0001048268-24-000098 | 10-Q | XBRL Viewer

Revenue Recognition

9 Months Ended

Jun. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

Revenue from External Customers by Products and Services [Table Text Block]

3. REVENUE RECOGNITION

Contracts

Our revenue is derived from contracts with customers, and we determine the appropriate accounting treatment for each contract at its inception. Our contracts primarily relate to electrical and mechanical contracting services, technology infrastructure products and services, and electro-mechanical solutions for industrial operations. Revenue is earned based upon an agreed fixed price or actual costs incurred plus an agreed upon percentage.

We account for a contract when: (i) it has approval and commitment from both parties, (ii) the rights of the parties are identified, (iii) payment terms are identified, (iv) the contract has commercial substance, and (v) collectability of consideration is probable. We consider the start of a project to be when the above criteria have been met and we have written authorization from the customer to proceed.

Performance Obligations

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied.

We recognize revenue over time for the majority of the services we perform, other than the Residential Single-family and Infrastructure Solutions Industrial Services businesses, as (i) control continuously transfers to the customer as work progresses at a project location controlled by the customer and (ii) we have the right to bill the customer as costs are incurred. Within our Infrastructure Solutions Custom Power Solutions business, we often perform work inside our own facilities, where control does not continuously transfer to the customer as work progresses. In such cases, we evaluate whether the work performed creates an asset with alternative use to the Company and whether we have the right to bill the customer as costs are incurred. Such assessment involves an evaluation of contractual termination clauses. Where we are creating an asset with no alternative use and we have a contractual right to payment for work performed to date, we recognize revenue over time. If we do not have such a right, we recognize revenue upon completion of the contract, when control of the work transfers to the customer.

For arrangements where we recognize revenue over time, we use the percentage of completion method of accounting under which revenue recognized is measured principally by the costs incurred and accrued to date for each contract as a percentage of the estimated total cost for each contract at completion. Contract costs include all direct material, labor and indirect costs related to contract performance. Changes in job performance, job conditions, estimated contract costs and profitability and final contract settlements may result in revisions to costs and income, and the effects of these revisions are recognized in the period in which the revisions are determined. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. This measurement and comparison process requires updates to the estimate of total costs to complete the contract, and these updates may include subjective assessments and judgments.

Certain divisions in the Residential and Infrastructure Solutions segments recognize revenue at the completion of the contract ("completed contract") under the right to invoice practical expedient because the duration of their contracts is short in nature. We recognize revenue on completed contracts when the project is complete and billable to the customer.

Variable Consideration

The transaction price for our contracts may include variable consideration, which includes changes to transaction price for approved and unapproved change orders, claims and incentives. Change orders, claims, and incentives are generally not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as a modification of the existing contract. We estimate variable consideration at the probability weighted value we expect to receive (or the most probable amount we expect to incur in the case of liquidated damages, if any), utilizing estimation methods that best predict the amount of consideration to which we will be entitled (or which will be incurred in the case of liquidated damages, if any). We include variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. The effect of variable consideration on the transaction price of a performance obligation is recognized as an adjustment to revenue on a cumulative catch-up basis. To the extent unapproved change orders and claims reflected in transaction price (or accounted for as a reduction of the transaction price in the case of liquidated damages) are not resolved in our favor, or to the extent incentives reflected in transaction price are not earned, there could be reductions in, or reversals of, previously recognized revenue.

Disaggregation of Revenue

We disaggregate our revenue from contracts with customers by activity and contract type, as these categories reflect how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Our consolidated revenue for the three and nine months ended June 30, 2024 and 2023 was derived from the following activities. Certain prior period amounts have been reclassified to conform with the current period presentation, where applicable. See details in the following tables:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023			2024		2023
Communications	$	192,303	$	141,615		$	556,554	$	429,980
Residential
Single-family	285,211		240,799			784,070		711,724
Multi-family and Other	92,325		77,212			248,694		230,477
Total Residential	377,536		318,011			1,032,764		942,201
Infrastructure Solutions
Industrial Services	11,786		11,312			34,960		33,828
Custom Power Solutions	90,236		45,745			205,739		125,129
Total Infrastructure Solutions	102,022		57,057			240,699		158,957
Commercial & Industrial	96,554		67,768			$	278,575	197,068
Total Revenue	$	768,415	$	584,451		$	2,108,592	$	1,728,206


	Three Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	131,536	$	377,536	$	93,138	$	75,540	$	677,750
Time-and-material			60,767		—		8,884		21,014		90,665
Total revenue		$	192,303	$	377,536	$	102,022	$	96,554	$	768,415

	Three Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	98,027	$	318,011	$	55,409	$	56,859	$	528,306
Time-and-material			43,588		—		1,648		10,909		56,145
Total revenue		$	141,615	$	318,011	$	57,057	$	67,768	$	584,451













	Nine Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	397,903	$	1,032,764	$	227,561	$	232,422	$	1,890,650
Time-and-material			158,651		—		13,138		46,153		217,942
Total revenue		$	556,554	$	1,032,764	$	240,699	$	278,575	$	2,108,592

	Nine Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	277,693	$	942,201	$	153,906	$	168,669	$	1,542,469
Time-and-material			152,287		—		5,051		28,399		185,737
Total revenue		$	429,980	$	942,201	$	158,957	$	197,068	$	1,728,206

Accounts Receivable and Allowance for Credit Losses

Accounts receivable include amounts that we have billed or have an unconditional right to bill our customers. As of June 30, 2024, Accounts receivable included $13,677 of unbilled receivables for which we have an unconditional right to bill.

Contract Assets and Liabilities

Project contracts typically provide for a schedule of billings on percentage of completion of specific tasks inherent in the fulfillment of our performance obligation(s). The schedules for such billings usually do not precisely match the schedule on which costs are incurred. As a result, contract revenue recognized in the statement of operations can and usually does differ from amounts that can be billed to the customer at any point during the contract. Amounts by which cumulative contract revenue recognized on a contract as of a given date exceeds cumulative billings and unbilled receivables to the customer under the contract are reflected as a current asset in our Condensed Consolidated Balance Sheets under the caption “Costs and estimated earnings in excess of billings”. Amounts by which cumulative billings to the customer under a contract as of a given date exceed cumulative contract revenue recognized are reflected as a current liability in our Condensed Consolidated Balance Sheets under the caption “Billings in excess of costs and estimated earnings”.

During the nine months ended June 30, 2024 and 2023, we recognized revenue of $96,889 and $78,263 related to our contract liabilities at October 1, 2023 and 2022, respectively.

Remaining Performance Obligations

Remaining performance obligations represent the unrecognized revenue value of our contract commitments. New awards represent the total expected revenue value of new contract commitments undertaken during a given period, as well as additions to the scope of existing contract commitments. Our new performance obligations vary significantly each reporting period based on the timing of our major new contract commitments. At June 30, 2024, we had remaining performance obligations of $1,177,184. The Company expects to recognize revenue on approximately $1,002,742 of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter.

For the three and nine months ended June 30, 2024, net revenue recognized from our performance obligations satisfied in previous periods was not material.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Leases

9 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

12. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease terms generally range from two to ten years for facilities and three to five years for vehicles and equipment. Our lease terms may include the exercise of renewal or termination options when it is reasonably certain these options will be exercised. Our lease agreements do not contain any material residual value guarantees or restrictive covenants.

Current operating and finance lease liabilities of $20,488 and $4,646, respectively, as of June 30, 2024, and $19,496 and $4,301, respectively, as of September 30, 2023, were included in “Accounts payable and accrued expenses” in the Condensed Consolidated Balance Sheets. Non-current finance lease liabilities and finance lease right-of-use assets were included in the “Other non-current liabilities” and “Other non-current assets”, respectively, in the Condensed Consolidated Balance Sheets.

The maturities of our lease liabilities as of June 30, 2024 are as follows:


	Operating Leases		Finance Leases		Total
Remainder of 2024	$	5,650	$	1,204	$	6,854
2025	20,361		4,614		24,975
2026	16,544		3,828		20,372
2027	11,507		2,039		13,546
2028	6,403		301		6,704
Thereafter	5,936		46		5,982
Total undiscounted lease payments	$	66,401	$	12,032	$	78,433
Less: imputed interest	7,198		927		8,125
Present value of lease liabilities	$	59,203	$	11,105	$	70,308

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of June 30, 2024 is $8,704.

Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows:


	Three Months Ended						Nine Months Ended
	June 30, 2024		June 30, 2023				June 30, 2024		June 30, 2023
Operating lease cost	$	5,405	$	4,524	$	0	$	16,819	$	13,857
Finance lease cost
Amortization of lease assets	1,073		865				3,207		2,551
Interest on lease liabilities	206		180				605		546
Finance lease cost	1,279		1,045				3,812		3,097
Short-term lease cost	434		599				1,244		1,701
Variable lease cost	$	1,011	$	812			$	3,092	$	1,886
Total lease cost	$	8,129	$	6,980			$	24,967	$	20,541

Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows:


	Three Months Ended				Nine Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Operating cash flows used for operating leases	$	6,088	$	5,856	$	18,152	$	17,674
Operating cash flows used for finance leases	207		180		605		546
Right-of-use assets obtained in exchange for new operating lease liabilities	5,116		5,119		12,691		14,310
Right-of-use assets obtained in exchange for new finance lease liabilities	284		981		1,268		5,807


	June 30, 2024		September 30, 2023
Weighted-average remaining lease term - operating leases	3.9 years		4.5 years
Weighted-average remaining lease term - finance leases	2.9 years		3.4 years
Weighted-average discount rate - operating leases	5.4	%	5.1	%
Weighted-average discount rate - finance leases	6.3	%	6.0	%

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrued Insurance, Current	$ 11,122	$ 7,726
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	5,606
Revenue, Remaining Performance Obligation, Amount	1,177,184
Estimated cost of completion of bonded projects	141,933
Estimated cost of completion of bonded projects	141,933
Purchase Commitment, Remaining Minimum Amount Committed	0
Insurance Related [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 5,606	$ 4,166

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 44,897	$ 75,770
Accounts receivable	457,559	363,836
Accounts and Other Receivables, Net, Current	90,824	76,934
Inventories	106,855	95,655
Costs and estimated earnings in excess of billings	57,885	48,620
Prepaid expenses and other current assets	30,535	10,481
Total current assets	788,555	671,296
Property and equipment, net	126,719	63,410
Goodwill	94,543	92,395
Intangible assets, net	49,508	56,208
Deferred tax assets	22,528	20,383
Operating right of use assets	58,756	61,761
Other non-current assets	14,727	16,147
Total assets	1,155,336	981,600
Accounts payable and accrued expenses	334,930	296,797
Billings in excess of costs and estimated earnings	139,261	103,771
Total current liabilities	474,191	400,568
Long-term debt	0	0
Operating long-term lease liabilities	38,715	42,098
Liability for Uncertainty in Income Taxes, Noncurrent	23,334	22,047
Other non-current liabilities	12,655	16,951
Total liabilities	548,895	481,664
Noncontrolling interest	38,919	49,951
Preferred stock, value	0	0
Common stock, value	220	220
Treasury stock, value	(71,530)	(49,450)
Additional paid-in capital	203,139	203,431
Retained earnings	435,693	295,784
Total stockholders' equity	567,522	449,985
Total liabilities and stockholders' equity	$ 1,155,336	$ 981,600

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Debt	9 Months Ended
Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	4. DEBT We are a party to the Third Amended and Restated Credit and Security Agreement (the “Amended Credit Agreement”), which provides for a maximum borrowing amount of $150,000 under our revolving credit facility. The Amended Credit Agreement, which matures on September 30, 2026, contains customary affirmative, negative and financial covenants as disclosed in Item 7 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2023. As of June 30, 2024, the Company was in compliance with the financial covenants under the Amended Credit Agreement. At June 30, 2024 and September 30, 2023, we had no outstanding borrowings under our revolving credit facility. At June 30, 2024, we had $5,606 in outstanding letters of credit and total availability of $143,049 under our revolving credit facility without triggering the financial covenants under the Amended Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Revenue Recognition (Tables)

9 Months Ended

Jun. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of Revenue [Table Text Block]

Our consolidated revenue for the three and nine months ended June 30, 2024 and 2023 was derived from the following activities. Certain prior period amounts have been reclassified to conform with the current period presentation, where applicable. See details in the following tables:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023			2024		2023
Communications	$	192,303	$	141,615		$	556,554	$	429,980
Residential
Single-family	285,211		240,799			784,070		711,724
Multi-family and Other	92,325		77,212			248,694		230,477
Total Residential	377,536		318,011			1,032,764		942,201
Infrastructure Solutions
Industrial Services	11,786		11,312			34,960		33,828
Custom Power Solutions	90,236		45,745			205,739		125,129
Total Infrastructure Solutions	102,022		57,057			240,699		158,957
Commercial & Industrial	96,554		67,768			$	278,575	197,068
Total Revenue	$	768,415	$	584,451		$	2,108,592	$	1,728,206


	Three Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	131,536	$	377,536	$	93,138	$	75,540	$	677,750
Time-and-material			60,767		—		8,884		21,014		90,665
Total revenue		$	192,303	$	377,536	$	102,022	$	96,554	$	768,415

	Three Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	98,027	$	318,011	$	55,409	$	56,859	$	528,306
Time-and-material			43,588		—		1,648		10,909		56,145
Total revenue		$	141,615	$	318,011	$	57,057	$	67,768	$	584,451













	Nine Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	397,903	$	1,032,764	$	227,561	$	232,422	$	1,890,650
Time-and-material			158,651		—		13,138		46,153		217,942
Total revenue		$	556,554	$	1,032,764	$	240,699	$	278,575	$	2,108,592

	Nine Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	277,693	$	942,201	$	153,906	$	168,669	$	1,542,469
Time-and-material			152,287		—		5,051		28,399		185,737
Total revenue		$	429,980	$	942,201	$	158,957	$	197,068	$	1,728,206

Business	9 Months Ended
Business	Jun. 30, 2024
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	1. BUSINESS AND ACCOUNTING POLICIES Description of the Business IES Holdings, Inc. designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing and commercial and industrial facilities. Our operations are organized into four business segments, based upon the nature of our services: •Communications – Nationwide provider of technology infrastructure services, including the design, build, and maintenance of the communications infrastructure within data centers for co-location and managed hosting customers, for both large corporations and independent businesses. •Residential – Regional provider of electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation and air conditioning (HVAC) and plumbing installation services in certain markets. •Infrastructure Solutions – Provider of electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products such as generator enclosures used in data centers and other industrial applications. •Commercial & Industrial – Provider of electrical and mechanical design, construction, and maintenance services to the commercial and industrial markets in various regional markets and nationwide in certain areas of expertise, such as the power infrastructure market and data centers. The words “IES”, the “Company”, “we”, “our”, and “us” refer to IES Holdings, Inc. and, except as otherwise specified herein, to our consolidated subsidiaries. Seasonality and Quarterly Fluctuations Results of operations from our Residential segment can be seasonal, depending on weather trends, with typically higher revenues generated during spring and summer and lower revenues generated during fall and winter. The Commercial & Industrial, Communications and Infrastructure Solutions segments of our business are less subject to seasonal trends, as work in these segments generally is performed inside structures protected from the weather, although weather can still impact these businesses, especially in the early stages of projects. From quarter to quarter, results for our Communications, Residential, and Commercial & Industrial segments may be materially affected by the timing of new construction projects, and our volume of business may be adversely affected by declines in construction projects resulting from adverse regional or national economic conditions. Quarterly results for our Infrastructure Solutions segment may be affected by the timing of outages or capital projects at our customers’ facilities. Accordingly, operating results for any fiscal period are not necessarily indicative of results that may be achieved for any subsequent fiscal period. Basis of Financial Statement Preparation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of IES, our wholly-owned subsidiaries, and entities that we control due to ownership of a majority of voting interest and have been prepared in accordance with the instructions to interim financial reporting as prescribed by the United States Securities and Exchange Commission (the “SEC”). The results for the interim periods are not necessarily indicative of results for the entire year. These interim financial statements do not include all disclosures required by U.S. generally accepted accounting principles (“GAAP”) and should be read in conjunction with the consolidated financial statements and notes thereto filed with the SEC in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023. In the opinion of management, the unaudited Condensed Consolidated Financial Statements contained in this report include all known accruals and adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods reported herein. Any such adjustments are of a normal recurring nature. Noncontrolling Interest In connection with our acquisitions of Edmonson Electric, LLC and Bayonet Plumbing, Heating & Air-Conditioning, LLC (“Bayonet”) in fiscal 2021, and NEXT Electric, LLC in fiscal 2017, we acquired an 80 percent interest in each of the entities, with the remaining 20 percent interest in each such entity being retained by the respective third-party seller. The interests retained by those third-party sellers are identified on our Condensed Consolidated Balance Sheets as noncontrolling interest, classified outside of permanent equity. Under the terms of each entity’s operating agreement, after five years from the date of the acquisition, we may elect to purchase, or the third-party seller may require us to purchase, part or all of the remaining 20 percent interest in the applicable entity. In each case, the purchase price is variable, based on a multiple of earnings as defined in the applicable operating agreement. Therefore, each noncontrolling interest is carried at the greater of the balance determined under Accounting Standards Codification (“ASC”) 810 and the redemption amounts assuming the noncontrolling interest was redeemable at the balance sheet date. On June 28, 2024, we acquired the 20 percent noncontrolling interest in Bayonet for $31,200. If all of the noncontrolling interests remaining outstanding at June 30, 2024 had been redeemable at that date, the aggregate redemption amount would have been $38,919. Use of Estimates The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition of construction in progress, fair value assumptions in accounting for business combinations, stock-based compensation, reserves for legal matters, and realizability of deferred tax assets and unrecognized tax benefits.
Accounting Standards Update and Change in Accounting Principle	In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). This standard amends the existing guidance under ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations. Under this standard, the acquirer of a business is expected to recognize and measure acquired contract assets and contract liabilities as if the acquirer entered into the original contract on the same date with the same terms in accordance with ASC 606 rather than at fair value on the date of acquisition. This update is effective for fiscal years beginning after December 15, 2022 and for interim periods within that year. We adopted this standard on October 1, 2023 using the prospective method. ASU 2021-08 impacts how we account for business combinations completed after its adoption. Recent Accounting Pronouncements and Disclosure Rules Not Yet Adopted In December 2023, the FASB issued Accounting Standard Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). This standard requires more detailed disclosure within the tax rate reconciliation table, as well as additional information about cash taxes paid. This update is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are evaluating the impact this update will have on our annual disclosures; however, it will not impact our financial condition, results of operations, or cash flows. In November 2023, the FASB issued Accounting Standard Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This standard requires disclosure of significant segment expenses, other segment items, and additional information about the chief operating decision maker (“CODM”). This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required. We are evaluating the impact this update will have on our annual disclosures; however, it will not impact our financial condition, results of operations, or cash flows.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Operating Segments

9 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

6. OPERATING SEGMENTS

We manage and measure performance of our business in four distinct operating segments: Communications, Residential, Infrastructure Solutions, and Commercial & Industrial. These segments are reflective of how the CODM reviews operating results for the purpose of allocating resources and assessing performance. The Company’s CODM is its Chief Executive Officer.

