Energy Services Stock Price, News & Analysis

Energy Services of America Corporation (ESOA) reported revenues of $35.3 million for Q2 and $78.1 million for the first half of 2022. The company experienced a net loss of ($586,000) for Q2 but achieved a net income of $585,000 in the first half, marking positive earnings for the first six months since 2017. Adjusted EBITDA stood at $737,000 for Q2 and $3.7 million for six months. ESOA has a backlog of $120.3 million and recently completed the acquisition of Tri-State Paving & Sealcoat, enhancing its water service capabilities.

Energy Services of America Corporation (Nasdaq: ESOA) has completed its acquisition of Tri-State Paving & Sealcoating for $7.5 million in cash, a $1.0 million Promissory Note, and $1.0 million in common stock. This strategic acquisition aims to enhance its water distribution services, crucial for future growth. David Corns will remain President of the new subsidiary, emphasizing safety, quality, and customer service as key strengths. The company operates primarily in the mid-Atlantic region, employing over 700 individuals.

Energy Services of America Corporation (NASDAQ: ESOA) has announced its acquisition of Tri-State Paving & Sealcoating, LLC for $7.5 million in cash, a $1.0 million seller note, and $1.0 million in common stock. The deal is set to close on April 29, 2022. This acquisition aims to enhance Energy Services’ offerings to water distribution utilities and expand its footprint in the growing water market. David Corns will stay on as president of the new subsidiary, ensuring continuity and leveraging his extensive industry experience.

Energy Services of America Corporation (ESOA) has received approval from Nasdaq to list its common stock on the Nasdaq Capital Market, effective March 23, 2022. President Douglas Reynolds expressed optimism regarding the uplisting, anticipating increased appeal and liquidity for their shares. This move is part of the company's initiatives to enhance shareholder value in 2022. Energy Services operates primarily in the mid-Atlantic and Central regions of the U.S., serving various industries including natural gas, petroleum, and power with a workforce of over 700 employees.

Energy Services of America Corporation (OTCQB: ESOA) recently appointed R. Neil Riddle as Chief Operating Officer. With over 30 years in project management and executive roles across multiple sectors, Riddle brings significant expertise to the company. President Douglas Reynolds expressed enthusiasm for Riddle's appointment, noting his leadership skills and potential to enhance shareholder value.

Energy Services operates primarily in the mid-Atlantic and Central U.S., providing services in various industries, including natural gas and power, with a workforce exceeding 700 employees.

Energy Services of America (OTCQB: ESOA) reported $42.7 million in revenue and $1.2 million in net income for the quarter ending December 31, 2021. This marks the best fiscal first quarter in over five years. The company achieved an adjusted EBITDA of $3.0 million and earnings per share of $0.07. As of the end of December 2021, the backlog stood at $101.6 million. President Douglas Reynolds emphasized the goal of increasing shareholder value and announced plans to list on the Nasdaq Capital Market for enhanced visibility.

Energy Services of America (OTCQB: ESOA) has submitted an application to list its common stock on the Nasdaq Capital Market®. The company believes it meets all necessary financial, liquidity, and governance requirements for listing, with a decision expected in Q1 2022. President Douglas Reynolds highlighted recent expansions in service offerings and geographic reach, indicating that uplisting could enhance share appeal and liquidity, ultimately benefiting shareholders.

Energy Services of America Corporation (OTCQB: ESOA) reported fiscal 2021 revenues of $122.5 million and net income of $8.8 million, with earnings per share at $0.52. The company saw a backlog of $72.2 million as of September 30, 2021. A legal verdict of $5.8 million was awarded post-fiscal year, pending judgment. During the year, Energy Services expanded its operations and strengthened its balance sheet, particularly through loan forgiveness. The company anticipates growth in fiscal 2022.

Energy Services of America Corporation (OTCQB: ESOA) reported fiscal year 2021 revenues of $122.5 million, an adjusted EBITDA of $3.8 million, and a net income of $8.8 million, translating to earnings per share of $0.52. The company maintained a backlog of $72.2 million. Following the fiscal year, a $5.8 million verdict was awarded in a lawsuit against a former customer, pending final judgment.

President Douglas Reynolds noted expansion in gas and water distribution via acquisition and entering new markets including solar installation.