Company Announcement - Energy Services of America (Nasdaq: ESOA) will have its President Doug Reynolds and CFO Charles Crimmel present at the East Coast IDEAS Investor Conference on June 11, 2025 [1] - The presentation is scheduled to begin at 8:35am ET and will be available via webcast [1] Company Overview - Energy Services of America Corporation is headquartered in Huntington, WV, and operates primarily in the mid-Atlantic and Central regions of the United States [3] - The company provides services to various industries including natural gas, petroleum, water distribution, automotive, chemical, and power [3] - Energy Services employs over 1,000 employees regularly and emphasizes core values of safety, quality, and production [3]

Part I [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)%3A) The company reported a **$5.9 million** net loss for the six months ended March 31, 2025, a significant downturn from prior-year net income, driven by decreased gross profit despite a 9.9% revenue increase, with total assets growing to **$170.2 million** due to an acquisition [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$170.2 million** as of March 31, 2025, primarily due to the Tribute acquisition, while total liabilities rose to **$116.4 million** and shareholders' equity decreased to **$53.8 million** Consolidated Balance Sheet Highlights (Unaudited) | Balance Sheet Item | March 31, 2025 | September 30, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$170,225,716** | **$158,247,000** | | Total Current Assets | $104,204,211 | $110,426,929 | | Total Fixed Assets, net | $52,321,577 | $38,135,714 | | Goodwill | $7,428,761 | $4,087,554 | | **Total Liabilities** | **$116,446,167** | **$99,552,856** | | Total Current Liabilities | $79,800,395 | $74,248,552 | | Long-term debt, less current maturities | $30,614,888 | $17,187,992 | | **Total Shareholders' Equity** | **$53,779,549** | **$58,694,144** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Revenues increased 9.9% to **$177.3 million** for the six months ended March 31, 2025, but a faster rise in cost of revenues led to a 39.4% decrease in gross profit to **$10.3 million** and a net loss of **$5.7 million** Income Statement Summary (Unaudited) | Metric | Six Months Ended Mar 31, 2025 | Six Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Revenue | $177,325,265 | $161,290,842 | | Gross Profit | $10,341,442 | $17,078,515 | | (Loss) Income from Operations | $(6,446,266) | $2,557,844 | | Net (Loss) Income | $(5,944,685) | $933,367 | | Diluted (Loss) Earnings Per Share | $(0.36) | $0.06 | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to **$10.0 million** for the six months ended March 31, 2025, while investing activities used **$25.3 million** primarily for the Tribute acquisition, resulting in a **$3.0 million** decrease in cash and cash equivalents Cash Flow Summary (Unaudited, Six Months Ended March 31) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,989,308 | $183,114 | | Net cash used in investing activities | $(25,274,011) | $(2,642,168) | | Net cash provided by (used in) financing activities | $12,284,900 | $(1,881,052) | | **Decrease in cash and cash equivalents** | **$(2,999,803)** | **$(4,340,106)** | [Consolidated Statements of Changes in Shareholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity decreased by **$4.9 million** to **$53.8 million** as of March 31, 2025, primarily due to the net loss and dividend payments, partially offset by stock issued for the Tribute acquisition - Shareholders' equity decreased by **$4.9 million** over the six-month period to **$53,779,549**[15](index=15&type=chunk) - The decrease was driven by a net loss for the period and dividends on common stock, partially offset by **$2.0 million** in common stock issued for an acquisition[15](index=15&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes detail the Tribute acquisition, the reinstatement of **$9.8 million** in previously forgiven PPP loans as a liability, revenue recognition policies, a **$223.2 million** backlog, increased debt for the acquisition, and compliance with debt covenants - The company completed the acquisition of Tribute Contracting & Consultants, LLC on December 2, 2024, for **$22.0 million** in cash and **$2.0 million** in stock[74](index=74&type=chunk) - The company has recorded a short-term borrowing of **$9.8 million** plus accrued interest for previously forgiven PPP loans that are now under review by the SBA[32](index=32&type=chunk)[68](index=68&type=chunk) - At March 31, 2025, the company had **$223.2 million** in remaining unsatisfied performance