0001048268-24-000134 | 10-K | XBRL Viewer

Goodwill and Intangible Assets Goodwill (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Line Items]
Goodwill, beginning	$ 92,395
Goodwill, ending	93,960
Goodwill, Impaired, Accumulated Impairment Loss	6,976
Communications [Member]
Goodwill [Line Items]
Goodwill, ending	2,816
Residential [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	0
Goodwill, ending	51,370
Infrastructure Solutions [Member]
Goodwill [Line Items]
Goodwill, beginning	38,209
Goodwill, Acquired During Period	1,565
Goodwill, ending	39,774
Commercial and Industrial [Member]
Goodwill [Line Items]
Goodwill, ending	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

- Definition

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

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+ Details

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

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Loss Contingencies [Line Items]
Loss Contingency, Discounted Amount of Insurance-related Assessment Liability	$ 11,158	$ 7,726
Letters of Credit Outstanding, Amount	4,756
Estimated cost of completion of bonded projects	133,863
Purchase Commitment, Remaining Minimum Amount Committed	0
Insurance Related [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	$ 4,756	$ 4,166

- Definition

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

+ References + Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The accompanying Consolidated Financial Statements include the accounts of IES Holdings, Inc. and its consolidated subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Marketable Securities

Marketable securities consist of highly liquid equity securities and debt securities with original maturities over three months. All of our marketable debt securities are classified as trading securities and mature after one year and before five years at September 30, 2024. Our marketable securities with readily determinable fair values are carried at fair value, with gains and losses included in Other (income) expense, net on our Consolidated Statements of Comprehensive Income.

Inventories

Inventories consist of raw materials, work in process, finished goods, and parts and supplies held for use in the ordinary course of business. Inventory is valued at the lower of cost or net realizable value generally using the first-in, first-out (FIFO) method. When circumstances dictate, we write down inventory to its estimated net realizable value based on assumptions about future demand, market conditions, plans for disposal, and physical condition of the product. Where shipping and handling costs on inventory purchases are borne by us, these charges are included in inventory and charged to cost of services upon use in our projects or the providing of services.

Property and Equipment

Additions of property and equipment are recorded at cost, and depreciation is computed using the straight-line method over the estimated useful life of the related asset. Leasehold improvements are capitalized and depreciated over the lesser of the life of the lease or the estimated useful life of the asset. Costs associated with software developed or obtained for internal use, including third party development fees incurred during the application development stage and software licenses, are capitalized and amortized on a straight-line basis over the estimated useful life of the software.

Expenditures for repairs and maintenance are charged to expense when incurred. Expenditures for major renewals and betterments, which extend the useful lives of existing property and equipment, are capitalized and depreciated. Upon retirement or disposition of property and equipment, the capitalized cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the statements of comprehensive income in the caption (gain) loss on sale of assets.

Goodwill

Goodwill attributable to each reporting unit is tested for impairment either by comparing the fair value of each reporting unit with its carrying value or by a qualitative assessment. These impairment tests are required to be performed at least annually. On an ongoing basis (absent any impairment indicators), we perform an impairment test annually using a measurement date of September 30. In evaluating goodwill for impairment, we have the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is greater than its carrying value. If we determine that it is more likely than not that the carrying value of a reporting unit is greater than its fair value, then we perform an impairment test by calculating the fair value of the reporting unit and comparing this calculated fair value with the carrying value of the reporting unit.

We estimate the fair value of the reporting unit based on both a market approach and an income approach, using discounted estimated future cash flows. The market approach uses market multiples of enterprise value to earnings before interest, taxes, depreciation and amortization for comparable publicly traded companies. The income approach relies on significant estimates for future cash flows, projected long-term growth rates, and the weighted average cost of capital.

Intangible Assets

Intangible assets with definite lives are amortized over their estimated useful lives based on expected economic benefit with no residual value.

Debt Issuance Costs

Debt issuance costs are included as a reduction of our debt outstanding, or alternately classified within other non-current assets if we have no borrowings drawn on our credit facility at the balance sheet date, and are amortized to interest expense over the scheduled maturity of the debt. Amortization expense of debt issuance costs was $287, $268 and $199, respectively, for the years ended September 30, 2024, 2023 and 2022. Remaining unamortized capitalized debt issuance costs were $598 and $836 at September 30, 2024, and 2023, respectively.

Revenue Recognition

Revenue is recognized from a contract with a customer 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.

We recognize revenue on project contracts over time using the percentage of completion method. Project contracts generally provide that customers accept completion of progress to date and compensate us for services rendered measured in terms of units installed, hours expended or some other measure of progress. We recognize revenue on both signed contracts and change orders. A discussion of our treatment of claims and unapproved change orders is described later in this section. Percentage of completion for construction contracts is measured principally by the percentage of costs incurred and accrued to date for each contract to the estimated total cost for each contract at completion. We generally consider contracts to be substantially complete upon departure from the work site and acceptance by the customer. Contract costs include all direct material, labor and insurance costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs and depreciation costs. Changes in job performance, job conditions, estimated contract costs and profitability and final contract settlements can result in change orders under which the customer agrees to pay additional contract price. Revisions can also result in claims we might make against the customer to recover additional costs that have not been resolved through change orders with the customer. We recognize revenue from change orders or claims when recovery of such amounts is probable. The amount of revenue associated with unapproved change orders and claims was immaterial for the years ended September 30, 2024, 2023 and 2022. Provisions for total estimated losses on uncompleted contracts are

made in the period in which such losses are determined. The balances billed but not paid by customers pursuant to retainage provisions in project contracts are typically due upon completion of the contracts and acceptance by the customer. Based on our experience, the retention balance at each balance sheet date will be collected within the subsequent fiscal year.

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

Accounts Receivable and Allowance for Credit Losses

We record accounts receivable for all amounts billed and not collected and amounts for which we have an unconditional right to bill our customers. Additionally, we provide an allowance for credit losses based on historical company-specific uncollectable accounts, as well as current and expected market conditions. From time to time, we establish additional allowance for credit losses for financial asset balances with specific customers where collectability has been determined to be improbable based on specific facts and circumstances. Such allowances are established as deemed necessary in the period such determination is made. As is common in our industry, some of these receivables are in litigation or require us to exercise our contractual lien rights in order to collect. Our allowance for credit losses at September 30, 2024 and 2023 was $1,818 and $1,649, respectively.

In calculating our expected credit losses, we consider 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 are 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.

Comprehensive Income (Loss)

Comprehensive income (loss) includes all changes in equity during a period except those resulting from investments by and distributions to stockholders.

Income Taxes

We follow the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recorded for the future income tax consequences of temporary differences between the financial reporting and income tax bases of assets and liabilities, and are measured using enacted tax rates and laws.

We evaluate valuation allowances established for deferred tax assets for which future realization is uncertain on a quarterly basis. In assessing the realizability of deferred tax assets, we must consider whether it is more likely than not some portion, or all, of the deferred tax assets will not be realized. We consider all available evidence, both positive and negative, in determining whether a valuation allowance is required. At September 30, 2024, we concluded, based upon the assessment of positive and negative evidence, that it is more likely than not that the Company will generate sufficient taxable income to realize net deferred tax assets of $22,458. We considered the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. If actual future taxable income is different from these estimates, our results could be affected.

We record reserves for income taxes related to certain tax positions when management considers it more likely than not that additional taxes may be due in excess of amounts reflected on income tax returns filed. When recording these reserves, we assume that taxing authorities have full knowledge of the position and all relevant facts. We continually review exposure to additional tax obligations, and as further information is known or events occur, changes in tax reserves may be recorded. To the extent interest and penalties may be assessed by taxing authorities on any underpayment of income tax, such amounts have been accrued and included in the provision for income taxes.

Fair Value of Financial Instruments

Our financial instruments consist of cash and cash equivalents, marketable securities, accounts receivable, accounts payable, and a loan agreement. We believe that the carrying value of financial instruments approximates their fair value due to their short-term nature. The carrying value of our debt approximates fair value, as debt incurs interest at a variable rate.

Noncontrolling Interest

In connection with our acquisitions of Edmonson Electric, LLC (“Edmonson”) and Bayonet Plumbing, Heating & Air-Conditioning, LLC (“Bayonet”) in fiscal 2021, and NEXT Electric, LLC (“NEXT”) 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 sellers. The interests retained by those third party sellers are identified on our 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.

On June 28, 2024, we purchased the remaining 20 percent noncontrolling interest in Bayonet for $32,000. As we retained our controlling interest in Bayonet, the change in ownership interest was accounted for as an equity transaction. The difference between the balance of the noncontrolling interest at the date of redemption of the remaining interests and the consideration paid was recognized in Additional Paid-In Capital in the accompanying Consolidated Balance Sheets and was not reflected in earnings.

If all of the noncontrolling interests remaining outstanding at September 30, 2024 had been redeemable at that date, the redemption amount would have been $40,996.

The activity in redeemable noncontrolling interest is summarized in the table below.


	Year Ended September 30,
	2024		2023		2022
Balance at beginning of period	$	49,951	$	29,193	$	24,594
Net income attributable to noncontrolling interests	13,385		11,499		5,424
Distributions to noncontrolling interests	(16,155)		(11,491)		(7,000)
Adjustments to record noncontrolling interests at redemption value	22,695		20,750		6,175
Adjustment to record noncontrolling interests at value of consideration paid to acquire ownership interest	3,120		—		—
Purchase of ownership interest from noncontrolling interests	(32,000)		—		—
Balance at end of period	$	40,996	$	49,951	$	29,193

Leases

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. We evaluate whether each of these arrangements contains a lease and classify all identified leases as either operating or finance. If the arrangement is subsequently modified, we re-evaluate our classification. The lease term generally ranges 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.

Upon commencement of the lease, we recognize a lease liability and corresponding right-of-use (“ROU”) asset for all leases with an initial term greater than twelve months. Lease liabilities represent the present value of our future lease payments over the expected lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate as the discount rate in calculating the present value of the lease payments. The incremental borrowing rate is determined by identifying a synthetic credit rating for the consolidated company, where treasury functions are centrally managed, and adjusting the interest rates from associated indexes for differences in credit risk and interest rate risk. We have elected to combine the lease and nonlease components in the recognition of our lease liabilities across all classes of underlying assets. ROU assets represent our right to control the use of the leased asset during the lease and are recognized in an amount equal to the lease liability with adjustments for prepaid or accrued rent, lease incentives or unamortized initial direct costs. Costs associated with ROU assets are recognized on a straight-line basis over the term of the lease. Our lease assets are tested for impairment in the same manner as long-lived assets used in operations.

Certain lease contracts include obligations to pay for other services, such as operations and maintenance. Where the costs of these services can be identified as fixed or fixed-in-substance, the costs are included as part of the future lease payments. If the cost is not fixed at the inception of the lease, the cost is recorded as a variable cost in the period incurred.

Accounting Standards Recently Adopted

In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”).

This standard amends the existing guidance under ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations. Under this standard, the acquirer of a business is expected to recognize and measure acquired contract assets and contract liabilities as if the acquirer entered into the original contract on the same date with the same terms in accordance with ASC 606 rather than at fair value on the date of acquisition. This update is effective for fiscal years beginning after December 15, 2022 and for interim periods within that year. We adopted this standard on October 1, 2023 using the prospective method. ASU 2021-08 impacts how we account for business combinations completed after its adoption.

In December 2019, the FASB issued Accounting Standard Update No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This update is effective for fiscal years beginning after December 15, 2020 and for interim periods within that year. Early adoption is permitted. We adopted this standard on October 1, 2021 with immaterial impact on our Consolidated Financial Statements.

Fair Value of Financial Instruments, Policy

Fair Value of Financial Instruments

Lessee, Leases

Leases

Noncontrolling Interest Policy

Noncontrolling Interest

If all of the noncontrolling interests remaining outstanding at September 30, 2024 had been redeemable at that date, the redemption amount would have been $40,996.

The activity in redeemable noncontrolling interest is summarized in the table below.


	Year Ended September 30,
	2024		2023		2022
Balance at beginning of period	$	49,951	$	29,193	$	24,594
Net income attributable to noncontrolling interests	13,385		11,499		5,424
Distributions to noncontrolling interests	(16,155)		(11,491)		(7,000)
Adjustments to record noncontrolling interests at redemption value	22,695		20,750		6,175
Adjustment to record noncontrolling interests at value of consideration paid to acquire ownership interest	3,120		—		—
Purchase of ownership interest from noncontrolling interests	(32,000)		—		—
Balance at end of period	$	40,996	$	49,951	$	29,193

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy

Accounts Receivable and Allowance for Credit Losses

Revenue from Contract with Customer

Revenue Recognition

Intangible Assets, Finite-Lived, Policy

Intangible Assets

Intangible assets with definite lives are amortized over their estimated useful lives based on expected economic benefit with no residual value.

