES Holdings, Inc. (NasdaqGM:IESC) entered into a definitive agreement to acquire the remaining 96.5% stake of Gulf Island Fabrication, Inc. (NasdaqGS:GIFI) for approximately $190 million on November 7, 2025. Under the terms of the agreement, IES Holdings will pay $12 in cash per Gulf Island share, or an aggregate equity value of approximately $192 million. The Company is required to pay IES a termination fee of approximately $7.6 million (the “Termination Fee”) in cash upon termination of the Merger Agreement under specified circumstances
The transaction has been approved by the boards of directors of both companies and is currently expected to close in the quarter ending March 31, 2026, subject to Gulf Island shareholder approval, regulatory approvals (including clearance under the Hart-Scott-Rodino Antitrust Improvements Act) and other customary closing conditions. Certain holders of approximately 20% of Gulf Island’s outstanding shares of common stock have entered into voting agreements to support the transaction, and IES, which owns approximately 3.5% of Gulf Island’s outstanding shares of common stock, has also agreed to vote in favor of the transaction. As of January 13, 2026 Gulf Island’s shareholders approved the acquisition.
Brian P. Fenske and Thomas Verity of Fulbright & Jaworski, LLP acted as legal advisor for IES Holdings, Inc. Curtis R. Hearn, Alexandra C. Layfield, and Thomas D. Kimball of Jones Walker LLP acted as legal advisor for Gulf Island Fabrication, Inc.
IES Holdings, Inc. (NasdaqGM:IESC) completed the acquisition of remaining 96.5% stake of Gulf Island Fabrication, Inc. (NasdaqGS:GIFI) on January 16, 2026. Announcement • Jan 08
IES Holdings, Inc., Annual General Meeting, Feb 19, 2026 IES Holdings, Inc., Annual General Meeting, Feb 19, 2026. Announcement • Nov 14
IES Holdings, Inc. to Report Q4, 2025 Results on Nov 21, 2025 IES Holdings, Inc. announced that they will report Q4, 2025 results Pre-Market on Nov 21, 2025 Announcement • Nov 07
IES Holdings, Inc. (NasdaqGM:IESC) entered into a definitive agreement to acquire the remaining 96.5% stake of Gulf Island Fabrication, Inc. (NasdaqGS:GIFI) for approximately $190 million. IES Holdings, Inc. (NasdaqGM:IESC) entered into a definitive agreement to acquire the remaining 96.5% stake of Gulf Island Fabrication, Inc. (NasdaqGS:GIFI) for approximately $190 million on November 7, 2025. Under the terms of the agreement, IES will pay $12 in cash per Gulf Island share, or an aggregate equity value of approximately $192 million. The transaction has been approved by the boards of directors of both companies and is currently expected to close in the quarter ending March 31, 2026, subject to Gulf Island shareholder approval, regulatory approvals (including clearance under the Hart-Scott-Rodino Antitrust Improvements Act) and other customary closing conditions. Certain holders of approximately 20% of Gulf Island’s outstanding shares of common stock have entered into voting agreements to support the transaction, and IES, which owns approximately 3.5% of Gulf Island’s outstanding shares of common stock, has also agreed to vote in favor of the transaction. Announcement • Jul 29
IES Holdings, Inc. to Report Q3, 2025 Results on Aug 01, 2025 IES Holdings, Inc. announced that they will report Q3, 2025 results Pre-Market on Aug 01, 2025 Announcement • Apr 29
IES Holdings, Inc. to Report Q2, 2025 Results on May 02, 2025 IES Holdings, Inc. announced that they will report Q2, 2025 results at 9:30 AM, US Eastern Standard Time on May 02, 2025 Announcement • Jan 30
IES Holdings, Inc. to Report Q1, 2025 Results on Feb 04, 2025 IES Holdings, Inc. announced that they will report Q1, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 04, 2025 Announcement • Jan 16
Stellex Capital Management LLC acquired ICS Holdings LLC from IES Holdings, Inc. (NasdaqGM:IESC). Stellex Capital Management LLC acquired ICS Holdings LLC from IES Holdings, Inc. (NasdaqGM:IESC) on January 15, 2025. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for Stellex Capital Management LLC. Houlihan Lokey, Inc. acted as financial advisor for ICS Holdings LLC.
