IES (IESC) 10-Q 2 Feb 24 2024 Q1 Quarterly report Financial data

DEI Document

DEI Document - shares	3 Months Ended
	Dec. 31, 2023	Jan. 31, 2024
Entity Information [Line Items]
Entity File Number	001-13783
Entity Registrant Name	IES Holdings, Inc.
Document Period End Date	Dec. 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	2024
Document Fiscal Period Focus	Q1
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		20,221,466

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 87,456	$ 75,770
Accounts receivable	388,556	363,836
Accounts and Other Receivables, Net, Current	80,781	76,934
Inventories	113,774	95,655
Costs and estimated earnings in excess of billings	40,646	48,620
Prepaid expenses and other current assets	16,378	10,481
Total current assets	727,591	671,296
Property and equipment, net	65,423	63,410
Goodwill	92,395	92,395
Intangible assets, net	53,141	56,208
Deferred tax assets	20,280	20,383
Operating right of use assets	62,560	61,761
Other non-current assets	20,629	16,147
Total assets	1,042,019	981,600
Accounts payable and accrued expenses	294,947	296,797
Billings in excess of costs and estimated earnings	126,962	103,771
Total current liabilities	421,909	400,568
Long-term debt	0	0
Operating long-term lease liabilities	42,337	42,098
Liability for Uncertainty in Income Taxes, Noncurrent	22,312	22,047
Other non-current liabilities	11,849	16,951
Total liabilities	498,407	481,664
Noncontrolling interest	54,969	49,951
Preferred stock, value	0	0
Common stock, value	220	220
Treasury stock, value	(49,521)	(49,450)
Additional paid-in capital	203,986	203,431
Retained earnings	333,958	295,784
Total stockholders' equity	488,643	449,985
Total liabilities and stockholders' equity	$ 1,042,019	$ 981,600

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ (1,705)	$ (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	20,213,976	20,194,218
Treasury Stock, Shares	1,835,553	1,855,311

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenues	$ 634,444	$ 574,874
Cost of services	490,640	479,436
Gross profit	143,804	95,438
Selling, general and administrative expenses	85,850	67,768
Contingent consideration	35	69
Loss (gain) on sale of assets	(71)	(13,060)
Operating income (loss)	57,990	40,661
Interest expense	397	1,184
Other (income) expense, net	(1,393)	695
Income (loss) from operations before income taxes	58,986	38,782
Provision for (benefit from) income taxes	15,398	10,028
Net income (loss)	43,588	28,754
Net income attributable to noncontrolling interest	(2,632)	(2,352)
Comprehensive income attributable to IES Holdings, Inc.	$ 40,956	$ 26,402
Earnings Per Share, Basic	$ 1.89	$ 1.15
Earnings Per Share, Diluted	$ 1.87	$ 1.14
Weighted Average Number of Shares Outstanding, Basic	20,199,587	20,242,114
Weighted Average Number of Shares Outstanding, Diluted	20,435,148	20,449,035

Consolidated Statements of Stoc

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			$ (1,843)	(1,843)
Issuances under compensation plans, shares			71,013
Acquisition of treasury stock	7,489		$ 7,496	(7)
Acquisition of treasury stock, shares			(239,060)
Non-cash compensation	(905)			(905)
Noncontrolling Interest, Change in Redemption Value	(3,055)				(3,055)
Net income (loss) attributable to IES Holdings, Inc.	26,402				26,402
Stockholders' Equity Attributable to Parent at Dec. 31, 2022	378,051	$ 220	$ (49,653)	200,940	226,544
Shares, Issued at Dec. 31, 2022		22,049,529	1,875,676
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		$ (858)	(858)
Issuances under compensation plans, shares			32,180
Acquisition of treasury stock	929		$ 929	0
Acquisition of treasury stock, shares			(12,422)
Non-cash compensation	(1,413)			(1,413)
Noncontrolling Interest, Change in Redemption Value	(2,782)				(2,782)
Net income (loss) attributable to IES Holdings, Inc.	40,956				40,956
Stockholders' Equity Attributable to Parent at Dec. 31, 2023	$ 488,643	$ 220	$ (49,521)	$ 203,986	$ 333,958
Shares, Issued at Dec. 31, 2023		22,049,529	1,835,553