obligations expected to be recognized as revenue over the next twelve months[45](index=45&type=chunk) - Goodwill increased by **$3.3 million** to **$7.4 million** due to the Tribute acquisition[80](index=80&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes 9.9% revenue growth to increased Gas & Water Distribution services, offset by declines in Gas & Petroleum Transmission, while gross profit fell by **$6.7 million** due to productivity issues and reduced margins, with the Tribute acquisition impacting financial condition and increasing backlog to **$280.7 million** [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Revenues increased 9.9% to **$177.3 million** for the six months ended March 31, 2025, but a faster rise in cost of revenues led to a 39.4% decrease in gross profit to **$10.3 million** and a net loss of **$5.7 million** Revenue by Segment (Six Months Ended March 31) | Segment | 2025 Revenue | 2024 Revenue | % Change | | :--- | :--- | :--- | :--- | | Gas & Water Distribution | $58,401,124 | $31,356,586 | 86.2% | | Gas & Petroleum Transmission | $21,851,275 | $38,326,321 | -43.0% | | Electrical, Mechanical, & General | $97,072,866 | $91,607,935 | 6.0% | | **Total** | **$177,325,265** | **$161,290,842** | **9.9%** | Gross Profit (Loss) by Segment (Six Months Ended March 31) | Segment | 2025 Gross Profit | 2024 Gross Profit | % Change | | :--- | :--- | :--- | :--- | | Gas & Water Distribution | $4,252,404 | $6,387,439 | -33.4% | | Gas & Petroleum Transmission | $(271,277) | $3,627,153 | -107.5% | | Electrical, Mechanical, & General | $8,593,292 | $8,177,317 | 5.1% | | **Total (after unallocated expenses)** | **$10,341,442** | **$17,078,515** | **-39.4%** | - Gross profit decreases in Gas & Water Distribution and Gas & Petroleum Transmission were primarily attributed to lower productivity from inclement weather and project timing issues[126](index=126&type=chunk)[127](index=127&type=chunk) - Selling and administrative expenses increased by **$2.3 million**, partly due to the Tribute acquisition (**$553,000**) and increased consulting/audit fees from becoming an accelerated filer[132](index=132&type=chunk) [Comparison of Financial Condition](index=39&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew by **$12.0 million** to **$170.2 million** due to the Tribute acquisition, while total liabilities increased by **$16.9 million** to **$116.4 million** and shareholders' equity decreased by **$4.9 million** - Net property, plant and equipment increased by **$14.2 million** to **$52.3 million**, largely due to **$14.9 million** in assets from the Tribute acquisition[140](index=140&type=chunk) - Total debt (current and long-term) increased by **$16.8 million** to **$40.4 million**, primarily due to **$16.0 million** in financing for the Tribute acquisition and the assumption of **$3.8 million** of its debt[151](index=151&type=chunk) - Shareholders' equity decreased by **$4.9 million** to **$53.8 million**, reflecting a net loss of **$5.9 million** and dividends, partially offset by **$2.0 million** in stock issued for the acquisition[158](index=158&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a **$30.0 million** line of credit with **$12.5 million** available, was in compliance with all debt covenants, and faces a significant contingency regarding the potential repayment of **$9.8 million** in PPP loans under SBA review - The company has a **$30.0 million** line of credit, with **$5.75 million** drawn and **$12.5 million** available as of March 31, 2025[160](index=160&type=chunk) - The company was in compliance with all debt covenants at March 31, 2025, after the lender agreed to exclude the impact of the PPP loan restatement from calculations[161](index=161&type=chunk) - A major uncertainty is the potential repayment of **$9.8 million** in PPP loans, which were previously forgiven but are now under SBA review[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk) [Outlook](index=59&type=section&id=Outlook) The company's outlook is supported by a strong backlog, which increased to **$280.7 million** at March 31, 2025, with significant bid opportunities in water, wastewater, electrical, and mechanical projects, and expected increases in natural gas project opportunities - The unaudited backlog increased to **$280.7 million** at March 31, 2025, compared to **$243.2 million** at September 30, 2024[235](index=235&type=chunk) - The company is seeing significant bid opportunities in water, wastewater, electrical, and mechanical projects, with natural gas project opportunities delayed but expected to