Transactions between segments, if any, are eliminated in consolidation. Our corporate organization provides general and administrative services, as well as support services, to each of our four operating segments. Management allocates certain shared costs among segments for selling, general and administrative expenses and depreciation expense.

Segment information for the three and nine months ended June 30, 2024 and 2023 is as follows:


		Three Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	192,303	$	377,536	$	102,022	$	96,554	$	—	$	768,415
Cost of services		155,184		272,224		71,366		74,860		—		573,634
Gross profit		37,119		105,312		30,656		21,694		—		194,781
Selling, general and administrative		16,122		61,662		10,886		8,717		7,307		104,694

Contingent consideration		—		—		43		—		—		43
Gain on sale of assets		(7)		(70)		(3)		(52)		—		(132)
Operating income (loss)		$	21,004	$	43,720	$	19,730	$	13,029	$	(7,307)	$	90,176
Other data:
	Depreciation and amortization expense	$	931	$	5,282	$	3,656	$	517	$	227	$	10,613
	Capital expenditures	$	6,319	$	5,279	$	4,862	$	801	$	271	$	17,532
	Total assets	$	262,677	$	400,539	$	289,619	$	97,741	$	104,760	$	1,155,336


		Three Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	141,615	$	318,011	$	57,057	$	67,768	$	—	$	584,451
Cost of services		114,440		260,679		42,851		58,872		—		476,842
Gross profit		27,175		57,332		14,206		8,896		—		107,609
Selling, general and administrative		13,680		41,939		7,066		6,284		5,331		74,300
Contingent consideration		—		70		—		—		—		70
Gain on sale of assets		(1)		(56)		(1,010)		(13)		—		(1,080)
Operating income (loss)		$	13,496	$	15,379	$	8,150	$	2,625	$	(5,331)	$	34,319
Other data:
	Depreciation and amortization expense	$	498	$	4,609	$	1,300	$	402	$	69	$	6,878
	Capital expenditures	$	261	$	2,461	$	918	$	800	$	169	$	4,609
	Total assets	$	182,117	$	381,840	$	179,363	$	84,101	$	72,307	$	899,728

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Fair Value Measurements

9 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

. FAIR VALUE MEASUREMENTS

Fair Value Measurement Accounting

Fair value is considered the price to sell an asset, or transfer a liability, between market participants on the measurement date. Fair value measurements assume that (1) the asset or liability is exchanged in an orderly manner, (2) the exchange is in the principal market for that asset or liability, and (3) the market participants are independent, knowledgeable, and able and willing to transact an exchange. Fair value accounting and reporting establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Judgment is required to interpret the market data used to develop fair value estimates. As such, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current exchange. The use of different market assumptions and/or estimation methods could have a material effect on the estimated fair value.

At June 30, 2024 and September 30, 2023, financial assets and liabilities measured at fair value on a recurring basis were limited to investments in equity securities and debt securities classified as trading securities, our Executive Deferred Compensation Plan, under which certain employees are permitted to defer a portion of their base salary and/or bonus for a Plan Year (as defined in the plan), and contingent consideration liabilities related to certain of our acquisitions.

Financial assets (liabilities) measured at fair value on a recurring basis as of June 30, 2024 and September 30, 2023, are summarized in the following tables by the type of inputs applicable to the fair value measurements:


	June 30, 2024
			Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable Inputs (Level 3)
Equity securities		$	10,425	$	10,425	$	—
Debt securities classified as trading securities			4,388		4,388		—
Executive savings plan assets			940		940		—
Executive savings plan liabilities			(807)		(807)		—
Contingent consideration liability			(2,833)		—		(2,833)
Total		$	12,113	$	14,946	$	(2,833)


	September 30, 2023
			Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable Inputs (Level 3)
Executive savings plan assets		$	783	$	783	$	—

Executive savings plan liabilities			(657)		(657)		—

Contingent consideration liability			(4,465)		—		(4,465)
Total		$	(4,339)	$	126	$	(4,465)

Investments in equity securities and debt securities, all of which are classified as trading securities and mature after one year and before five years at June 30, 2024, were included in “Prepaid expenses and other current assets” in our Condensed Consolidated Balance Sheets. Gains and losses to measure our investments in equity and debt securities at fair value were included in Other (income) expense, net in our Condensed Consolidated Statements of Comprehensive Income. Our unrealized net gains (losses), which are calculated as total net gains (losses) recognized during the period less net gains (losses) recognized on securities sold during the period, were as follows:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Unrealized loss on equity securities	$	(1,497)	$	—	$	(3,349)	$	—
Unrealized gain (loss) on debt securities	(55)		—		7		—
Total unrealized loss on trading securities	$	(1,552)	$	—	$	(3,342)	$	—

On April 1, 2024, we entered into a contingent consideration arrangement valued at $2,790 in connection with the acquisition of Greiner Industries, Inc. For more information, refer to Note 13, “Business Combinations and Divestitures” in the Notes to our Condensed Consolidated Financial Statements. The contingent consideration obligation related to Bayonet, which was acquired in fiscal year 2021, was settled in cash in December 2023. The table below presents the change in fair value of these obligations, which used significant unobservable inputs (Level 3).




	Contingent Consideration Agreements
Fair value at September 30, 2023	$	(4,465)
Acquisitions	(2,790)
Net adjustments to fair value	(78)
Settlements	4,500
Fair value at June 30, 2024	$	(2,833)

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Unrealized loss on equity securities	$	(1,497)	$	—	$	(3,349)	$	—
Unrealized gain (loss) on debt securities	(55)		—		7		—
Total unrealized loss on trading securities	$	(1,552)	$	—	$	(3,342)	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DEI Document - shares	9 Months Ended
DEI Document - shares	Jun. 30, 2024	Jul. 31, 2024
Entity Information [Line Items]
Entity File Number	001-13783
Entity Registrant Name	IES Holdings, Inc.
Document Period End Date	Jun. 30, 2024
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0001048268
Entity Incorporation, State or Country Code	DE
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Tax Identification Number	76-0542208
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	IESC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	2 Riverway
Entity Address, Address Line Two	Suite 1730
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	860-1500
Entity Common Stock, Shares Outstanding		19,978,209

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock, Common	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Stockholders' Equity Attributable to Parent at Sep. 30, 2022	$ 361,288	$ 220	$ (44,000)	$ 201,871	$ 203,197
Shares, Issued at Sep. 30, 2022		22,049,529	1,707,629
Issuances under compensation plans	0		$ (2,692)	(2,692)
Issuances under compensation plans, shares			103,053
Acquisition of treasury stock	8,213		$ 8,223	(10)
Acquisition of treasury stock, shares			(255,374)
Options exercised	14		$ 53	39
Options exercised, shares			2,000
Non-cash compensation	(3,256)			(3,256)
Noncontrolling Interest, Change in Redemption Value	(11,742)
Stockholders' Equity Attributable to Parent at Jun. 30, 2023	415,102	$ 220	$ (49,478)	202,406	261,954
Shares, Issued at Jun. 30, 2023		22,049,529	1,857,950
Net Income (Loss) Available to Common Stockholders, Basic	70,499				70,499
Stockholders' Equity Attributable to Parent at Mar. 31, 2023	397,751	$ 220	$ (49,751)	201,958	245,324
Shares, Issued at Mar. 31, 2023		22,049,529	1,878,008
Issuances under compensation plans			$ (849)	(849)
Issuances under compensation plans, shares			32,040
Acquisition of treasury stock	576		$ 576	0
Acquisition of treasury stock, shares			(11,982)
Non-cash compensation	(1,297)			(1,297)
Stockholders' Equity Attributable to Parent at Jun. 30, 2023	415,102	$ 220	$ (49,478)	202,406	261,954
Shares, Issued at Jun. 30, 2023		22,049,529	1,857,950
Net Income (Loss) Available to Common Stockholders, Basic	22,546				22,546
Stockholders' Equity Attributable to Parent at Sep. 30, 2023	449,985	$ 220	$ (49,450)	203,431	295,784
Shares, Issued at Sep. 30, 2023		22,049,529	1,855,311
Issuances under compensation plans	0		$ (2,213)	(2,213)
Issuances under compensation plans, shares			82,180
Acquisition of treasury stock	24,320		$ 24,320	0
Acquisition of treasury stock, shares			(191,445)
Options exercised	8		$ 27	19
Options exercised, shares			1,000
Non-cash compensation	(4,296)			(4,296)
Adjustments to Additional Paid in Capital, Other	(2,356)			(2,356)
Noncontrolling Interest, Change in Redemption Value	(16,056)				(16,056)
Stockholders' Equity Attributable to Parent at Jun. 30, 2024	567,522	$ 220	$ (71,530)	203,139	435,693
Shares, Issued at Jun. 30, 2024		22,049,529	1,963,576
Net Income (Loss) Available to Common Stockholders, Basic	155,965				155,965
Stockholders' Equity Attributable to Parent at Mar. 31, 2024	534,806	$ 220	$ (50,428)	204,088	380,926
Shares, Issued at Mar. 31, 2024		22,049,529	1,806,071
Issuances under compensation plans	0		$ 0	0
Issuances under compensation plans, shares			0
Acquisition of treasury stock	21,102		$ 21,102	0
Acquisition of treasury stock, shares			(157,505)
Non-cash compensation	(1,407)			(1,407)
Adjustments to Additional Paid in Capital, Other	(2,356)			(2,356)
Noncontrolling Interest, Change in Redemption Value	(7,333)				(7,333)
Stockholders' Equity Attributable to Parent at Jun. 30, 2024	567,522	$ 220	$ (71,530)	$ 203,139	435,693
Shares, Issued at Jun. 30, 2024		22,049,529	1,963,576
Net Income (Loss) Available to Common Stockholders, Basic	$ 62,100				$ 62,100