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Net income (loss)	$ 43,588	$ 28,754
Bad debt expense	150	63
Deferred financing cost amortization	70	65
Depreciation and amortization	7,617	6,388
Gain (Loss) on Disposition of Property Plant Equipment	(71)	(13,060)
Non-cash compensation expense	1,413	905
Deferred income taxes	1,004	533
Unrealized Gain (Loss) on Investments	(119)	0
Accounts receivable	(24,869)	18,142
Inventories	(18,121)	(5,113)
Costs and estimated earnings in excess of billings	7,974	7,562
Prepaid expenses and other current assets	(9,761)	(11,766)
Other non-current assets	(4,443)	103
Accounts payable and accrued expenses	(2,616)	(29,780)
Billings in excess of costs and estimated earnings	23,191	10,722
Other non-current liabilities	(54)	826
Net cash provided by operating activities	24,953	14,344
Capital expenditures	(6,515)	(2,712)
Proceeds from sale of assets	656	19,205
Cash paid in conjunction with business combinations	(130)	(165)
Net cash used in investing activities	(5,989)	16,328
Borrowings of debt	654,039	607,974
Repayments of debt	(654,039)	(647,639)
Cash paid for finance leases	(978)	(773)
Payment for Contingent Consideration Liability, Financing Activities	4,074	0
Distribution to noncontrolling interest	(1,297)	(2,348)
Purchase of treasury stock	(929)	(7,489)
Net cash used in financing activities	(7,278)	(50,275)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	11,686	(19,603)
CASH, CASH EQUIVALENTS, beginning of period	75,770	24,848
CASH, CASH EQUIVALENTS, end of period	87,456	5,245
Cash paid for interest	135	1,001
Cash paid for income taxes (net)	$ 117	$ 63

Business

Business	3 Months Ended
	Dec. 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, 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. 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 (“ASC”) 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 December 31, 2023 had been redeemable at that date, the redemption amount would have been $54,969. 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 will impact how we account for future business combinations.

Controlling Shareholder

Controlling Shareholder	3 Months Ended
	Dec. 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 57 percent of the Company’s outstanding common stock based on a Form 4 filed by Tontine with the SEC on January 24, 2024 and the Company's shares outstanding as of January 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. 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 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.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Dec. 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 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. 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 months ended December 31, 2023 and 2022 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 December 31, 2023 2022 Communications $ 170,748 $ 147,245 Residential Single-family 246,567 243,710 Multi-family and Other 69,289 74,368 Total Residential 315,856 318,078 Infrastructure Solutions Industrial Services 11,098 10,955 Custom Power Solutions 51,790 38,329 Total Infrastructure Solutions 62,888 49,284 Commercial & Industrial 84,952 60,267 Total Revenue $ 634,444 $ 574,874 Three Months Ended December 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 125,223 $ 315,856 $ 60,880 $ 73,910 $ 575,869 Time-and-material 45,525 — 2,008 11,042 58,575 Total revenue $ 170,748 $ 315,856 $ 62,888 $ 84,952 $ 634,444 Three Months Ended December 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 87,274 $ 318,078 $ 47,546 $ 51,895 $ 504,793 Time-and-material 59,971 — 1,738 8,372 70,081 Total revenue $ 147,245 $ 318,078 $ 49,284 $ 60,267 $ 574,874 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 December 31, 2023, Accounts receivable included $5,347 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 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 three months ended December 31, 2023 and 2022, we recognized revenue of $77,964 and $38,047 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 December 31, 2023, we had remaining performance obligations of $1,072,593. The Company expects to recognize revenue on approximately $872,321 of the remaining performance obligations over the next 12 months, with the remainder recognized thereafter. For the three months ended December 31, 2023, net revenue recognized from our performance obligations satisfied in previous periods was not material.

Debt

Debt	3 Months Ended
	Dec. 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, 2023. As of December 31, 2023, the Company was in compliance with the financial covenants under the Amended Credit Agreement. At December 31, 2023 and at September 30, 2023, we had no outstanding borrowings under our revolving credit facility. At December 31, 2023, we also had $5,606 in outstanding letters of credit and total availability of $142,489 under our revolving credit facility without triggering the financial covenants under the Amended Credit Agreement.

