IES (IESC) 10-Q 10 May 23 2023 Q2 Quarterly report Financial data

DEI Document

DEI Document - shares	6 Months Ended
	Mar. 31, 2023	May 05, 2023
Entity Information [Line Items]
Entity File Number	001-13783
Entity Registrant Name	IES Holdings, Inc.
Document Period End Date	Mar. 31, 2023
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	2023
Document Fiscal Period Focus	Q2
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		20,171,287

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 15,129	$ 24,848
Accounts receivable	330,643	370,726
Accounts and Other Receivables, Net, Current	73,965	65,065
Inventories	106,311	96,333
Costs and estimated earnings in excess of billings	47,956	52,076
Prepaid expenses and other current assets	17,930	15,350
Total current assets	591,934	624,398
Property and equipment, net	55,073	54,426
Goodwill	92,395	92,395
Intangible assets, net	63,592	71,936
Deferred tax assets	15,438	20,519
Operating right of use assets	54,206	55,890
Other non-current assets	16,450	15,145
Total assets	889,088	934,709
Accounts payable and accrued expenses	278,138	316,950
Billings in excess of costs and estimated earnings	94,829	84,936
Total current liabilities	372,967	401,886
Long-term debt	14,173	81,628
Operating long-term lease liabilities	36,684	38,144
Other non-current liabilities	30,920	22,570
Total liabilities	454,744	544,228
Noncontrolling interest	36,593	29,193
Preferred stock, value	0	0
Common stock, value	220	220
Treasury stock, value	(49,751)	(44,000)
Additional paid-in capital	201,958	201,871
Retained earnings	245,324	203,197
Total stockholders' equity	397,751	361,288
Total liabilities and stockholders' equity	$ 889,088	$ 934,709

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ (3,757)	$ (5,361)
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	20,171,521	20,341,900
Treasury Stock, Shares	1,878,008	1,707,629

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues	$ 568,881	$ 501,593	$ 1,143,755	$ 982,102
Cost of services	467,955	443,086	947,391	843,868
Gross profit	100,926	58,507	196,364	138,234
Selling, general and administrative expenses	69,349	63,430	137,117	122,832
Contingent consideration	69	69	138	138
Loss (gain) on sale of assets	(102)	(68)	(13,162)	(73)
Operating income (loss)	31,610	(4,924)	72,271	15,337
Interest expense	1,049	543	2,233	979
Other (income) expense, net	(1,768)	(124)	(1,073)	641
Income (loss) from operations before income taxes	32,329	(5,343)	71,111	13,717
Provision for (benefit from) income taxes	8,157	(1,293)	18,185	2,688
Net income (loss)	24,172	(4,050)	52,926	11,029
Net income attributable to noncontrolling interest	(2,621)	(1,362)	(4,973)	(1,977)
Comprehensive income attributable to IES Holdings, Inc.	$ 21,551	$ (5,412)	$ 47,953	$ 9,052
Earnings Per Share, Basic	$ 0.93	$ (0.30)	$ 2.08	$ 0.39
Earnings Per Share, Diluted	$ 0.92	$ (0.30)	$ 2.06	$ 0.38
Weighted Average Number of Shares Outstanding, Basic	20,170,824	20,772,426	20,206,814	20,737,253
Weighted Average Number of Shares Outstanding, Diluted	20,387,796	20,772,426	20,414,492	21,139,429

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common
Stockholders' Equity Attributable to Parent at Sep. 30, 2021	$ 345,953	$ 220	$ 201,899	$ 173,134	$ (29,300)
Shares, Issued at Sep. 30, 2021		22,049,529			1,316,998
Issuances under compensation plans			(3,638)		$ (3,638)
Issuances under compensation plans, shares					157,167
Acquisition of treasury stock	4,925		0		$ 4,925
Acquisition of treasury stock, shares					(104,200)
Non-cash compensation	(1,898)		(1,898)
Noncontrolling Interest, Change in Redemption Value	(930)			(930)
Net income (loss) attributable to IES Holdings, Inc.	9,052			9,052
Stockholders' Equity Attributable to Parent at Mar. 31, 2022	351,048	$ 220	200,159	181,256	$ (30,587)
Shares, Issued at Mar. 31, 2022		22,049,529			1,264,031
Stockholders' Equity Attributable to Parent at Dec. 31, 2021	356,460	$ 220	199,162	187,538	$ (30,460)
Shares, Issued at Dec. 31, 2021		22,049,529			1,261,444
Acquisition of treasury stock	127		0		$ 127
Acquisition of treasury stock, shares					(2,587)
Non-cash compensation	(997)		(997)
Noncontrolling Interest, Change in Redemption Value	(870)			(870)
Net income (loss) attributable to IES Holdings, Inc.	(5,412)			(5,412)
Stockholders' Equity Attributable to Parent at Mar. 31, 2022	351,048	$ 220	200,159	181,256	$ (30,587)
Shares, Issued at Mar. 31, 2022		22,049,529			1,264,031
Stockholders' Equity Attributable to Parent at Sep. 30, 2022	361,288	$ 220	201,871	203,197	$ (44,000)
Shares, Issued at Sep. 30, 2022		22,049,529			1,707,629
Issuances under compensation plans			(1,843)		$ (1,843)
Issuances under compensation plans, shares					71,013
Acquisition of treasury stock	7,637		(10)		$ 7,647
Acquisition of treasury stock, shares					(243,392)
Options exercised	14		39		$ 53
Options exercised, shares					2,000
Non-cash compensation	(1,959)		(1,959)
Noncontrolling Interest, Change in Redemption Value	(5,826)			(5,826)
Net income (loss) attributable to IES Holdings, Inc.	47,953			47,953
Stockholders' Equity Attributable to Parent at Mar. 31, 2023	397,751	$ 220	201,958	245,324	$ (49,751)
Shares, Issued at Mar. 31, 2023		22,049,529			1,878,008
Stockholders' Equity Attributable to Parent at Dec. 31, 2022	378,051	$ 220	200,940	226,544	$ (49,653)
Shares, Issued at Dec. 31, 2022		22,049,529			1,875,676
Acquisition of treasury stock	148		(3)		$ 151
Acquisition of treasury stock, shares					(4,332)
Options exercised	14		39		$ 53
Options exercised, shares					2,000
Non-cash compensation	(1,054)		(1,054)
Noncontrolling Interest, Change in Redemption Value	(2,771)			(2,771)
Net income (loss) attributable to IES Holdings, Inc.	21,551			21,551
Stockholders' Equity Attributable to Parent at Mar. 31, 2023	$ 397,751	$ 220	$ 201,958	$ 245,324	$ (49,751)
Shares, Issued at Mar. 31, 2023		22,049,529			1,878,008