Stellex Capital Management LLC completed the acquisition of ICS Holdings LLC from IES Holdings, Inc. (NasdaqGM:IESC) on January 15, 2025. Announcement • Jan 09
IES Holdings, Inc., Annual General Meeting, Feb 20, 2025 IES Holdings, Inc., Annual General Meeting, Feb 20, 2025. Announcement • Nov 19
IES Holdings, Inc. to Report Q4, 2024 Results on Nov 22, 2024 IES Holdings, Inc. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Nov 22, 2024 Announcement • Sep 26
IES Holdings, Inc. Appoints John Louis Fouts to its Board of Directors IES Holdings, Inc. announced the appointment of John Louis Fouts to its Board of Directors, effective September 23, 2024. Mr. Fouts has served as the managing member at Fouts Family Investments, since 2021. He also currently serves as a Trustee of the Georgia Tech Foundation and is the Chairman of its Investments Committee. From 2002 to 2021 he was a partner with Water Street Capital, Inc. From 2000 to 2001 he served as the CEO of e-dr.com and from 1998 to 2000 he was an associate with the investment firm Caxton Corporation. Prior to joining Caxton, Mr. Fouts was a consultant at Boston Consulting Group. Mr. Fouts graduated from the Georgia Institute of Technology with a B.S. in Industrial Engineering and received an M.B.A. from Harvard Business School. Announcement • Aug 02
IES Holdings, Inc. (NasdaqGM:IESC) announces an Equity Buyback for $200 million worth of its shares. IES Holdings, Inc. (NasdaqGM:IESC) announces a share repurchase program. Under the program, the company will repurchase up to $200 million worth of its shares. Announcement • Jul 30
IES Holdings, Inc. to Report Q3, 2024 Results on Aug 02, 2024 IES Holdings, Inc. announced that they will report Q3, 2024 results at 9:30 AM, US Eastern Standard Time on Aug 02, 2024 Recent Insider Transactions • May 15
President & COO recently sold US$2.4m worth of stock On the 7th of May, Matthew Simmes sold around 14k shares on-market at roughly US$171 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.2m. Matthew has been a net seller over the last 12 months, reducing personal holdings by US$2.9m. Recent Insider Transactions Derivative • May 09
President & COO notifies of intention to sell stock Matthew Simmes intends to sell 14k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of May. If the sale is conducted around the recent share price of US$171, it would amount to US$2.4m. Since June 2023, Matthew's direct individual holding has increased from 11.01k shares to 87.11k. Company insiders have collectively sold US$6.3m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 03
Second quarter 2024 earnings released: EPS: US$2.62 (vs US$0.93 in 2Q 2023) Second quarter 2024 results: EPS: US$2.62 (up from US$0.93 in 2Q 2023). Revenue: US$705.7m (up 24% from 2Q 2023). Net income: US$52.9m (up 182% from 2Q 2023). Profit margin: 7.5% (up from 3.3% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 01
IES Holdings, Inc. to Report Q2, 2024 Results on May 03, 2024 IES Holdings, Inc. announced that they will report Q2, 2024 results at 9:30 AM, US Eastern Standard Time on May 03, 2024 Recent Insider Transactions • Mar 10
Independent Director recently sold US$3.2m worth of stock On the 7th of March, Todd Cleveland sold around 28k shares on-market at roughly US$115 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$5.9m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Mar 09
Independent Director notifies of intention to sell stock Todd Cleveland intends to sell 30k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of March. If the sale is conducted around the recent share price of US$113, it would amount to US$3.4m. Since June 2023, Todd's direct individual holding has decreased from 144.65k shares to 128.35k. Company insiders have collectively sold US$2.1m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 03
First quarter 2024 earnings released: EPS: US$2.03 (vs US$1.15 in 1Q 2023) First quarter 2024 results: EPS: US$2.03 (up from US$1.15 in 1Q 2023). Revenue: US$634.4m (up 10% from 1Q 2023). Net income: US$41.0m (up 76% from 1Q 2023). Profit margin: 6.5% (up from 4.1% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Announcement • Jan 30
