Energy Services of America Reports First Quarter Fiscal 2026 Results

Core Insights - Energy Services of America Corporation reported a 13.4% year-over-year revenue increase, totaling $114.1 million for the first quarter of fiscal 2026, compared to $100.6 million in the same period last year [4][8] - The company experienced a sequential backlog increase of $41.7 million, reaching $301.4 million as of December 31, 2025, up from $259.7 million on September 30, 2025 [7][8] Financial Performance - Gross profit for the quarter was $14.0 million, an increase from $10.3 million in the prior-year quarter, with a gross margin improvement to 12.3% from 10.2% [5][8] - Selling and administrative expenses rose to $9.1 million, primarily due to the full quarter impact of the Tribute acquisition [6] - Net income increased to $2.7 million, or $0.16 per diluted share, compared to $854,000, or $0.05 per diluted share in the first quarter of fiscal 2025 [6][8] - Adjusted EBITDA for the quarter was $8.3 million, up from $4.3 million in the prior-year quarter [8] Segment Performance - The Gas & Water Distribution segment saw a revenue increase of 30% year-over-year, driven by ongoing replacement and upgrade cycles by municipalities and private utility companies [3] - The Electrical, Mechanical, and General projects segment experienced a slight revenue decline year-over-year, but backlog increased by $7 million sequentially due to strong demand for large construction projects [3]