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Cash Flows [Abstract]
Net income (loss)	$ 52,926	$ 11,029
Bad debt expense	330	92
Deferred financing cost amortization	132	88
Depreciation and amortization	13,252	12,370
Gain (Loss) on Disposition of Property Plant Equipment	(13,162)	(73)
Gain (Loss) on Sale of Investments [Abstract]
Non-cash compensation expense	1,956	1,898
Deferred income taxes	6,955	1,931
Accounts receivable	35,660	(22,830)
Inventories	(11,798)	(17,325)
Costs and estimated earnings in excess of billings	4,120	(12,128)
Prepaid expenses and other current assets	(11,672)	(3,795)
Other non-current assets	1,728	(1,968)
Accounts payable and accrued expenses	(30,454)	26,911
Billings in excess of costs and estimated earnings	10,109	1,134
Other non-current liabilities	(23)	(242)
Net cash provided by operating activities	60,059	(2,908)
Capital expenditures	(6,677)	(21,627)
Proceeds from sale of assets	19,124	199
Cash paid in conjunction with business combinations	(165)	(500)
Net cash used in investing activities	12,282	(21,928)
Borrowings of debt	1,162,971	872,609
Repayments of debt	(1,230,519)	(842,727)
Cash paid for finance leases	(1,617)	(603)
Distribution to noncontrolling interest	(5,272)	(3,344)
Purchase of treasury stock	(7,637)	(4,925)
Options exercised	14	0
Net cash used in financing activities	(82,060)	21,010
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(9,719)	(3,826)
CASH, CASH EQUIVALENTS, beginning of period	24,848	23,105
CASH, CASH EQUIVALENTS, end of period	15,129	19,279
Cash paid for interest	1,765	949
Cash paid for income taxes (net)	$ 4,660	$ 2,142

Business

Business	6 Months Ended
	Mar. 31, 2023
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, 2022. 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. The purchase price is variable, based on a multiple of earnings as defined in the operating agreements. Therefore, this noncontrolling interest is carried at the greater of the balance determined under Accounting Standards Codification 810 and the redemption amounts assuming the noncontrolling interests were redeemable at the balance sheet date. If all of the noncontrolling interests remaining outstanding at March 31, 2023 had been redeemable at that date, the redemption amount would have been $36,593. 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 and analyzing goodwill, investments, intangible assets and long-lived asset impairments and adjustments, allowance for credit losses, stock-based compensation, reserves for legal matters, realizability of deferred tax assets, unrecognized tax benefits and self-insured claims liabilities and related reserves. Other (Income) Expense, Net Other (Income) Expense, Net includes primarily unrealized gains or losses on equity securities, including those related to our Executive Deferred Compensation Plan. These securities are recorded at fair value (Level 1) at the end of each reporting period. Please refer to Note 8 - Fair Value Measurements for further information.

Controlling Shareholder

Controlling Shareholder	6 Months Ended
	Mar. 31, 2023
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 58 percent of the Company’s outstanding common stock based on Amendment No. 26 to the Schedule 13D filed by Tontine with the SEC on December 16, 2022 and the Company's shares outstanding as of May 5, 2023. 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 ownership of IES could occur. A change in ownership, as defined by Internal Revenue Code Section 382, could reduce the availability of the Company’s net operating loss carryforwards for federal and state income tax purposes. Furthermore, 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. In December 2022, the Company entered into an amendment of the sublease agreement, which was set to terminate on February 28, 2023, to extend the term of the agreement through August 31, 2024 and to increase the monthly payments from approximately $8 to approximately $9 effective March 1, 2023. 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

Revenue Recognition

Revenue Recognition	6 Months Ended
	Mar. 31, 2023
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 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 segment, 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 we have the right to bill the customer as costs are incurred. Such assessment involves an evaluation of contractual termination clauses. Where 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 fixed price arrangements, 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. 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 and performance obligation. We estimate variable consideration for a performance obligation 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 six months ended March 31, 2023 and 2022 was derived from the following activities. See details in the following tables: Three Months Ended March 31, Six Months Ended March 31, 2023 2022 2023 2022 Communications $ 141,120 $ 130,639 $ 288,365 $ 258,028 Residential Single-family 211,426 192,368 438,254 365,896 Multi-family and Other 94,686 68,038 185,936 136,286 Total Residential 306,112 260,406 624,190 502,182 Infrastructure Solutions Industrial Services 11,562 15,837 22,516 30,653 Custom Power Solutions 41,054 25,896 79,384 53,176 Total Infrastructure Solutions 52,616 41,733 101,900 83,829 Commercial & Industrial 69,033 68,815 $ 129,300 $ 138,063 Total Revenue $ 568,881 $ 501,593 $ 1,143,755 $ 982,102 Three Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 92,392 $ 306,112 $ 50,951 $ 62,954 $ 512,409 Time-and-material 48,728 — 1,665 6,079 56,472 Total revenue $ 141,120 $ 306,112 $ 52,616 $ 69,033 $ 568,881 Three Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 85,722 $ 260,406 $ 39,924 $ 64,346 $ 450,398 Time-and-material 44,917 — 1,809 4,469 51,195 Total revenue $ 130,639 $ 260,406 $ 41,733 $ 68,815 $ 501,593 Six Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 179,666 $ 624,190 $ 98,497 $ 117,551 $ 1,019,904 Time-and-material 108,699 — 3,403 11,749 123,851 Total revenue $ 288,365 $ 624,190 $ 101,900 $ 129,300 $ 1,143,755 Six Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 174,144 $ 502,182 $ 80,377 $ 129,206 $ 885,909 Time-and-material 83,884 — 3,452 8,857 96,193 Total revenue $ 258,028 $ 502,182 $ 83,829 $ 138,063 $ 982,102 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 March 31, 2023, Accounts receivable included $11,608 of unbilled receivables for which we have an unconditional right to bill. In calculating our expected credit losses, we considered trade receivables, retainage, and costs and estimated earnings in excess of billings, all of which constitute a homogenous portfolio, and therefore, to measure the expected credit loss, they have been grouped together. We have elected to calculate an expected credit loss based on loss rates from historical data. Each segment groups financial assets with similar risk characteristics and collectively assesses the expected credit losses. If an individual asset experiences credit deterioration to the extent the credit risk is no longer characteristic of the other assets in the group, it will be analyzed individually. The loss rates for our portfolios include our history of credit loss expense, the aging of our receivables, our expectation of payments and adjustment for forward-looking factors specific to the macroeconomic trends in the markets we serve. Other than trade receivables due in one year or less, we do not have any other financial assets that are past due or are on non-accrual status. 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 Sheet 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 Sheet under the caption “Billings in excess of costs and estimated earnings”. During the six months ended March 31, 2023 and 2022, we recognized revenue of $52,350 and $45,115 related to our contract liabilities at October 1, 2022 and 2021, 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 March 31, 2023, we had remaining performance obligations of $1,012,111. The Company expects to recognize revenue on approximately $833,212 of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter. For the three and six months ended March 31, 2023, net revenue recognized from our performance obligations satisfied in previous periods was not material.