increase[234](index=234&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=59&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Disclosure is not required for this section as the company is classified as a smaller reporting company - Disclosure is not required for a smaller reporting company[236](index=236&type=chunk) [Controls and Procedures](index=61&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls, and the newly acquired Tribute subsidiary is within its one-year SOX compliance grace period - The CEO and CFO concluded that disclosure controls and procedures were effective as of the end of the reporting period[238](index=238&type=chunk) - There were no material changes to internal controls over financial reporting during the second quarter of fiscal year 2025[239](index=239&type=chunk) - The recently acquired Tribute subsidiary has a one-year grace period before needing to fully comply with Sarbanes-Oxley (SOX) regulations[240](index=240&type=chunk) Part II [Legal Proceedings](index=62&type=section&id=Item%201.%20Legal%20Proceedings) The company is negotiating a disputed pension plan withdrawal liability claim, believing it is exempt and expecting no future liabilities, while other legal proceedings are considered ordinary course of business - The company is negotiating a withdrawal liability claim from a pension plan for which it received a demand for quarterly payments of **$41,000** starting in December 2021[243](index=243&type=chunk) - The company disputes the claim and believes no withdrawal liability exists, with payments suspended during negotiations and no future liabilities expected[243](index=243&type=chunk) [Risk Factors](index=62&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the filing of the Annual Report on Form 10-K on December 19, 2024 - No material changes to risk factors have occurred since the filing of the Annual Report on Form 10-K on December 19, 2024[245](index=245&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=62&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities and no common stock repurchases during the three months ended March 31, 2025 - There were no unregistered sales of equity securities during the reporting period[247](index=247&type=chunk) - The company did not repurchase any shares of its common stock during the three months ended March 31, 2025[247](index=247&type=chunk) [Other Information](index=62&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading plans during the second fiscal quarter of 2025 - No directors or officers adopted or terminated Rule 10b5-1 trading plans during the second fiscal quarter of 2025[246](index=246&type=chunk) [Exhibits](index=63&type=section&id=Item%206.%20Exhibits) Exhibits filed with the Form 10-Q include CEO and CFO certifications and XBRL data files - Exhibits filed include certifications from the CEO and CFO and XBRL Interactive Data Files[248](index=248&type=chunk)

[Fiscal Second Quarter 2025 Results](index=1&type=section&id=Energy%20Services%20of%20America%20Reports%20Fiscal%20Second%20Quarter%202025%20Results) [Second Quarter Summary](index=1&type=section&id=Second%20Quarter%20Summary) Q2 FY2025 saw an 8% revenue increase to **$76.7 million**, but severe weather caused a **$6.8 million net loss** and minimal gross profit, despite a growing backlog of **$280.7 million** Q2 FY2025 Key Metrics | Metric | Q2 FY2025 | Q2 FY2024 | | :--- | :--- | :--- | | Revenue | $76.7 million | $71.1 million | | Gross Profit | $78,000 | $6.2 million | | Net Loss | ($6.8 million) | ($1.1 million) | | Net Loss Per Share | ($0.41) | ($0.07) | | Backlog | $280.7 million | $222.8 million | - Management attributes the poor quarterly results to unusually unfavorable weather conditions impacting the C.J. Hughes business and reducing fixed cost coverage[5](index=5&type=chunk) - The company is encouraged by a **$37 million** sequential increase in backlog from September 30, 2024, and expects performance to improve in the historically stronger spring and summer months[5](index=5&type=chunk) - Future strategy involves focusing on higher-margin projects, particularly in water distribution, and evaluating complementary acquisition opportunities[5](index=5&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) Q2 FY2025 revenue grew to **$76.7 million** driven by Gas & Water Distribution, but weather-related issues caused gross margin to collapse to **0.1%** and net loss to widen to **$6.8 million** [Q2 & H1 FY2025 Operating Results](index=2&type=section&id=Second%20Quarter%20Fiscal%202025%20Financial%20Results) Q2 FY2025 revenue grew **8%** to **$76.7 million**, but gross profit plummeted