Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023. Energy Services of America Corporation (Exact Name of Registrant as Specified in Its Charter) | Delaware | 20-4606266 | | --- | --- | | (State or Other Jurisdiction of Incorporation or | (I.R.S. Employer Identification Number) | | Organization) | | | 75 West 3 rd ...

Revenue and Income - Total revenue for the three months ended December 31, 2022, was $60,042,585, an increase of $17,383,460 or 40.7% compared to $42,659,125 for the same period in 2021[104] - Gas & Petroleum Transmission revenues increased by $5,601,633 or 49.8% to $16,840,150 for the three months ended December 31, 2022, compared to $11,238,517 for the same period in 2021[105] - Electrical, Mechanical, and General construction services revenues rose by $11,256,016 or 57.8% to $30,714,590 for the three months ended December 31, 2022, compared to $19,458,574 for the same period in 2021[105] - Net income for the three months ended December 31, 2022, was $163,518, a decrease of $1,007,462 or 85.0% compared to $1,170,980 for the same period in 2021[104] - Earnings per share-basic for the three months ended December 31, 2022, was $0.01, down from $0.07 for the same period in 2021[104] Costs and Expenses - Total cost of revenues increased by $16,705,571 or 44.7% to $54,056,323 for the three months ended December 31, 2022, compared to $37,350,752 for the same period in 2021[110] - Electrical, Mechanical, & General construction services cost of revenues increased by $10.9 million to $29.0 million for the three months ended December 31, 2022, compared to $18.1 million for the same period in 2021[113] - Selling and administrative expenses increased by $1.7 million to $5.3 million for the three months ended December 31, 2022, compared to $3.6 million for the same period in 2021[119] - The Company recorded rental expenses of $2.7 million for the three months ended December 31, 2022, compared to $1.9 million for the same period in 2021[162] Profitability - The Company experienced a gross profit of $5,986,262 for the three months ended December 31, 2022, compared to $5,308,373 for the same period in 2021, reflecting an increase of $677,889 or 12.8%[104] - Total gross profit increased by $678,000 to $6.0 million for the three months ended December 31, 2022, compared to $5.3 million for the same period in 2021, with a gross profit percentage of 10.0%[115] - Gas & Petroleum Transmission gross profit rose by $1.3 million to $2.8 million for the three months ended December 31, 2022, compared to $1.5 million for the same period in 2021, reflecting an 87.1% increase[117] Assets and Liabilities - Total assets decreased by $4.7 million to $107.9 million at December 31, 2022, compared to $112.6 million at the prior fiscal year end[126] - Accounts receivable decreased by $3.2 million to $35.3 million at December 31, 2022, compared to $38.5 million at the prior fiscal year end[127] - The Company had total liabilities of $69.4 million at December 31, 2022, a decrease of $4.9 million from the prior fiscal year end balance of $74.3 million[135] - Long-term debt increased by $1.5 million to $19.0 million at December 31, 2022, primarily due to $3.2 million in new debt agreements[140] Cash Flow and Financing - Cash and cash equivalents totaled $7.5 million at December 31, 2022, an increase of $103,000 from the prior fiscal year end balance of $7.4 million[134] - The Company entered into a 10-year loan agreement of $1.1 million with United Bank, with a variable interest rate of 8.75% as of December 31, 2022, and has made principal payments of $746,000[149] - The Company has a $3.0 million Non-Revolving Note agreement with United Bank, with monthly payments of $68,150 starting in February 2022, and has made principal payments of $609,000 as of December 31, 2022[151] - A $3.5 million Non-Revolving Note agreement was established to repay a line of credit for the West Virginia Pipeline acquisition, with monthly payments of $64,853 and principal payments of $1.1 million made as of December 31, 2022[152] - The Company financed the purchase of Tri-State Paving with a $7.5 million Non-Revolving Note agreement, with monthly payments of $129,910 and principal payments of $834,000 made as of December 31, 2022[153] - A $3.1 million promissory note agreement was entered into for equipment purchased in the Ryan Construction acquisition, with monthly payments of $59,932 and principal payments of $89,000 made as of December 31, 2022[154] Tax and Deferred Income - The effective tax rate for the Company was (94.9%) for the three months ended December 31, 2022, compared to 29.7% for the same period in 2021[202] - The Company had a net deferred income tax liability of $4.0 million as of December 31, 2022, down from $4.5 million at September 30, 2022[203] Backlog and Opportunities - The Company's backlog as of December 31, 2022, was $206.9 million, a significant increase from $101.6 million at December 31, 2021, and $142.3 million at September 30, 2022[210] - The Company is experiencing a significant increase in bid opportunities for natural gas transmission and distribution projects, as well as electrical, mechanical, and general construction projects[210] Other Financial Information - The Company approved a special cash dividend of $0.05 per common share, payable on February 15, 2023, to shareholders of record as of January 31, 2023[207] - The Company's line of credit was increased from $15.0 million to $30.0 million, with a maturity date of June 28, 2023, and a variable interest rate based on the "Wall Street Journal" Prime Rate with a floor of 4.5%[207] - The Company recorded costs incurred on contracts in progress of $110,656,030 as of December 31, 2022, down from $192,957,145 as of September 30, 2022[187] - Estimated earnings, net of estimated losses, decreased to $16,806,651 as of December 31, 2022, from $28,150,060 as of September 30, 2022[187] - The Company's depreciation expense for the three months ended December 31, 2022, was $1.8 million, compared to $1.3 million for the same period in 2021[198] - The Company's intangible amortization expense for the three months ended December 31, 2022, was $133,000, up from $119,000 in the same period of 2021[199] - The allowance for doubtful accounts decreased to $55,538 at December 31, 2022, from $70,310 at the beginning of the year[190] - The Company did not experience significant effects from inflation on its results for the three months ended December 31, 2022[179] - At December 31, 2022, the Company had $79.0 million in performance bonds outstanding, which are essential for securing future contracts[166] - The Company was awarded $13.1 million in a lawsuit judgment related to a pipeline construction project, although this amount has not been recognized in the financial statements as of December 31, 2022[169] - The Company entered into a 36-month operating lease for facilities in Hurricane, West Virginia, with monthly payments of $7,000, resulting in a total net present value of $236,000 at inception[175] - SQP made an equity investment of $156,000 in 1030 Quarrier Development, LLC, which is expected to generate rental income upon completion of a commercial project[176] - The Company does not expect a significant impact from the new accounting standards ASU 2021-08 and ASU 2021-10 on its results of operations, financial position, and cash flows[204][205]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |--------------------------------------------------------------------------------------|-----------------------------------------|------------------------------------ ...

Table of Contents Title of Each Class Trading Symbols Name of Each Exchange On Which Registered Common Stock, Par Value $0.0001 ESOA The Nasdaq Stock Market LLC Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. Energy Services of America Corporation (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |------------------------------------------------------------------------------|--------------------------|------------------------------------------- ...

Table of Contents None None None UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2021. | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|-------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-32998 Energy Services of America Corporation (Exact Name of Registrant as Specifie ...

Table of Contents None None None UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021. Energy Services of America Corporation (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |-----------------------------------------------------------------------------|--------------------------------------------|------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Name of Each Exchange Title of Each Class Trading Symbols On Which Registered None None None (Mark One) x Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2021. 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) (I.R.S. Empl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2020. 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) (I.R.S. Employer Identification Number) 75 West 3rd Ave., Huntington, West Virginia 25701 (Address of ...