Debt

Debt	6 Months Ended
	Mar. 31, 2023
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, 2022. As of March 31, 2023, the Company was in compliance with the financial covenants under the Amended Credit Agreement. At March 31, 2023 and September 30, 2022, we had $15,111 and $82,659, respectively, in borrowings outstanding under our revolving credit facility. At March 31, 2023, we also had $4,366 in outstanding letters of credit and total availability of $127,834 under our revolving credit facility without triggering the financial covenants under the Amended Credit Facility.

Per Share Information

Per Share Information	6 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	5. PER SHARE INFORMATION The following tables reconcile the components of basic and diluted earnings (loss) per share for the three and six months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 Numerator: Net income (loss) attributable to IES Holdings, Inc. $ 21,551 $ (5,412) Increase in noncontrolling interest (2,771) (870) Net income attributable to restricted stockholders of IES Holdings, Inc. — — Net income (loss) attributable to common stockholders of IES Holdings, Inc. $ 18,780 $ (6,282) Denominator: Weighted average common shares outstanding — basic 20,170,824 20,772,426 Effect of dilutive stock options and non-vested securities 216,972 — Weighted average common and common equivalent shares outstanding — diluted 20,387,796 20,772,426 Earnings (loss) per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 0.93 $ (0.30) Diluted $ 0.92 $ (0.30) Six Months Ended March 31, 2023 2022 Numerator: Net income attributable to IES Holdings, Inc. $ 47,953 $ 9,052 Increase in noncontrolling interest (5,826) (930) Net income attributable to restricted stockholders of IES Holdings, Inc. (10) (6) Net income attributable to common stockholders of IES Holdings, Inc. $ 42,117 $ 8,116 Denominator: Weighted average common shares outstanding — basic 20,206,814 20,737,253 Effect of dilutive stock options and non-vested securities 207,678 402,176 Weighted average common and common equivalent shares outstanding — diluted 20,414,492 21,139,429 Earnings per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 2.08 $ 0.39 Diluted $ 2.06 $ 0.38

Operating Segments

Operating Segments	6 Months Ended
	Mar. 31, 2023
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 Company’s Chief Operating Decision Maker (“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 six months ended March 31, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 141,120 $ 306,112 $ 52,616 $ 69,033 $ — $ 568,881 Cost of services 115,957 251,281 38,421 62,296 — 467,955 Gross profit 25,163 54,831 14,195 6,737 — 100,926 Selling, general and administrative 13,386 37,999 5,990 6,400 5,574 69,349 Contingent consideration — 69 — — — 69 Gain on sale of assets (3) — — (99) — (102) Operating income (loss) $ 11,780 $ 16,763 $ 8,205 $ 436 $ (5,574) $ 31,610 Other data: Depreciation and amortization expense $ 502 $ 4,557 $ 1,326 $ 412 $ 67 $ 6,864 Capital expenditures $ 480 $ 2,379 $ 560 $ 546 $ — $ 3,965 Total assets $ 188,937 $ 389,946 $ 173,621 $ 87,721 $ 48,863 $ 889,088 Three Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 130,639 $ 260,406 $ 41,733 $ 68,815 $ — $ 501,593 Cost of services 119,518 214,862 34,672 74,034 — 443,086 Gross profit (loss) 11,121 45,544 7,061 (5,219) — 58,507 Selling, general and administrative 10,978 33,576 6,391 8,448 4,037 63,430 Contingent consideration — 69 — — — 69 Gain on sale of assets (7) — (28) (33) — (68) Operating income (loss) $ 150 $ 11,899 $ 698 $ (13,634) $ (4,037) $ (4,924) Other data: Depreciation and amortization expense $ 362 $ 3,721 $ 1,385 $ 647 $ 41 $ 6,156 Capital expenditures $ 750 $ 6,707 $ 823 $ 840 $ 168 $ 9,288 Total assets $ 171,929 $ 363,921 $ 150,276 $ 99,262 $ 45,851 $ 831,239

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2023
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 608,610 shares were available for issuance at March 31, 2023. Stock Repurchase Program In 2015, our Board authorized a stock repurchase program for the purchase from time to time of up to 1.5 million shares of the Company’s common stock, and in 2019 authorized the repurchase from time to time of up to an additional 1.0 million shares under the program. In December 2022, our Board terminated the remaining authorization under this program, and approved a new $40,000 share 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 4,048 and 223,779 shares, respectively, of our common stock during the three and six months ended March 31, 2023 in open market transactions at an average price of $34.97 and $31.05, respectively, per share. During the three and six months ended March 31, 2022, we repurchased 2,587 and 59,002 shares, respectively, of our common stock in open market transactions at an average price of $49.00 and $46.81, respectively, per share. Treasury Stock During the six months ended March 31, 2023, we issued 71,013 shares of common stock from treasury stock to employees and repurchased 19,347 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 six months ended March 31, 2023, we issued 2,000 unrestricted shares to satisfy the exercise of outstanding options. During the six months ended March 31, 2022, we issued 73,627 shares of common stock from treasury stock to employees and repurchased 45,198 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, we issued 83,540 shares from treasury stock to satisfy the vesting of Director PSUs (as defined below) in conjunction with the departure of a Board member. Restricted Stock We granted no restricted shares to executives during the six months ended March 31, 2023. Of the awards previously granted, 13,373 shares vested and 266 shares were forfeited. We did not recognize any compensation expense related to restricted stock awards during the three months ended March 31, 2023, and during the three months ended March 31, 2022 we recognized $36 in compensation expense related to restricted stock awards. During the six months ended March 31, 2023 and 2022, we recognized $25 and $71, respectively, in compensation expense related to restricted stock awards. At March 31, 2023, we had no remaining unvested restricted shares or unamortized compensation cost related to outstanding unvested restricted stock. 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. We recognized compensation expense related to these grants of $94 and $96 during the three months ended March 31, 2023 and 2022, respectively, and $190 and $193 during the six months ended March 31, 2023 and 2022, respectively. 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 March 31, 2023, the Company had outstanding Employee PSUs, which, subject to the achievement of certain performance metrics, could result in the issuance of 362,802 shares of common stock. During the six months ended March 31, 2023, we granted 130,739 Employee PSUs, 12,885 were forfeited, and 71,013 vested. During the three months ended March 31, 2023 and 2022, we recognized $958 and $864, respectively, in compensation expense related to Employee PSU grants. During the six months ended March 31, 2023 and 2022, we recognized $1,740 and $1,632, respectively, in compensation expense related to Employee PSU grants.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2023
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 March 31, 2023, financial assets and liabilities measured at fair value on a recurring basis were limited to 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), equity securities held for sale, and contingent consideration liabilities related to certain of our acquisitions. Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and September 30, 2022, are summarized in the following tables by the type of inputs applicable to the fair value measurements: March 31, 2023 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 783 $ 783 $ — Equity securities 288 288 — Executive savings plan liabilities (658) (658) — Contingent consideration liability (4,394) — (4,394) Total $ (3,981) $ 413 $ (4,394) September 30, 2022 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 706 $ 706 $ — Equity securities 1,937 1,937 — Executive savings plan liabilities (585) (585) — Contingent consideration liability (4,323) — (4,323) Total $ (2,265) $ 2,058 $ (4,323) In fiscal year 2021, we entered into a contingent consideration arrangement related to the acquisition of Bayonet. At March 31, 2023, we estimated the fair value of this contingent consideration liability at $4,394. The table below presents the change in fair value of this obligation, which used significant unobservable inputs (Level 3). Contingent Consideration Agreements Fair value at September 30, 2022 $ (4,323) Net adjustments to fair value (71) Fair value at March 31, 2023 $ (4,394)

