Filing Flows › IES Holdings (IESC) › Q2 FY26
IES Holdings (IESC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 1, 2026
IES Holdings (IESC) reported revenue of $974M for the second quarter fiscal 2026 (Q2 FY26), +17% from a year earlier and +12% from the quarter before. Operating margin was 11.5%, net earnings $110M (11.3% of revenue).
IES Holdings, Q2 FY26: revenue $974M (+17% year over year), operating margin 11.5%, net earnings $110M, operating cash flow $103M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $974M | +12% | +17% |
| Gross profit | $255M | +16% | +22% |
| Operating profit | $112M | +15% | +21% |
| Net earnings | $110M | +20% | +56% |
| Operating cash flow | $103M | +273% | +316% |
| Free cash flow | $71.5M | — | +805% |
What changed
Revenue was $974.3M in Q2 FY26, up 17% year over year and up 12% from the previous quarter. Communications was the largest line at 38% of revenue. Communications added $94.7M year over year (up 35%), 67% of the total change. Residential declined 10%.
Gross margin was 26.2%, up 1.1 points from Q2 FY25. Operating profit was $112.3M, a 11.5% margin (up 0.4 points year over year). Of the extra revenue versus Q2 FY25, 14% reached operating profit, above the 11% margin then. Operating expenses grew 23% against revenue growth of 17%. Net earnings were $109.9M, up 56% year over year. The effective tax rate was 25.8%. Non-operating items added $36.4M, 24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $103.3M (up 316% year over year), 94% of net earnings. Non-cash charges added back $16.1M of depreciation and $3.5M of share-based compensation. Working capital and other items used $26.7M. Capital expenditures of $31.8M left free cash flow of $71.5M.
Questions
What was IES Holdings' revenue in the second quarter fiscal 2026?
IES Holdings (IESC) reported revenue of $974M for the second quarter fiscal 2026 (Q2 FY26), +17% from a year earlier and +12% from the quarter before.
Was IES Holdings profitable in the second quarter fiscal 2026?
Operating profit was $112M (11.5% of revenue) and net earnings $110M.
Source: IES Holdings 10-Q on SEC EDGAR.