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]


	June 30, 2024
			Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable Inputs (Level 3)
Equity securities		$	10,425	$	10,425	$	—
Debt securities classified as trading securities			4,388		4,388		—
Executive savings plan assets			940		940		—
Executive savings plan liabilities			(807)		(807)		—
Contingent consideration liability			(2,833)		—		(2,833)
Total		$	12,113	$	14,946	$	(2,833)


	September 30, 2023
			Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable Inputs (Level 3)
Executive savings plan assets		$	783	$	783	$	—

Executive savings plan liabilities			(657)		(657)		—

Contingent consideration liability			(4,465)		—		(4,465)
Total		$	(4,339)	$	126	$	(4,465)

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents the change in fair value of these obligations, which used significant unobservable inputs (Level 3).




	Contingent Consideration Agreements
Fair value at September 30, 2023	$	(4,465)
Acquisitions	(2,790)
Net adjustments to fair value	(78)
Settlements	4,500
Fair value at June 30, 2024	$	(2,833)

Unrealized Gain (Loss) on Investments

Our unrealized net gains (losses), which are calculated as total net gains (losses) recognized during the period less net gains (losses) recognized on securities sold during the period, were as follows:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Unrealized loss on equity securities	$	(1,497)	$	—	$	(3,349)	$	—
Unrealized gain (loss) on debt securities	(55)		—		7		—
Total unrealized loss on trading securities	$	(1,552)	$	—	$	(3,342)	$	—

Discontinued Operations and Disposal Groups

9 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Business Combination Disclosure [Text Block]

13. BUSINESS COMBINATIONS AND DIVESTITURES

Business combinations

On April 1, 2024, the Company acquired all of the equity interests of Greiner Industries, Inc. ("Greiner"), a Mount Joy, Pennsylvania-based structural steel fabrication and services company for a purchase price of $70,488. Greiner is part of our Infrastructure Solutions segment and continues to operate under the Greiner name. The acquisition of Greiner will expand our geographic footprint, add custom structural steel fabrication to our product offerings, and provide additional capacity for our existing custom engineered product offerings. In addition to cash consideration of $67,698, the purchase price also includes contingent consideration of up to $5,000 upon achievement of certain future earnings targets, which was valued at $2,790 as of the date of the acquisition. The fair value of the total consideration for this transaction remains subject to post-closing adjustments as of the date of this report.

The Company accounted for the transaction under the acquisition method of accounting, which requires recording assets and liabilities at fair value (Level 3). The preliminary purchase price allocation is subject to valuation activities that are currently underway; therefore, the allocation of purchase price is subject to change, and is expected to result in adjustments to the preliminary amounts recorded. The preliminary valuation of the assets acquired and liabilities assumed is as follows:


Current assets	$	22,561
Property and equipment		47,678
Intangible assets		3,000
Goodwill		2,148
Current liabilities		(4,899)



Net assets acquired	$	70,488

In connection with this acquisition, we acquired goodwill of $2,148, all of which is tax deductible, attributable to an assembled workforce and other intangibles that do not qualify for separate recognition. The intangible assets acquired primarily consisted of customer relationships, backlog and trade name with a total weighted-average amortization period of 3.4 years.

Greiner contributed $15,286 in revenue and $701 in operating income during the three and nine months ended June 30, 2024.

We completed no acquisitions during the year ended September 30, 2023.

Divestitures

On October 7, 2022, we sold 100% of the membership interests of STR Mechanical, LLC and its subsidiary Technical Services II, LLC (collectively, “STR”). As a result, we recognized a pre-tax gain of $13,045, which was included in “Gain on sale of assets” within our Condensed Consolidated Statements of Comprehensive Income for the nine months ended June 30, 2023.

Disposal Groups, Including Discontinued Operations, Disclosure

Divestitures

Business (Details) - USD ($) $ in Thousands	9 Months Ended
Business (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Redeemable Noncontrolling Interest, Equity, Redemption Value	$ 38,919
Accounting Standards Update and Change in Accounting Principle	In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). This standard amends the existing guidance under ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations. Under this standard, the acquirer of a business is expected to recognize and measure acquired contract assets and contract liabilities as if the acquirer entered into the original contract on the same date with the same terms in accordance with ASC 606 rather than at fair value on the date of acquisition. This update is effective for fiscal years beginning after December 15, 2022 and for interim periods within that year. We adopted this standard on October 1, 2023 using the prospective method. ASU 2021-08 impacts how we account for business combinations completed after its adoption. Recent Accounting Pronouncements and Disclosure Rules Not Yet Adopted In December 2023, the FASB issued Accounting Standard Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). This standard requires more detailed disclosure within the tax rate reconciliation table, as well as additional information about cash taxes paid. This update is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are evaluating the impact this update will have on our annual disclosures; however, it will not impact our financial condition, results of operations, or cash flows. In November 2023, the FASB issued Accounting Standard Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This standard requires disclosure of significant segment expenses, other segment items, and additional information about the chief operating decision maker (“CODM”). This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required. We are evaluating the impact this update will have on our annual disclosures; however, it will not impact our financial condition, results of operations, or cash flows.
Redeemable Noncontrolling Interest [Line Items]
Payments for Repurchase of Redeemable Noncontrolling Interest	$ 31,200	$ 0

- Definition

+ References

+ Details

Inventory (Tables)

9 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following components:


	June 30,		September 30,
	2024		2023
Raw materials	$	14,920	$	14,334
Work in process		9,996		12,939
Finished goods		5,498		3,399
Parts and supplies		76,441		64,983
Total inventories	$	106,855	$	95,655

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 940		$ 940		$ 783
Debt Securities, Trading	4,388		4,388
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(807)		(807)		(657)
Business Combination, Contingent Consideration, Liability, Noncurrent	(2,833)		(2,833)		(4,465)
Fair Value, Net Asset (Liability)	12,113		12,113		(4,339)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings			$ 78
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Contingent consideration
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements			$ (4,500)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases			2,790
Equity Securities, FV-NI, Current	10,425		10,425
Equity Securities, FV-NI, Unrealized Gain (Loss)	(1,497)	$ 0	(3,349)	$ 0
Debt Securities, Trading, Unrealized Gain (Loss)	(55)	0	7	0
Debt and Equity Securities, Unrealized Gain (Loss)	0	$ (1,552)	0	$ (3,342)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	940		940		783
Debt Securities, Trading	4,388		4,388
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(807)		(807)		(657)
Fair Value, Net Asset (Liability)	14,946		14,946		126
Equity Securities, FV-NI, Current	10,425		10,425
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability, Noncurrent	(2,833)		(2,833)
Fair Value, Net Asset (Liability)	$ (2,833)		$ (2,833)		$ (4,465)

Goodwill and Intangible Assets Goodwill (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Line Items]
Goodwill	$ 92,395
Goodwill	94,543
Goodwill, Acquired During Period	2,148
Commercial and Industrial [Member]
Goodwill [Line Items]
Goodwill	0
Goodwill	0
Residential [Member]
Goodwill [Line Items]
Goodwill	51,370
Goodwill	51,370
Goodwill, Acquired During Period	0
Infrastructure Solutions [Member]
Goodwill [Line Items]
Goodwill	38,209
Goodwill	40,357
Goodwill, Acquired During Period	2,148
Communications [Member]
Goodwill [Line Items]
Goodwill	2,816
Goodwill	$ 2,816

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Unbilled Receivables, Current	$ 13,677		$ 13,677
Costs and estimated earnings in excess of billings	57,885		57,885		$ 48,620
Billings in excess of costs and estimated earnings	(139,261)		(139,261)		$ (103,771)
Contract with Customer, Liability, Revenue Recognized			96,889	$ 78,263
Performance Obligation Next 12 Months	1,002,742		1,002,742
Revenue, Remaining Performance Obligation, Amount	1,177,184		1,177,184
Disaggregation of Revenue [Line Items]
Revenues	768,415	$ 584,451	2,108,592	1,728,206
Contract with Customer, Liability, Revenue Recognized			96,889	78,263
Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	96,554	67,768	278,575	197,068
Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	192,303	141,615	556,554	429,980
Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	102,022	57,057	240,699	158,957
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	377,536	318,011	1,032,764	942,201
Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	677,750	528,306	1,890,650	1,542,469
Fixed-price Contract [Member] \| Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	75,540	56,859	232,422	168,669
Fixed-price Contract [Member] \| Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	131,536	98,027	397,903	277,693
Fixed-price Contract [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	93,138	55,409	227,561	153,906
Fixed-price Contract [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	377,536	318,011	1,032,764	942,201
Time-and-materials Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	90,665	56,145	217,942	185,737
Time-and-materials Contract [Member] \| Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	21,014	10,909	46,153	28,399
Time-and-materials Contract [Member] \| Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	60,767	43,588	158,651	152,287
Time-and-materials Contract [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	8,884	1,648	13,138	5,051
Time-and-materials Contract [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
industrial Services [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,786	11,312	34,960	33,828
Custom Power Solutions [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	90,236	45,745	205,739	125,129
Single Family Contracts [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	285,211	240,799	784,070	711,724
Multi Family and Other [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 92,325	$ 77,212	$ 248,694	$ 230,477

Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

10. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following summarizes changes in the carrying value of goodwill by segment during the nine months ended June 30, 2024:


	Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Goodwill at September 30, 2023	$	2,816	$	51,370	$	38,209	$	—	$	92,395
Acquisitions	—		—		2,148		—		2,148



Goodwill at June 30, 2024	$	2,816	$	51,370	$	40,357	$	—	$	94,543

Intangible Assets

Intangible assets consist of the following:


	Estimated Useful Lives (in Years)			June 30, 2024
					Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20		$	13,821	$	(6,568)		$	7,253
Technical library	20				400		(216)			184
Customer relationships	6	-	15		92,926		(51,497)			41,429
Non-competition arrangements	5				40		(40)			—
Backlog and construction contracts	1				4,018		(3,376)			642
Total intangible assets					$	111,205	$	(61,697)		$	49,508


	Estimated Useful Lives (in Years)			September 30, 2023
					Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20		$	14,621	$	(6,973)		$	7,648
Technical library	20				400		(201)			199
Customer relationships	6	-	15		91,426		(43,065)			48,361
Non-competition arrangements	5				40		(40)			—
Backlog and construction contracts	1				4,958		(4,958)			—
Total intangible assets					$	111,445	$	(55,237)		$	56,208

Per Share Information (Tables)

9 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following tables reconcile the components of basic and diluted earnings per share for the three and nine months ended June 30, 2024 and 2023:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to IES Holdings, Inc.	$	62,100	$	22,546	$	155,965	$	70,499
Increase in noncontrolling interest	(7,333)		(5,916)		(16,056)		(11,742)
Net income attributable to restricted stockholders of IES Holdings, Inc.	—		—		—		(9)
Net income attributable to common stockholders of IES Holdings, Inc.	$	54,767	$	16,630	$	139,909	$	58,748

Denominator:
Weighted average common shares outstanding — basic	20,224,102		20,181,793		20,216,981		20,198,474
Effect of dilutive stock options and non-vested securities	272,768		223,909		245,875		205,861
Weighted average common and common equivalent shares outstanding — diluted	20,496,870		20,405,702		20,462,856		20,404,335

Earnings per share attributable to common stockholders of IES Holdings, Inc.:
Basic	$	2.71	$	0.82	$	6.92	$	2.91
Diluted	$	2.67	$	0.81	$	6.84	$	2.88

Potentially dilutive securities excluded from the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive:
Employee PSUs	187		2,937		796		—

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 01, 2022
Subsequent Event [Line Items]
Treasury Stock Acquired, Average Cost Per Share		$ 132.92	$ 40.00	$ 132.92	$ 31.06
Stock Repurchase Program, Authorized Amount						$ 40,000
Subsequent Event
Subsequent Event [Line Items]
Treasury Stock Acquired, Average Cost Per Share	$ 139.84
Treasury Stock, Shares, Acquired	119,041
Stock Repurchase Program, Authorized Amount	$ 200,000

Operating Segments (Tables)

9 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Segment information for the three and nine months ended June 30, 2024 and 2023 is as follows:


		Three Months Ended June 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	192,303	$	377,536	$	102,022	$	96,554	$	—	$	768,415
Cost of services		155,184		272,224		71,366		74,860		—		573,634
Gross profit		37,119		105,312		30,656		21,694		—		194,781
Selling, general and administrative		16,122		61,662		10,886		8,717		7,307		104,694

Contingent consideration		—		—		43		—		—		43
Gain on sale of assets		(7)		(70)		(3)		(52)		—		(132)
Operating income (loss)		$	21,004	$	43,720	$	19,730	$	13,029	$	(7,307)	$	90,176
Other data:
	Depreciation and amortization expense	$	931	$	5,282	$	3,656	$	517	$	227	$	10,613
	Capital expenditures	$	6,319	$	5,279	$	4,862	$	801	$	271	$	17,532
	Total assets	$	262,677	$	400,539	$	289,619	$	97,741	$	104,760	$	1,155,336


		Three Months Ended June 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	141,615	$	318,011	$	57,057	$	67,768	$	—	$	584,451
Cost of services		114,440		260,679		42,851		58,872		—		476,842
Gross profit		27,175		57,332		14,206		8,896		—		107,609
Selling, general and administrative		13,680		41,939		7,066		6,284		5,331		74,300
Contingent consideration		—		70		—		—		—		70
Gain on sale of assets		(1)		(56)		(1,010)		(13)		—		(1,080)
Operating income (loss)		$	13,496	$	15,379	$	8,150	$	2,625	$	(5,331)	$	34,319
Other data:
	Depreciation and amortization expense	$	498	$	4,609	$	1,300	$	402	$	69	$	6,878
	Capital expenditures	$	261	$	2,461	$	918	$	800	$	169	$	4,609
	Total assets	$	182,117	$	381,840	$	179,363	$	84,101	$	72,307	$	899,728

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory, Raw Materials, Gross	$ 14,920	$ 14,334
Inventory, Work in Process, Gross	9,996	12,939
Inventory, Finished Goods, Gross	5,498	3,399
Other Inventory, Gross	76,441	64,983
Inventory, Net	$ 106,855	$ 95,655

Stockholders' Equity

9 Months Ended

Jun. 30, 2024

Equity [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

7. STOCKHOLDERS’ EQUITY

Equity Incentive Plan

The Company’s 2006 Equity Incentive Plan, as amended and restated (the “Equity Incentive Plan”), provides for grants of stock options as well as grants of stock, including restricted stock. Approximately 3.0 million shares of common stock are authorized for issuance under the Equity Incentive Plan, of which approximately 568,992 shares were available for issuance at June 30, 2024.

Stock Repurchase Program

In December 2022, our Board authorized a stock repurchase program for the purchase from time to time of up to $40,000 of the Company’s common stock, replacing the Company's previous repurchase program. Share purchases are made for cash in open market transactions at prevailing market prices or in privately negotiated transactions or otherwise. The timing and amount of purchases under the program are determined based upon prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which allows repurchases under predetermined terms at times when the Company might otherwise be prevented from purchasing under insider trading laws or because of self-imposed blackout periods. The program does not require the Company to purchase any specific number of shares and may be modified, suspended, reinstated, or terminated at any time at the Company’s discretion and without notice. We repurchased 234 and 224,013 shares, respectively, of our common stock during the three and nine months ended June 30, 2023 in open market transactions at an average price of $40.00 and $31.06 per share, respectively. We repurchased 157,505 shares of our common stock during the three and nine months ended June 30, 2024 in open market transactions at an average price of $132.92 per share. Subsequent to June 30, 2024, we repurchased an additional 119,041 shares in open market transactions at an average price of $139.84, which fully utilized the amount remaining under the previous $40,000 authorization. On July 31, 2024, the Board authorized a new $200,000 stock repurchase program.

Treasury Stock

During the nine months ended June 30, 2024, we issued 82,180 shares of common stock from treasury stock to employees and repurchased 33,940 shares of common stock from our employees to satisfy statutory tax withholding requirements upon the vesting of certain performance phantom stock units under the Equity Incentive Plan. During the nine months ended June 30, 2024, we issued 1,000 unrestricted shares to satisfy the exercise of certain outstanding option awards under the Equity Incentive Plan.

During the nine months ended June 30, 2023, we issued 103,053 shares of common stock from treasury stock to employees and repurchased 31,095 shares of common stock from our employees to satisfy statutory tax withholding requirements upon the vesting of certain performance phantom stock units under the Equity Incentive Plan. In addition, 266 restricted shares were forfeited and returned to treasury stock. During the nine months ended June 30, 2023, we issued 2,000 unrestricted shares to satisfy the exercise of certain outstanding option awards under the Equity Incentive Plan.

Director Phantom Stock Units

Director phantom stock units (“Director PSUs”) are granted to the members of the Board of Directors as part of their overall compensation. The Director PSUs are contractual rights to receive one share of the Company's common stock and are paid via unrestricted stock grants to each director upon their departure from the Board of Directors, or upon a change in control. We record compensation expense for the full value of the grant on the date of grant.

Employee Phantom Stock Units

An employee phantom stock unit (an “Employee PSU”) is a contractual right to receive one share of the Company’s common stock. Depending on the terms of each grant, Employee PSUs may vest upon the achievement of certain specified performance objectives and continued performance of services, or may vest based on continued performance of services through the vesting date.

As of June 30, 2024, the Company had outstanding Employee PSUs, which, subject to the achievement of certain performance metrics, could result in the issuance of 324,537 shares of common stock. During the nine months ended June 30, 2024, we granted 86,512 Employee PSUs, 5,608 were forfeited, and 82,180 vested.