Inventory

Inventory	6 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	9. INVENTORY Inventories consist of the following components: March 31, September 30, 2023 2022 Raw materials $ 13,356 $ 12,504 Work in process 11,795 8,218 Finished goods 2,325 2,129 Parts and supplies 78,835 73,482 Total inventories $ 106,311 $ 96,333

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	10. GOODWILL AND INTANGIBLE ASSETS Goodwill The following summarizes the carrying value of goodwill by segment at March 31, 2023, which was unchanged from September 30, 2022: Communications Residential Infrastructure Solutions Commercial & Industrial Total Goodwill at March 31, 2023 $ 2,816 $ 51,370 $ 38,209 $ — $ 92,395 Intangible Assets Intangible assets consist of the following: Estimated Useful Lives (in Years) March 31, 2023 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 14,621 $ (5,014) $ 9,607 Technical library 20 400 (191) 209 Customer relationships 6 - 15 91,426 (37,653) 53,773 Non-competition arrangements 5 40 (37) 3 Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 111,445 $ (47,853) $ 63,592 Estimated Useful Lives (in Years) September 30, 2022 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 15,262 $ (4,589) $ 10,673 Technical library 20 400 (181) 219 Customer relationships 6 - 15 96,699 (35,662) 61,037 Non-competition arrangements 5 40 (33) 7 Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 117,359 $ (45,423) $ 71,936

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2023
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. On June 22, 2021, the United States Department of Labor Wage and Hour Division (the “DOL”) notified IES Residential, Inc. (“IESR”), a wholly-owned subsidiary of the Company, that the DOL had commenced an administrative investigation of IESR’s compliance with laws regulating employee wage payment. The inquiry concerned record keeping with respect to certain Arizona employees who are paid on a piece rate basis. We entered into a settlement with the DOL in November 2022, resolving this matter. Costs associated with this matter, which did not have a material impact on our results of operations, were accrued as a liability as of September 30, 2022. 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. At September 30, 2022, we had an aggregate $10,451 of trade accounts receivable where payment had been delayed as a result of contractual disputes and against which we had recorded a reserve of $3,095. During the six months ended March 31, 2023, we collected $5,140 related to these receivables. We believe that we are contractually entitled to the remaining amounts owed to us, and intend to vigorously pursue recovery. At March 31, 2023, the remaining book value of receivables and retainage related to these contractual disputes, net of associated reserves, was $1,893. 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 March 31, 2023 and September 30, 2022, we had $7,632 and $7,693, 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 or that the timing of payments will not create liquidity issues for the Company. 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 March 31, 2023 and September 30, 2022, $4,166 and $3,878, respectively, of our outstanding letters of credit was utilized to collateralize our insurance program. Surety As of March 31, 2023, the estimated cost to complete our bonded projects was approximately $129,521. 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.

Leases

Leases	6 Months Ended
	Mar. 31, 2023
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 $17,227 and $4,040, respectively, as of March 31, 2023, and $17,319 and $2,928, respectively, as of September 30, 2022, 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 March 31, 2023 are as follows: Operating Leases Finance Leases Total Remainder of 2023 $ 13,524 $ 3,169 $ 16,693 2024 15,081 4,180 19,261 2025 11,570 3,832 15,402 2026 8,064 2,659 10,723 2027 4,742 982 5,724 Thereafter 7,290 10 7,300 Total undiscounted lease payments $ 60,271 $ 14,832 $ 75,103 Less: imputed interest 6,360 1,751 8,111 Present value of lease liabilities $ 53,911 $ 13,081 $ 66,992 The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of March 31, 2023 is $4,704. Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows: Three Months Ended Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating lease cost $ 4,407 $ 4,157 $ 0 $ 9,333 $ 8,160 Finance lease cost Amortization of lease assets 1,011 332 1,686 603 Interest on lease liabilities 216 56 366 104 Finance lease cost 1,227 388 2,052 707 Short-term lease cost 513 491 1,102 776 Variable lease cost 661 485 1,074 957 Total lease cost $ 6,808 $ 5,521 $ 13,561 $ 10,600 Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows: Three Months Ended Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating cash flows used for operating leases $ 5,867 $ 5,111 $ 11,818 $ 9,351 Operating cash flows used for finance leases 216 56 366 104 Right-of-use assets obtained in exchange for new operating lease liabilities 2,872 3,984 9,191 11,499 Right-of-use assets obtained in exchange for new finance lease liabilities 1,882 1,328 4,826 2,582 March 31, 2023 September 30, 2022 Weighted-average remaining lease term - operating leases 4.6 years 4.8 years Weighted-average remaining lease term - finance leases 3.8 years 3.9 years Weighted-average discount rate - operating leases 4.1 % 4.0 % Weighted-average discount rate - finance leases 4.6 % 4.7 %
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 $17,227 and $4,040, respectively, as of March 31, 2023, and $17,319 and $2,928, respectively, as of September 30, 2022, 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 March 31, 2023 are as follows: Operating Leases Finance Leases Total Remainder of 2023 $ 13,524 $ 3,169 $ 16,693 2024 15,081 4,180 19,261 2025 11,570 3,832 15,402 2026 8,064 2,659 10,723 2027 4,742 982 5,724 Thereafter 7,290 10 7,300 Total undiscounted lease payments $ 60,271 $ 14,832 $ 75,103 Less: imputed interest 6,360 1,751 8,111 Present value of lease liabilities $ 53,911 $ 13,081 $ 66,992 The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of March 31, 2023 is $4,704. Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows: Three Months Ended Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating lease cost $ 4,407 $ 4,157 $ 0 $ 9,333 $ 8,160 Finance lease cost Amortization of lease assets 1,011 332 1,686 603 Interest on lease liabilities 216 56 366 104 Finance lease cost 1,227 388 2,052 707 Short-term lease cost 513 491 1,102 776 Variable lease cost 661 485 1,074 957 Total lease cost $ 6,808 $ 5,521 $ 13,561 $ 10,600 Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows: Three Months Ended Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating cash flows used for operating leases $ 5,867 $ 5,111 $ 11,818 $ 9,351 Operating cash flows used for finance leases 216 56 366 104 Right-of-use assets obtained in exchange for new operating lease liabilities 2,872 3,984 9,191 11,499 Right-of-use assets obtained in exchange for new finance lease liabilities 1,882 1,328 4,826 2,582 March 31, 2023 September 30, 2022 Weighted-average remaining lease term - operating leases 4.6 years 4.8 years Weighted-average remaining lease term - finance leases 3.8 years 3.9 years Weighted-average discount rate - operating leases 4.1 % 4.0 % Weighted-average discount rate - finance leases 4.6 % 4.7 %