Goodwill and Intangible Assets, Goodwill, Policy

Goodwill

Deferred Charges, Policy

Debt Issuance Costs

Income Tax, Policy

Income Taxes

Comprehensive Income, Policy

Comprehensive Income (Loss)

Comprehensive income (loss) includes all changes in equity during a period except those resulting from investments by and distributions to stockholders.

Inventory, Policy

Inventories

Property, Plant and Equipment, Policy

Property and Equipment

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates, Policy

Use of Estimates

Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy

Principles of Consolidation

Marketable Securities, Policy

Marketable Securities

Debt (Details) - USD ($)	12 Months Ended
Debt (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Apr. 28, 2022
Debt Disclosure [Abstract]
Long-term debt	$ 0	$ 0
Debt Issuance Costs, Noncurrent, Net	598,000	836,000
Letters of Credit Outstanding, Amount	4,756,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 143,381,000
Line of Credit Facility, Interest Rate at Period End	6.33%
Interest expense	$ 1,338,000	3,022,000	$ 2,970,000
Line of Credit Facility, Maximum Borrowing Capacity	150,000,000			$ 125,000,000
Loans Payable	$ 0	0
ControllingShareholderOwnershipPercentage	55.00%
Liquidity	$ 244,213,000
Fixed Charge Coverage Ratio, Minimum	(110.00%)
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Minimum Liquidity Percentage	10.00%
Line of Credit Facility, Covenant Terms, Minimum Liquidity Amount	$ 15,000,000
Line of Credit Facility, Covenant Terms, Minimum Liquidity Excess Availability Percentage	50.00%
Fixed Charge Coverage Ratio, Minimum	110.00%
Net income (loss) attributable to IES Holdings, Inc.	$ 219,116,000	108,288,000	$ 34,762,000
Fixed Charge Coverage Ratio, Maximum	340.00%
Loans Payable	$ 0	$ 0

Per Share Information (Tables)

12 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

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


	Year Ended September 30,
	2024		2023		2022
Numerator:
Net income attributable to IES Holdings, Inc.	$	219,116	$	108,288	$	34,762
Increase in noncontrolling interest	(17,140)		(15,701)		(4,695)
Net income attributable to restricted shareholders of IES Holdings, Inc.	—		(11)		(21)
Net income attributable to common shareholders of IES Holdings, Inc.	$	201,976	$	92,576	$	30,046

Denominator:
Weighted average common shares outstanding — basic	20,160,143		20,196,850		20,667,745
Effect of dilutive stock options and non-vested securities	254,789		216,182		226,880
Weighted average common and common equivalent shares outstanding — diluted	20,414,932		20,413,032		20,894,625

Earnings per share attributable to common shareholders of IES Holdings, Inc.:
Basic	$	10.02	$	4.58	$	1.45
Diluted	$	9.89	$	4.54	$	1.44

Employee Benefit Plans (Notes)	12 Months Ended
Employee Benefit Plans (Notes)	Sep. 30, 2024
Retirement Benefits [Abstract]
Compensation and Employee Benefit Plans [Text Block]	14. EMPLOYEE BENEFIT PLANS 401(k) Plan In November 1998, we established the IES Holdings, Inc. 401(k) Retirement Savings Plan. All full-time IES employees are eligible to participate on the first day of the month subsequent to completing sixty days of service and attaining age twenty-one. Participants become vested in our matching contributions following three years of service. We also maintain several subsidiary retirement savings plans. We recognized $6,163, $5,309, and $4,494 in matching expenses in fiscal years 2024, 2023 and 2022, respectively. Executive Savings Plan Under the Executive Deferred Compensation Plan adopted on July 1, 2004 (the “Executive Savings Plan”), certain employees are permitted to defer a portion (up to 75%) of their base salary and/or bonus for a plan year. The Human Resources and Compensation Committee of the Board of Directors may, in its sole discretion, credit one or more participants with an employer deferral (contribution) in such amount as the Committee may choose (“Employer Contribution”). The Employer Contribution, if any, may be a fixed dollar amount, a fixed percentage of the participant’s compensation, base salary, or bonus, or a “matching” amount with respect to all or part of the participant’s elective deferrals for such plan year, and/or any combination of the foregoing as the Committee may choose. No compensation earned during the years ended September 30, 2024, 2023 and 2022 was deferred under this plan. Multiemployer Pension Plan The Infrastructure Solutions segment participates in a multiemployer direct benefit pension plan for employees covered under one of our collective bargaining agreements. We do not administer the plan. We do not significantly participate in this plan. As of December 31, 2023, this plan was funded at 92.57%.

Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 2,884,358	$ 2,377,227	$ 2,166,808
Contract with Customer, Liability, Revenue Recognized	98,564	82,520
Capitalized Contract Cost, Impairment Loss	0	0	0
Unbilled Receivables, Current	13,660
Contract with Customer, Liability, Revenue Recognized	98,564	82,520
Performance Obligation Next 12 Months	1,011,974
Revenue, Remaining Performance Obligation, Amount	1,175,695
Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	776,474	600,776	559,777
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,388,840	1,279,504	1,131,414
Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	351,096	217,353	167,113
Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	367,948	279,594	308,504
Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,596,151	2,135,894	1,941,443
Fixed-price Contract [Member] \| Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	554,160	404,684	367,513
Fixed-price Contract [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,388,840	1,279,504	1,131,414
Fixed-price Contract [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	336,786	210,547	159,994
Fixed-price Contract [Member] \| Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	316,365	241,159	282,522
Time-and-materials Contract [Member]
Disaggregation of Revenue [Line Items]
Revenues	288,207	241,333	225,365
Time-and-materials Contract [Member] \| Communications [Member]
Disaggregation of Revenue [Line Items]
Revenues	222,314	196,092	192,264
Time-and-materials Contract [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Time-and-materials Contract [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	14,310	6,806	7,119
Time-and-materials Contract [Member] \| Commercial and Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenues	51,583	38,435	25,982
industrial Services [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	53,291	46,091	65,686
Custom Power Solutions [Member] \| Infrastructure Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues	297,805	171,262	101,427
Single Family Contracts [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	732,334	717,386	660,602
Multi Family and Other [Member] \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	331,595	318,233	305,909
Single Family Plumbing HVAC \| Residential [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 324,911	$ 243,885	$ 164,903

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

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


	September 30, 2024
	Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable (Level 3)
Equity securities	$	31,639	$	31,639	$	—
Debt securities classified as trading securities	3,364		3,364		—
Executive savings plan assets	986		986		—
Executive savings plan liabilities	(852)		(852)		—
Contingent consideration liability	(3,468)		—		(3,468)
Total	$	31,669	$	35,137	$	(3,468)


	September 30, 2023
	Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable (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, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]


	Contingent Consideration Agreement
Fair value at September 30, 2022	$	(4,323)

Net adjustments to fair value	(142)
Fair value at September 30, 2023	$	(4,465)
Acquisitions	(2,790)
Net adjustments to fair value	(713)
Settlements	4,500
Fair value at September 30, 2024	$	(3,468)

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Revenue Recognition

12 Months Ended

Sep. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

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

4. 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.

In our Residential Single-family business and our Infrastructure Solutions Industrial Services business, our contracts are generally in the form of purchase orders issued to us by the customer. We recognize revenue upon completion of the services specified in the purchase order.

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 Engineered 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 generally 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. Revenue for arrangements whose durations are short in nature is recognized when the project is complete and billable to the customer under the right to invoice practical expedient.

Variable Consideration

The transaction price for our contracts may include variable consideration, which includes changes to transaction price for approved and unapproved change orders, claims and incentives. Change orders, claims and incentives are generally not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as a modification of the existing contract. We estimate variable consideration at the probability weighted value we expect to receive (or the most probable amount we expect to incur in the case of liquidated damages, if any), utilizing estimation methods that best predict the amount of consideration to which we will be entitled (or 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. During the year ended September 30, 2024, we began to disaggregate the revenue from our Residential operating segment's single-family electrical and single-family plumbing & HVAC businesses, which was aggregated under our Residential single-family business in prior periods, to provide more detail about the major product lines significant to our Residential business. Our consolidated revenue for the years ended September 30, 2024, 2023 and 2022 was derived from the following activities. Prior period amounts have been reclassified to conform with the current period presentation, where applicable. See details in the following tables:


	Year Ended September 30,
	2024		2023		2022
Communications	$	776,474	$	600,776	$	559,777
Residential
Single-family Electrical	732,334		717,386		660,602
Single-family Plumbing & HVAC	324,911		243,885		164,903
Multi-family and Other	331,595		318,233		305,909
Total Residential	1,388,840		1,279,504		1,131,414
Infrastructure Solutions
Industrial Services	53,291		46,091		65,686
Custom Engineered Solutions	297,805		171,262		101,427
Total Infrastructure Solutions	351,096		217,353		167,113
Commercial & Industrial	367,948		279,594		308,504
Total Revenue	$	2,884,358	$	2,377,227	$	2,166,808


	Year Ended September 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	554,160	$	1,388,840	$	336,786	$	316,365	$	2,596,151
Time-and-material		222,314		—		14,310		51,583		288,207
Total revenue		$	776,474	$	1,388,840	$	351,096	$	367,948	$	2,884,358


	Year Ended September 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	404,684	$	1,279,504	$	210,547	$	241,159	$	2,135,894
Time-and-material		196,092		—		6,806		38,435		241,333
Total revenue		$	600,776	$	1,279,504	$	217,353	$	279,594	$	2,377,227

	Year Ended September 30, 2022
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	367,513	$	1,131,414	$	159,994	$	282,522	$	1,941,443
Time-and-material		192,264		—		7,119		25,982		225,365
Total revenue		$	559,777	$	1,131,414	$	167,113	$	308,504	$	2,166,808

Accounts Receivable

Accounts receivable include amounts which we have billed or have an unconditional right to bill our customers. As of September 30, 2024, accounts receivable included $13,660 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 Consolidated Balance Sheets under the caption “Costs and estimated earnings in excess of billings”. Amounts by which cumulative billings to the customer under a contract as of a given date exceed cumulative contract revenue recognized are reflected as a current liability in our Consolidated Balance Sheets under the caption “Billings in excess of costs and estimated earnings”.

During the years ended September 30, 2024 and 2023, we recognized revenue of $98,564 and $82,520 related to our contract liabilities at October 1, 2023 and 2022, respectively.

We did not have any impairment losses recognized on our receivables or contract assets for the years ended September 30, 2024, 2023 and 2022.

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 September 30, 2024, we had remaining performance obligations of $1,175,695. The Company expects to recognize revenue on approximately $1,011,974 of the remaining performance obligations over the next 12 months, with the remaining recognized thereafter.

For the year ended September 30, 2024, net revenue recognized from our performance obligations satisfied in previous periods was not material.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Leases (Tables)

12 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

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


	Operating Leases		Finance Leases		Total
2025	$	22,487	$	4,701	$	27,188
2026	18,512		3,916		22,428
2027	13,526		2,148		15,674
2028	7,848		379		8,227
2029	3,591		46		3,637
Thereafter	3,467		—		3,467
Total undiscounted lease payments	$	69,431	$	11,190	$	80,621
Less: imputed interest	7,005		896		7,901
Present value of lease liabilities	$	62,426	$	10,294	$	72,720

Lease, Cost


	Year Ended September 30,
	2024		2023		2022
Operating lease cost	$	21,933	$	18,501	$	16,000
Finance lease cost
Amortization of lease assets	4,370		3,603		1,729
Interest on lease liabilities	553		746		269
Finance lease cost	4,923		4,349		1,998
Short-term lease cost	1,558		1,883		2,426
Variable lease cost	4,518		2,805		1,900
Total lease cost	$	32,932	$	27,538	$	22,324

Schedule of Cash Flow, Supplemental Disclosures

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


	Year Ended September 30,
	2024		2023		2022
Operating cash flows used for operating leases	$	24,381	$	22,022	$	20,799
Operating cash flows used for finance leases	553		746		269
Right-of-use assets obtained in exchange for new operating lease liabilities	21,795		27,491		31,422
Right-of-use assets obtained in exchange for new finance lease liabilities	1,678		5,973		7,950


	Year Ended September 30,
	2024		2023
Weighted-average remaining lease term - operating leases	3.8 years		4.5 years
Weighted-average remaining lease term - finance leases	2.7 years		3.4 years
Weighted-average discount rate - operating leases	5.5	%	5.1	%
Weighted-average discount rate - finance leases	6.2	%	6.0	%

Per Share Information

12 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

6. PER SHARE INFORMATION

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted earnings per share for the years ended September 30, 2024, 2023 and 2022:


	Year Ended September 30,
	2024		2023		2022
Numerator:
Net income attributable to IES Holdings, Inc.	$	219,116	$	108,288	$	34,762
Increase in noncontrolling interest	(17,140)		(15,701)		(4,695)
Net income attributable to restricted shareholders of IES Holdings, Inc.	—		(11)		(21)
Net income attributable to common shareholders of IES Holdings, Inc.	$	201,976	$	92,576	$	30,046

Denominator:
Weighted average common shares outstanding — basic	20,160,143		20,196,850		20,667,745
Effect of dilutive stock options and non-vested securities	254,789		216,182		226,880
Weighted average common and common equivalent shares outstanding — diluted	20,414,932		20,413,032		20,894,625

Earnings per share attributable to common shareholders of IES Holdings, Inc.:
Basic	$	10.02	$	4.58	$	1.45
Diluted	$	9.89	$	4.54	$	1.44

For the years ended September 30, 2024, 2023 and 2022, the average price of our common stock exceeded the exercise price of outstanding stock options; therefore, all of our outstanding stock options were included in the computation of diluted earnings per share. For the years ended September 30, 2024, 2023 and 2022, there were no other unvested performance awards excluded from the calculation of diluted earnings per share because the inclusion of such instruments would have been anti-dilutive.