Per Share Information

Per Share Information	3 Months Ended
	Dec. 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 per share for the three months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 2022 Numerator: Net income attributable to IES Holdings, Inc. $ 40,956 $ 26,402 Increase in noncontrolling interest (2,782) (3,055) Net income attributable to restricted stockholders of IES Holdings, Inc. — (11) Net income attributable to common stockholders of IES Holdings, Inc. $ 38,174 $ 23,336 Denominator: Weighted average common shares outstanding — basic 20,199,587 20,242,114 Effect of dilutive stock options and non-vested securities 235,561 206,921 Weighted average common and common equivalent shares outstanding — diluted 20,435,148 20,449,035 Earnings per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 1.89 $ 1.15 Diluted $ 1.87 $ 1.14 For the three months ended December 31, 2023 and 2022, the average price of our common shares exceeded the exercise price of all of our outstanding stock options; therefore, all of our outstanding stock options were included in the computation of diluted earnings per share. For the three months ended December 31, 2023 and 2022, the computation of diluted earnings per share excluded 64,500 and 60,212 unvested Employee PSUs (as defined below), respectively, as the inclusion of such instruments would have been anti-dilutive.

Operating Segments

Operating Segments	3 Months Ended
	Dec. 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 months ended December 31, 2023 and 2022 is as follows: Three Months Ended December 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 170,748 $ 315,856 $ 62,888 $ 84,952 $ — $ 634,444 Cost of services 134,473 240,425 44,697 71,045 — 490,640 Gross profit 36,275 75,431 18,191 13,907 — 143,804 Selling, general and administrative 14,901 51,378 7,285 6,847 5,439 85,850 Contingent consideration — 35 — — — 35 Loss (gain) on sale of assets (4) (82) — 15 — (71) Operating income (loss) $ 21,378 $ 24,100 $ 10,906 $ 7,045 $ (5,439) $ 57,990 Other data: Depreciation and amortization expense $ 723 $ 4,962 $ 1,227 $ 475 $ 230 $ 7,617 Capital expenditures $ 1,000 $ 3,364 $ 1,151 $ 821 $ 179 $ 6,515 Total assets $ 215,475 $ 388,808 $ 185,875 $ 101,621 $ 150,240 $ 1,042,019 Three Months Ended December 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 147,245 $ 318,078 $ 49,284 $ 60,267 $ — $ 574,874 Cost of services 125,507 258,459 38,817 56,653 — 479,436 Gross profit 21,738 59,619 10,467 3,614 — 95,438 Selling, general and administrative 12,297 39,051 5,761 5,689 4,970 67,768 Contingent consideration — 69 — — — 69 Gain on sale of assets — (6) (19) (13,035) — (13,060) Operating income (loss) $ 9,441 $ 20,505 $ 4,725 $ 10,960 $ (4,970) $ 40,661 Other data: Depreciation and amortization expense $ 430 $ 4,144 $ 1,354 $ 392 $ 68 $ 6,388 Capital expenditures $ 642 $ 708 $ 639 $ 723 $ — $ 2,712 Total assets $ 203,500 $ 395,243 $ 163,201 $ 79,548 $ 55,324 $ 896,816

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Dec. 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 547,804 shares were available for issuance at December 31, 2023. 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 219,731 shares of our common stock during the three months ended December 31, 2022 in open market transactions at an average price of $30.97 per share. We had no repurchases of common stock in open market transactions during the three months ended December 31, 2023. Treasury Stock During the three months ended December 31, 2023, we issued 32,180 shares of common stock from treasury stock to employees and repurchased 12,422 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 three months ended December 31, 2022, we issued 71,013 shares of common stock from treasury stock to employees and repurchased 19,142 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, 187 restricted shares were forfeited and returned to treasury 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. 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 December 31, 2023, the Company had outstanding Employee PSUs, which, subject to the achievement of certain performance metrics, could result in the issuance of 376,533 shares of common stock. During the three months ended December 31, 2023, we granted 85,424 Employee PSUs, 2,535 were forfeited, and 32,180 vested. A summary of the compensation expense related to our stock awards recognized during the three months ended December 31, 2023 and 2022 is provided in the table below: Three Months Ended December 31, 2023 2022 Restricted stock awards $ — $ 25 Director PSUs $ 97 $ 97 Employee PSUs $ 1,316 $ 783

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 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 December 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), debt and equity investments classified as trading securities, and contingent consideration liabilities related to certain of our acquisitions. Financial assets (liabilities) measured at fair value on a recurring basis as of December 31, 2023 and September 30, 2023, are summarized in the following tables by the type of inputs applicable to the fair value measurements: December 31, 2023 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 851 $ 851 $ — Debt securities 4,501 4,501 — Executive savings plan liabilities (729) (729) — Total $ 4,623 $ 4,623 $ — 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) In fiscal year 2021, we entered into a contingent consideration arrangement related to the acquisition of Bayonet. The table below presents the change in fair value of this obligation, which used significant unobservable inputs (Level 3). This obligation was settled during the three months ended December 31, 2023, and we did not have any other assets or liabilities measured using significant unobservable inputs at December 31, 2023. Contingent Consideration Agreements Fair value at September 30, 2023 $ (4,465) Net adjustments to fair value (35) Settlements 4,500 Fair value at December 31, 2023 $ —

