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 (ESOA) delivers critical infrastructure solutions for natural gas pipelines, electrical installations, and energy sector maintenance. This news hub provides investors and industry professionals with authoritative updates on company developments.
Access timely press releases covering project milestones, strategic acquisitions, and operational updates across ESOA's core services. Our curated collection includes earnings reports, regulatory filings, and technical advancements in pipeline construction and mechanical services.
Discover how ESOA addresses energy infrastructure challenges through updates on utility partnerships, safety initiatives, and geographic expansion. The resource serves as a comprehensive reference for tracking contract awards, maintenance programs, and industry compliance developments.
Bookmark this page for direct access to verified information about ESOA's role in power generation, water distribution, and industrial contracting. Check regularly for insights into how the company maintains its position through technical expertise and operational excellence.
Energy Services of America (Nasdaq: ESOA) reported revenue of $71.1 million, a 33% increase, and a gross profit of $6.2 million, a 60% increase for the fiscal second quarter ended March 31, 2024. The net loss improved by $765,000 to $1.1 million, or ($0.07) per share, and adjusted EBITDA improved by $1 million to $923,000. The backlog stood at $222.8 million, showing growth compared to the prior quarter.
The Company's positive financial results were driven by increased work in Gas & Petroleum Transmission and Electrical, Mechanical, and General business lines. Despite higher selling and administrative expenses due to additional personnel, the Company remains optimistic about future growth opportunities given the strong industry outlook and robust backlog.
Adjusted EBITDA for the quarter was $922,930, reflecting the Company's cash-generating activity. Energy Services of America remains committed to safety, quality, and production, serving customers in various industries with over 1,000 employees.
Energy Services of America Corporation (NASDAQ: ESOA) reported a net income of $164,000 and earnings per share of $0.01 for the three months ending December 31, 2022. Revenues saw an increase to $60.0 million compared to $42.7 million in the same period last year. Adjusted EBITDA was $2.6 million, down from $3.1 million. The backlog surged to $206.9 million from $101.6 million year-over-year, indicating growth potential. President Douglas Reynolds acknowledged that the first quarter fell short of expectations but expressed optimism about ongoing and future projects, including natural gas and electric vehicle initiatives.
Energy Services of America (Nasdaq: ESOA) has declared a special dividend of $0.05 per common share, payable on February 15, 2023, to shareholders of record as of January 31, 2023. This decision reflects the company's strong financial position and commitment to enhancing shareholder value, according to President Douglas Reynolds. Energy Services is engaged in various sectors, including natural gas and petroleum, employing over 1,000 people across the mid-Atlantic and Central U.S. regions.
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