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]


	Year Ended September 30,
	2024		2023		2022
Federal:
Current	$	53,318	$	27,205	$	9,401
Deferred	2,672		4,300		3
State:
Current	14,603		6,370		3,445
Deferred	1,572		886		(34)
Total provision for income taxes	$	72,165	$	38,761	$	12,815

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]


	Year Ended September 30,
	2024		2023		2022
Provision at the federal statutory rate	$	63,980	$	33,295	$	11,130
Increase resulting from:
Non-deductible expenses	4,285		2,017		1,610
State income taxes, net of federal deduction	11,952		6,338		2,114
Contingent tax liabilities	—		396		—
Change in valuation allowance	138		—		283

Other	743		—		427
Decrease resulting from:
Share-based compensation	(601)		(332)		(665)
Noncontrolling interest	(2,811)		(2,415)		(1,139)
Change in valuation allowance	—		(52)		—
Contingent tax liabilities	(5,521)		—		(133)
Component 2 goodwill utilization	—		—		(812)

Other	—		(486)		—
Total provision for income taxes	$	72,165	$	38,761	$	12,815

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]


	September 30,
	2024		2023
Deferred income tax assets:
Allowance for credit losses	$	371	$	349
Accrued expenses	19,415		18,167
Net operating loss carryforward	2,701		4,224
Various reserves	2,073		1,718
Intangible assets	390		—
Partnerships	7,200		7,539

Share-based compensation	1,364		1,298

Lease asset	15,630		14,207
Other	1,068		1,057
Subtotal	50,212		48,559
Less valuation allowance	961		823
Total deferred income tax assets	49,251		47,736
Deferred income tax liabilities:
Property and equipment	10,319		2,231
Intangible assets	—		9,984
Lease liability	15,475		14,102
Other	999		1,036
Total deferred income tax liabilities	26,793		27,353
Net deferred income tax assets	$	22,458	$	20,383

Schedule of Unrecognized Tax Benefits Roll Forward


	Year Ended September 30,
	2024		2023
Balance at beginning of period	$	22,347	$	21,746

Additions for positions of prior years	1,655		819
Reduction resulting from the lapse of the applicable statutes of limitations	(7,121)		(218)


Balance at end of period	$	16,881	$	22,347

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory, Raw Materials, Gross	$ 14,078	$ 14,334
Inventory, Work in Process, Gross	12,494	12,939
Inventory, Finished Goods, Gross	4,389	3,399
Other Inventory, Gross	70,767	64,983
Inventory, Net	$ 101,728	$ 95,655

Stockholders' Equity (Tables)

12 Months Ended

Sep. 30, 2024

Equity [Abstract]

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]


	Year Ended September 30,
		2023	2022
Unvested at beginning of year		13,639	16,757
Granted		—	—
Vested		(13,373)	(3,118)
Forfeited		(266)	—
Unvested at end of year		—	13,639

Share-Based Payment Arrangement, Cost by Plan

A summary of the compensation expense related to our stock awards recognized during the years ended September 30, 2024, 2023 and 2022 is provided in the table below:


	Year Ended September 30,
	2024		2023		2022
Restricted stock awards	$	—	$	23	$	137
Director PSUs	$	495	$	386	$	386
Employee PSUs	$	5,037	$	3,963	$	3,251

Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Executive Savings Plan assets	$ 986	$ 783
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(852)	(657)
Business Combination, Contingent Consideration, Liability, Noncurrent	(3,468)	(4,465)
Equity Securities	31,639
Debt Securities, Trading	3,364
Equity Securities, FV-NI, Unrealized Gain (Loss)	1,492	0	$ 0
Debt Securities, Trading, Unrealized Gain (Loss)	297	0	0
Debt and Equity Securities, Unrealized Gain (Loss)	1,789	0	0
Fair Value, Net Asset (Liability)	31,669	(4,339)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	(3,468)	(4,465)	$ (4,323)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	2,790
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ 713	$ 142
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Contingent consideration	Contingent consideration
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	$ (4,500)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Executive Savings Plan assets	986	$ 783
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(852)	(657)
Equity Securities	31,639
Debt Securities, Trading	3,364
Fair Value, Net Asset (Liability)	35,137	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	(3,468)	(4,465)
Fair Value, Net Asset (Liability)	$ (3,468)	$ (4,465)

Property and Equipment (Notes)

12 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5. PROPERTY AND EQUIPMENT

Property and equipment consists of the following:


	Estimated Useful Lives in Years			Year Ended September 30,
				2024		2023
Land	N/A			$	9,482	$	4,181
Buildings and improvements	5	-	20	55,805		33,753
Machinery and equipment	3	-	10	117,774		65,787
Information systems	2	-	8	14,968		14,508
Furniture and fixtures	5	-	7	2,976		2,507
Construction in progress				6,578		1,367
Property and equipment, gross				$	207,583	$	122,103
Less-Accumulated depreciation				(73,386)		(58,693)
Property and equipment, net				$	134,197	$	63,410

Depreciation expense, including amortization of internal-use software, was $19,533, $12,121 and $10,073, respectively, for the years ended September 30, 2024, 2023 and 2022.

Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

17. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following summarizes changes in the carrying value of goodwill by segment during the year ended September 30, 2024. The carrying value of goodwill was unchanged during the year ended September 30, 2023.


	Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total



Balance at September 30, 2023	2,816		51,370		38,209		—		92,395
Acquisitions (Note 19)	—		—		1,565		—		1,565

Balance at September 30, 2024	$	2,816	$	51,370	$	39,774	$	—	$	93,960

Based on the results of our annual goodwill impairment assessment at September 30, 2024, we concluded the fair value of each of our reporting units exceeded its book value, and therefore we recorded no impairment charges for the year ended September 30, 2024.

As of September 30, 2024 and 2023, we had accumulated impairment losses of $6,976 related to our Commercial & Industrial segment.

Intangible Assets

Intangible assets consist of the following:


				September 30, 2024
	Estimated Useful Lives (in Years)			Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20	$	13,821	$	(6,964)	$	6,857
Technical library	20			400		(221)		179
Customer relationships	1	-	15	92,796		(54,478)		38,318

Backlog and construction contracts	1	-	2	750		(214)		536
Total				$	107,767	$	(61,877)	$	45,890


				September 30, 2023
	Estimated Useful Lives (in Years)			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				$	111,445	$	(55,237)	$	56,208

For the years ended September 30, 2024, 2023 and 2022, amortization expense of intangible assets was $13,200, $13,684 and $13,666, respectively. Our estimated future amortization expense for years ending September 30 is as follows:


Year Ending September 30,
2025	$	13,284
2026	11,942
2027	8,466
2028	5,491
2029	2,823
Thereafter	3,884
Total	$	45,890

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Income Tax Examination [Line Items]
Current Federal Tax Expense (Benefit)	$ 53,318	$ 27,205	$ 9,401
Deferred Federal Income Tax Expense (Benefit)	2,672	4,300	3
Current State and Local Tax Expense (Benefit)	14,603	6,370	3,445
Deferred State and Local Income Tax Expense (Benefit)	1,572	886	(34)
Provision for income taxes	72,165	38,761	12,815
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	63,980	33,295	11,130
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	4,285	2,017	1,610
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	11,952	6,338	2,114
Effective Income Tax Rate Reconciliation, Tax Contingency, Domestic, Amount	0	396	0
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	138	(52)	283
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	743	0	427
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Amount	(601)	(332)	(665)
Noncontrolling interest	2,811	2,415	1,139
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount	(5,521)	0	(133)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	0	0	(812)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	0	(486)	0
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	371	349
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	19,415	18,167
Deferred Tax Assets, Operating Loss Carryforwards	2,701	4,224
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other	2,073	1,718
Deferred Tax Assets, Goodwill and Intangible Assets	390	0
Deferred Tax Assets, Investment in Subsidiaries	7,200	7,539
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	1,364	1,298
Deferred Tax Assets, Leases	15,630	14,207
Deferred Tax Assets, Other	1,068	1,057
Deferred Tax Assets, Gross	50,212	48,559
Deferred Tax Assets, Valuation Allowance	961	823
Deferred Tax Assets, Net of Valuation Allowance	49,251	47,736
Deferred Tax Liabilities, Property, Plant and Equipment	10,319	2,231
Deferred Tax Liabilities, Goodwill and Intangible Assets	0	9,984
Deferred Tax Liabilities, Leasing Arrangements	15,475	14,102
Deferred Tax Liabilities, Other	999	1,036
Deferred Tax Liabilities, Gross	26,793	27,353
Deferred tax assets	22,458	20,383
Operating Loss Carryforwards	4,493
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	40,085
Unrecognized Tax Benefits	22,347	21,746
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	1,655	819
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(7,121)	(218)
Unrecognized Tax Benefits	16,881	22,347	$ 21,746
Increase in Unrecognized Tax Benefits is Reasonably Possible	10,792
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1,452	$ 697
State and Local Jurisdiction [Member]
Income Tax Examination [Line Items]
Operating Loss Carryforwards Attributable To Goodwill Amortization	$ 1,665
Operating Loss Carryforwards, Limitations on Use	709

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 2,884,358	$ 2,377,227	$ 2,166,808
Cost of services	2,187,768	1,932,688	1,847,878
Gross profit	696,590	444,539	318,930
Selling, general and administrative expenses	396,684	298,625	262,714
Contingent consideration	714	277	277
Loss (gain) on sale of assets	(1,684)	(14,139)	(69)
Operating income	300,876	159,776	56,008
Interest Expense	1,338	3,022	2,970
Other (income) expense, net	(5,128)	(1,794)	37
Income from operations before income taxes	304,666	158,548	53,001
Provision for income taxes	72,165	38,761	12,815
Net income (loss)	232,501	119,787	40,186
Net (income) loss attributable to noncontrolling interest	(13,385)	(11,499)	(5,424)
Comprehensive income (loss) attributable to IES Holdings, Inc.	$ 219,116	$ 108,288	$ 34,762
Earnings (loss) per share, basic	$ 10.02	$ 4.58	$ 1.45
Earnings (loss) per share, diluted	$ 9.89	$ 4.54	$ 1.44
Weighted Average Number of Shares Outstanding, Basic	20,160,143	20,196,850	20,667,745
Weighted Average Number of Shares Outstanding, Diluted	20,414,932	20,413,032	20,894,625
Net income (loss) attributable to IES Holdings, Inc.	$ 219,116	$ 108,288	$ 34,762

Controlling Shareholder	12 Months Ended
Controlling Shareholder	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Controlling Shareholder [Text Block]	3. CONTROLLING SHAREHOLDER Tontine Associates, L.L.C. (“Tontine Associates”), together with its affiliates (collectively, “Tontine”) is the Company's controlling stockholder, owning approximately 55 percent of the Company’s outstanding common stock based on a Form 4 filed by Tontine with the SEC on September 16, 2024 and the Company's shares outstanding as of November 18, 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 shareholders. While Tontine is subject to certain restrictions under federal securities laws on sales of its shares as an affiliate, the Company has filed a resale shelf registration statement to register for resale a majority of the shares of IES common stock owned by Tontine. As long as the resale 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 resale shelf registration statement and in any prospectus supplement filed in connection with an offering pursuant to the resale shelf registration statement. Should Tontine, or its underlying individual owners, sell or otherwise dispose of all or a significant portion of its position in IES, a change in ownership 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 a 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. On August 1, 2024, the Company entered into an amendment of the sublease agreement to extend the term of the agreement through September 30, 2025, effective September 1, 2024. Payments by the Company are at a rate consistent with that paid by Tontine Associates to its landlord. On December 6, 2018, the Company entered into a Board Observer Letter Agreement (the "Observer Agreement") with Tontine Associates, in order to assist Tontine in managing its investment in the Company. Subject to the terms and conditions set forth in the Observer Agreement, the Company granted Tontine the right, at any time that Tontine holds at least 20% of the outstanding common stock of the Company, to appoint a representative to serve as an observer to the Board (the “Board Observer”). The Board Observer, who must be reasonably acceptable to those members of the Board who are not affiliates of Tontine, shall have no voting rights or other decision making authority. Subject to the terms and conditions set forth in the Observer Agreement, so long as Tontine has the right to appoint a Board Observer, the Board Observer will have the right to attend and participate in meetings of the Board and the committees thereof, subject to confidentiality requirements, and to receive reimbursement for reasonable out-of-pocket expenses incurred in his or her capacity as a Board Observer and such rights to coverage under the Company’s directors’ and officers’ liability insurance policy as are available to the Company’s directors.