Inventory

Inventory	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	9. INVENTORY Inventories consist of the following components: December 31, September 30, 2023 2023 Raw materials $ 14,348 $ 14,334 Work in process 12,895 12,939 Finished goods 5,689 3,399 Parts and supplies 80,842 64,983 Total inventories $ 113,774 $ 95,655

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Dec. 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 December 31, 2023, which did not change from September 30, 2023: Communications Residential Infrastructure Solutions Commercial & Industrial Total Goodwill at December 31, 2023 $ 2,816 $ 51,370 $ 38,209 $ — $ 92,395 Intangible Assets Intangible assets consist of the following: Estimated Useful Lives (in Years) December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 14,621 $ (7,349) $ 7,272 Technical library 20 400 (206) 194 Customer relationships 6 - 15 91,426 (45,751) 45,675 Non-competition arrangements 5 40 (40) — Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 111,445 $ (58,304) $ 53,141 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

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 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. 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 December 31, 2023 and September 30, 2023, we had $9,334 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 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 December 31, 2023 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 December 31, 2023, the estimated cost to complete our bonded projects was approximately $136,569. 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	3 Months Ended
	Dec. 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 $20,184 and $4,529, respectively, as of December 31, 2023, and 19,496 and 4,301, respectively, as of September 30, 2023, were included in “ Accounts payable and accrued expenses Other non-current liabilities Other non-current assets The maturities of our lease liabilities as of December 31, 2023 are as follows: Operating Leases Finance Leases Total Remainder of 2024 $ 15,977 $ 3,523 $ 19,500 2025 17,902 4,468 22,370 2026 14,288 3,602 17,890 2027 10,202 1,799 12,001 2028 5,864 196 6,060 Thereafter 6,231 3 6,234 Total undiscounted lease payments $ 70,464 $ 13,591 $ 84,055 Less: imputed interest 7,943 1,299 9,242 Present value of lease liabilities $ 62,521 $ 12,292 $ 74,813 The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of December 31, 2023 is $2,880. Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows: Three Months Ended December 31, 2023 December 31, 2022 Operating lease cost $ 5,696 $ 4,926 Finance lease cost Amortization of lease assets 1,008 675 Interest on lease liabilities 184 150 Finance lease cost 1,192 825 Short-term lease cost 421 589 Variable lease cost 998 413 Total lease cost $ 8,307 $ 6,753 Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows: Three Months Ended December 31, 2023 December 31, 2022 Operating cash flows used for operating leases $ 6,038 $ 5,951 Operating cash flows used for finance leases 184 150 Right-of-use assets obtained in exchange for new operating lease liabilities 6,459 6,319 Right-of-use assets obtained in exchange for new finance lease liabilities 340 2,944 December 31, 2023 September 30, 2023 Weighted-average remaining lease term - operating leases 4.3 years 4.5 years Weighted-average remaining lease term - finance leases 3.2 years 3.4 years Weighted-average discount rate - operating leases 5.2 % 5.1 % Weighted-average discount rate - finance leases 6.2 % 6.0 %

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Business Combination Disclosure [Text Block]	13. BUSINESS COMBINATIONS AND DIVESTITURES We completed no acquisitions during the three months ended December 31, 2023 or during the year ended September 30, 2023. 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 three months ended December 31, 2022.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to IES Holdings, Inc.	$ 40,956	$ 26,402

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
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

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2023
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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	Our consolidated revenue for the three months ended December 31, 2023 and 2022 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 December 31, 2023 2022 Communications $ 170,748 $ 147,245 Residential Single-family 246,567 243,710 Multi-family and Other 69,289 74,368 Total Residential 315,856 318,078 Infrastructure Solutions Industrial Services 11,098 10,955 Custom Power Solutions 51,790 38,329 Total Infrastructure Solutions 62,888 49,284 Commercial & Industrial 84,952 60,267 Total Revenue $ 634,444 $ 574,874 Three Months Ended December 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 125,223 $ 315,856 $ 60,880 $ 73,910 $ 575,869 Time-and-material 45,525 — 2,008 11,042 58,575 Total revenue $ 170,748 $ 315,856 $ 62,888 $ 84,952 $ 634,444 Three Months Ended December 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Total Fixed-price $ 87,274 $ 318,078 $ 47,546 $ 51,895 $ 504,793 Time-and-material 59,971 — 1,738 8,372 70,081 Total revenue $ 147,245 $ 318,078 $ 49,284 $ 60,267 $ 574,874

