[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]

Records Annual 15.7% Revenue and 36% Gross Profit Increase  HUNTINGTON, W.Va., Dec. 16, 2024 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its results for its fourth quarter and fiscal year ended September 30, 2024.Fourth Quarter Summary (1) Revenue of $104.7 million versus $104.9 million Gross profit of $17.6 million versus $16.0 million Net income of $6.7 million, or $0.40 per diluted share, compared to $5.7 million, or $0.34 pe ...

Core Points - Energy Services of America Corporation has completed the acquisition of Tribute Contracting & Consultants, LLC for a total consideration of $22 million in cash and $2 million in common stock [2] - The acquisition aligns with Energy Services' strategy to enhance its presence in the water distribution and wastewater sectors [2] - Tribute specializes in underground utility contracting, employing approximately 90 construction workers primarily in Ohio, Kentucky, and West Virginia [1][2] Company Overview - Energy Services of America Corporation is headquartered in Huntington, WV, and operates mainly in the mid-Atlantic and Central regions of the United States [3] - The company provides services across various industries, including natural gas, petroleum, water distribution, automotive, chemical, and power [3] - Energy Services employs over 1,200 individuals and emphasizes core values of safety, quality, and production [3]