DEI Document - USD ($)
$ in Thousands

12 Months Ended

Sep. 30, 2024

Nov. 18, 2024

Mar. 31, 2024

Entity Information [Line Items]

Document Type

10-K

Document Annual Report

true

Document Period End Date

--09-30

Document Period End Date

Sep. 30, 2024

Document Transition Report

false

Entity File Number

001-13783

Entity Registrant Name

IES Holdings, Inc.

Entity Incorporation, State or Country Code

Entity Tax Identification Number

76-0542208

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

Entity Address, Postal Zip Code

77056

City Area Code

713

Local Phone Number

860-1500

Title of 12(b) Security

Common Stock, par value $0.01 per share

Trading Symbol

IESC

Security Exchange Name

NASDAQ

Entity Well-known Seasoned Issuer

Entity Voluntary Filers

Entity Current Reporting Status

Yes

Entity Interactive Data Current

Yes

Entity Filer Category

Large Accelerated Filer

Entity Small Business

false

Entity Emerging Growth Company

false

ICFR Auditor Attestation Flag

true

Entity Shell Company

false

Entity Public Float

$ 1,045,300

Entity Common Stock, Shares Outstanding

19,971,670

Documents Incorporated by Reference

Certain information contained in the Proxy Statement for the 2025 Annual Meeting of Stockholders of the Registrant to be held on February 20, 2025, is incorporated by reference into Part III of this Annual Report on Form 10-K.

Entity Central Index Key

0001048268

Amendment Flag

false

Document Fiscal Year Focus

2024

Document Fiscal Period Focus

Document Financial Statement Error Correction [Flag]

false

Operating Segments

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

11. 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 CODM reviews operating results for the purposes 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 office provides general and administrative services, as well as support services, to our four operating segments. Management allocates certain shared costs among segments for selling, general and administrative expenses and depreciation expense.

Segment information for the years ended September 30, 2024, 2023 and 2022 is as follows:


		Year Ended September 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	776,474	$	1,388,840	$	351,096	$	367,948	$	—	$	2,884,358
Cost of services		623,844		1,024,440		245,743		293,741		—		2,187,768
Gross profit		152,630		364,400		105,353		74,207		—		696,590
Selling, general and administrative		65,752		228,371		37,394		32,925		32,242		396,684

Contingent consideration		—		36		678		—		—		714
Gain on sale of assets		(18)		(1,354)		(184)		(114)		(14)		(1,684)
Income (loss) from operations		$	86,896	$	137,347	$	67,465	$	41,396	$	(32,228)	$	300,876
Other data:
	Depreciation and amortization expense	$	3,627	$	20,752	$	9,783	$	2,028	$	913	$	37,103
	Capital expenditures	$	13,493	$	15,620	$	8,916	$	5,205	$	1,925	$	45,159
	Total assets	$	285,478	$	395,682	$	288,765	$	89,023	$	185,078	$	1,244,026


		Year Ended September 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	600,776	$	1,279,504	$	217,353	$	279,594	$	—	$	2,377,227
Cost of services		494,964		1,026,524		162,905		248,295		—		1,932,688
Gross profit		105,812		252,980		54,448		31,299		—		444,539
Selling, general and administrative		54,344		169,737		26,260		25,225		23,059		298,625

Contingent consideration		—		277		—		—		—		277
Loss (gain) on sale of assets		12		69		(1,029)		(13,198)		7		(14,139)
Income (loss) from operations		$	51,456	$	82,897	$	29,217	$	19,272	$	(23,066)	$	159,776
Other data:
	Depreciation and amortization expense	$	2,215	$	19,281	$	5,198	$	1,640	$	1,073	$	29,407
	Capital expenditures	$	2,203	$	9,114	$	2,767	$	2,525	$	1,058	$	17,667
	Total assets	$	205,924	$	386,829	$	180,871	$	87,677	$	120,299	$	981,600


		Year Ended September 30, 2022
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	559,777	$	1,131,414	$	167,113	$	308,504	$	—	$	2,166,808
Cost of services		490,959		928,161		138,444		290,314		—		1,847,878
Gross profit		68,818		203,253		28,669		18,190		—		318,930
Selling, general and administrative		46,717		144,100		25,129		30,557		16,211		262,714

Contingent consideration		—		277		—		—		—		277
Loss (gain) on sale of assets		12		20		(46)		(55)		—		(69)
Income (loss) from operations		$	22,089	$	58,856	$	3,586	$	(12,312)	$	(16,211)	$	56,008
Other data:
	Depreciation and amortization expense	$	1,550	$	15,617	$	5,575	$	2,561	$	165	$	25,468
	Capital expenditures	$	2,004	$	10,054	$	14,729	$	1,890	$	578	$	29,255
	Total assets	$	210,875	$	394,757	$	161,828	$	114,529	$	52,720	$	934,709

- Definition

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

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Bad debt expense	$ 1,481	$ (120)	$ 3,141
Deferred financing cost amortization	287	268	199
Depreciation and amortization	37,103	29,407	25,468
Loss (gain) on sale of assets	1,684	14,139	69
Non-cash compensation	5,532	4,372	3,775
Deferred income taxes	(1,126)	5,185	(31)
Accounts receivable	(93,507)	2,917	(87,160)
Inventories	(3,522)	(1,142)	(27,760)
Costs and estimated earnings in excess of billings	(3,979)	3,456	(8,688)
Prepaid expenses and other current assets	(16,720)	(7,322)	(18,609)
Other non-current assets	174	2,067	(3,006)
Accounts payable and accrued expenses	57,894	(10,047)	67,128
Billings in excess of costs and estimated earnings	54,550	19,051	22,450
Other non-current liabilities	423	162	(762)
Net cash provided by operating activities	234,404	153,902	16,262
Purchases of property and equipment	45,159	17,667	29,255
Proceeds from sale of assets	3,694	20,602	219
Payments to Acquire Equity Method Investments	(380)	(165)	(500)
Cash received (paid) in conjunction with business combinations	(67,002)	0	0
Net cash used in investing activities	(108,847)	2,770	(29,536)
Borrowings of debt	2,896,346	2,381,562	1,924,469
Repayments of debt	(2,896,346)	(2,464,221)	(1,882,148)
Finance lease payment	(4,257)	(3,338)	(1,801)
Payments for Repurchase of Redeemable Noncontrolling Interest	(32,000)	0	0
Distribution to noncontrolling interests	(16,155)	(11,491)	(7,000)
Purchase of treasury stock	(44,028)	(8,284)	(18,556)
Issuance of shares	19	22	53
Net cash used in financing activities	(100,495)	(105,750)	15,017
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	25,062	50,922	1,743
CASH, CASH EQUIVALENTS and RESTRiCTED CASH, beginning of period	75,770	24,848	23,105
CASH, CASH EQUIVALENTS and RESTRICTED CASH, end of period	100,832	75,770	24,848
Cash paid for interest	536	2,089	3,068
Cash paid for income taxes (net)	61,614	12,056	3,953
Bad debt expense	1,481	(120)	3,141
Issuance of shares	19	22	53
Cash and cash equivalents	100,832	75,770	24,848
Depreciation and amortization	37,103	29,407	25,468
Loss (gain) on sale of assets	1,684	14,139	69
Operating income (loss)	300,876	159,776	56,008
Deferred financing cost amortization	287	268	199
Non-cash compensation	5,532	4,372	3,775
Contingent consideration	714	277	277
Net income (loss)	$ 232,501	$ 119,787	$ 40,186
Earnings (loss) per share, basic	$ 10.02	$ 4.58	$ 1.45
Earnings (loss) per share, diluted	$ 9.89	$ 4.54	$ 1.44
Weighted Average Number of Shares Outstanding, Basic	20,160,143	20,196,850	20,667,745
Weighted Average Number of Shares Outstanding, Diluted	20,414,932	20,413,032	20,894,625
Gross profit	$ 696,590	$ 444,539	$ 318,930
Cost of services	2,187,768	1,932,688	1,847,878
Revenues	2,884,358	2,377,227	2,166,808
Provision for income taxes	72,165	38,761	12,815
Selling, general and administrative expenses	396,684	298,625	262,714
Other (income) expense, net	(5,128)	(1,794)	37
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	304,666	158,548	53,001
Cash paid for income taxes (net)	61,614	12,056	3,953
Fair Value of Assets Acquired	0	4,712	0
Noncash or Part Noncash Acquisition, Other Liabilities Assumed	2,790
Increase (Decrease) in Accounts Receivable	93,507	(2,917)	87,160
Increase (Decrease) in Debt Securities, Trading, and Equity Securities, FV-NI	33,214	0	0
Deferred income taxes	(1,126)	5,185	(31)
Unrealized Gain (Loss) on Investments	(1,789)	0	0
Payments for Repurchase of Redeemable Noncontrolling Interest	32,000	0	0
Payment for Contingent Consideration Liability, Financing Activities	$ 4,074	$ 0	$ 0

Inventory

12 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

16. INVENTORY

Inventories consist of the following components:


	September 30,
	2024		2023
Raw materials	$	14,078	$	14,334
Work in process	12,494		12,939
Finished goods	4,389		3,399
Parts and supplies	70,767		64,983
Total inventories	$	101,728	$	95,655

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Redeemable Noncontrolling Interest

The activity in redeemable noncontrolling interest is summarized in the table below.


	Year Ended September 30,
	2024		2023		2022
Balance at beginning of period	$	49,951	$	29,193	$	24,594
Net income attributable to noncontrolling interests	13,385		11,499		5,424
Distributions to noncontrolling interests	(16,155)		(11,491)		(7,000)
Adjustments to record noncontrolling interests at redemption value	22,695		20,750		6,175
Adjustment to record noncontrolling interests at value of consideration paid to acquire ownership interest	3,120		—		—
Purchase of ownership interest from noncontrolling interests	(32,000)		—		—
Balance at end of period	$	40,996	$	49,951	$	29,193

Business	12 Months Ended
Business	Sep. 30, 2024
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	1. BUSINESS 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.

Fair Value Measurements

12 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

15. FAIR VALUE MEASUREMENTS

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

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


	September 30, 2024
	Total Fair Value		Quoted Prices (Level 1)		Significant Unobservable (Level 3)
Equity securities	$	31,639	$	31,639	$	—
Debt securities classified as trading securities	3,364		3,364		—
Executive savings plan assets	986		986		—
Executive savings plan liabilities	(852)		(852)		—
Contingent consideration liability	(3,468)		—		(3,468)
Total	$	31,669	$	35,137	$	(3,468)


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

Executive savings plan liabilities	(657)		(657)		—

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

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


	Year Ended September 30,
	2024		2023		2022
Unrealized gain on equity securities	$	1,492	$	—	$	—
Unrealized gain on debt securities	297		—		—
Total unrealized gain on trading securities	$	1,789	$	—	$	—

On April 1, 2024, we entered into a contingent consideration arrangement valued at $2,790 in connection with the acquisition of Greiner Industries, Inc. For more information, refer to Note 19, “Business Combinations and Divestitures.” The contingent consideration obligation related to Bayonet, which was acquired in fiscal year 2021, was settled in cash for $4,500 in December 2023. Net adjustments to fair value of such liabilities were included in Contingent consideration in our Consolidated Statements of Comprehensive Income. The table below presents the fair value of this obligation, which used significant unobservable inputs (Level 3).


	Contingent Consideration Agreement
Fair value at September 30, 2022	$	(4,323)

Net adjustments to fair value	(142)
Fair value at September 30, 2023	$	(4,465)
Acquisitions	(2,790)
Net adjustments to fair value	(713)
Settlements	4,500
Fair value at September 30, 2024	$	(3,468)

Below is a description of the inputs used to value the assets summarized in the preceding tables:

Level 1 — Inputs represent unadjusted quoted prices for identical assets exchanged in active markets.