Per Share Information (Tables)

Per Share Information (Tables)	3 Months Ended
	Dec. 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 per share for the three months ended December 31, 2023 and 2022: Three Months Ended December 31, 2023 2022 Numerator: Net income attributable to IES Holdings, Inc. $ 40,956 $ 26,402 Increase in noncontrolling interest (2,782) (3,055) Net income attributable to restricted stockholders of IES Holdings, Inc. — (11) Net income attributable to common stockholders of IES Holdings, Inc. $ 38,174 $ 23,336 Denominator: Weighted average common shares outstanding — basic 20,199,587 20,242,114 Effect of dilutive stock options and non-vested securities 235,561 206,921 Weighted average common and common equivalent shares outstanding — diluted 20,435,148 20,449,035 Earnings per share attributable to common stockholders of IES Holdings, Inc.: Basic $ 1.89 $ 1.15 Diluted $ 1.87 $ 1.14

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Segment information for the three months ended December 31, 2023 and 2022 is as follows: Three Months Ended December 31, 2023 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 170,748 $ 315,856 $ 62,888 $ 84,952 $ — $ 634,444 Cost of services 134,473 240,425 44,697 71,045 — 490,640 Gross profit 36,275 75,431 18,191 13,907 — 143,804 Selling, general and administrative 14,901 51,378 7,285 6,847 5,439 85,850 Contingent consideration — 35 — — — 35 Loss (gain) on sale of assets (4) (82) — 15 — (71) Operating income (loss) $ 21,378 $ 24,100 $ 10,906 $ 7,045 $ (5,439) $ 57,990 Other data: Depreciation and amortization expense $ 723 $ 4,962 $ 1,227 $ 475 $ 230 $ 7,617 Capital expenditures $ 1,000 $ 3,364 $ 1,151 $ 821 $ 179 $ 6,515 Total assets $ 215,475 $ 388,808 $ 185,875 $ 101,621 $ 150,240 $ 1,042,019 Three Months Ended December 31, 2022 Communications Residential Infrastructure Solutions Commercial & Industrial Corporate Total Revenues $ 147,245 $ 318,078 $ 49,284 $ 60,267 $ — $ 574,874 Cost of services 125,507 258,459 38,817 56,653 — 479,436 Gross profit 21,738 59,619 10,467 3,614 — 95,438 Selling, general and administrative 12,297 39,051 5,761 5,689 4,970 67,768 Contingent consideration — 69 — — — 69 Gain on sale of assets — (6) (19) (13,035) — (13,060) Operating income (loss) $ 9,441 $ 20,505 $ 4,725 $ 10,960 $ (4,970) $ 40,661 Other data: Depreciation and amortization expense $ 430 $ 4,144 $ 1,354 $ 392 $ 68 $ 6,388 Capital expenditures $ 642 $ 708 $ 639 $ 723 $ — $ 2,712 Total assets $ 203,500 $ 395,243 $ 163,201 $ 79,548 $ 55,324 $ 896,816

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Share-Based Payment Arrangement, Cost by Plan	A summary of the compensation expense related to our stock awards recognized during the three months ended December 31, 2023 and 2022 is provided in the table below: Three Months Ended December 31, 2023 2022 Restricted stock awards $ — $ 25 Director PSUs $ 97 $ 97 Employee PSUs $ 1,316 $ 783

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Financial assets (liabilities) measured at fair value on a recurring basis as of December 31, 2023 and September 30, 2023, are summarized in the following tables by the type of inputs applicable to the fair value measurements: December 31, 2023 Total Fair Value Quoted Prices (Level 1) Significant Unobservable Inputs (Level 3) Executive savings plan assets $ 851 $ 851 $ — Debt securities 4,501 4,501 — Executive savings plan liabilities (729) (729) — Total $ 4,623 $ 4,623 $ — 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 this obligation, which used significant unobservable inputs (Level 3). This obligation was settled during the three months ended December 31, 2023, and we did not have any other assets or liabilities measured using significant unobservable inputs at December 31, 2023. Contingent Consideration Agreements Fair value at September 30, 2023 $ (4,465) Net adjustments to fair value (35) Settlements 4,500 Fair value at December 31, 2023 $ —

