The share price of Infrastructure and Energy Alternatives Inc. (IEA) was down -5.23% in after-hours trading at $11.05. In the last session, IEA stock closed at $11.66 with a gain of 2.82% or $0.32. Over the course of the day, shares of IEA stock fluctuated between $11.16 and $11.899. Exchanges of 0.85 million shares exceeded the IEA stock average daily volume of 0.54 million and have exceeded its volume for the year to date of 0.82 million.

IEA stock has retreated 230.78% over the past 12 months, and it is down -8.04% over the last week. IEA stock has declined by -42.31% over the past six months, and by -13.76% over the past three months. So far this year, IEA has returned -29.63%. Following weaker results, IEA stock fell.

Is IEA doing well?

The Infrastructure and Energy Alternatives is one of the most reputable infrastructure companies with renewable energy and specialties in civil construction. With a national presence and offices throughout the country, IEA’s service offerings cover every phase of the construction process.

The IEA stock provides a full range of delivery models from full engineering, procurement, and construction through turnkey, design-build, and maintenance services. With more than 240 wind and solar projects completed across North America, IEA is one of the larger players in the renewable energy industry.

Infrastructure and Energy Alternatives released its financial results for the quarter ended June 30, 2021.

A look at second quarter highlights.

• As of end-of-quarter, IEA’s backlog stood at $2.8 billion, an increase of $86.0 million from last quarter.
• According to IEA, $1.8 billion in backlog will be recognized over the next 12 months.
• This year’s second quarter was an IEA stock record, posting $560.1 million in revenue as opposed to $480.6 million last year.
• IEA reported a net income of $4.7 million, or $0.12 per diluted share, as opposed to $3.6 million, or $0.09 per share, for the second quarter of last year.
• As a result, IEA’s second quarter adjusted EBITDA of $35.7 million fell short of last year’s $39.3 million.

In its updated guidance for 2021, the IEA indicated revenue will range from $1.80 billion to $1.95 billion and Adjusted EBITDA will range from $130 million to $140 million.

IEA stock offering:

An underwritten public offering has also been announced by Infrastructure and Energy Alternatives (IEA) for the offer and sale of shares of common stock as well as, to certain investors, warrants to purchase the stock. IEA is the sole seller of the securities.