Level 2 — Inputs include directly or indirectly observable inputs other than Level 1 inputs such as quoted prices for similar assets exchanged in active or inactive markets; quoted prices for identical assets exchanged in inactive markets; and other inputs that are considered in fair value determinations of the assets.

Level 3 — Inputs include unobservable inputs used in the measurement of assets. Management is required to use its own assumptions regarding unobservable inputs because there is little, if any, market activity in the assets or related observable inputs that can be corroborated at the measurement date.

- Definition

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

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+ Details

Leases (Notes)

12 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lessee, Finance Leases

9. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease term generally ranges 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 lease liabilities were $21,981 and $19,496, respectively, as of September 30, 2024 and 2023, and current finance lease liabilities were $4,563 and $4,301, respectively, as of September 30, 2024 and 2023. Current operating and finance lease

liabilities were included in "Accounts payable and accrued expenses" in the Consolidated Balance Sheets as of September 30, 2024 and 2023. 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 Consolidated Balance Sheets.

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


	Operating Leases		Finance Leases		Total
2025	$	22,487	$	4,701	$	27,188
2026	18,512		3,916		22,428
2027	13,526		2,148		15,674
2028	7,848		379		8,227
2029	3,591		46		3,637
Thereafter	3,467		—		3,467
Total undiscounted lease payments	$	69,431	$	11,190	$	80,621
Less: imputed interest	7,005		896		7,901
Present value of lease liabilities	$	62,426	$	10,294	$	72,720

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of September 30, 2024, is $8,542.

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


	Year Ended September 30,
	2024		2023		2022
Operating lease cost	$	21,933	$	18,501	$	16,000
Finance lease cost
Amortization of lease assets	4,370		3,603		1,729
Interest on lease liabilities	553		746		269
Finance lease cost	4,923		4,349		1,998
Short-term lease cost	1,558		1,883		2,426
Variable lease cost	4,518		2,805		1,900
Total lease cost	$	32,932	$	27,538	$	22,324

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


	Year Ended September 30,
	2024		2023		2022
Operating cash flows used for operating leases	$	24,381	$	22,022	$	20,799
Operating cash flows used for finance leases	553		746		269
Right-of-use assets obtained in exchange for new operating lease liabilities	21,795		27,491		31,422
Right-of-use assets obtained in exchange for new finance lease liabilities	1,678		5,973		7,950


	Year Ended September 30,
	2024		2023
Weighted-average remaining lease term - operating leases	3.8 years		4.5 years
Weighted-average remaining lease term - finance leases	2.7 years		3.4 years
Weighted-average discount rate - operating leases	5.5	%	5.1	%
Weighted-average discount rate - finance leases	6.2	%	6.0	%

For a discussion of leases with certain related parties which are included above, see Note 13, “Related-Party Transactions.”

Rent expense was $23,491, $20,384 and $18,426 for the years ended September 30, 2024, 2023 and 2022, respectively.

Lessee, Operating Leases

9. LEASES

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


	Operating Leases		Finance Leases		Total
2025	$	22,487	$	4,701	$	27,188
2026	18,512		3,916		22,428
2027	13,526		2,148		15,674
2028	7,848		379		8,227
2029	3,591		46		3,637
Thereafter	3,467		—		3,467
Total undiscounted lease payments	$	69,431	$	11,190	$	80,621
Less: imputed interest	7,005		896		7,901
Present value of lease liabilities	$	62,426	$	10,294	$	72,720

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of September 30, 2024, is $8,542.

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


	Year Ended September 30,
	2024		2023		2022
Operating lease cost	$	21,933	$	18,501	$	16,000
Finance lease cost
Amortization of lease assets	4,370		3,603		1,729
Interest on lease liabilities	553		746		269
Finance lease cost	4,923		4,349		1,998
Short-term lease cost	1,558		1,883		2,426
Variable lease cost	4,518		2,805		1,900
Total lease cost	$	32,932	$	27,538	$	22,324

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


	Year Ended September 30,
	2024		2023		2022
Operating cash flows used for operating leases	$	24,381	$	22,022	$	20,799
Operating cash flows used for finance leases	553		746		269
Right-of-use assets obtained in exchange for new operating lease liabilities	21,795		27,491		31,422
Right-of-use assets obtained in exchange for new finance lease liabilities	1,678		5,973		7,950


	Year Ended September 30,
	2024		2023
Weighted-average remaining lease term - operating leases	3.8 years		4.5 years
Weighted-average remaining lease term - finance leases	2.7 years		3.4 years
Weighted-average discount rate - operating leases	5.5	%	5.1	%
Weighted-average discount rate - finance leases	6.2	%	6.0	%

For a discussion of leases with certain related parties which are included above, see Note 13, “Related-Party Transactions.”

Rent expense was $23,491, $20,384 and $18,426 for the years ended September 30, 2024, 2023 and 2022, respectively.

Revenue Recognition (Tables)

12 Months Ended

Sep. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of Revenue [Table Text Block]


	Year Ended September 30,
	2024		2023		2022
Communications	$	776,474	$	600,776	$	559,777
Residential
Single-family Electrical	732,334		717,386		660,602
Single-family Plumbing & HVAC	324,911		243,885		164,903
Multi-family and Other	331,595		318,233		305,909
Total Residential	1,388,840		1,279,504		1,131,414
Infrastructure Solutions
Industrial Services	53,291		46,091		65,686
Custom Engineered Solutions	297,805		171,262		101,427
Total Infrastructure Solutions	351,096		217,353		167,113
Commercial & Industrial	367,948		279,594		308,504
Total Revenue	$	2,884,358	$	2,377,227	$	2,166,808


	Year Ended September 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	554,160	$	1,388,840	$	336,786	$	316,365	$	2,596,151
Time-and-material		222,314		—		14,310		51,583		288,207
Total revenue		$	776,474	$	1,388,840	$	351,096	$	367,948	$	2,884,358


	Year Ended September 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	404,684	$	1,279,504	$	210,547	$	241,159	$	2,135,894
Time-and-material		196,092		—		6,806		38,435		241,333
Total revenue		$	600,776	$	1,279,504	$	217,353	$	279,594	$	2,377,227

	Year Ended September 30, 2022
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Fixed-price		$	367,513	$	1,131,414	$	159,994	$	282,522	$	1,941,443
Time-and-material		192,264		—		7,119		25,982		225,365
Total revenue		$	559,777	$	1,131,414	$	167,113	$	308,504	$	2,166,808

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Current operating lease liabilities	$ 21,981	$ 19,496
Current finance lease liabilities	4,563	4,301
Lessee, Operating Lease, Liability, Payments, Due Year One	22,487
Lessee, Operating Lease, Liability, Payments, Due Year Two	18,512
Lessee, Operating Lease, Liability, Payments, Due Year Three	13,526
Lessee, Operating Lease, Liability, Payments, Due Year Four	7,848
Lessee, Operating Lease, Liability, Payments, Due Year Five	3,591
Lessee, Operating Lease, Liability, Payments, Due after Year Five	3,467
Lessee, Operating Lease, Liability, Payments, Due	69,431
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	7,005
Operating Lease, Liability	62,426
Finance Lease, Liability, Payments, Due Year One	4,701
Finance Lease, Liability, Payments, Due Year Two	3,916
Finance Lease, Liability, Payments, Due Year Three	2,148
Finance Lease, Liability, Payments, Due Year Four	379
Finance Lease, Liability, Payments, Due Year Five	46
Finance Lease, Liability, Payments, Due after Year Five	0
Finance Lease, Liability, Payment, Due	11,190
Finance Lease, Liability, Undiscounted Excess Amount	896
Finance Lease, Liability	10,294
Lessee, Total Lease, Liability, Payments, Due Year One	27,188
Total Lease, Liability, Payments, Year Two	22,428
Total Lease, Liability, Payments, Year Three	15,674
Total Lease, Liability, Payments, Year Four	8,227
Total Lease, Liability, Payments, Year Five	3,637
Total Lease, Liability, Payments, Due After Year Five	3,467
Total Lease, Liability, Payments Due	80,621
Total Lease, Liability, Undiscounted Excess Amount	7,901
Total Lease, Liability	72,720
Minimum payments for leases not yet commenced	8,542
Operating Lease, Cost	21,933	18,501	$ 16,000
Finance Lease, Right-of-Use Asset, Amortization	4,370	3,603	1,729
Finance Lease, Interest Expense	553	746	269
Finance Lease, Cost	4,923	4,349	1,998
Short-term Lease, Cost	1,558	1,883	2,426
Variable Lease, Cost	4,518	2,805	1,900
Lease, Cost	32,932	27,538	22,324
Operating Lease, Payments	24,381	22,022	20,799
Finance Lease, Interest Payment on Liability	553	746	269
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	21,795	27,491	31,422
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 1,678	$ 5,973	7,950
Operating Lease, Weighted Average Remaining Lease Term	3 years 9 months 18 days	4 years 6 months
Finance Lease, Weighted Average Remaining Lease Term	2 years 8 months 12 days	3 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5.50%	5.10%
Finance Lease, Weighted Average Discount Rate, Percent	6.20%	6.00%
Operating Leases, Rent Expense			$ 18,426
Payments for Rent	$ 23,491	$ 20,384
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Accounts receivable	$ 469,833	$ 363,836
Accounts and Other Receivables, Net, Current	89,793	76,934
Inventories	101,728	95,655
Costs and estimated earnings in excess of billings	60,139	48,620
Marketable Securities, Current	35,003	0
Prepaid expenses and other current assets	14,366	10,481
Total current assets	871,694	671,296
Property and equipment, net	134,197	63,410
Goodwill	93,960	92,395
Intangible assets, net	45,890	56,208
Deferred tax assets	22,458	20,383
Operating right of use assets	61,956	61,761
Other non-current assets	13,871	16,147
Total assets	1,244,026	981,600
Accounts payable and accrued expenses	363,582	296,797
Billings in excess of costs and estimated earnings	158,972	103,771
Total current liabilities	522,554	400,568
Long-term debt	0	0
Operating long-term lease liabilities	40,445	42,098
Liability for Uncertainty in Income Taxes, Noncurrent	16,677	22,047
Other non-current liabilities	12,241	16,951
Total liabilities	591,917	481,664
Noncontrolling interest	$ 40,996	$ 49,951
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred stock, value	$ 0	$ 0
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	19,971,670	20,194,218
Common stock, value	$ 220	$ 220
Treasury Stock, Common, Shares	2,077,859	1,855,311
Treasury stock, value	$ (90,325)	$ (49,450)
Additional paid-in capital	203,458	203,431
Retained earnings	497,760	295,784
Total stockholders' equity	611,113	449,985
Total liabilities and stockholders' equity	1,244,026	981,600
Cash and Cash Equivalents, at Carrying Value	$ 100,832	$ 75,770

Audit Information	12 Months Ended
Audit Information	Sep. 30, 2024
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Houston, Texas

Stockholders' Equity

12 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stockholders' Equity Note Disclosure

12. 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 581,169 shares were available for issuance at September 30, 2024.

We measure and record compensation expense for all share-based payment awards based on the fair value of the awards granted at the date of grant. The fair value of restricted stock awards and phantom stock unit awards is determined based on the number of shares granted and the closing price of IES’s common stock on the date of grant. For awards vesting upon achievement of a market condition, the likelihood of achieving that market condition is considered in determining the fair value of the grant, which we expense ratably over the vesting period. For awards vesting upon achievement of a performance condition, we record expense based on the grant date fair value when it becomes probable the performance condition will be achieved. Forfeitures are recorded in the period in which they occur. The resulting compensation expense is recognized on a straight-line basis over the requisite service period, which is generally the vesting period.

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, our Board authorized the repurchase from time to time of an additional 1.0 million shares of the Company's common stock under the stock repurchase program. In December 2022, our Board of Directors terminated our previous stock repurchase program and authorized a new $40,000 stock repurchase program. On July 31, 2024, the Board authorized a new $200,000 stock repurchase program after the $40,000 stock repurchase program was fully utilized. 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 or reinstated at any time at the Company’s discretion and without notice.

We repurchased 289,284 and 224,013 shares of our common stock in open market transactions at an average price of $136.34 and $31.06 per share during the years ended September 30, 2024 and 2023, respectively.

Treasury Stock

During the year ended September 30, 2024, we issued 104,600 shares of treasury stock to employees and repurchased 40,308 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. We also repurchased 289,284 shares of common stock on the open market pursuant to our stock repurchase program. During the year ended September 30, 2024, we issued 2,500 shares of treasury stock to satisfy the exercise of outstanding options, of which 56 shares were repurchased to pay the exercise price of options. We had no outstanding unexercised stock options remaining as of September 30, 2024.