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following components: December 31, September 30, 2023 2023 Raw materials $ 14,348 $ 14,334 Work in process 12,895 12,939 Finished goods 5,689 3,399 Parts and supplies 80,842 64,983 Total inventories $ 113,774 $ 95,655

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Dec. 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 December 31, 2023, which did not change from September 30, 2023: Communications Residential Infrastructure Solutions Commercial & Industrial Total Goodwill at December 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) December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Trademarks/trade names 5 - 20 $ 14,621 $ (7,349) $ 7,272 Technical library 20 400 (206) 194 Customer relationships 6 - 15 91,426 (45,751) 45,675 Non-competition arrangements 5 40 (40) — Backlog and construction contracts 1 4,958 (4,958) — Total intangible assets $ 111,445 $ (58,304) $ 53,141 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

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The maturities of our lease liabilities as of December 31, 2023 are as follows: Operating Leases Finance Leases Total Remainder of 2024 $ 15,977 $ 3,523 $ 19,500 2025 17,902 4,468 22,370 2026 14,288 3,602 17,890 2027 10,202 1,799 12,001 2028 5,864 196 6,060 Thereafter 6,231 3 6,234 Total undiscounted lease payments $ 70,464 $ 13,591 $ 84,055 Less: imputed interest 7,943 1,299 9,242 Present value of lease liabilities $ 62,521 $ 12,292 $ 74,813
Lease, Cost	Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows: Three Months Ended December 31, 2023 December 31, 2022 Operating lease cost $ 5,696 $ 4,926 Finance lease cost Amortization of lease assets 1,008 675 Interest on lease liabilities 184 150 Finance lease cost 1,192 825 Short-term lease cost 421 589 Variable lease cost 998 413 Total lease cost $ 8,307 $ 6,753
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 December 31, 2023 December 31, 2022 Operating cash flows used for operating leases $ 6,038 $ 5,951 Operating cash flows used for finance leases 184 150 Right-of-use assets obtained in exchange for new operating lease liabilities 6,459 6,319 Right-of-use assets obtained in exchange for new finance lease liabilities 340 2,944 December 31, 2023 September 30, 2023 Weighted-average remaining lease term - operating leases 4.3 years 4.5 years Weighted-average remaining lease term - finance leases 3.2 years 3.4 years Weighted-average discount rate - operating leases 5.2 % 5.1 % Weighted-average discount rate - finance leases 6.2 % 6.0 %

Business (Details)

Business (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Redeemable Noncontrolling Interest, Equity, Redemption Value	$ 54,969
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 will impact how we account for future business combinations.

Controlling Shareholder (Detail

Controlling Shareholder (Details) - USD ($) $ in Thousands	Dec. 01, 2022	Nov. 30, 2022	Dec. 31, 2023
Risks and Uncertainties [Abstract]
ControllingShareholderOwnershipPercentage			57%
Related Party Transaction, Purchases from Related Party	$ 9	$ 8

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Unbilled Receivables, Current	$ 5,347
Costs and estimated earnings in excess of billings	40,646		$ 48,620
Billings in excess of costs and estimated earnings	(126,962)		$ (103,771)
Contract with Customer, Liability, Revenue Recognized	77,964	$ 38,047
Performance Obligation Next 12 Months	872,321
Revenue, Remaining Performance Obligation, Amount	1,072,593
Disaggregation of Revenue [Line Items]
Revenues	634,444	574,874
Contract with Customer, Liability, Revenue Recognized	77,964	38,047
Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	84,952	60,267
Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	170,748	147,245
Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	62,888	49,284
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	315,856	318,078
Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	575,869	504,793
Fixed-price Contract [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	73,910	51,895
Fixed-price Contract [Member] | Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	125,223	87,274
Fixed-price Contract [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	60,880	47,546
Fixed-price Contract [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	315,856	318,078
Time-and-materials Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	58,575	70,081
Time-and-materials Contract [Member] | Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,042	8,372
Time-and-materials Contract [Member] | Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	45,525	59,971
Time-and-materials Contract [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,008	1,738
Time-and-materials Contract [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0
industrial Services [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,098	10,955
Custom Power Solutions [Member] | Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	51,790	38,329
Single Family Contracts [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	246,567	243,710
Multi Family and Other [Member] | Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 69,289	$ 74,368

