10-Q Filing

IES HOLDINGS, INC. CIK: 1048268 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001193125-19-028329`
Period End Date	20181231
Filing Date	20190205
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	iesc-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 36 Cash Flow Statement 66 Stockholders Equity 5

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Trade, allowance	`AllowanceForDoubtfulAccountsReceivable`	$868.00K	USD	Point-in-time
Trade, allowance	`AllowanceForDoubtfulAccountsReceivable`	$870.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.58M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.25M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade, net of allowance	`AccountsReceivableNetCurrent`	$151.58M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade, net of allowance	`AccountsReceivableNetCurrent`	$161.29M	USD	Point-in-time
Retainage	`ContractReceivableRetainage`	$24.31M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Retainage	`ContractReceivableRetainage`	$22.57M	USD	Point-in-time
Inventories	`InventoryNet`	$20.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$23.88M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$24.43M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$31.45M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.05M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$262.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$265.78M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.29M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.21M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.36M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	763,426.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.13M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	843,993.00	shares	Point-in-time
Goodwill	`Goodwill`	$50.70M	USD	Point-in-time
Goodwill	`Goodwill`	$50.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$29.55M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$30.59M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$45.02M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$46.58M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.96M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$6.07M	USD	Point-in-time
Total assets	`Assets`	$380.67M	USD	Point-in-time
Total assets	`Assets`	$421.99M	USD	Point-in-time
Total assets	`Assets`	$423.14M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$130.59M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$125.88M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCost`	$35.30M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCost`	$33.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$164.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$161.18M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$29.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$29.56M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$3.80M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$198.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$194.57M	USD	Point-in-time
Noncontrolling interest	`MembersEquityAttributableToNoncontrollingInterest`	$3.23M	USD	Point-in-time
Noncontrolling interest	`MembersEquityAttributableToNoncontrollingInterest`	$3.33M	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized	`CommonStockValue`	$220.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized	`CommonStockValue`	$220.00K	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$8.94M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$8.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$196.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$194.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$220.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$225.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$423.14M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$421.99M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$243.84M	USD	1 Quarter
Revenues	`Revenues`	$198.30M	USD	1 Quarter
Cost of services	`CostOfGoodsAndServicesSold`	$202.24M	USD	1 Quarter
Cost of services	`CostOfGoodsAndServicesSold`	$165.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$30.09M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$32.09M	USD	1 Quarter
Contingent consideration	`BusinessCombinationIntegrationRelatedCosts`	-	USD	1 Quarter
Contingent consideration	`BusinessCombinationIntegrationRelatedCosts`	$34.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$14.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$3.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.48M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.99M	USD	1 Quarter
Interest expense	`InterestExpense`	$547.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$441.00K	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$-47.00K	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$98.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.89M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.65M	USD	1 Quarter
Provision (Benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.91M	USD	1 Quarter
Provision (Benefit) for income taxes	`IncomeTaxExpenseBenefit`	$32.16M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$6.98M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-29.51M	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$56.00K	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$99.00K	USD	1 Quarter
Comprehensive income (loss) attributable to IES Holdings, Inc.	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Comprehensive income (loss) attributable to IES Holdings, Inc.	`NetIncomeLoss`	$-29.57M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.39	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.39	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.23M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.26M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$6.98M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-29.51M	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$38.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-3.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$70.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$77.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.37M	USD	1 Quarter
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$14.00K	USD	1 Quarter
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$3.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$32.16M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.91M	USD	1 Quarter
Non-cash compensation	`RestrictedStockExpense`	$364.00K	USD	1 Quarter
Non-cash compensation	`RestrictedStockExpense`	$49.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.75M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.72M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$80.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.92M	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$474.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-7.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$389.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.01M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.45M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$69.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.55M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-12.73M	USD	1 Quarter
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-2.51M	USD	1 Quarter
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.48M	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-603.00K	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$242.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.99M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.36M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.09M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.20M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$17.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Cash paid for acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$175.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.08M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$24.00K	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$93.00K	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebt`	$61.00K	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebt`	$101.00K	USD	1 Quarter
Distribution to noncontrolling interest	`PaymentsToMinorityShareholders`	-	USD	1 Quarter
Distribution to noncontrolling interest	`PaymentsToMinorityShareholders`	-	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Options exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$2.21M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.22M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.00K	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.67M	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.60M	USD	1 Quarter
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.89M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.29M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.58M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.25M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.89M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.29M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.58M	USD	Point-in-time
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.25M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$524.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$392.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$15.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$92.00K	USD	1 Quarter

Stockholders Equity 5 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$220.41M	USD	Point-in-time
Acquisition of Treasury Stock Shares	`TreasuryStockSharesAcquired`	212,688.00	shares	1 Quarter
Net income (loss) attributable to IES Holdings, Inc.	`NetIncomeLoss`	$6.88M	USD	1 Quarter
Net income (loss) attributable to IES Holdings, Inc.	`NetIncomeLoss`	$-29.57M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$220.41M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.