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Energy and Environmental Services, Inc. (OTC: EESE) reported significant financial growth for the year ended December 31, 2022. Sales revenues surged 46% to $20,081,900, driven by a gross profit increase of 60.7%, reaching $11,483,900. EBITDA rose 78% to $2,885,300, and net income flipped to $1,723,100 from a loss of $954,900 in 2021. The company's working capital also improved to $5,571,100. Analysts expect a positive outlook for 2023 due to ongoing oil production constraints and growing demand from a recovering Chinese economy. EES remains optimistic about sustaining its operational improvements.
Energy and Environmental Services, Inc. (OTC: EESE) reported robust financial results for Q3 2022, featuring a 28.7% increase in sales revenues to $5,236,700, and a 46.9% rise in gross profit, reaching $2,749,300. The company posted a net income of $102,100, a recovery from a net loss of $(205,700) in Q3 2021. For the nine-month period, revenues surged 47.8% to $14,760,000, with a net income of $1,410,900 compared to a loss of $(268,500) last year. Working capital improved to $6,047,300.