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IESC-News
IESC-Events
IES Holdings Shares Drop 10.2% to $307
IES Holdings is down -10.2%, or -$34.84 to $307.00.
IES Holdings to Acquire DBM Global for $650M
IES Holdings (IESC) announced that it has entered into a definitive agreement to acquire DBM Global from INNOVATE (VATE). The consideration for DBM Global, including minority interests, is approximately $650M, comprised of cash and shares of IES common stock. IES expects to fund the cash portion of the consideration through a combination of cash on hand and borrowings under an expanded credit facility being arranged by Wells Fargo. DBM Global generated revenue of approximately $1.3B for the twelve months ended March 31. Pursuant to the definitive agreement, IES will first acquire INNOVATE's approximately 91.2% interest in DBM Global. Immediately following that closing, IES will acquire the remaining minority interests in DBM Global via a short form merger. Total consideration payable is approximately $685M, comprised of approximately $545M in cash and approximately $140M in shares of IES common stock, with the cash consideration including a $35M payment to INNOVATE in respect of the estimated cost to INNOVATE to participate in a joint election under Section 338 of the Internal Revenue Code.
IES Holdings Stock Rises 31.9% to $754.06
IES Holdings is up 31.9%, or $182.52 to $754.06.
Board Approves 2-for-1 Stock Split
On July 29, 2026, the board of Directors approved a two-for-one split of our common stock, to be paid in the form of a stock dividend. Each shareholder of record as of the close of trading on August 14, 2026 will receive, after the close of trading on August 21, 2026, one additional share for every share held on the record date.
Company Reports Q3 Revenue Up 40% to $1.243B
Reports Q3 revenue $1.243B vs $890M last year. "For the third quarter of fiscal 2026, we delivered a 40% increase in revenue and a 60% increase in operating income compared with the third quarter of fiscal 2025," said Matt Simmes, President and Chief Executive Officer. "The disciplined capital allocation strategy we've deployed to strategically expand our operations over the past several years has positioned us to grow revenue and improve margins in today's environment, where our customers' scheduling needs have become increasingly dynamic."
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