During the year ended September 30, 2023, we issued 105,755 shares of treasury stock to employees and repurchased 32,158 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. We also repurchased 224,013 shares of common stock on the open market pursuant to our stock repurchase program, and 266 shares of restricted stock awards were forfeited by former employees and returned to treasury stock. During the year ended September 30, 2023, we issued 3,000 unrestricted shares to satisfy the exercise of outstanding options.

Restricted Stock

We did not have any unvested restricted stock awards outstanding or related activity during the year ended September 30, 2024. A summary of restricted stock awards for the years ended September 30, 2023 and 2022 is provided in the table below:


	Year Ended September 30,
		2023	2022
Unvested at beginning of year		13,639	16,757
Granted		—	—
Vested		(13,373)	(3,118)
Forfeited		(266)	—
Unvested at end of year		—	13,639

The fair value of shares vesting during the years ended September 30, 2023 and 2022 was $461 and $150, respectively. Fair value was calculated as the number of shares vested times the market price of shares on the date of vesting.

All the restricted shares granted under the Equity Incentive Plan (vested or unvested) participate in dividends issued to common shareholders, if any.

Director Phantom Stock Units

Director phantom stock units (“Director PSUs”) are primarily granted to the members of the Board of Directors as part of their overall compensation. These 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. 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.

The vesting of these awards is subject to either the achievement of specified levels of cumulative net income before taxes (a performance condition) or specified stock price levels (a market condition) and continued performance of services, or based on continued performance of services through the vesting date alone. For stock awards where vesting depends on achievement of a performance condition, we record expense when we conclude it is probable that the performance condition will be met. At September 30, 2024, it is deemed probable that the portion of the awards that vest based on performance conditions will vest.

A summary of Employee PSU activity for the year ended September 30, 2024, which are subject to the achievement of certain performance metrics, is provided in the table below:


Unvested at September 30, 2023			325,813
Granted			86,563
Vested			(99,579)
Forfeited			(12,496)
Unvested at September 30, 2024			300,301

A summary of the compensation expense related to our stock awards recognized during the years ended September 30, 2024, 2023 and 2022 is provided in the table below:


	Year Ended September 30,
	2024		2023		2022
Restricted stock awards	$	—	$	23	$	137
Director PSUs	$	495	$	386	$	386
Employee PSUs	$	5,037	$	3,963	$	3,251

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Jul. 31, 2024	Dec. 01, 2022	Sep. 30, 2021	May 20, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Capital Shares Reserved for Future Issuance	581,169
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1,500,000						1,000,000.0
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	104,600	105,755
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	40,308	32,158
Options exercised, shares	2,500	3,000	9,000
Stock Repurchase Program, Authorized Amount				$ 200,000	$ 40,000
Common Stock, Shares, Issued	22,049,529	22,049,529	22,049,529			22,049,529
Revenues	$ 2,884,358	$ 2,377,227	$ 2,166,808
Residential [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenues	1,388,840	1,279,504	1,131,414
Single Family Plumbing HVAC \| Residential [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenues	324,911	$ 243,885	$ 164,903
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period		(266)	0
Share-based Payment Arrangement, Expense	0	$ 23	$ 137
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	0	13,639	16,757
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted		0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		(13,373)	(3,118)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		0	13,639
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 461	$ 150
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 495	$ 386	386
Performance Based Phantom Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(12,496)
Shares, Issued	86,563
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	(99,579)
Shares, Outstanding	300,301	325,813
Phantom Share Units, Employee PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 5,037	$ 3,963	$ 3,251
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	56
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	2,500	3,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	3,000,000.0
Repurchase Agreements
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	289,284	224,013
Treasury Stock Acquired, Average Cost Per Share	$ 136.34	$ 31.06

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to IES Holdings, Inc.	$ 219,116	$ 108,288	$ 34,762

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]


	Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total



Balance at September 30, 2023	2,816		51,370		38,209		—		92,395
Acquisitions (Note 19)	—		—		1,565		—		1,565

Balance at September 30, 2024	$	2,816	$	51,370	$	39,774	$	—	$	93,960

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


				September 30, 2023
	Estimated Useful Lives (in Years)			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				$	111,445	$	(55,237)	$	56,208

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]


Year Ending September 30,
2025	$	13,284
2026	11,942
2027	8,466
2028	5,491
2029	2,823
Thereafter	3,884
Total	$	45,890

- Definition

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

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+ Details

Business Combinations and Divestitures

12 Months Ended

Sep. 30, 2023

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

19. BUSINESS COMBINATIONS AND DIVESTITURES

Business combinations

On April 1, 2024, the Company acquired 100% of the equity interests of Greiner Industries, Inc. ("Greiner"), a Mount Joy, Pennsylvania-based structural steel fabrication and services company for an aggregate total purchase price of $70,334. Greiner is part of our Infrastructure Solutions segment and continues to operate under the Greiner name. The acquisition of Greiner expands our geographic footprint, adds custom structural steel fabrication to our product offerings, and provides additional capacity for our existing custom engineered product offerings. In addition to cash consideration, net of cash acquired, of $67,544, the aggregate purchase price also includes contingent consideration of up to $5,000 upon achievement of certain future earnings targets, which was valued at $2,790 as of the date of the acquisition. The fair value of the total consideration for this transaction remains subject to post-closing adjustments as of the date of this Annual Report on Form 10-K.

The Company accounted for the transaction under the acquisition method of accounting, which requires recording assets and liabilities at fair value (Level 3). The total purchase price, and the allocation thereof to the assets acquired and liabilities assumed, is preliminary and subject to change pending the finalization of post-closing working capital adjustments. The preliminary valuation of the assets acquired and liabilities assumed is as follows:


Trade receivables	$	13,971
Other current assets		10,115
Property and equipment		48,209
Intangible assets		2,900
Goodwill		1,565
Current liabilities		(6,426)



Net assets acquired	$	70,334

In connection with this acquisition, we acquired goodwill of $1,565, all of which is tax deductible, attributable to an assembled workforce and other intangibles that do not qualify for separate recognition. The intangible assets acquired primarily consisted of customer relationships, backlog and trade name with a total weighted-average amortization period of 3.5 years.

Greiner contributed $34,038 in revenue and $2,489 in operating income during the year ended September 30, 2024.

We completed no acquisitions in fiscal years 2023 and 2022.

Divestitures

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

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan, Cost	$ 6,163	$ 5,309	$ 4,494
Defined Benefit Plan, Funded Percentage				92.57%
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Funded Percentage				92.57%

Goodwill and Intangible Assets Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 107,767	$ 111,445
Finite-Lived Intangible Assets, Accumulated Amortization	(61,877)	(55,237)
Intangible Assets, Net (Excluding Goodwill)	45,890	56,208
Amortization of Intangible Assets	13,200	13,684	$ 13,666
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	13,284
Finite-Lived Intangible Assets, Amortization Expense, Year Two	11,942
Finite-Lived Intangible Assets, Amortization Expense, Year Three	8,466
Finite-Lived Intangible Assets, Amortization Expense, Year Four	5,491
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,823
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	3,884
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	13,821	14,621
Finite-Lived Intangible Assets, Accumulated Amortization	(6,964)	(6,973)
Intangible Assets, Net (Excluding Goodwill)	$ 6,857	$ 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 Assets, Gross	$ 400	$ 400
Finite-Lived Intangible Assets, Accumulated Amortization	(221)	(201)
Intangible Assets, Net (Excluding Goodwill)	$ 179	$ 199
Technical Library \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 92,796	$ 91,426
Finite-Lived Intangible Assets, Accumulated Amortization	(54,478)	(43,065)
Intangible Assets, Net (Excluding Goodwill)	$ 38,318	$ 48,361
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year	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 Assets, Gross		$ 40
Finite-Lived Intangible Assets, Accumulated Amortization		(40)
Intangible Assets, Net (Excluding Goodwill)		$ 0
Noncompete Agreements [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life		5 years
Construction Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 750	$ 4,958
Finite-Lived Intangible Assets, Accumulated Amortization	(214)	(4,958)
Intangible Assets, Net (Excluding Goodwill)	$ 536	$ 0
Construction Contracts [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Construction Contracts [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years	1 year

Related Party Transactions (Notes)	12 Months Ended
Related Party Transactions (Notes)	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	13. RELATED-PARTY TRANSACTIONS The Company is a 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. On August 1, 2024, the Company entered into an amendment of the sublease agreement to extend the term of the agreement through September 30, 2025, effective September 1, 2024. Payments by the Company are at a rate consistent with that paid by Tontine Associates to its landlord. See Note 3, “Controlling Shareholder” for additional information regarding Tontine.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Per Share Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Undistributed Earnings (Loss) Available to Common Shareholders, Basic	$ 201,976	$ 92,576	$ 30,046
Noncontrolling Interest, Period Increase (Decrease)	(17,140)	(15,701)	(4,695)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	(11)	(21)
Comprehensive income (loss) attributable to IES Holdings, Inc.	$ 219,116	$ 108,288	$ 34,762
Weighted Average Number of Shares Outstanding, Basic	20,160,143	20,196,850	20,667,745
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	254,789	216,182	226,880
Weighted Average Number of Shares Outstanding, Diluted	20,414,932	20,413,032	20,894,625
Earnings (loss) per share, basic	$ 10.02	$ 4.58	$ 1.45
Earnings (loss) per share, diluted	$ 9.89	$ 4.54	$ 1.44

Business Combinations and Divestitures (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 07, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Apr. 01, 2024
Business Combinations [Abstract]
Cash received (paid) in conjunction with business combinations		$ 67,002	$ 0	$ 0
Sale of Stock, Percentage of Ownership before Transaction	100.00%
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal		$ 13,045
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		Loss (gain) on sale of assets
Business Acquisition [Line Items]
Cash received (paid) in conjunction with business combinations		$ 67,002	0	$ 0
Goodwill		93,960	$ 92,395
Acquiree, Greiner
Business Combinations [Abstract]
Cash received (paid) in conjunction with business combinations		67,544
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		70,334
Business Combination, Contingent Consideration, Liability					$ 2,790
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					5,000
Cash received (paid) in conjunction with business combinations		$ 67,544
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					2,900
Goodwill					1,565
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities					(6,426)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					70,334
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					48,209
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets					$ 10,115
Business Acquisition, Date of Acquisition Agreement		Apr. 01, 2024
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		3 years 6 months
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 34,038
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		$ 2,489
Business Acquisition, Percentage of Voting Interests Acquired					100.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables					$ 13,971

Subsequent Events	12 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	20. SUBSEQUENT EVENTS On October 4, 2024, we entered into a funding commitment to join a consortium led by Mason Capital Management LLC to acquire the CB&I storage solutions business, a designer and builder of storage facilities, tanks and terminals for energy and industrial markets, from McDermott International, Ltd. Upon close of the transaction, which we expect to occur by the end of calendar year 2024, we expect to make a cash payment of approximately $45 million, subject to customary closing adjustments.

