Energy Services of America (US:ESOA) Prnewswireยท2025-05-12 20:30Core 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].