IES Holdings (IESC) is having a moment. The stock jumped more than 30% in the previous session after the company reported fiscal third-quarter results that blew past Wall Street's expectations, and it's still climbing in premarket trading on Monday.

What's driving the excitement? For starters, the numbers. IES reported adjusted earnings of $6.70 per share, well above the consensus estimate of $4.83. Revenue increased 40% year over year to $1.243 billion, topping analysts' expectations of $1.08 billion. Operating income climbed 60% from a year earlier to $178.5 million.

The company also ended the quarter with $77.3 million in cash, no debt and $310.6 million in marketable securities as of June 30. That's a pretty solid balance sheet.

But the real headline grabber was the announcement of a two-for-one stock split in the form of a stock dividend, approved by the board on July 29. Shareholders of record as of Aug. 14 will receive one additional share for each share owned, with the additional shares distributed after the market closes on Aug. 21. The stock will retain its par value of 1 cent per share after the split.

So what's fueling all this growth? The ongoing data center buildout, which remains the key growth engine for IES. The Communications segment posted revenue of $453.1 million, up 51% year over year, driven by strong demand from data center, distribution center and high-tech manufacturing customers. Operating income increased to $83.6 million from $47.8 million.

Infrastructure Solutions revenue jumped 73% to $224.1 million as demand for custom-engineered data center products remained strong. Operating income rose to $53.4 million from $32.6 million.

Commercial & Industrial revenue more than doubled to $241.4 million, reflecting expanded data center capabilities and larger project execution. Operating income climbed to $54.2 million from $12.9 million.

The Residential segment was the only weak spot. Revenue fell 6% to $324.1 million as softer housing demand weighed on pricing and margins. Operating income declined to $16.3 million from $33.4 million a year earlier.

IES shares were up 1.40% at $754.99 during premarket trading on Monday, approaching the 52-week high of $803.99.