Subsequent Events (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Nov. 21, 2024	Sep. 30, 2024	Oct. 04, 2024
Subsequent Event [Line Items]
Subsequent Event, Date		Oct. 04, 2024
Subsequent Event
Subsequent Event [Line Items]
Subsequent Event, Description	On October 4, 2024, we entered into a funding commitment to join a consortium led by Mason Capital Management LLC to acquire the CB&I storage solutions business, a designer and builder of storage facilities, tanks and terminals for energy and industrial markets, from McDermott International, Ltd. Upon close of the transaction, which we expect to occur by the end of calendar year 2024, we expect to make a cash payment of approximately $45 million, subject to customary closing adjustments.
Equity Method Investment, Aggregate Cost			$ 45

Detail of Certain Balance Sheet Accounts (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Detail of Certain Balance Sheet Accounts [Abstract]
Accounts payable, trade	$ 149,381	$ 138,591
Accrued compensation and benefits	116,465	90,667
Accrued insurance liabilities	11,158	7,726
Current operating lease liabilities	21,981	19,496
Taxes Payable	22,778	10,414
Other accrued expenses	41,819	29,903
Accounts payable and accrued expenses	363,582	296,797
Other non-current assets	$ 13,871	$ 16,147

Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]


	Estimated Useful Lives in Years			Year Ended September 30,
				2024		2023
Land	N/A			$	9,482	$	4,181
Buildings and improvements	5	-	20	55,805		33,753
Machinery and equipment	3	-	10	117,774		65,787
Information systems	2	-	8	14,968		14,508
Furniture and fixtures	5	-	7	2,976		2,507
Construction in progress				6,578		1,367
Property and equipment, gross				$	207,583	$	122,103
Less-Accumulated depreciation				(73,386)		(58,693)
Property and equipment, net				$	134,197	$	63,410

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock, Common	Common Stock [Member]
Common Stock, Shares, Issued	22,049,529
Treasury Stock, Common, Shares	(1,316,998)
Stockholders' Equity Attributable to Parent, Beginning Balance at Sep. 30, 2021	$ 345,953	$ 201,899		$ 173,134	$ (29,300)	$ 220
Issuances under compensation plans	$ 0	3,638			(3,638)
Issuances under compensation plans, shares	157,167
Options exercised	$ (53)	165			(218)
Options exercised, shares	9,000
Non-cash compensation	$ 3,775	3,775
Decrease (increase) in noncontrolling interest	4,699		$ 4,699
Net Income (Loss) Attributable to Noncontrolling Interest	$ 5,424
Stock Repurchased During Period, Shares	(556,798)
Stock Repurchased During Period, Value	$ (18,556)	0			(18,556)
Net income (loss) attributable to IES Holdings, Inc.	34,762		34,762
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2022	$ 361,288	201,871		203,197	(44,000)	220
Common Stock, Shares, Issued	22,049,529
Treasury Stock, Common, Shares	(1,707,629)
Issuances under compensation plans	$ 0	2,764			(2,764)
Issuances under compensation plans, shares	105,755
Options exercised	$ (22)	58			(80)
Options exercised, shares	3,000
Non-cash compensation	$ 4,372	4,372
Decrease (increase) in noncontrolling interest	15,701		15,701
Net Income (Loss) Attributable to Noncontrolling Interest	$ 11,499
Stock Repurchased During Period, Shares	(256,437)
Stock Repurchased During Period, Value	$ (8,284)	10			(8,294)
Net income (loss) attributable to IES Holdings, Inc.	108,288		108,288
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2023	449,985	203,431		$ 295,784	(49,450)	220
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	$ 108,288
Common Stock, Shares, Issued	22,049,529
Treasury Stock, Common, Shares	(1,855,311)
Noncontrolling interest	$ 49,951
Issuances under compensation plans	$ 0	3,062			(3,062)
Issuances under compensation plans, shares	104,600
Options exercised	$ (19)	72			(91)
Options exercised, shares	2,500
Non-cash compensation	$ 5,517	5,517
Decrease (increase) in noncontrolling interest	17,140		17,140
Net Income (Loss) Attributable to Noncontrolling Interest	$ 13,385
Stock Repurchased During Period, Shares	(329,648)
Stock Repurchased During Period, Value	$ (44,028)	0			(44,028)
Net income (loss) attributable to IES Holdings, Inc.	219,116
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2024	611,113	203,458	$ 497,760		$ (90,325)	$ 220
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent	$ (2,356)	$ (2,356)
Common Stock, Shares, Issued	22,049,529
Treasury Stock, Common, Shares	(2,077,859)
Noncontrolling interest	$ 40,996

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 07, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Deferred financing cost amortization		$ 287	$ 268	$ 199
Debt Issuance Costs, Noncurrent, Net		598	836
Accounts Receivable, Allowance for Credit Loss		(1,818)	(1,649)
Deferred tax assets		22,458	20,383
Letters of Credit Outstanding, Amount		4,756
Redeemable Noncontrolling Interest, Equity, Redemption Value		40,996
Noncontrolling Interest, Change in Redemption Value		17,140	15,701	4,699
Operating right of use assets		61,956	61,761
Operating Lease, Liability		62,426
Stockholders' Equity Attributable to Parent		611,113	449,985	361,288	$ 345,953
Redeemable Noncontrolling Interest [Line Items]
Sale of Stock, Percentage of Ownership before Transaction	100.00%
Noncontrolling Interest [Line Items]
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest			108,288
Noncontrolling Interest, Change in Redemption Value		(17,140)	$ (15,701)	(4,699)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent		2,356
Accounting Standards Update and Change in Accounting Principle			In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”). This standard amends the existing guidance under ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations. Under this standard, the acquirer of a business is expected to recognize and measure acquired contract assets and contract liabilities as if the acquirer entered into the original contract on the same date with the same terms in accordance with ASC 606 rather than at fair value on the date of acquisition. This update is effective for fiscal years beginning after December 15, 2022 and for interim periods within that year. We adopted this standard on October 1, 2023 using the prospective method. ASU 2021-08 impacts how we account for business combinations completed after its adoption. In December 2019, the FASB issued Accounting Standard Update No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This update is effective for fiscal years beginning after December 15, 2020 and for interim periods within that year. Early adoption is permitted. We adopted this standard on October 1, 2021 with immaterial impact on our Consolidated Financial Statements.
Noncontrolling Interest
Accounting Policies [Abstract]
Noncontrolling Interest, Change in Redemption Value		(22,695)	$ (20,750)	(6,175)
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Carrying Amount		40,996	49,951	29,193	$ 24,594
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest		13,385	11,499	5,424
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests			0	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders		(16,155)	(11,491)	(7,000)
Noncontrolling Interest, Change in Redemption Value		22,695	$ 20,750	$ 6,175
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent		3,120
Noncontrolling Interest, Decrease from Deconsolidation		$ (32,000)
Noncontrolling Owner
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		20.00%
Owner
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		80.00%

Fair Value Measurements (Details) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Acquiree, Greiner
Business Acquisition [Line Items]
Goodwill, Acquired During Period	$ 1,565

Inventory (Tables)

12 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]


	September 30,
	2024		2023
Raw materials	$	14,078	$	14,334
Work in process	12,494		12,939
Finished goods	4,389		3,399
Parts and supplies	70,767		64,983
Total inventories	$	101,728	$	95,655

Detail of Certain Balance Sheet Accounts (Tables)

12 Months Ended

Sep. 30, 2024

Detail of Certain Balance Sheet Accounts [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]


	September 30,
	2024		2023
Accounts payable, trade	$	149,381	$	138,591
Accrued compensation and benefits	116,465		90,667
Accrued insurance liabilities	11,158		7,726
Current operating lease liabilities	21,981		19,496
Income taxes payable	22,778		10,414
Other accrued expenses	41,819		29,903
	$	363,582	$	296,797

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Land	$ 9,482	$ 4,181
Buildings and Improvements, Gross	55,805	33,753
Machinery and Equipment, Gross	117,774	65,787
Capitalized Computer Software, Gross	14,968	14,508
Furniture and Fixtures, Gross	2,976	2,507
Property, Plant and Equipment, Gross	207,583	122,103
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(73,386)	(58,693)
Construction in Progress, Gross	6,578	1,367
Property and equipment, net	134,197	63,410
Depreciation	$ 19,533	$ 12,121	$ 10,073
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years	20 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years	10 years
Software and Software Development Costs [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years	2 years
Software and Software Development Costs [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	8 years	8 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years	7 years

Operating Segments (Details) - USD ($) $ in Thousands	12 Months Ended
Operating Segments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 2,884,358	$ 2,377,227	$ 2,166,808
Cost of services	2,187,768	1,932,688	1,847,878
Gross profit	696,590	444,539	318,930
Selling, general and administrative expenses	396,684	298,625	262,714
Contingent consideration	714	277	277
Loss (gain) on sale of assets	(1,684)	(14,139)	(69)
Operating income (loss)	300,876	159,776	56,008
Depreciation and amortization	37,103	29,407	25,468
Capital expenditures	45,159	17,667	29,255
Total assets	1,244,026	981,600	934,709
Communications [Member]
Segment Reporting Information [Line Items]
Revenues	776,474	600,776	559,777
Cost of services	623,844	494,964	490,959
Gross profit	152,630	105,812	68,818
Selling, general and administrative expenses	65,752	54,344	46,717
Contingent consideration	0	0	0
Loss (gain) on sale of assets	(18)	12	12
Operating income (loss)	86,896	51,456	22,089
Depreciation and amortization	3,627	2,215	1,550
Capital expenditures	13,493	2,203	2,004
Total assets	285,478	205,924	210,875
Residential [Member]
Segment Reporting Information [Line Items]
Revenues	1,388,840	1,279,504	1,131,414
Cost of services	1,024,440	1,026,524	928,161
Gross profit	364,400	252,980	203,253
Selling, general and administrative expenses	228,371	169,737	144,100
Contingent consideration	36	277	277
Loss (gain) on sale of assets	(1,354)	69	20
Operating income (loss)	137,347	82,897	58,856
Depreciation and amortization	20,752	19,281	15,617
Capital expenditures	15,620	9,114	10,054
Total assets	395,682	386,829	394,757
Infrastructure Solutions [Member]
Segment Reporting Information [Line Items]
Revenues	351,096	217,353	167,113
Cost of services	245,743	162,905	138,444
Gross profit	105,353	54,448	28,669
Selling, general and administrative expenses	37,394	26,260	25,129
Contingent consideration	678	0	0
Loss (gain) on sale of assets	(184)	(1,029)	(46)
Operating income (loss)	67,465	29,217	3,586
Depreciation and amortization	9,783	5,198	5,575
Capital expenditures	8,916	2,767	14,729
Total assets	288,765	180,871	161,828
Commercial and Industrial [Member]
Segment Reporting Information [Line Items]
Revenues	367,948	279,594	308,504
Cost of services	293,741	248,295	290,314
Gross profit	74,207	31,299	18,190
Selling, general and administrative expenses	32,925	25,225	30,557
Contingent consideration	0	0	0
Loss (gain) on sale of assets	(114)	(13,198)	(55)
Operating income (loss)	41,396	19,272	(12,312)
Depreciation and amortization	2,028	1,640	2,561
Capital expenditures	5,205	2,525	1,890
Total assets	89,023	87,677	114,529
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0
Cost of services	0	0	0
Gross profit	0	0	0
Selling, general and administrative expenses	32,242	23,059	16,211
Contingent consideration	0	0	0
Loss (gain) on sale of assets	(14)	7	0
Operating income (loss)	(32,228)	(23,066)	(16,211)
Depreciation and amortization	913	1,073	165
Capital expenditures	1,925	1,058	578
Total assets	$ 185,078	$ 120,299	$ 52,720

Detail of Certain Balance Sheet Accounts (Notes)

12 Months Ended

Sep. 30, 2024

Detail of Certain Balance Sheet Accounts [Abstract]

Detail Of Certain Balance Sheet Accounts [Text Block]

7. DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS

Accounts payable and accrued expenses consist of the following:


	September 30,
	2024		2023
Accounts payable, trade	$	149,381	$	138,591
Accrued compensation and benefits	116,465		90,667
Accrued insurance liabilities	11,158		7,726
Current operating lease liabilities	21,981		19,496
Income taxes payable	22,778		10,414
Other accrued expenses	41,819		29,903
	$	363,582	$	296,797

Income Taxes (Notes)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

10. INCOME TAXES

Federal and state income tax provisions are as follows:


	Year Ended September 30,
	2024		2023		2022
Federal:
Current	$	53,318	$	27,205	$	9,401
Deferred	2,672		4,300		3
State:
Current	14,603		6,370		3,445
Deferred	1,572		886		(34)
Total provision for income taxes	$	72,165	$	38,761	$	12,815

Actual income tax expense differs from income tax expense computed by applying the U.S. federal statutory corporate rate to income (loss) before income taxes as follows:


	Year Ended September 30,
	2024		2023		2022
Provision at the federal statutory rate	$	63,980	$	33,295	$	11,130
Increase resulting from:
Non-deductible expenses	4,285		2,017		1,610
State income taxes, net of federal deduction	11,952		6,338		2,114
Contingent tax liabilities	—		396		—
Change in valuation allowance	138		—		283

Other	743		—		427
Decrease resulting from:
Share-based compensation	(601)		(332)		(665)
Noncontrolling interest	(2,811)		(2,415)		(1,139)
Change in valuation allowance	—		(52)		—
Contingent tax liabilities	(5,521)		—		(133)
Component 2 goodwill utilization	—		—		(812)

Other	—		(486)		—
Total provision for income taxes	$	72,165	$	38,761	$	12,815

Deferred income tax provisions result from temporary differences in the recognition of income and expenses for financial reporting purposes and for income tax purposes. The income tax effects of these temporary differences, representing deferred income tax assets and liabilities, result principally from the following:


	September 30,
	2024		2023
Deferred income tax assets:
Allowance for credit losses	$	371	$	349
Accrued expenses	19,415		18,167
Net operating loss carryforward	2,701		4,224
Various reserves	2,073		1,718
Intangible assets	390		—
Partnerships	7,200		7,539

Share-based compensation	1,364		1,298

Lease asset	15,630		14,207
Other	1,068		1,057
Subtotal	50,212		48,559
Less valuation allowance	961		823
Total deferred income tax assets	49,251		47,736
Deferred income tax liabilities:
Property and equipment	10,319		2,231
Intangible assets	—		9,984
Lease liability	15,475		14,102
Other	999		1,036
Total deferred income tax liabilities	26,793		27,353
Net deferred income tax assets	$	22,458	$	20,383

In fiscal 2024 and 2023, the valuation allowance on our deferred tax assets increased by $138 and decreased by $52, respectively, which is included in “Provision for income taxes” in our Consolidated Statements of Comprehensive Income.