Business Combinations and Dives

Business Combinations and Divestitures	6 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	13. BUSINESS COMBINATIONS AND DIVESTITURES We completed no acquisitions during the six months ended March 31, 2023 or during the year ended September 30, 2022. 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 six months ended March 31, 2023. The disposition of STR, which had operated as part of our Commercial & Industrial segment, will not have a material impact on our ongoing results of operations or financial position.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	Our consolidated revenue for the three and six months ended March 31, 2023 and 2022 was derived from the following activities. See details in the following tables: Three Months Ended March 31, Six Months Ended March 31, 2023 2022 2023 2022 Communications $ 141,120 $ 130,639 $ 288,365 $ 258,028 Residential Single-family 211,426 192,368 438,254 365,896 Multi-family and Other 94,686 68,038 185,936 136,286 Total Residential 306,112 260,406 624,190 502,182 Infrastructure Solutions Industrial Services 11,562 15,837 22,516 30,653 Custom Power Solutions 41,054 25,896 79,384 53,176 Total Infrastructure Solutions 52,616 41,733 101,900 83,829 Commercial & Industrial 69,033 68,815 $ 129,300 $ 138,063 Total Revenue $ 568,881 $ 501,593 $ 1,143,755 $ 982,102 Three Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 92,392 $ 306,112 $ 50,951 $ 62,954 $ 512,409 Time-and-material 48,728 — 1,665 6,079 56,472 Total revenue $ 141,120 $ 306,112 $ 52,616 $ 69,033 $ 568,881 Three Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 85,722 $ 260,406 $ 39,924 $ 64,346 $ 450,398 Time-and-material 44,917 — 1,809 4,469 51,195 Total revenue $ 130,639 $ 260,406 $ 41,733 $ 68,815 $ 501,593 Six Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 179,666 $ 624,190 $ 98,497 $ 117,551 $ 1,019,904 Time-and-material 108,699 — 3,403 11,749 123,851 Total revenue $ 288,365 $ 624,190 $ 101,900 $ 129,300 $ 1,143,755 Six Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 174,144 $ 502,182 $ 80,377 $ 129,206 $ 885,909 Time-and-material 83,884 — 3,452 8,857 96,193 Total revenue $ 258,028 $ 502,182 $ 83,829 $ 138,063 $ 982,102

Per Share Information (Tables)

Per Share Information (Tables)	6 Months Ended
	Mar. 31, 2023
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 (loss) per share for the three and six months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 Numerator: Net income (loss) attributable to IES Holdings, Inc. $ 21,551 $ (5,412) Increase in noncontrolling interest (2,771) (870) Net income attributable to restricted stockholders of IES Holdings, Inc. — — Net income (loss) attributable to common stockholders of IES Holdings, Inc. $ 18,780 $ (6,282) Denominator: Weighted average common shares outstanding — basic 20,170,824 20,772,426 Effect of dilutive stock options and non-vested securities 216,972 — Weighted average common and common equivalent shares outstanding — diluted 20,387,796 20,772,426 Earnings (loss) per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 0.93 $ (0.30) Diluted $ 0.92 $ (0.30) Six Months Ended March 31, 2023 2022 Numerator: Net income attributable to IES Holdings, Inc. $ 47,953 $ 9,052 Increase in noncontrolling interest (5,826) (930) Net income attributable to restricted stockholders of IES Holdings, Inc. (10) (6) Net income attributable to common stockholders of IES Holdings, Inc. $ 42,117 $ 8,116 Denominator: Weighted average common shares outstanding — basic 20,206,814 20,737,253 Effect of dilutive stock options and non-vested securities 207,678 402,176 Weighted average common and common equivalent shares outstanding — diluted 20,414,492 21,139,429 Earnings per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 2.08 $ 0.39 Diluted $ 2.06 $ 0.38

Operating Segments (Tables)