A summary of the compensation expense related to our stock awards recognized during the three and nine months ended June 30, 2024 and 2023 is provided in the table below:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Restricted stock awards	$	—	$	—	$	—	$	25
Director PSUs	$	134	$	99	$	364	$	289
Employee PSUs	$	1,274	$	1,200	$	3,969	$	2,941

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023	Dec. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized		100,000,000		100,000,000		100,000,000
Treasury Stock Acquired, Average Cost Per Share		$ 132.92	$ 40.00	$ 132.92	$ 31.06
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation				33,940	31,095
Stock Repurchase Program, Authorized Amount							$ 40,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		568,992		568,992
Treasury Stock Acquired, Average Cost Per Share		$ 132.92	$ 40.00	$ 132.92	$ 31.06
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation				33,940	31,095
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	119,041
Treasury Stock Acquired, Average Cost Per Share	$ 139.84
Stock Repurchase Program, Authorized Amount	$ 200,000
Treasury Stock Acquired, Average Cost Per Share	$ 139.84
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 0	$ 0	$ 0	$ 25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					266
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					266
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		134	99	3,969	$ 289
us-gaap_PhantomShareUnitsPSUsMember_Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense		$ 1,274	$ 1,200	$ 3,969	$ 2,941
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period				86,512
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				5,608
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period				(82,180)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number		324,537		324,537
Stock Issued During Period, Shares, Treasury Stock Reissued				82,180	103,053
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				5,608
Share-Based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Treasury Stock Reissued				1,000	2,000
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized		3,000,000.0		3,000,000.0
Repurchase Agreements [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired		157,505	234	157,505	224,013

Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Operating Segments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Segment Reporting Information [Line Items]
Cost of services	$ 573,634	$ 476,842	$ 1,598,394	$ 1,424,233
Gross profit	194,781	107,609	510,198	303,973
Selling, general and administrative expenses	104,694	74,300	285,816	211,417
Contingent consideration	43	70	78	208
Loss (gain) on sale of assets	(132)	(1,080)	(1,576)	(14,242)
Operating income (loss)	90,176	34,319	225,880	106,590
Depreciation and amortization expense	10,613	6,878	26,051	20,130
Capital expenditures	17,532	4,609	30,891	11,286
Total assets	1,155,336	899,728	1,155,336	899,728	$ 981,600
Revenues	768,415	584,451	2,108,592	1,728,206
Noncontrolling Interest, Change in Redemption Value	7,333		16,056	11,742
Commercial and Industrial [Member]
Segment Reporting Information [Line Items]
Cost of services	74,860	58,872	222,711	177,821
Gross profit	21,694	8,896	55,864	19,247
Selling, general and administrative expenses	8,717	6,284	24,271	18,373
Loss (gain) on sale of assets	(52)	(13)	(105)	(13,147)
Operating income (loss)	13,029	2,625	31,698	14,021
Depreciation and amortization expense	517	402	1,477	1,206
Capital expenditures	801	800	3,019	2,069
Total assets	97,741	84,101	97,741	84,101
Revenues	96,554	67,768	278,575	197,068
Communications [Member]
Segment Reporting Information [Line Items]
Cost of services	155,184	114,440	444,225	355,904
Gross profit	37,119	27,175	112,329	74,076
Selling, general and administrative expenses	16,122	13,680	48,011	39,363
Loss (gain) on sale of assets	(7)	(1)	(27)	(4)
Operating income (loss)	21,004	13,496	64,345	34,717
Depreciation and amortization expense	931	498	2,520	1,430
Capital expenditures	6,319	261	8,255	1,383
Total assets	262,677	182,117	262,677	182,117
Revenues	192,303	141,615	556,554	429,980
Infrastructure Solutions [Member]
Segment Reporting Information [Line Items]
Cost of services	71,366	42,851	168,107	120,089
Gross profit	30,656	14,206	72,592	38,868
Selling, general and administrative expenses	10,886	7,066	25,798	18,817
Contingent consideration		0
Loss (gain) on sale of assets	(3)	(1,010)	(3)	(1,029)
Operating income (loss)	19,730	8,150	46,754	21,080
Depreciation and amortization expense	3,656	1,300	6,112	3,980
Capital expenditures	4,862	918	6,897	2,117
Total assets	289,619	179,363	289,619	179,363
Revenues	102,022	57,057	240,699	158,957
Residential [Member]
Segment Reporting Information [Line Items]
Cost of services	272,224	260,679	763,351	770,419
Gross profit	105,312	57,332	269,413	171,782
Selling, general and administrative expenses	61,662	41,939	168,298	118,989
Contingent consideration	0	70	35	208
Loss (gain) on sale of assets	(70)	(56)	(1,427)	(62)
Operating income (loss)	43,720	15,379	102,507	52,647
Depreciation and amortization expense	5,282	4,609	15,256	13,310
Capital expenditures	5,279	2,461	12,067	5,548
Total assets	400,539	381,840	400,539	381,840
Revenues	377,536	318,011	1,032,764	942,201
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Cost of services	0	0	0	0
Gross profit	0	0	0	0
Selling, general and administrative expenses	7,307	5,331	19,438	15,875
Contingent consideration		0
Loss (gain) on sale of assets	0	0	(14)	0
Operating income (loss)	(7,307)	(5,331)	(19,424)	(15,875)
Depreciation and amortization expense	227	69	686	204
Capital expenditures	271	169	653	169
Total assets	104,760	72,307	104,760	72,307
Revenues	$ 0	$ 0	$ 0	$ 0

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ (1,628)	$ (1,649)
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	22,049,529	22,049,529
Common Stock, Shares, Outstanding	20,085,953	20,194,218
Treasury Stock, Shares	1,963,576	1,855,311

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Net income (loss)	$ 167,027	$ 78,780
Bad debt expense	514	480
Deferred financing cost amortization	212	199
Depreciation and amortization	26,051	20,130
Gain (Loss) on Disposition of Property Plant Equipment	(1,576)	(14,242)
Non-cash compensation expense	4,333	3,256
Deferred income taxes	3,823	9,352
Unrealized Gain (Loss) on Investments	3,342	0
Accounts receivable	(80,266)	25,390
Inventories	(11,200)	(8,081)
Costs and estimated earnings in excess of billings	(699)	7,607
Prepaid expenses and other current assets	(37,262)	(7,990)
Other non-current assets	208	2,027
Accounts payable and accrued expenses	31,299	(44,848)
Billings in excess of costs and estimated earnings	34,790	24,399
Other non-current liabilities	1,025	163
Net cash provided by operating activities	141,621	96,622
Capital expenditures	(30,891)	(11,286)
Proceeds from sale of assets	2,572	20,433
Cash paid in conjunction with business combinations	(380)	(165)
Payments to Acquire Businesses, Net of Cash Acquired	67,698	0
Net cash used in investing activities	(96,397)	8,982
Borrowings of debt	2,089,870	1,758,982
Repayments of debt	(2,089,870)	(1,841,641)
Cash paid for finance leases	(2,978)	(2,552)
Payment for Contingent Consideration Liability, Financing Activities	4,074	0
Distribution to noncontrolling interest	(13,533)	(8,484)
Purchase of treasury stock	(24,320)	(8,213)
Options exercised	8	14
Net cash used in financing activities	(76,097)	(101,894)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(30,873)	3,710
CASH, CASH EQUIVALENTS, beginning of period	75,770	24,848
CASH, CASH EQUIVALENTS, end of period	44,897	28,558
Cash paid for interest	405	1,932
Cash paid for income taxes (net)	57,790	8,257
Liabilities Assumed	2,790	0
Payments for Repurchase of Redeemable Noncontrolling Interest	$ (31,200)	$ 0

Per Share Information

9 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5. PER SHARE INFORMATION

The following tables reconcile the components of basic and diluted earnings per share for the three and nine months ended June 30, 2024 and 2023:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to IES Holdings, Inc.	$	62,100	$	22,546	$	155,965	$	70,499
Increase in noncontrolling interest	(7,333)		(5,916)		(16,056)		(11,742)
Net income attributable to restricted stockholders of IES Holdings, Inc.	—		—		—		(9)
Net income attributable to common stockholders of IES Holdings, Inc.	$	54,767	$	16,630	$	139,909	$	58,748

Denominator:
Weighted average common shares outstanding — basic	20,224,102		20,181,793		20,216,981		20,198,474
Effect of dilutive stock options and non-vested securities	272,768		223,909		245,875		205,861
Weighted average common and common equivalent shares outstanding — diluted	20,496,870		20,405,702		20,462,856		20,404,335

Earnings per share attributable to common stockholders of IES Holdings, Inc.:
Basic	$	2.71	$	0.82	$	6.92	$	2.91
Diluted	$	2.67	$	0.81	$	6.84	$	2.88

Potentially dilutive securities excluded from the computation of diluted earnings per share as the effect of their inclusion would have been anti-dilutive:
Employee PSUs	187		2,937		796		—

For the three and nine months ended June 30, 2024 and 2023, the average price of our common shares exceeded the exercise price of all of our outstanding stock options. As a result, all of our outstanding stock options were included in the computation of diluted earnings per share.

