Welcome to our dedicated page for Energy Services news (Ticker: ESOA), a resource for investors and traders seeking the latest updates and insights on Energy Services stock.
Energy Services of America Corp (NASDAQ: ESOA) operates as a specialty contractor focused on natural gas pipeline construction and utility infrastructure services. The company builds, repairs, and maintains interstate and intrastate pipelines, storage facilities, and related infrastructure for utility companies and energy operators across the United States.
News coverage of Energy Services of America typically centers on quarterly and annual financial results, which reflect the cyclical nature of construction contracting and project timing. Earnings announcements reveal backlog levels, contract wins, and margin performance that indicate business momentum. The company's inclusion in the Russell 2000 and Russell 3000 indices has expanded institutional investor interest in ESOA shares.
Contract announcements and project awards represent significant news events for pipeline contractors, as major infrastructure projects can span multiple years and generate substantial revenue. Energy Services of America's subsidiary operations, including acquisitions that expand service capabilities, also generate newsworthy developments that affect the company's competitive position.
Industry conditions affecting natural gas infrastructure investment, regulatory developments impacting pipeline construction, and utility capital spending plans all provide context for understanding Energy Services of America's business environment. Bookmark this page to follow developments affecting this specialty contractor in the energy infrastructure sector.
Energy Services of America (NASDAQ: ESOA) reported its fiscal first quarter 2025 results with revenue of $100.6 million, a 12% increase from the previous year. However, net income decreased to $854,000 ($0.05 per diluted share) compared to $2.0 million ($0.12 per diluted share) in Q1 2024.
The company's gross profit declined to $10.3 million with a margin of 10.2%, down from $10.8 million and 12.0% in the prior year. Backlog increased to $260.2 million as of December 31, 2024, up from $243.2 million in September 2024. The company completed the acquisition of Tribute Contracting & Consultants on December 2nd.
Management attributed lower profitability to weather conditions and project timing in the Gas & Water Distribution segment but expects margins to normalize in coming quarters. The company continues to see strong demand for infrastructure projects across its markets.
Energy Services of America (NASDAQ: ESOA) reported strong financial results for Q4 and fiscal year 2024. The company achieved annual revenue of $351.9 million, a 15.7% increase from the previous year, and gross profit grew 36% to $50.0 million. Net income reached $25.1 million ($1.51 per diluted share), including $11.4 million from a legal judgment.
Q4 revenue was $104.7 million with net income of $6.7 million ($0.40 per diluted share). The company's backlog stands at $243.2 million, up from $229.8 million year-over-year. Management expressed optimism about fiscal 2025, citing benefits from the Infrastructure and Jobs Act and recent acquisition of Tribute Contracting.
Energy Services of America (Nasdaq: ESOA) has completed the acquisition of Tribute Contracting & Consultants, an underground utility contractor specializing in water and wastewater system installations across Ohio, Kentucky, and West Virginia. The transaction, valued at $24 million, consists of $22 million in cash (subject to debt and working capital adjustments) and $2 million in ESOA common stock. Tribute brings approximately 90 construction workers to Energy Services, strengthening the company's presence in water distribution and wastewater sectors.
Energy Services of America (Nasdaq: ESOA) has announced the initiation of a quarterly cash dividend of $0.03 per common share. The dividend will be payable on January 2, 2025, to shareholders of record as of December 13, 2024. This move represents an increase in the company's annual dividend from $0.06 to $0.12 per share, demonstrating the company's commitment to shareholder returns.
Energy Services of America (ESOA) announced that its President, Doug Reynolds, and CFO, Charles Crimmel, will present at the Southwest IDEAS Investor Conference on November 21, 2024, at The Statler in Dallas, TX. The presentation is scheduled for 11:30am CT and will be accessible via webcast through the conference website. Interested parties can contact Lacey Wesley for more information about the IDEAS conferences.
Energy Services of America (Nasdaq: ESOA) has announced that its President, Doug Reynolds, will deliver a presentation at the 16th Annual Southwest IDEAS Investor Conference. The event will take place on November 21, 2024, at The Statler in Dallas, TX, with the company's presentation scheduled for 11:30am CT.
The presentation will be accessible via webcast through the conference host's website at threepartadvisors.com/southwest. Interested parties can contact Lacey Wesley for more information about the IDEAS conferences.
Energy Services of America (NASDAQ: ESOA) has announced the acquisition of Tribute Contracting & Consultants, an underground utility contractor specializing in water and wastewater system installations across Ohio, Kentucky, and West Virginia. The transaction, valued at $22 million in cash (less assumed debt and working capital adjustments) plus $2 million in ESOA common stock, is expected to close in early December. Tribute's founders, Tom Enyart and Todd Harrah, will continue their roles under the new subsidiary, Tribute Acquisition Company.
Energy Services of America (ESOA) has announced its participation in the 15th Annual Midwest IDEAS Investor Conference on August 29th, 2024, at The Gwen in Chicago, IL. The company's management is scheduled to deliver a presentation at 12:30pm ET, which will be accessible via webcast through the conference host's website.
In addition to the presentation, Energy Services will be hosting one-on-one meetings throughout the day. Investors interested in attending or learning more about the IDEAS conferences are encouraged to contact Steven Hooser for further information. This event provides an opportunity for ESOA to showcase its business to potential investors and engage with the financial community.
Energy Services of America (NASDAQ: ESOA) reported its fiscal third quarter 2024 results, highlighting significant improvements:
- Revenue of $85.9 million, slightly up from $85.5 million year-over-year
- Gross profit increased 41% to $15.3 million
- Net income rose to $17.5 million ($1.06 per diluted share), including $11.4 million from a legal judgment
- Adjusted EBITDA of $10.8 million, up from $7.5 million
- Backlog grew 13% sequentially to $250.9 million
The company saw a 510 basis point improvement in gross margin to 17.8%. ESOA's President, Doug Reynolds, expressed optimism about future prospects, citing favorable industry tailwinds and a strong balance sheet for potential acquisitions.
Energy Services of America (Nasdaq: ESOA) announced the acquisition of Heritage Painting by its subsidiary, Nitro Construction Services. The acquisition expands Energy Services' reach in West Virginia and neighboring regions, enhancing their service offerings to the industrial, commercial, fabrication, and oil and gas sectors. Heritage Painting specializes in fabricated pipe, large natural gas valves, commercial painting, and floor coatings. CEO Douglas Reynolds highlighted Heritage's strong customer service and safety record as key alignments with Energy Services' values.
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