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	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	142,489
Loans Payable to Bank, Noncurrent	0
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
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Undistributed Earnings (Loss) Available to Common Shareholders, Basic	$ 38,174	$ 23,336
Noncontrolling Interest, Change in Redemption Value	(2,782)	(3,055)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	(11)
Net income (loss) attributable to IES Holdings, Inc.	$ 40,956	$ 26,402
Weighted Average Number of Shares Outstanding, Basic	20,199,587	20,242,114
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	235,561	206,921
Weighted Average Number of Shares Outstanding, Diluted	20,435,148	20,449,035
Earnings Per Share, Basic	$ 1.89	$ 1.15
Earnings Per Share, Diluted	$ 1.87	$ 1.14
Phantom Share Units (PSUs) [Member]
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	64,500	60,212
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	64,500	60,212

Operating Segments (Details)

Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Segment Reporting Information [Line Items]
Cost of services	$ 490,640	$ 479,436
Gross profit	143,804	95,438
Selling, general and administrative expenses	85,850	67,768
Contingent consideration	35	69
Loss (gain) on sale of assets	(71)	(13,060)
Operating income (loss)	57,990	40,661
Depreciation and amortization expense	7,617	6,388
Capital expenditures	6,515	2,712
Total assets	1,042,019	896,816	$ 981,600
Revenues	634,444	574,874
Noncontrolling Interest, Change in Redemption Value	2,782	3,055
Commercial and Industrial [Member]
Segment Reporting Information [Line Items]
Cost of services	71,045	56,653
Gross profit	13,907	3,614
Selling, general and administrative expenses	6,847	5,689
Loss (gain) on sale of assets	15	(13,035)
Operating income (loss)	7,045	10,960
Depreciation and amortization expense	475	392
Capital expenditures	821	723
Total assets	101,621	79,548
Revenues	84,952	60,267
Communications [Member]
Segment Reporting Information [Line Items]
Cost of services	134,473	125,507
Gross profit	36,275	21,738
Selling, general and administrative expenses	14,901	12,297
Loss (gain) on sale of assets	(4)	0
Operating income (loss)	21,378	9,441
Depreciation and amortization expense	723	430
Capital expenditures	1,000	642
Total assets	215,475	203,500
Revenues	170,748	147,245
Infrastructure Solutions [Member]
Segment Reporting Information [Line Items]
Cost of services	44,697	38,817
Gross profit	18,191	10,467
Selling, general and administrative expenses	7,285	5,761
Contingent consideration		0
Loss (gain) on sale of assets	0	(19)
Operating income (loss)	10,906	4,725
Depreciation and amortization expense	1,227	1,354
Capital expenditures	1,151	639
Total assets	185,875	163,201
Revenues	62,888	49,284
Residential [Member]
Segment Reporting Information [Line Items]
Cost of services	240,425	258,459
Gross profit	75,431	59,619
Selling, general and administrative expenses	51,378	39,051
Contingent consideration	35	69
Loss (gain) on sale of assets	(82)	(6)
Operating income (loss)	24,100	20,505
Depreciation and amortization expense	4,962	4,144
Capital expenditures	3,364	708
Total assets	388,808	395,243
Revenues	315,856	318,078
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Cost of services	0	0
Gross profit	0	0
Selling, general and administrative expenses	5,439	4,970
Contingent consideration		0
Loss (gain) on sale of assets	0	0
Operating income (loss)	(5,439)	(4,970)
Depreciation and amortization expense	230	68
Capital expenditures	179	0
Total assets	150,240	55,324
Revenues	$ 0	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	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
Treasury Stock Acquired, Average Cost Per Share		$ 30.97
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	12,422	19,142
Stock Repurchase Program, Authorized Amount				$ 40,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	547,804
Treasury Stock Acquired, Average Cost Per Share		$ 30.97
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	12,422	19,142
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 0	$ 25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		187
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		187
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	97	$ 97
us-gaap_PhantomShareUnitsPSUsMember_Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,316	$ 783
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	85,424
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	2,535
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	32,180
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	376,533
Stock Issued During Period, Shares, Treasury Stock Reissued	32,180	71,013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	2,535
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
Repurchase Agreements [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	0	219,731

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 851	$ 783
Debt Securities, Trading	4,501
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(729)	(657)
Business Combination, Contingent Consideration, Liability, Noncurrent		(4,465)
Fair Value, Net Asset (Liability)	4,623	(4,339)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	$ (35)
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, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	851	783
Debt Securities, Trading	4,501
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(729)	(657)
Fair Value, Net Asset (Liability)	4,623	126
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	0	(4,465)
Fair Value, Net Asset (Liability)	$ 0	$ (4,465)