Stockholders' Equity (Tables)

9 Months Ended

Jun. 30, 2024

Equity [Abstract]

Share-Based Payment Arrangement, Cost by Plan

A summary of the compensation expense related to our stock awards recognized during the three and nine months ended June 30, 2024 and 2023 is provided in the table below:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Restricted stock awards	$	—	$	—	$	—	$	25
Director PSUs	$	134	$	99	$	364	$	289
Employee PSUs	$	1,274	$	1,200	$	3,969	$	2,941

Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-term debt	$ 0	$ 0
Letters of Credit Outstanding, Amount	5,606
Line of Credit Facility, Remaining Borrowing Capacity	143,049
Loans Payable to Bank, Noncurrent	0
Line of Credit Facility, Maximum Borrowing Capacity	$ 150,000

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Liability, Current	$ 20,488		$ 20,488		$ 19,496
Finance Lease, Liability, Current	4,646		4,646		$ 4,301
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	5,650		5,650
Lessee, Operating Lease, Liability, Payments, Due Year Two	20,361		20,361
Lessee, Operating Lease, Liability, Payments, Due Year Three	16,544		16,544
Lessee, Operating Lease, Liability, Payments, Due Year Four	11,507		11,507
Lessee, Operating Lease, Liability, Payments, Due Year Five	6,403		6,403
Lessee, Operating Lease, Liability, Payments, Due after Year Five	5,936		5,936
Lessee, Operating Lease, Liability, Payments, Due	66,401		66,401
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	7,198		7,198
Operating Lease, Liability	59,203		59,203
Finance Lease, Liability, Payments, Due Next Twelve Months	1,204		1,204
Finance Lease, Liability, Payments, Due Year Two	4,614		4,614
Finance Lease, Liability, Payments, Due Year Three	3,828		3,828
Finance Lease, Liability, Payments, Due Year Four	2,039		2,039
Finance Lease, Liability, Payments, Due Year Five	301		301
Finance Lease, Liability, Payments, Due after Year Five	46		46
Finance Lease, Liability, Payment, Due	12,032		12,032
Finance Lease, Liability, Undiscounted Excess Amount	927		927
Finance Lease, Liability	11,105		11,105
Lessee, Total Lease, Liability, Payments, Remainder of Fiscal Year [Line Items]	6,854		6,854
Total Lease, Liability, Payments, Year Two	24,975		24,975
Total Lease, Liability, Payments, Year Three	20,372		20,372
Total Lease, Liability, Payments, Year Four	13,546		13,546
Total Lease, Liability, Payments, Year Five	6,704		6,704
Total Lease, Liability, Payments, Due After Year Five	5,982		5,982
Total Lease, Liability, Payments Due	78,433		78,433
Total Lease, Liability, Undiscounted Excess Amount	8,125		8,125
Total Lease, Liability	70,308		70,308
Lessee, Operating Lease, Lease Not yet Commenced, Description	8,704		8,704
Operating Lease, Cost	5,405	$ 4,524	16,819	$ 13,857
Finance Lease, Right-of-Use Asset, Amortization	1,073	865	3,207	2,551
Finance Lease, Interest Expense	206	180	605	546
Finance Lease, Cost	1,279	1,045	3,812	3,097
Short-term Lease, Cost	434	599	1,244	1,701
Variable Lease, Cost	1,011	812	3,092	1,886
Lease, Cost	8,129	6,980	24,967	20,541
Operating Lease, Payments	6,088	5,856	18,152	17,674
Finance Lease, Interest Payment on Liability	207	180	605	546
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	5,116	5,119	12,691	14,310
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 284	$ 981	$ 1,268	$ 5,807
Operating Lease, Weighted Average Remaining Lease Term	3 years 10 months 24 days		3 years 10 months 24 days		4 years 6 months
Finance Lease, Weighted Average Remaining Lease Term	2 years 10 months 24 days		2 years 10 months 24 days		3 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5.40%		5.40%		5.10%
Finance Lease, Weighted Average Discount Rate, Percent	6.30%		6.30%		6.00%
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	$ 20,488		$ 20,488		$ 19,496
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses		Accounts payable and accrued expenses
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses		Accounts payable and accrued expenses
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities		Other non-current liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets		Other non-current assets

Inventory

9 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

9. INVENTORY

Inventories consist of the following components:


	June 30,		September 30,
	2024		2023
Raw materials	$	14,920	$	14,334
Work in process		9,996		12,939
Finished goods		5,498		3,399
Parts and supplies		76,441		64,983
Total inventories	$	106,855	$	95,655

Accounting Policies (Policies)	9 Months Ended
Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Use of Estimates, Policy	Use of Estimates The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition of construction in progress, fair value assumptions in accounting for business combinations, stock-based compensation, reserves for legal matters, and realizability of deferred tax assets and unrecognized tax benefits.

Controlling Shareholder (Details) - USD ($) $ in Thousands	Dec. 01, 2022	Jun. 30, 2024
Risks and Uncertainties [Abstract]
ControllingShareholderOwnershipPercentage		56.00%
Related Party Transaction, Purchases from Related Party	$ 9

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Oct. 07, 2022	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal				$ 13,045
Sale of Stock, Percentage of Ownership before Transaction	100.00%
Greiner Industries
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		$ 701	$ 701
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 15,286	$ 15,286

Leases (Tables)

9 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

The maturities of our lease liabilities as of June 30, 2024 are as follows:


	Operating Leases		Finance Leases		Total
Remainder of 2024	$	5,650	$	1,204	$	6,854
2025	20,361		4,614		24,975
2026	16,544		3,828		20,372
2027	11,507		2,039		13,546
2028	6,403		301		6,704
Thereafter	5,936		46		5,982
Total undiscounted lease payments	$	66,401	$	12,032	$	78,433
Less: imputed interest	7,198		927		8,125
Present value of lease liabilities	$	59,203	$	11,105	$	70,308

Lease, Cost

Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows:


	Three Months Ended						Nine Months Ended
	June 30, 2024		June 30, 2023				June 30, 2024		June 30, 2023
Operating lease cost	$	5,405	$	4,524	$	0	$	16,819	$	13,857
Finance lease cost
Amortization of lease assets	1,073		865				3,207		2,551
Interest on lease liabilities	206		180				605		546
Finance lease cost	1,279		1,045				3,812		3,097
Short-term lease cost	434		599				1,244		1,701
Variable lease cost	$	1,011	$	812			$	3,092	$	1,886
Total lease cost	$	8,129	$	6,980			$	24,967	$	20,541

Schedule of Cash Flow, Supplemental Disclosures

Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows:


	Three Months Ended				Nine Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Operating cash flows used for operating leases	$	6,088	$	5,856	$	18,152	$	17,674
Operating cash flows used for finance leases	207		180		605		546
Right-of-use assets obtained in exchange for new operating lease liabilities	5,116		5,119		12,691		14,310
Right-of-use assets obtained in exchange for new finance lease liabilities	284		981		1,268		5,807


	June 30, 2024		September 30, 2023
Weighted-average remaining lease term - operating leases	3.9 years		4.5 years
Weighted-average remaining lease term - finance leases	2.9 years		3.4 years
Weighted-average discount rate - operating leases	5.4	%	5.1	%
Weighted-average discount rate - finance leases	6.3	%	6.0	%

Controlling Shareholder	9 Months Ended
Controlling Shareholder	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Controlling Shareholder [Text Block]	2. CONTROLLING STOCKHOLDER Tontine Associates, L.L.C. (“Tontine Associates”), together with its affiliates (collectively, “Tontine”), is the Company’s controlling stockholder, owning approximately 56 percent of the Company’s outstanding common stock based on Amendment No. 30 to the Schedule 13D filed by Tontine with the SEC on June 13, 2024 and the Company's shares outstanding as of July 31, 2024. Accordingly, Tontine has the ability to exercise significant control over our affairs, including the election of directors and most actions requiring the approval of stockholders. While Tontine is subject to certain restrictions under federal securities laws on sales of its shares as an affiliate, the Company has filed a shelf registration statement to register all of the shares of IES common stock owned by Tontine at the time of registration. As long as the shelf registration statement remains effective and the Company remains eligible to use it, Tontine has the ability to resell any or all of its registered shares from time to time in one or more offerings, as described in the shelf registration statement and in any prospectus supplement filed in connection with an offering pursuant to the shelf registration statement. Should Tontine sell or otherwise dispose of all or a portion of its position in IES, a change in control of IES could occur. A change of control would trigger the change of control provisions in a number of our material agreements, including our credit agreement, bonding agreements with our sureties and our executive severance plan. Jeffrey L. Gendell was appointed as Chief Executive Officer of the Company effective October 1, 2020, having served as the Company's Interim Chief Executive Officer since July 31, 2020. Mr. Gendell also serves as Chairman of the Board of Directors, a position he has held since November 2016. He is the managing member and founder of Tontine, and the brother of David B. Gendell, who has served as a member of our Board of Directors since February 2012, and who previously served as Interim Director of Operations from November 2017 to January 2019, as Vice Chairman of the Board from November 2016 to November 2017 and as Chairman of the Board from January 2015 to November 2016. David B. Gendell was an employee of Tontine from 2004 until January 2018. The Company is party to a sublease agreement with Tontine Associates for corporate office space in Greenwich, Connecticut, with monthly payments due in the amount of approximately $9. On August 1, 2024, the Company entered into an amendment of the sublease agreement, which was set to terminate on August 31, 2024, to extend the term of the agreement through September 30, 2025 effective September 1, 2024. Payments by the Company are at a rate consistent with that paid by Tontine Associates to its landlord. On December 6, 2018, the Company entered into a Board Observer Letter Agreement (the "Observer Agreement") with Tontine Associates in order to assist Tontine in managing its investment in the Company. Subject to the terms and conditions set forth in the Observer Agreement, the Company granted Tontine the right, at any time that Tontine holds at least 20% of the outstanding common stock of the Company, to appoint a representative to serve as an observer to the Board (the “Board Observer”). The Board Observer, who must be reasonably acceptable to those members of the Board who are not affiliates of Tontine, shall have no voting rights or other decision making authority. Subject to the terms and conditions set forth in the Observer Agreement, so long as Tontine has the right to appoint a Board Observer, the Board Observer will have the right to attend and participate in meetings of the Board and the committees thereof, subject to confidentiality requirements, and to receive reimbursement for reasonable out-of-pocket expenses incurred in his or her capacity as a Board Observer and such rights to coverage under the Company’s directors’ and officers’ liability insurance policy as are available to the Company’s directors.