Operating Segments (Tables)	6 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Segment information for the three and six months ended March 31, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 141,120 $ 306,112 $ 52,616 $ 69,033 $ — $ 568,881 Cost of services 115,957 251,281 38,421 62,296 — 467,955 Gross profit 25,163 54,831 14,195 6,737 — 100,926 Selling, general and administrative 13,386 37,999 5,990 6,400 5,574 69,349 Contingent consideration — 69 — — — 69 Gain on sale of assets (3) — — (99) — (102) Operating income (loss) $ 11,780 $ 16,763 $ 8,205 $ 436 $ (5,574) $ 31,610 Other data: Depreciation and amortization expense $ 502 $ 4,557 $ 1,326 $ 412 $ 67 $ 6,864 Capital expenditures $ 480 $ 2,379 $ 560 $ 546 $ — $ 3,965 Total assets $ 188,937 $ 389,946 $ 173,621 $ 87,721 $ 48,863 $ 889,088 Three Months Ended March 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 130,639 $ 260,406 $ 41,733 $ 68,815 $ — $ 501,593 Cost of services 119,518 214,862 34,672 74,034 — 443,086 Gross profit (loss) 11,121 45,544 7,061 (5,219) — 58,507 Selling, general and administrative 10,978 33,576 6,391 8,448 4,037 63,430 Contingent consideration — 69 — — — 69 Gain on sale of assets (7) — (28) (33) — (68) Operating income (loss) $ 150 $ 11,899 $ 698 $ (13,634) $ (4,037) $ (4,924) Other data: Depreciation and amortization expense $ 362 $ 3,721 $ 1,385 $ 647 $ 41 $ 6,156 Capital expenditures $ 750 $ 6,707 $ 823 $ 840 $ 168 $ 9,288 Total assets $ 171,929 $ 363,921 $ 150,276 $ 99,262 $ 45,851 $ 831,239

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and September 30, 2022, are summarized in the following tables by the type of inputs applicable to the fair value measurements: March 31, 2023 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 783 $ 783 $ — Equity securities 288 288 — Executive savings plan liabilities (658) (658) — Contingent consideration liability (4,394) — (4,394) Total $ (3,981) $ 413 $ (4,394) September 30, 2022 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 706 $ 706 $ — Equity securities 1,937 1,937 — Executive savings plan liabilities (585) (585) — Contingent consideration liability (4,323) — (4,323) Total $ (2,265) $ 2,058 $ (4,323)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents the change in fair value of this obligation, which used significant unobservable inputs (Level 3). Contingent Consideration Agreements Fair value at September 30, 2022 $ (4,323) Net adjustments to fair value (71) Fair value at March 31, 2023 $ (4,394)

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following components: March 31, September 30, 2023 2022 Raw materials $ 13,356 $ 12,504 Work in process 11,795 8,218 Finished goods 2,325 2,129 Parts and supplies 78,835 73,482 Total inventories $ 106,311 $ 96,333

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	The following summarizes the carrying value of goodwill by segment at March 31, 2023, which was unchanged from September 30, 2022: Communications Residential Infrastructure Solutions Commercial & Industrial Total Goodwill at March 31, 2023 $ 2,816 $ 51,370 $ 38,209 $ — $ 92,395
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Intangible assets consist of the following: Estimated Useful Lives (in Years) March 31, 2023 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 14,621 $ (5,014) $ 9,607 Technical library 20 400 (191) 209 Customer relationships 6 - 15 91,426 (37,653) 53,773 Non-competition arrangements 5 40 (37) 3 Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 111,445 $ (47,853) $ 63,592 Estimated Useful Lives (in Years) September 30, 2022 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 15,262 $ (4,589) $ 10,673 Technical library 20 400 (181) 219 Customer relationships 6 - 15 96,699 (35,662) 61,037 Non-competition arrangements 5 40 (33) 7 Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 117,359 $ (45,423) $ 71,936

Leases (Tables)

Leases (Tables)	6 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The maturities of our lease liabilities as of March 31, 2023 are as follows: Operating Leases Finance Leases Total Remainder of 2023 $ 13,524 $ 3,169 $ 16,693 2024 15,081 4,180 19,261 2025 11,570 3,832 15,402 2026 8,064 2,659 10,723 2027 4,742 982 5,724 Thereafter 7,290 10 7,300 Total undiscounted lease payments $ 60,271 $ 14,832 $ 75,103 Less: imputed interest 6,360 1,751 8,111 Present value of lease liabilities $ 53,911 $ 13,081 $ 66,992
Lease, Cost	Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows: Three Months Ended Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating lease cost $ 4,407 $ 4,157 $ 0 $ 9,333 $ 8,160 Finance lease cost Amortization of lease assets 1,011 332 1,686 603 Interest on lease liabilities 216 56 366 104 Finance lease cost 1,227 388 2,052 707 Short-term lease cost 513 491 1,102 776 Variable lease cost 661 485 1,074 957 Total lease cost $ 6,808 $ 5,521 $ 13,561 $ 10,600
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 Six Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Operating cash flows used for operating leases $ 5,867 $ 5,111 $ 11,818 $ 9,351 Operating cash flows used for finance leases 216 56 366 104 Right-of-use assets obtained in exchange for new operating lease liabilities 2,872 3,984 9,191 11,499 Right-of-use assets obtained in exchange for new finance lease liabilities 1,882 1,328 4,826 2,582 March 31, 2023 September 30, 2022 Weighted-average remaining lease term - operating leases 4.6 years 4.8 years Weighted-average remaining lease term - finance leases 3.8 years 3.9 years Weighted-average discount rate - operating leases 4.1 % 4.0 % Weighted-average discount rate - finance leases 4.6 % 4.7 %

Business (Details)

Business (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Accounting Policies [Abstract]
Redeemable Noncontrolling Interest, Equity, Redemption Value	$ 36,593

Controlling Shareholder (Detail

Controlling Shareholder (Details) - USD ($) $ in Thousands	Dec. 01, 2022	Nov. 30, 2022	Mar. 31, 2023
Risks and Uncertainties [Abstract]
ControllingShareholderOwnershipPercentage			58%
Related Party Transaction, Purchases from Related Party	$ 9	$ 8

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Unbilled Receivables, Current	$ 11,608		$ 11,608
Costs and estimated earnings in excess of billings	47,956		47,956		$ 52,076
Billings in excess of costs and estimated earnings	(94,829)		(94,829)		$ (84,936)
Contract with Customer, Liability, Revenue Recognized			52,350	$ 45,115
Performance Obligation Next 12 Months	833,212		833,212
Revenue, Remaining Performance Obligation, Amount	1,012,111		1,012,111
Disaggregation of Revenue [Line Items]
Revenues	568,881	$ 501,593	1,143,755	982,102
Contract with Customer, Liability, Revenue Recognized			52,350	45,115
Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	69,033	68,815	129,300	138,063
Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	141,120	130,639	288,365	258,028
Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	52,616	41,733	101,900	83,829
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	306,112	260,406	624,190	502,182
Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	512,409	450,398	1,019,904	885,909
Fixed-price Contract [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	62,954	64,346	117,551	129,206
Fixed-price Contract [Member] | Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	92,392	85,722	179,666	174,144
Fixed-price Contract [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	50,951	39,924	98,497	80,377
Fixed-price Contract [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	306,112	260,406	624,190	502,182
Time-and-materials Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	56,472	51,195	123,851	96,193
Time-and-materials Contract [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	6,079	4,469	11,749	8,857
Time-and-materials Contract [Member] | Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	48,728	44,917	108,699	83,884
Time-and-materials Contract [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,665	1,809	3,403	3,452
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	11,562	15,837	22,516	30,653
Custom Power Solutions [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	41,054	25,896	79,384	53,176
Single Family Contracts [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	211,426	192,368	438,254	365,896
Multi Family and Other [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 94,686	$ 68,038	$ 185,936	$ 136,286

