Filing Flows › IES Holdings (IESC) › Q3 FY26 › vs Q2 FY26
IES Holdings (IESC) Q3 FY26 vs Q2 FY26 (quarter over quarter)
IES Holdings's revenue rose $268M (+28%) from $974M in Q2 FY26 to $1.2B in Q3 FY26. The biggest changes: Commercial and Industrial +$115M (+91%); Communications +$85.4M (+23%); Residential +$36.5M (+13%). Gross margin 27.4% against 26.2% (+1.3 pts).
IES Holdings, Q3 FY26: revenue $1.2B (+40% year over year), operating margin 14.4%, net earnings $153M, operating cash flow $108M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 27.4% | 26.2% | +1.3 pts |
| Operating margin | 14.4% | 11.5% | +2.8 pts |
| Net margin | 12.3% | 11.3% | +1.0 pts |
| Free cash flow margin | 5.1% | 7.3% | -2.2 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Communications | $453M | $368M | $85.4M | +23% |
| Residential | $324M | $288M | $36.5M | +13% |
| Commercial and Industrial | $241M | $127M | $115M | +91% |
| Infrastructure Solutions | $224M | $192M | $31.7M | +16% |
| Revenue | $1.2B | $974M | $268M | +28% |
| Gross profit | $341M | $255M | $85.9M | +34% |
| Cost of revenue | $902M | $719M | $183M | +25% |
| Other income, net | $26.3M | $36.4M | −$10.1M | -28% |
| Operating profit | $179M | $112M | $66.3M | +59% |
| Operating expenses | $162M | $143M | $19.6M | +14% |
| Pre-tax earnings | $205M | $149M | $56.2M | +38% |
| Net earnings | $153M | $110M | $43.1M | +39% |
| Minority interests | $572K | $403K | $169K | +42% |
| Income tax | $51.3M | $38.3M | $13.0M | +34% |
| Depreciation & amortization | $16.9M | $16.1M | $859K | +5% |
| Share-based compensation | $3.8M | $3.5M | $267K | +8% |
| Working capital & other | $65.3M | $26.3M | $39.0M | +149% |
| Operating cash flow | $108M | $103M | $5.1M | +5% |
| Free cash flow (OCF − capex) | $63.8M | $71.5M | −$7.7M | -11% |
| Capital expenditures | $44.6M | $31.8M | $12.8M | +40% |
Questions
How much did IES Holdings's revenue grow quarter over quarter in Q3 FY26?
IES Holdings's revenue rose $268M (+28%) from $974M in Q2 FY26 to $1.2B in Q3 FY26.
What drove IES Holdings's revenue change in Q3 FY26?
Commercial and Industrial +$115M (+91%); Communications +$85.4M (+23%); Residential +$36.5M (+13%).