IES Holdings, Inc. to Report Q1, 2024 Results on Feb 02, 2024 IES Holdings, Inc. announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on Feb 02, 2024 Announcement • Jan 10
IES Holdings, Inc., Annual General Meeting, Feb 22, 2024 IES Holdings, Inc., Annual General Meeting, Feb 22, 2024, at 10:00 Central Standard Time. Agenda: To elect six directors named in the accompanying proxy statement to the Company's Board of Directors to serve until the 2025 annual stockholders' meeting and until their respective successors have been elected and qualified; to ratify the appointment of Ernst & Young LLP, independent auditors, as the Company's auditors for fiscal year 2024; to approve by advisory vote the compensation of the Company's named executive officers; and to transact such other business as may properly come before the meeting or any adjournments thereof. Recent Insider Transactions • Dec 15
Independent Director recently sold US$844k worth of stock On the 11th of December, Todd Cleveland sold around 10k shares on-market at roughly US$83.12 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.4m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Dec 13
Independent Director notifies of intention to sell stock Todd Cleveland intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of December. If the sale is conducted around the recent share price of US$83.00, it would amount to US$1.7m. Since December 2022, Todd has owned 144.65k shares directly. Company insiders have collectively sold US$597k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Dec 07
Full year 2023 earnings released: EPS: US$5.36 (vs US$1.45 in FY 2022) Full year 2023 results: EPS: US$5.36 (up from US$1.45 in FY 2022). Revenue: US$2.38b (up 9.7% from FY 2022). Net income: US$108.3m (up 260% from FY 2022). Profit margin: 4.6% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 19% per year. Announcement • Dec 07
IES Holdings, Inc. Promotes Matthew Simmes to President and Chief Operating Officer IES Holdings, Inc. 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. Announcement • Dec 05
IES Holdings, Inc. to Report Q4, 2023 Results on Dec 07, 2023 IES Holdings, Inc. announced that they will report Q4, 2023 results Pre-Market on Dec 07, 2023 Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$69.78, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 21x in the Construction industry in the US. Total returns to shareholders of 135% over the past three years. Reported Earnings • Aug 04
Third quarter 2023 earnings released: EPS: US$1.12 (vs US$0.33 in 3Q 2022) Third quarter 2023 results: EPS: US$1.12 (up from US$0.33 in 3Q 2022). Revenue: US$584.5m (up 3.0% from 3Q 2022). Net income: US$22.5m (up 226% from 3Q 2022). Profit margin: 3.9% (up from 1.2% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 04
Third quarter 2023 earnings released: EPS: US$1.12 (vs US$0.33 in 3Q 2022) Third quarter 2023 results: EPS: US$1.12 (up from US$0.33 in 3Q 2022). Revenue: US$584.5m (up 3.0% from 3Q 2022). Net income: US$22.5m (up 226% from 3Q 2022). Profit margin: 3.9% (up from 1.2% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 11
Insider recently sold US$484k worth of stock On the 8th of June, Alison Petersen sold around 9k shares on-market at roughly US$52.51 per share. This transaction amounted to 73% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$274k more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 18
Senior VP notifies of intention to sell stock Tracy McLauchlin intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of May. If the sale is conducted around the recent share price of US$47.43, it would amount to US$949k. Since December 2022, Tracy has owned 83.30k shares directly. Company insiders have collectively bought US$184k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • May 11