and net loss widened to **$6.8 million**, with H1 FY2025 also showing a **$5.9 million net loss** Condensed Statement of Operations (Three Months Ended March 31) | Metric | 2025 ($) | 2024 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 76,679,151 | 71,127,655 | +7.8% | | Gross Profit | 77,860 | 6,239,554 | -98.8% | | Loss from Operations | (8,092,227) | (1,082,397) | +647.6% | | Net Loss | (6,798,418) | (1,108,828) | +513.1% | | Loss Per Share (basic) | (0.41) | (0.07) | +485.7% | Condensed Statement of Operations (Six Months Ended March 31) | Metric | 2025 ($) | 2024 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 177,325,265 | 161,290,842 | +10.0% | | Gross Profit | 10,341,442 | 17,078,515 | -39.4% | | (Loss) Income from Ops | (6,446,266) | 2,557,844 | N/A | | Net (Loss) Income | (5,944,685) | 933,367 | N/A | - The year-over-year revenue increase was primarily driven by increased work within the Gas & Water Distribution business line, which offset a decline in Gas & Petroleum Transmission[7](index=7&type=chunk) - Selling and administrative expenses rose from **$7.3 million** to **$8.2 million** YoY, mainly due to additional personnel and the acquisition of Tribute in December 2024[9](index=9&type=chunk) [Backlog](index=1&type=section&id=Backlog) The company's project backlog showed strong growth, reaching **$280.7 million** as of March 31, 2025, a significant increase from prior fiscal year-end and prior-year levels Backlog Growth | Date | Backlog Amount ($) | | :--- | :--- | | March 31, 2025 | 280.7 million | | September 30, 2024 | 243.2 million | | March 31, 2024 | 222.8 million | [Non-GAAP Measures (Adjusted EBITDA)](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) Adjusted EBITDA, a non-GAAP metric, showed a **$(4.9) million loss** in Q2 FY2025 and a **$(0.6) million loss** for the six months, a significant decline from prior-year positive figures Adjusted EBITDA Reconciliation (unaudited) | Period | Adjusted EBITDA 2025 ($) | Adjusted EBITDA 2024 ($) | | :--- | :--- | :--- | | Three Months Ended Mar 31 | (4,909,765) | 922,930 | | Six Months Ended Mar 31 | (564,976) | 6,739,792 | - The company believes Adjusted EBITDA is a relevant indicator of trends in cash-generating activity and is useful for comparing operating performance with other companies[12](index=12&type=chunk) [Company Overview and Outlook](index=1&type=section&id=About%20Energy%20Services) Energy Services of America, a contractor in natural gas, petroleum, and water distribution, maintains a favorable outlook for H2 FY2025 and FY2026, focusing on higher-margin projects and strategic acquisitions - The company operates primarily in the mid-Atlantic and Central regions of the U.S., providing services to natural gas, petroleum, water distribution, automotive, chemical, and power industries[13](index=13&type=chunk) - Management anticipates very favorable prospects for H2 FY2025 and FY2026, driven by strong water distribution demand and a focus on higher-margin projects, while continuing to evaluate acquisition opportunities[5](index=5&type=chunk) - The report contains forward-looking statements, and investors are cautioned that actual results may differ materially from expectations due to various risks and uncertainties[14](index=14&type=chunk)

Core Viewpoint - Energy Services of America Corporation reported its fiscal second quarter results, highlighting a revenue increase despite challenging weather conditions impacting profitability [3][4][6]. Financial Performance - Total revenues for the second quarter were $76.7 million, an 8% increase from $71.1 million in the same period last year [4][8]. - Gross profit was $78,000, a significant decrease from $6.2 million in the prior-year quarter, with gross margin dropping to 0.1% from 8.8% [5][8]. - Selling and administrative expenses rose to $8.2 million from $7.3 million, attributed to hiring for expected growth and the acquisition of Tribute [6][8]. - The net loss for the quarter was $6.8 million, or ($0.41) per share, compared to a net loss of $1.1 million, or ($0.07) per share, in the second quarter of fiscal 2024 [6][9]. Backlog and Future Outlook - The backlog as of March 31, 2025, was $280.7 million, up from $243.2 million as of September 30, 2024, and $222.8 million as of March 31, 2024 [7][8]. - The company anticipates improved revenue and profitability in the upcoming spring and summer months, driven by strong demand for water distribution services [3][4]. - The company remains focused on selecting projects with favorable margins and evaluating acquisition opportunities to enhance its portfolio [3].

