Or, so the guy told me. The fine arrangement of parts you see is how he ran circuits from his panel on the other side of the wall.
First off, his hole in the panel failed to line up with his hole in the wall ... with just the tiniest slice - think "waning moon." The bit of EMT you see exiting the LB, naturally, is just sitting on the wood.
Continuing his craftsmanship, he did not use a flex 90 connector, either. He simply bent the flex, and wrapped the end with electrical taps. So much for grounding! Please note the tie wire securing the flex to the gas line.
This arrangement supplied power to the washer, the dryer, and the garage lights.