Second quarter 2023 earnings released: EPS: US$1.21 (vs US$0.30 loss in 2Q 2022) Second quarter 2023 results: EPS: US$1.21 (up from US$0.30 loss in 2Q 2022). Revenue: US$568.9m (up 13% from 2Q 2022). Net income: US$24.4m (up US$30.7m from 2Q 2022). Profit margin: 4.3% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 04
IES Holdings, Inc. to Report Q2, 2023 Results on May 10, 2023 IES Holdings, Inc. announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on May 10, 2023 Reported Earnings • Feb 05
First quarter 2023 earnings released: EPS: US$1.15 (vs US$0.69 in 1Q 2022) First quarter 2023 results: EPS: US$1.15 (up from US$0.69 in 1Q 2022). Revenue: US$574.9m (up 20% from 1Q 2022). Net income: US$23.3m (up 62% from 1Q 2022). Profit margin: 4.1% (up from 3.0% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 31
IES Holdings, Inc. to Report Q1, 2023 Results on Feb 03, 2023 IES Holdings, Inc. announced that they will report Q1, 2023 results at 9:30 AM, US Eastern Standard Time on Feb 03, 2023 Announcement • Jan 10
IES Holdings, Inc., Annual General Meeting, Feb 23, 2023 IES Holdings, Inc., Annual General Meeting, Feb 23, 2023, at 10:00 Central Standard Time. Agenda: To consider and approve the election of six directors; to consider and approve the ratification of Ernst & Young LLP as the Company’s independent auditors for fiscal year 2023; to approve by advisory vote the compensation of the Company's named executive officers; to approve by advisory vote the frequency of the stockholders' advisory vote on the compensation of the Company's named executive officers; and to consider other matters. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 21% share price gain to US$34.26, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 23x in the Construction industry in the US. Total returns to shareholders of 32% over the past three years. Recent Insider Transactions • Dec 22
Director recently bought US$146k worth of stock On the 16th of December, David Gendell bought around 5k shares on-market at roughly US$29.19 per share. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$299k more in shares than they have sold in the last 12 months. Reported Earnings • Dec 08
Full year 2022 earnings released: EPS: US$1.45 (vs US$3.19 in FY 2021) Full year 2022 results: EPS: US$1.45 (down from US$3.19 in FY 2021). Revenue: US$2.17b (up 41% from FY 2021). Net income: US$30.0m (down 55% from FY 2021). Profit margin: 1.4% (down from 4.3% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 05
Third quarter 2022 earnings released: EPS: US$0.33 (vs US$0.93 in 3Q 2021) Third quarter 2022 results: EPS: US$0.33 (down from US$0.93 in 3Q 2021). Revenue: US$567.3m (up 40% from 3Q 2021). Net income: US$6.93m (down 64% from 3Q 2021). Profit margin: 1.2% (down from 4.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • May 01
Second quarter 2022 earnings released: US$0.30 loss per share (vs US$0.59 profit in 2Q 2021) Second quarter 2022 results: US$0.30 loss per share (down from US$0.59 profit in 2Q 2021). Revenue: US$501.6m (up 51% from 2Q 2021). Net loss: US$6.28m (down 152% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to US$41.73, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 26x in the Construction industry in the US. Total returns to shareholders of 125% over the past three years. Reported Earnings • Feb 04
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: US$0.70 (up from US$0.58 in 1Q 2021). Revenue: US$480.5m (up 53% from 1Q 2021). Net income: US$14.5m (up 20% from 1Q 2021). Profit margin: 3.0% (down from 3.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 36% per year and the company’s share price has also increased by 36% per year. Board Change • Jan 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Todd Cleveland was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.21 (up from US$1.96 in FY 2020). Revenue: US$1.54b (up 29% from FY 2020). Net income: US$66.7m (up 63% from FY 2020). Profit margin: 4.3% (up from 3.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.