Core Viewpoint - Energy Services of America Corporation (NASDAQ: ESOA) recently reported its Q1 '25 earnings, prompting an analysis of its performance over the past year, highlighting both positive and negative aspects of the company's operations [1]. Financial Performance - The company’s Q1 '25 earnings report serves as a basis for evaluating its financial health and operational efficiency over the last year [1]. Investment Strategy - The investment approach discussed emphasizes a long-term horizon, typically between 5 to 10 years, focusing on a diversified portfolio that includes growth, value, and dividend-paying stocks, with a particular inclination towards value investments [1].

Company Overview - Energy Services of America Corporation (NASDAQ: ESOA) is headquartered in Huntington, WV, and operates primarily in the mid-Atlantic and Central regions of the United States [2] - The company provides services to various industries, including natural gas, petroleum, water distribution, automotive, chemical, and power [2] - Energy Services employs over 1,300 employees regularly, emphasizing core values of safety, quality, and production [2] Upcoming Events - Management will host one-on-one investor meetings as part of the 37th Annual ROTH Conference on March 17, 2025 [1] - Interested investors can contact their ROTH representative or submit a request to schedule a meeting [1]

[First Quarter Highlights](index=1&type=section&id=First%20Quarter%20Summary) Q1 2025 saw Energy Services of America's revenue rise 12% to $100.6 million, but net income dropped to $854,000 due to weather and project timing, despite a growing $260.2 million backlog Key Financial Highlights | Metric | Q1 FY2025 ($) | Q1 FY2024 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $100.6 million | $90.2 million | +12% | | Gross Profit | $10.3 million | $10.8 million | -4.6% | | Net Income | $854,000 | $2.0 million | -58.2% | | Diluted EPS | $0.05 | $0.12 | -58.3% | | Adjusted EBITDA | $4.3 million | $5.8 million | -25.9% | | Backlog | $260.2 million | $185.9 million | +40.0% | - Management attributes the quarterly performance to continued growth in **distribution and Electrical/Mechanical segments**, offset by **weather and project timing impacts** on profitability, with demand remaining **strong** and an **increasing backlog** from both organic and inorganic growth[4](index=4&type=chunk) - The company acquired Tribute Contracting & Consultants on December 2, which partially contributed to the quarter's results[5](index=5&type=chunk) [Detailed Financial Performance](index=2&type=section&id=First%20Quarter%20Fiscal%202025%20Financial%20Results) Q1 2025 revenue increased to $100.6 million, primarily from Gas & Water Distribution and Electrical/Mechanical lines, though gross margin contracted to 10.2% and net income dropped to $854,000 due to segment profitability and higher expenses - The **12% year-over-year revenue increase** to **$100.6 million** was primarily driven by increased activity within the **Gas & Water Distribution** and **Electrical, Mechanical and General business lines**[6](index=6&type=chunk) - **Gross profit decreased** to **$10.3 million**, with **gross margin falling to 10.2% from 12.0%** in the prior-year quarter, attributed to **lower profit within the Gas & Petroleum Transmission segment**[7](index=7&type=chunk) - **Selling and administrative expenses increased by 19.4% to $8.6 million**, mainly due to **hiring additional personnel** to support and manage anticipated growth[7](index=7&type=chunk) - **Backlog demonstrated strong growth**, reaching **$260.2 million** as of December 31, 2024, an increase from **$243.2 million** at the end of the previous quarter and **$185.9 million** at the end of the prior-year quarter[8](index=8&type=chunk) [Financial Statements](index=2&type=section&id=Financial%20Statements) This section provides the unaudited consolidated financial statements, including the statement of operations, for the fiscal first quarter of 2025 and 2024 [Consolidated Statements of Operations (Unaudited)](index=2&type=section&id=Consolidated%20Statements%20of%20Operations%20(Unaudited)) This unaudited comparative income statement details the components leading to a net income of $853,733 for Q1 2025, a significant decrease from $2,042,195 in the prior