Company achieves highest close in 20 years after significant profit and revenue growth
- IES Holdings shares rise to highest close in 20 years
- Profit and revenue jump in 2Q
- Stock up 23% to $168.96
- Net profit of $52.9 million
- Revenue increases by 24%
- Strong performance in Commercial & Industrial segment
Shares of IES Holdings surged to their highest close in 20 years following a substantial increase in profit and revenue during the second quarter. The stock rose by 23% to reach $168.96 in midday trading. IES Holdings reported a net profit of $52.9 million, or $2.29 per share, for the fiscal second quarter ended March 31, compared to $21.6 million, or 92 cents per share, in the same period last year. The company’s revenue also experienced a significant jump of 24% to $705.8 million. This strong performance was driven by larger than expected gains on certain projects, particularly in the Commercial & Industrial segment, as well as favorable impacts from material purchases, according to Finance Chief Tracy McLauchlin.
Factuality Level: 8
Factuality Justification: The article provides factual information about IES Holdings’ stock performance, profit, and revenue in the latest quarter. It does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The information presented is clear and objective, without any bias or personal perspective. Overall, the article is factually accurate and informative.
Noise Level: 2
Noise Justification: The article is focused on reporting the financial performance of IES Holdings, providing relevant information such as profit and revenue figures, reasons for the increase, and a statement from the Finance Chief. It stays on topic, supports its claims with data, and does not contain irrelevant or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: Shares of IES Holdings
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the increase in profit and revenue of IES Holdings. However, there is no mention of any extreme event or its impact.
Public Companies: IES Holdings (IESC)
Key People: Tracy McLauchlin (Finance Chief)
Reported publicly:
www.marketwatch.com 