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory, Raw Materials, Gross	$ 14,348	$ 14,334
Inventory, Work in Process, Gross	12,895	12,939
Inventory, Finished Goods, Gross	5,689	3,399
Other Inventory, Gross	80,842	64,983
Inventory, Net	$ 113,774	$ 95,655

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets Goodwill (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill [Line Items]
Goodwill	$ 92,395
Goodwill	92,395
Goodwill, Period Increase (Decrease)	0
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	Dec. 31, 2023	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 111,445	$ 111,445
Finite-Lived Intangible Assets, Accumulated Amortization	(58,304)	(55,237)
Intangible Assets, Net (Excluding Goodwill)	53,141	56,208
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	14,621	14,621
Finite-Lived Intangible Assets, Accumulated Amortization	(7,349)	(6,973)
Intangible Assets, Net (Excluding Goodwill)	$ 7,272	$ 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	(206)	(201)
Intangible Assets, Net (Excluding Goodwill)	194	199
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	91,426	91,426
Finite-Lived Intangible Assets, Accumulated Amortization	(45,751)	(43,065)
Intangible Assets, Net (Excluding Goodwill)	$ 45,675	$ 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	$ 4,958	$ 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	Dec. 31, 2023	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrued Insurance, Current	$ 9,334	$ 7,726
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	5,606
Revenue, Remaining Performance Obligation, Amount	1,072,593
Estimated cost of completion of bonded projects	136,569
Estimated cost of completion of bonded projects	136,569
Purchase Commitment, Remaining Minimum Amount Committed	0
Insurance Related [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 5,606	$ 4,166

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Liability, Current	$ 20,184		$ 19,496
Finance Lease, Liability, Current	4,529		$ 4,301
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	15,977
Lessee, Operating Lease, Liability, Payments, Due Year Two	17,902
Lessee, Operating Lease, Liability, Payments, Due Year Three	14,288
Lessee, Operating Lease, Liability, Payments, Due Year Four	10,202
Lessee, Operating Lease, Liability, Payments, Due Year Five	5,864
Lessee, Operating Lease, Liability, Payments, Due after Year Five	6,231
Lessee, Operating Lease, Liability, Payments, Due	70,464
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	7,943
Operating Lease, Liability	62,521
Finance Lease, Liability, Payments, Due Next Twelve Months	3,523
Finance Lease, Liability, Payments, Due Year Two	4,468
Finance Lease, Liability, Payments, Due Year Three	3,602
Finance Lease, Liability, Payments, Due Year Four	1,799
Finance Lease, Liability, Payments, Due Year Five	196
Finance Lease, Liability, Payments, Due after Year Five	3
Finance Lease, Liability, Payment, Due	13,591
Finance Lease, Liability, Undiscounted Excess Amount	1,299
Finance Lease, Liability	12,292
Lessee, Total Lease, Liability, Payments, Remainder of Fiscal Year [Line Items]	19,500
Total Lease, Liability, Payments, Year Two	22,370
Total Lease, Liability, Payments, Year Three	17,890
Total Lease, Liability, Payments, Year Four	12,001
Total Lease, Liability, Payments, Year Five	6,060
Total Lease, Liability, Payments, Due After Year Five	6,234
Total Lease, Liability, Payments Due	84,055
Total Lease, Liability, Undiscounted Excess Amount	9,242
Total Lease, Liability	74,813
Lessee, Operating Lease, Lease Not yet Commenced, Description	2,880
Operating Lease, Cost	5,696	$ 4,926
Finance Lease, Right-of-Use Asset, Amortization	1,008	675
Finance Lease, Interest Expense	184	150
Finance Lease, Cost	1,192	825
Short-term Lease, Cost	421	589
Variable Lease, Cost	998	413
Lease, Cost	8,307	6,753
Operating Lease, Payments	6,038	5,951
Finance Lease, Interest Payment on Liability	184	150
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	6,459	6,319
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 340	$ 2,944
Operating Lease, Weighted Average Remaining Lease Term	4 years 3 months 18 days		4 years 6 months
Finance Lease, Weighted Average Remaining Lease Term	3 years 2 months 12 days		3 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5.20%		5.10%
Finance Lease, Weighted Average Discount Rate, Percent	6.20%		6%
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current	$ 20,184		$ 19,496
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets

Discontinued Operations and D_2

Discontinued Operations and Disposal Groups (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Oct. 07, 2022	Dec. 31, 2023 business	Dec. 31, 2022 USD ($)	Sep. 30, 2023 business
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%
Number of Businesses Acquired | business		0		0