Revenue and Profit - Revenue for the third quarter was $85.9 million, compared to $85.5 million in the prior-year quarter[2][3] - Gross profit increased by 41% to $15.3 million, with gross margin improving to 17.8% from 12.7%[2][3] - Nine-month revenue totaled $247.2 million, up from $199.2 million in the prior-year period[5] Net Income and Adjusted EBITDA - Net income was $17.5 million, or $1.06 per diluted share, including $11.4 million from a legal judgment[2][4] - Adjusted EBITDA rose to $10.8 million from $7.5 million in the prior-year quarter[2][6] - Nine-month net income was $18.4 million, compared to $1.7 million in the prior-year period[5] - Adjusted EBITDA for the nine-month period was $17.7 million, up from $10.0 million in the prior-year period[6] Backlog and Projects - Backlog increased by 13% sequentially to $250.9 million, with 30% from water projects and 20% from new construction in EV battery and steel manufacturing[2][4] Debt and Expenses - The company reduced its debt by nearly $14 million during the quarter[2] - Selling and administrative expenses increased to $6.8 million from $5.3 million due to additional personnel hires[3]
Energy Services of America (ESOA) - 2024 Q3 - Quarterly Results