As of September 30, 2024, we had available approximately $4,493 of federal net tax operating loss carry forward for federal income tax purposes. This carry forward, which may provide future tax benefits, is subject to an annual limitation of $709 under Section 382 of the Internal Revenue Code and will begin to expire in 2029. As of September 30, 2024, we had available approximately $40,085 state net tax operating loss carry forwards, including $1,665 from net operating losses on which no tax benefit has been recognized and has not been recorded as a deferred tax asset. The significant majority of these carry forwards, which may provide future tax benefits, will not begin to expire until 2026. We have provided valuation allowances on all net operating losses where it is determined it is more likely than not that they will expire without being utilized.

In assessing the realizability of deferred tax assets at September 30, 2024, we considered whether it was more likely than not that some portion or all of the deferred tax assets will not be realized. Our realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which these temporary differences become deductible. As a result, we have recorded a net deferred tax asset of $22,458 on our Consolidated Balance Sheets. We will continue to evaluate the appropriateness of our remaining deferred tax assets and need for valuation allowances on a quarterly basis.

GAAP requires financial statement reporting of the expected future tax consequences of uncertain tax return reporting positions on the presumption that all relevant tax authorities possess full knowledge of those tax reporting positions, as well as all of the pertinent facts and circumstances, but it prohibits discounting of any of the related tax effects for the time value of money. The evaluation of a tax position is a two-step process. The first step is the recognition process to determine if it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authority, based on the technical merits of the position. The second step is a measurement process whereby a tax position that meets the more likely than not recognition threshold is calculated to determine the amount of benefit/expense to recognize in the financial statements. The tax position is measured at the largest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement.

A reconciliation of the beginning and ending balances of unrecognized tax benefit is as follows:


	Year Ended September 30,
	2024		2023
Balance at beginning of period	$	22,347	$	21,746

Additions for positions of prior years	1,655		819
Reduction resulting from the lapse of the applicable statutes of limitations	(7,121)		(218)


Balance at end of period	$	16,881	$	22,347

As of September 30, 2024 and 2023, $16,881 and $22,347, respectively, of unrecognized tax benefits would result in a decrease in the provision for income tax expense. We anticipate that approximately $10,792 in liabilities for unrecognized tax benefits, including accrued interest, primarily from net operating losses on which no tax benefit has been recognized, may be reversed in the next twelve months. The reversal is predominantly due to the expiration of the statutes of limitation for unrecognized tax benefits.

We had approximately $1,452 and $697 accrued for the payment of interest and penalties at September 30, 2024 and 2023, respectively. We recognize interest and penalties related to unrecognized tax benefits as part of the provision for income taxes.

The tax years ended September 30, 2021, and forward are subject to federal audit as are tax years prior to September 30, 2021, to the extent of unutilized net operating losses generated in those years. The tax years ended September 30, 2020, and forward are subject to state audits as are tax years prior to September 30, 2020, to the extent of unutilized net operating losses generated in those years.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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+ Details

Debt	12 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	8. DEBT We had no outstanding borrowings as of September 30, 2024 or 2023. At September 30, 2024, we had $4,756 in outstanding letters of credit and $143,381 of availability under our revolving credit facility. Any amounts outstanding under our revolving credit facility are due and payable in September 2026, upon expiration of our revolving credit facility, and all amounts described as available are available without triggering our financial covenants under the Amended Credit Agreement (as defined below). The interest rate under our revolving credit facility was 6.33% at September 30, 2024. For the years ended September 30, 2024, 2023 and 2022, we incurred interest expense of $1,338, $3,022 and $2,970, respectively. The Revolving Credit Facility On April 28, 2022 we entered into the Third Amended and Restated Credit and Security Agreement (the "Amended Credit Agreement"), which, among other things, increased the maximum borrowing amount under our revolving credit facility from $125,000 to $150,000. The Amended Credit Agreement also removed the aggregate cap on Company investments in certain securities and the cap on the Company’s ability to make stock repurchases, in each case subject to the satisfaction of certain liquidity requirements. The Amended Credit Agreement, which matures on September 30, 2026, contains customary affirmative, negative and financial covenants. As of September 30, 2024, the Company was in compliance with the financial covenants under the Amended Credit Agreement, requiring that we maintain: • a Fixed Charge Coverage Ratio (as defined in the Amended Credit Agreement), measured quarterly on a trailing four-quarter basis at the end of each quarter, of at least 1.1 to 1.0; and • minimum Liquidity of at least ten percent (10%) of the Maximum Revolver Amount, or $15,000; with, for purposes of this covenant, at least fifty percent (50%) of our Liquidity comprised of Excess Availability (as defined in the Amended Credit Agreement). At September 30, 2024, our Liquidity was $244,213, our Excess Availability was $143,381 (or greater than 50% of minimum Liquidity), and our Fixed Charge Coverage Ratio was 3.4:1.0.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Operating Segments (Tables)

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

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


		Year Ended September 30, 2024
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	776,474	$	1,388,840	$	351,096	$	367,948	$	—	$	2,884,358
Cost of services		623,844		1,024,440		245,743		293,741		—		2,187,768
Gross profit		152,630		364,400		105,353		74,207		—		696,590
Selling, general and administrative		65,752		228,371		37,394		32,925		32,242		396,684

Contingent consideration		—		36		678		—		—		714
Gain on sale of assets		(18)		(1,354)		(184)		(114)		(14)		(1,684)
Income (loss) from operations		$	86,896	$	137,347	$	67,465	$	41,396	$	(32,228)	$	300,876
Other data:
	Depreciation and amortization expense	$	3,627	$	20,752	$	9,783	$	2,028	$	913	$	37,103
	Capital expenditures	$	13,493	$	15,620	$	8,916	$	5,205	$	1,925	$	45,159
	Total assets	$	285,478	$	395,682	$	288,765	$	89,023	$	185,078	$	1,244,026


		Year Ended September 30, 2023
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	600,776	$	1,279,504	$	217,353	$	279,594	$	—	$	2,377,227
Cost of services		494,964		1,026,524		162,905		248,295		—		1,932,688
Gross profit		105,812		252,980		54,448		31,299		—		444,539
Selling, general and administrative		54,344		169,737		26,260		25,225		23,059		298,625

Contingent consideration		—		277		—		—		—		277
Loss (gain) on sale of assets		12		69		(1,029)		(13,198)		7		(14,139)
Income (loss) from operations		$	51,456	$	82,897	$	29,217	$	19,272	$	(23,066)	$	159,776
Other data:
	Depreciation and amortization expense	$	2,215	$	19,281	$	5,198	$	1,640	$	1,073	$	29,407
	Capital expenditures	$	2,203	$	9,114	$	2,767	$	2,525	$	1,058	$	17,667
	Total assets	$	205,924	$	386,829	$	180,871	$	87,677	$	120,299	$	981,600


		Year Ended September 30, 2022
		Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Corporate		Total
Revenues		$	559,777	$	1,131,414	$	167,113	$	308,504	$	—	$	2,166,808
Cost of services		490,959		928,161		138,444		290,314		—		1,847,878
Gross profit		68,818		203,253		28,669		18,190		—		318,930
Selling, general and administrative		46,717		144,100		25,129		30,557		16,211		262,714

Contingent consideration		—		277		—		—		—		277
Loss (gain) on sale of assets		12		20		(46)		(55)		—		(69)
Income (loss) from operations		$	22,089	$	58,856	$	3,586	$	(12,312)	$	(16,211)	$	56,008
Other data:
	Depreciation and amortization expense	$	1,550	$	15,617	$	5,575	$	2,561	$	165	$	25,468
	Capital expenditures	$	2,004	$	10,054	$	14,729	$	1,890	$	578	$	29,255
	Total assets	$	210,875	$	394,757	$	161,828	$	114,529	$	52,720	$	934,709

Controlling Shareholder (Details)	Sep. 30, 2024
Risks and Uncertainties [Abstract]
ControllingShareholderOwnershipPercentage	55.00%

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	18. 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 September 30, 2024 and 2023, we had $11,158 and $7,726, respectively, accrued for self-insurance liabilities. We are also subject to construction defect liabilities, primarily within our Residential segment. Because these accruals are based on judgment and estimates, and involve variables that are inherently uncertain, such as the outcome of litigation and an assessment of insurance coverage, there can be no assurance that the ultimate liability will not be higher or lower than such estimates. Some of the underwriters of our casualty insurance program require us to post letters of credit as collateral. This is common in the insurance industry. To date, we have not had a situation where an underwriter has had reasonable cause to effect payment under a letter of credit. At September 30, 2024 and 2023, we utilized $4,756 and $4,166, respectively, of our outstanding letters of credit to collateralize our insurance program. Surety As of September 30, 2024, the estimated cost to complete our bonded projects was approximately $133,863. 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. Posting letters of credit in favor of our sureties reduces the borrowing availability under our revolving credit facility. Other Commitments and Contingencies Some of our customers and vendors require us to post letters of credit, or provide intercompany guarantees, as a means of guaranteeing performance under our contracts and ensuring payment by us to subcontractors and vendors. If our customer has reasonable cause to effect payment under a letter of credit, we would be required to reimburse our creditor for the letter of credit. From time to time, we may enter into firm purchase commitments for materials, such as copper or aluminum wire, which we expect to use in the ordinary course of business. These commitments are typically for terms of less than one year and require us to buy minimum quantities of materials at specific intervals at a fixed price over the term. As of September 30, 2024, we did not have any such firm commitments to purchase materials.

Summary of Significant Accounting Policies (Notes)

12 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Marketable Securities

Inventories

Property and Equipment

Goodwill

Intangible Assets

Intangible assets with definite lives are amortized over their estimated useful lives based on expected economic benefit with no residual value.

Debt Issuance Costs

Revenue Recognition

Accounts Receivable and Allowance for Credit Losses

Comprehensive Income (Loss)

Comprehensive income (loss) includes all changes in equity during a period except those resulting from investments by and distributions to stockholders.

Income Taxes

Fair Value of Financial Instruments

Noncontrolling Interest

If all of the noncontrolling interests remaining outstanding at September 30, 2024 had been redeemable at that date, the redemption amount would have been $40,996.

The activity in redeemable noncontrolling interest is summarized in the table below.


	Year Ended September 30,
	2024		2023		2022
Balance at beginning of period	$	49,951	$	29,193	$	24,594
Net income attributable to noncontrolling interests	13,385		11,499		5,424
Distributions to noncontrolling interests	(16,155)		(11,491)		(7,000)
Adjustments to record noncontrolling interests at redemption value	22,695		20,750		6,175
Adjustment to record noncontrolling interests at value of consideration paid to acquire ownership interest	3,120		—		—
Purchase of ownership interest from noncontrolling interests	(32,000)		—		—
Balance at end of period	$	40,996	$	49,951	$	29,193

Leases

Accounting Standards Recently Adopted

Accounting Standards Update and Change in Accounting Principle

Significant Accounting Policies [Text Block]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Marketable Securities

Inventories

Property and Equipment

Goodwill

Intangible Assets

Intangible assets with definite lives are amortized over their estimated useful lives based on expected economic benefit with no residual value.

Debt Issuance Costs

Revenue Recognition

Accounts Receivable and Allowance for Credit Losses

Comprehensive Income (Loss)

Comprehensive income (loss) includes all changes in equity during a period except those resulting from investments by and distributions to stockholders.

Income Taxes

Fair Value of Financial Instruments

Noncontrolling Interest

If all of the noncontrolling interests remaining outstanding at September 30, 2024 had been redeemable at that date, the redemption amount would have been $40,996.

The activity in redeemable noncontrolling interest is summarized in the table below.


	Year Ended September 30,
	2024		2023		2022
Balance at beginning of period	$	49,951	$	29,193	$	24,594
Net income attributable to noncontrolling interests	13,385		11,499		5,424
Distributions to noncontrolling interests	(16,155)		(11,491)		(7,000)
Adjustments to record noncontrolling interests at redemption value	22,695		20,750		6,175
Adjustment to record noncontrolling interests at value of consideration paid to acquire ownership interest	3,120		—		—
Purchase of ownership interest from noncontrolling interests	(32,000)		—		—
Balance at end of period	$	40,996	$	49,951	$	29,193

Leases

Accounting Standards Recently Adopted

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details