$IESC

EMCOR Group (EME) and IES Holdings (IESC) are benefiting from data-center construction. EME reported Q2 revenue of $5.15B, up 19.8%, and EPS of $9.06, up 34.8%. IES recently acquired DBM Global, altering its profile. EME trades at a lower forward earnings multiple (22x) than IES (27x). EME's full-year EPS guidance is $32-$33.25. Both companies show strong revenue growth, with EME at 22.66% and IES at 37.79%.

IES Holdings amended its credit agreement, increasing borrowing capacity to $700 million, including a $200 million term loan and a $500 million revolving credit facility. The amendment, led by Wells Fargo, adds newly acquired subsidiaries as guarantors. The company used funds to support its DBM Global acquisition and expects improved liquidity.

IES Holdings, Inc. (IESC) filed an SEC Form 8-K — Completion of Acquisition or Disposition of Assets. Exhibit 99.1 IES Holdings Completes Acquisition of DBM Global Transaction Establishes New Structural Line of Business, Adding One of the Largest Independent Structural Steel Fabrication and Erection Platforms in the U.S. HOUSTON, Oct. 05, 2026 (GLOBE NEWSWIRE) — IES Holdings, Inc

INNOVATE Corp. (VATE) filed an SEC Form 8-K — Completion of Acquisition or Disposition of Assets. Exhibit 99.1 INNOVATE Completes Sale of DBM Global to IES Holdings NEW YORK, October 5, 2026 ( Globe Newswire ) – INNOVATE CORP.® (NYSE: VATE) (“INNOVATE”) announced today that it has completed the previously announced sale of DBM Global, Inc. (“DBMG”) to IES Holdings, Inc. (Nasd

IES Holdings (NASDAQ: IESC) completed its acquisition of DBM Global for $691M, including cash and IES shares. DBM Global, with $1.5B in annual revenue, will operate as IES's new Structural line. IES funded the deal with cash, borrowings, and equity, aiming to repay debt quickly.

Barrington Research upgraded Copart (CPRT) to Outperform with a $40 target, while Freedom Broker upgraded IES Holdings (IESC) to Buy with a $440 target. CPRT closed at $30.75 and IESC at $319.52 on Thursday.

IES Holdings (NASDAQ:IESC) agreed to acquire DBM Global from INNOVATE Corp. (NYSE:VATE) for $650M in cash and stock. IESC reported Q3 2026 revenue of $1.24B (+40% YoY) and net income of $153M (+98% YoY), while VATE's Q2 2026 revenue was $421.6M (+74% YoY) with net income of $10.4M. IESC is debt-free, while VATE plans to use proceeds to reduce debt.

Simply Wall St reports IES Holdings (IESC) posted Q3 2026 revenue of $1,242.7 million and net income of $152.97 million, up from $890.16 million and $77.23 million a year earlier. The stock’s valuation is described as mixed: P/E 33.6x vs peers 36.2x and industry 40.1x, while a DCF estimates $523.25 vs a $766.33 share price.

IES Holdings (NASDAQ: IESC) agreed to acquire DBM Global Inc. from Innovate Corporation (NYSE: VATE) for about $650 million, including minority interests. The deal uses cash and IESC shares, with the cash funded via cash on hand and borrowings under an expanded Wells Fargo credit facility. DBM Global revenue was about $1.3 billion for the 12 months ended March 31, 2026. Closing is expected in the quarter ending Dec. 31, 2026.

Investing.com’s deep dive on IES Holdings (IESC) says the company reported fiscal Q3 2026 revenue of $1.24B (+40% YoY) and diluted EPS of $7.57, nearly double the prior year. It cites a $4.5B backlog and a 2-for-1 stock split. The article also notes IESC’s planned ~$685M acquisition of DBM Global, to add a structural segment, expected to close in Q4 2026.