Per Share Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Undistributed Earnings (Loss) Available to Common Shareholders, Basic	$ 54,767	$ 16,630	$ 139,909	$ 58,748
Noncontrolling Interest, Change in Redemption Value	(7,333)		(16,056)	(11,742)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	0	0	(9)
Noncontrolling Interest, Period Increase (Decrease)	$ (7,333)	$ (5,916)	$ (16,056)	$ (11,742)
Weighted Average Number of Shares Outstanding, Basic	20,224,102	20,181,793	20,216,981	20,198,474
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	272,768	223,909	245,875	205,861
Weighted Average Number of Shares Outstanding, Diluted	20,496,870	20,405,702	20,462,856	20,404,335
Earnings Per Share, Basic	$ 2.71	$ 0.82	$ 6.92	$ 2.91
Earnings Per Share, Diluted	$ 2.67	$ 0.81	$ 6.84	$ 2.88
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 62,100	$ 22,546	$ 155,965	$ 70,499
Phantom Share Units (PSUs) [Member]
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	187	2,937	796	0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	187	2,937	796	0

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	11. COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, we are a party to various claims, lawsuits and other legal proceedings that arise in the ordinary course of business. We maintain various insurance coverages to minimize financial risk associated with these proceedings. None of these proceedings, separately or in the aggregate, are expected to have a material adverse effect on our financial position, results of operations or cash flows. With respect to all such proceedings, we record reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. We expense routine legal costs related to these proceedings as they are incurred. In the course of performing work as a subcontractor, from time to time we may be involved in projects which are the subject of contractual disputes between the general contractor and project owner, or between us and the general contractor. In such cases, payment of amounts owed to us by the general contractor may be delayed as contractual disputes are resolved through mediation, arbitration, or litigation. Such disputes may cause us to incur legal fees and other expenses to enforce our contractual rights, and we may not prevail in recovering all amounts to which we believe we are contractually entitled. Risk Management We retain the risk for workers’ compensation, employer’s liability, automobile liability, construction defects, general liability and employee group health claims, as well as pollution coverage, resulting from uninsured deductibles per accident or occurrence which are generally subject to annual aggregate limits. Our general liability program provides coverage for bodily injury and property damage. In many cases, we insure third parties, including general contractors, as additional insured parties under our insurance policies. Losses are accrued based upon our known claims incurred and an estimate of claims incurred but not reported. As a result, many of our claims are effectively self-insured. Many claims against our insurance are in the form of litigation. At June 30, 2024 and September 30, 2023, we had $11,122 and $7,726, respectively, accrued for self-insurance liabilities. Because the reserves are based on judgment and estimates and involve variables that are inherently uncertain, such as the outcome of litigation and an assessment of insurance coverage, there can be no assurance that the ultimate liability will not be higher or lower than such estimates. Some of the underwriters of our casualty insurance program require us to post letters of credit as collateral. This is common in the insurance industry. To date, we have not had a situation where an underwriter has had reasonable cause to effect payment under a letter of credit. At June 30, 2024 and September 30, 2023, $5,606 and $4,166, respectively, of our outstanding letters of credit was utilized to collateralize our insurance program. Surety As of June 30, 2024, the estimated cost to complete our bonded projects was approximately $141,933. We evaluate our bonding requirements on a regular basis, including the terms offered by our sureties. We believe the bonding capacity presently provided by our current sureties is adequate for our current operations and will be adequate for our operations for the foreseeable future. Other Commitments and Contingencies Some of our customers and vendors require us to post letters of credit, or provide intercompany guarantees, as a means of guaranteeing performance under our contracts and ensuring payment by us to subcontractors and vendors. If our customer has reasonable cause to effect payment under a letter of credit, we would be required to reimburse our creditor for the letter of credit. From time to time, we may enter into firm purchase commitments for materials, such as copper or aluminum wire, which we expect to use in the ordinary course of business. These commitments are typically for terms of less than one year and require us to buy minimum quantities of materials at specific intervals at a fixed price over the term. As of June 30, 2024, we did not have any such firm commitments to purchase materials outstanding.

Goodwill and Intangible Assets Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 111,205	$ 111,445
Finite-Lived Intangible Assets, Accumulated Amortization	(61,697)	(55,237)
Intangible Assets, Net (Excluding Goodwill)	49,508	56,208
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	13,821	14,621
Finite-Lived Intangible Assets, Accumulated Amortization	(6,568)	(6,973)
Intangible Assets, Net (Excluding Goodwill)	$ 7,253	$ 7,648
Trademarks and Trade Names [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years	5 years
Trademarks and Trade Names [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Technical Library
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Finite-Lived Intangible Assets, Gross	$ 400	$ 400
Finite-Lived Intangible Assets, Accumulated Amortization	(216)	(201)
Intangible Assets, Net (Excluding Goodwill)	184	199
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	92,926	91,426
Finite-Lived Intangible Assets, Accumulated Amortization	(51,497)	(43,065)
Intangible Assets, Net (Excluding Goodwill)	$ 41,429	$ 48,361
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years	6 years
Customer Relationships [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years	15 years
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years	5 years
Finite-Lived Intangible Assets, Gross	$ 40	$ 40
Finite-Lived Intangible Assets, Accumulated Amortization	(40)	(40)
Intangible Assets, Net (Excluding Goodwill)	$ 0	$ 0
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year	1 year
Finite-Lived Intangible Assets, Gross	$ 4,018	$ 4,958
Finite-Lived Intangible Assets, Accumulated Amortization	(3,376)	(4,958)
Intangible Assets, Net (Excluding Goodwill)	$ 642	$ 0

Goodwill and Intangible Assets (Tables)

9 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The following summarizes changes in the carrying value of goodwill by segment during the nine months ended June 30, 2024:


	Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Goodwill at September 30, 2023	$	2,816	$	51,370	$	38,209	$	—	$	92,395
Acquisitions	—		—		2,148		—		2,148



Goodwill at June 30, 2024	$	2,816	$	51,370	$	40,357	$	—	$	94,543

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Intangible assets consist of the following:


	Estimated Useful Lives (in Years)			June 30, 2024
					Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20		$	13,821	$	(6,568)		$	7,253
Technical library	20				400		(216)			184
Customer relationships	6	-	15		92,926		(51,497)			41,429
Non-competition arrangements	5				40		(40)			—
Backlog and construction contracts	1				4,018		(3,376)			642
Total intangible assets					$	111,205	$	(61,697)		$	49,508


	Estimated Useful Lives (in Years)			September 30, 2023
					Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20		$	14,621	$	(6,973)		$	7,648
Technical library	20				400		(201)			199
Customer relationships	6	-	15		91,426		(43,065)			48,361
Non-competition arrangements	5				40		(40)			—
Backlog and construction contracts	1				4,958		(4,958)			—
Total intangible assets					$	111,445	$	(55,237)		$	56,208

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 768,415	$ 584,451	$ 2,108,592	$ 1,728,206
Cost of services	573,634	476,842	1,598,394	1,424,233
Gross profit	194,781	107,609	510,198	303,973
Selling, general and administrative expenses	104,694	74,300	285,816	211,417
Contingent consideration	43	70	78	208
Loss (gain) on sale of assets	(132)	(1,080)	(1,576)	(14,242)
Operating income (loss)	90,176	34,319	225,880	106,590
Interest expense	395	391	1,198	2,624
Other (income) expense, net	570	(189)	313	(1,262)
Income (loss) from operations before income taxes	89,211	34,117	224,369	105,228
Provision for (benefit from) income taxes	22,572	8,263	57,342	26,448
Net income (loss)	66,639	25,854	167,027	78,780
Net income attributable to noncontrolling interest	(4,539)	(3,308)	(11,062)	(8,281)
Net Income (Loss) Available to Common Stockholders, Basic	$ 62,100	$ 22,546	$ 155,965	$ 70,499
Earnings Per Share, Basic	$ 2.71	$ 0.82	$ 6.92	$ 2.91
Earnings Per Share, Diluted	$ 2.67	$ 0.81	$ 6.84	$ 2.88
Weighted Average Number of Shares Outstanding, Basic	20,224,102	20,181,793	20,216,981	20,198,474
Weighted Average Number of Shares Outstanding, Diluted	20,496,870	20,405,702	20,462,856	20,404,335

Business Combinations and Asset Acquisitions (Details) $ in Thousands		6 Months Ended	9 Months Ended
	Apr. 01, 2024 USD ($)	Mar. 31, 2024 business	Jun. 30, 2024 USD ($) business	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 94,543	$ 92,395
Number of Businesses Acquired \| business		0	0
Goodwill, Acquired During Period			$ 2,148
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases			2,790
Greiner Industries
Business Acquisition [Line Items]
Goodwill	$ 2,148
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(4,899)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	70,488
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	22,561
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	47,678
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	3,000
Business Combination, Consideration Transferred	$ 70,488
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 4 months 24 days
Goodwill, Acquired During Period			2,148
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 2,148
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	5,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases			$ 2,790
Acquired Indefinite-Lived Intangible Assets [Line Items]
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 2,148