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-term debt	$ 14,173	$ 81,628
Letters of Credit Outstanding, Amount	4,366
Line of Credit Facility, Remaining Borrowing Capacity	127,834
Loans Payable to Bank, Noncurrent	15,111	$ 82,659
Line of Credit Facility, Maximum Borrowing Capacity	$ 150,000

Per Share Information (Details)

Per Share Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Undistributed Earnings (Loss) Available to Common Shareholders, Basic	$ 18,780	$ (6,282)	$ 42,117	$ 8,116
Noncontrolling Interest, Change in Redemption Value	(2,771)	(870)	(5,826)	(930)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	0	(10)	(6)
Net income (loss) attributable to IES Holdings, Inc.	$ 21,551	$ (5,412)	$ 47,953	$ 9,052
Weighted Average Number of Shares Outstanding, Basic	20,170,824	20,772,426	20,206,814	20,737,253
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	216,972	0	207,678	402,176
Weighted Average Number of Shares Outstanding, Diluted	20,387,796	20,772,426	20,414,492	21,139,429
Earnings Per Share, Basic	$ 0.93	$ (0.30)	$ 2.08	$ 0.39
Earnings Per Share, Diluted	$ 0.92	$ (0.30)	$ 2.06	$ 0.38

Operating Segments (Details)

Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Segment Reporting Information [Line Items]
Cost of services	$ 467,955	$ 443,086	$ 947,391	$ 843,868
Gross profit	100,926	58,507	196,364	138,234
Selling, general and administrative expenses	69,349	63,430	137,117	122,832
Contingent consideration	69	69	138	138
Loss (gain) on sale of assets	(102)	(68)	(13,162)	(73)
Operating income (loss)	31,610	(4,924)	72,271	15,337
Depreciation and amortization expense	6,864	6,156	13,252	12,370
Capital expenditures	3,965	9,288	6,677	21,627
Total assets	889,088	831,239	889,088	831,239	$ 934,709
Revenues	568,881	501,593	1,143,755	982,102
Commercial and Industrial [Member]
Segment Reporting Information [Line Items]
Cost of services	62,296	74,034	118,949	134,412
Gross profit	6,737	(5,219)	10,351	3,651
Selling, general and administrative expenses	6,400	8,448	12,089	15,716
Loss (gain) on sale of assets	(99)	(33)	(13,134)	(40)
Operating income (loss)	436	(13,634)	11,396	(12,025)
Depreciation and amortization expense	412	647	804	1,277
Capital expenditures	546	840	1,269	1,085
Total assets	87,721	99,262	87,721	99,262
Revenues	69,033	68,815	129,300	138,063
Communications [Member]
Segment Reporting Information [Line Items]
Cost of services	115,957	119,518	241,464	226,408
Gross profit	25,163	11,121	46,901	31,620
Selling, general and administrative expenses	13,386	10,978	25,683	22,363
Loss (gain) on sale of assets	(3)	(7)	(3)	(13)
Operating income (loss)	11,780	150	21,221	9,270
Depreciation and amortization expense	502	362	932	721
Capital expenditures	480	750	1,122	1,344
Total assets	188,937	171,929	188,937	171,929
Revenues	141,120	130,639	288,365	258,028
Infrastructure Solutions [Member]
Segment Reporting Information [Line Items]
Cost of services	38,421	34,672	77,238	69,048
Gross profit	14,195	7,061	24,662	14,781
Selling, general and administrative expenses	5,990	6,391	11,751	12,449
Contingent consideration		0
Loss (gain) on sale of assets	0	(28)	(19)	(28)
Operating income (loss)	8,205	698	12,930	2,360
Depreciation and amortization expense	1,326	1,385	2,680	2,728
Capital expenditures	560	823	1,199	11,139
Total assets	173,621	150,276	173,621	150,276
Revenues	52,616	41,733	101,900	83,829
Residential [Member]
Segment Reporting Information [Line Items]
Cost of services	251,281	214,862	509,740	414,000
Gross profit	54,831	45,544	114,450	88,182
Selling, general and administrative expenses	37,999	33,576	77,050	64,571
Contingent consideration	69	69	138	138
Loss (gain) on sale of assets	0	0	(6)	8
Operating income (loss)	16,763	11,899	37,268	23,465
Depreciation and amortization expense	4,557	3,721	8,701	7,573
Capital expenditures	2,379	6,707	3,087	7,891
Total assets	389,946	363,921	389,946	363,921
Revenues	306,112	260,406	624,190	502,182
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	5,574	4,037	10,544	7,733
Contingent consideration		0
Loss (gain) on sale of assets	0	0	0	0
Operating income (loss)	(5,574)	(4,037)	(10,544)	(7,733)
Depreciation and amortization expense	67	41	135	71
Capital expenditures	0	168	0	168
Total assets	48,863	45,851	48,863	45,851
Revenues	$ 0	$ 0	$ 0	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 01, 2022	Sep. 30, 2022	May 02, 2019	Sep. 30, 2017
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	$ 34.97	$ 49	$ 31.05	$ 46.81
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			19,347	45,198
Stock Repurchase Program, Authorized Amount					$ 40,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	608,610		608,610
Stock Repurchase Program, Number of Shares Authorized to be Repurchased							1,000,000	1,500,000
Treasury Stock Acquired, Average Cost Per Share	$ 34.97	$ 49	$ 31.05	$ 46.81
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			19,347	45,198
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 0	$ 36	$ 25	$ 71
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period			0
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, Vested in Period			13,373
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	0		0
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	$ 94	96	$ 190	$ 193
Stock Issued During Period, Shares, Treasury Stock Reissued				83,540
us-gaap_PhantomShareUnitsPSUsMember_Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 958	$ 864	$ 1,740	$ 1,632
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period			130,739
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period			12,885
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period			71,013
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	362,802		362,802
Stock Issued During Period, Shares, Treasury Stock Reissued			71,013	73,627
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period			12,885
Share-Based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Treasury Stock Reissued			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		3,000,000
Repurchase Agreements [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	4,048	2,587	223,779	59,002