year, with diluted EPS falling from $0.12 to $0.05 Consolidated Statements of Operations | | Three Months Ended Dec 31, 2024 ($) | Three Months Ended Dec 31, 2023 ($) | | :--- | :--- | :--- | | **Revenue** | **100,646,114** | **90,163,187** | | Cost of revenues | 90,382,532 | 79,324,226 | | **Gross profit** | **10,263,582** | **10,838,961** | | Selling and administrative expenses | 8,618,188 | 7,198,720 | | **Income from operations** | **1,645,394** | **3,640,241** | | Other income (expense) | (336,198) | (540,011) | | **Income before income taxes** | **1,309,196** | **3,100,230** | | Income tax expense | 455,463 | 1,058,035 | | **Net income** | **853,733** | **2,042,195** | | **Earnings per share-diluted** | **0.05** | **0.12** | [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) This section presents non-GAAP financial measures, including a reconciliation of net income to Adjusted EBITDA, to provide additional insights into the company's operating performance [Reconciliation of Net Income to Adjusted EBITDA](index=3&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA) This reconciliation details the calculation of Adjusted EBITDA, a non-GAAP measure, which decreased to $4.3 million in Q1 2025 from $5.8 million in the prior year, providing insight into the company's cash-generating activity Reconciliation of Net Income to Adjusted EBITDA | Reconciliation Item | Three Months Ended Dec 31, 2024 ($) | Three Months Ended Dec 31, 2023 ($) | | :--- | :--- | :--- | | **Net income** | **853,733** | **2,042,195** | | Add: Income tax expense | 455,463 | 1,058,035 | | Add: Interest expense, net | 483,718 | 601,684 | | Add (less): Non-operating expense (income) | 48,262 | (75,001) | | (Less) add: (gain) loss on sale of equipment | (195,782) | 13,328 | | Add: Depreciation and amortization | 2,698,828 | 2,176,621 | | **Adjusted EBITDA** | **4,344,222** | **5,816,862** | - The company includes **Adjusted EBITDA** to enhance the understanding of its operating performance, believing it is a **relevant indicator of trends related to cash-generating activity** and useful for comparison with other companies[11](index=11&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2024. Commission File Number: 001-32998 Energy Services of America Corporation (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4606266 (State or Other Jurisdiction of Incorporation or Organization) (Mark One) (I.R.S. Employer Identification Number) 75 West 3 ...

HUNTINGTON, W.Va., Feb. 10, 2025 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its results for its fiscal first quarter ended December 31, 2024.First Quarter Summary (1) Revenue of $100.6 million, a 12% increase Gross profit of $10.3 million, compared to $10.8 million Net income of $854,000 or $0.05 per diluted share, compared to $2.0 million, or $0.12 per diluted share Adjusted EBITDA of $4.3 million compared to $5.8 million Back ...

Revenue Performance - Revenue for Q4 2024 was $104.7 million, slightly down from $104.9 million in Q4 2023[3] - Full-year revenue for fiscal 2024 was $351.9 million, a 15.7% increase from $304.1 million in fiscal 2023[5] Gross Profit and Margin - Gross profit for Q4 2024 increased to $17.6 million, up from $16.0 million in Q4 2023, with a gross margin of 16.8% compared to 15.3%[10] - Full-year gross profit for fiscal 2024 was $50.0 million, a 36% increase from $36.8 million in fiscal 2023[5] Net Income and Earnings Per Share - Net income for Q4 2024 was $6.7 million, or $0.40 per diluted share, compared to $5.7 million, or $0.34 per diluted share in Q4 2023[11] - Full-year net income for fiscal 2024 was $25.1 million, or $1.51 per diluted share, compared to $7.4 million, or $0.44 per diluted share in fiscal 2023, including $11.4 million from a legal judgment[5] Adjusted EBITDA - Adjusted EBITDA for fiscal 2024 was $28.8 million, up from $20.8 million in fiscal 2023[6] Backlog - Backlog as of September 30, 2024, was $243.2 million, compared to $229.8 million as of September 30, 2023[6] Dividend and Future Outlook - The company announced plans to double its annualized dividend payment, reflecting optimism for fiscal 2025[8] Acquisitions and Strategic Benefits - The recent acquisition of Tribute Contracting is expected to benefit the company, particularly in the water and wastewater sectors[8]