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 783	$ 706
Investments, Fair Value Disclosure	288	1,937
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(658)	(585)
Business Combination, Contingent Consideration, Liability, Noncurrent	(4,394)	(4,323)
Fair Value, Net Asset (Liability)	(3,981)	(2,265)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	(71)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	783	706
Investments, Fair Value Disclosure	288	1,937
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(658)	(585)
Fair Value, Net Asset (Liability)	413	2,058
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	(4,394)	(4,323)
Fair Value, Net Asset (Liability)	$ (4,394)	$ (4,323)

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventory, Raw Materials, Gross	$ 13,356	$ 12,504
Inventory, Work in Process, Gross	11,795	8,218
Inventory, Finished Goods, Gross	2,325	2,129
Other Inventory, Gross	78,835	73,482
Inventory, Net	$ 106,311	$ 96,333

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets Goodwill (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Goodwill [Line Items]
Goodwill	$ 92,395
Goodwill	92,395
Commercial and Industrial [Member]
Goodwill [Line Items]
Goodwill	0
Goodwill	0
Residential [Member]
Goodwill [Line Items]
Goodwill	51,370
Goodwill	51,370
Infrastructure Solutions [Member]
Goodwill [Line Items]
Goodwill	38,209
Goodwill	38,209
Communications [Member]
Goodwill [Line Items]
Goodwill	2,816
Goodwill	$ 2,816

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets Intangibles (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 111,445	$ 117,359
Finite-Lived Intangible Assets, Accumulated Amortization	(47,853)	(45,423)
Intangible Assets, Net (Excluding Goodwill)	63,592	71,936
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	14,621	15,262
Finite-Lived Intangible Assets, Accumulated Amortization	(5,014)	(4,589)
Intangible Assets, Net (Excluding Goodwill)	$ 9,607	$ 10,673
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	(191)	(181)
Intangible Assets, Net (Excluding Goodwill)	209	219
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	91,426	96,699
Finite-Lived Intangible Assets, Accumulated Amortization	(37,653)	(35,662)
Intangible Assets, Net (Excluding Goodwill)	$ 53,773	$ 61,037
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	(37)	(33)
Intangible Assets, Net (Excluding Goodwill)	$ 3	$ 7
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year	1 year
Finite-Lived Intangible Assets, Gross	$ 4,958	$ 4,958
Finite-Lived Intangible Assets, Accumulated Amortization	(4,958)	(4,958)
Intangible Assets, Net (Excluding Goodwill)	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Trade accounts receivable		$ 3,095
Accrued Insurance, Current	$ 7,632	7,693
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 4,366
Long-Term Purchase Commitment, Period	12 months
Trade accounts receivable		3,095
Contracts Receivable, Claims and Uncertain Amounts		10,451
Proceeds from Sale and Collection of Receivables	$ 5,140
Revenue, Remaining Performance Obligation, Amount	1,012,111
Estimated cost of completion of bonded projects	129,521
Loss Contingency, Receivable	1,893
Estimated cost of completion of bonded projects	129,521
Purchase Commitment, Remaining Minimum Amount Committed	6,029
Insurance Related [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 4,166	$ 3,878

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Leases [Abstract]
Operating Lease, Liability, Current	$ 17,227		$ 17,227		$ 17,319
Finance Lease, Liability, Current	4,040		4,040		$ 2,928
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	13,524		13,524
Lessee, Operating Lease, Liability, Payments, Due Year Two	15,081		15,081
Lessee, Operating Lease, Liability, Payments, Due Year Three	11,570		11,570
Lessee, Operating Lease, Liability, Payments, Due Year Four	8,064		8,064
Lessee, Operating Lease, Liability, Payments, Due Year Five	4,742		4,742
Lessee, Operating Lease, Liability, Payments, Due after Year Five	7,290		7,290
Lessee, Operating Lease, Liability, Payments, Due	60,271		60,271
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	6,360		6,360
Operating Lease, Liability	53,911		53,911
Finance Lease, Liability, Payments, Due Next Twelve Months	3,169		3,169
Finance Lease, Liability, Payments, Due Year Two	4,180		4,180
Finance Lease, Liability, Payments, Due Year Three	3,832		3,832
Finance Lease, Liability, Payments, Due Year Four	2,659		2,659
Finance Lease, Liability, Payments, Due Year Five	982		982
Finance Lease, Liability, Payments, Due after Year Five	10		10
Finance Lease, Liability, Payment, Due	14,832		14,832
Finance Lease, Liability, Undiscounted Excess Amount	1,751		1,751
Finance Lease, Liability	13,081		13,081
Lessee, Total Lease, Liability, Payments, Remainder of Fiscal Year [Line Items]	16,693		16,693
Total Lease, Liability, Payments, Year Two	19,261		19,261
Total Lease, Liability, Payments, Year Three	15,402		15,402
Total Lease, Liability, Payments, Year Four	10,723		10,723
Total Lease, Liability, Payments, Year Five	5,724		5,724
Total Lease, Liability, Payments, Due After Year Five	7,300		7,300
Total Lease, Liability, Payments Due	75,103		75,103
Total Lease, Liability, Undiscounted Excess Amount	8,111		8,111
Total Lease, Liability	66,992		66,992
Lessee, Operating Lease, Lease Not yet Commenced, Description	4,704		4,704
Operating Lease, Cost	4,407	$ 4,157	9,333	$ 8,160
Finance Lease, Right-of-Use Asset, Amortization	1,011	332	1,686	603
Finance Lease, Interest Expense	216	56	366	104
Finance Lease, Cost	1,227	388	2,052	707
Short-term Lease, Cost	513	491	1,102	776
Variable Lease, Cost	661	485	1,074	957
Lease, Cost	6,808	5,521	13,561	10,600
Operating Lease, Payments	5,867	5,111	11,818	9,351
Finance Lease, Interest Payment on Liability	216	56	366	104
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	2,872	3,984	9,191	11,499
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 1,882	$ 1,328	$ 4,826	$ 2,582
Operating Lease, Weighted Average Remaining Lease Term	4 years 7 months 6 days		4 years 7 months 6 days		4 years 9 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	3 years 9 months 18 days		3 years 9 months 18 days		3 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	4.10%		4.10%		4%
Finance Lease, Weighted Average Discount Rate, Percent	4.60%		4.60%		4.70%

Business Combinations and Div_2

Business Combinations and Divestitures (Details) $ in Thousands		6 Months Ended
	Oct. 07, 2022	Mar. 31, 2023 USD ($) business	Mar. 31, 2022 business
Business Combinations [Abstract]
Number of Businesses Acquired | business		0	0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $		$ 13,045
Sale of Stock, Percentage of Ownership before Transaction	100%