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 Corporation (NASDAQ: ESOA) is a Huntington, West Virginia-based contractor and service company operating primarily in the mid-Atlantic and Central regions of the United States. It serves customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries, with an industry classification in water and sewer line and related structures construction. This news page aggregates company-issued updates and market coverage related to ESOA stock.
News about Energy Services of America frequently centers on quarterly and annual financial results, including revenue, gross profit, net income, backlog, and adjusted EBITDA, as reported in its earnings press releases and related Form 8-K filings. Management commentary often discusses performance in business lines such as Gas & Water Distribution, Gas & Petroleum Transmission, and the Electrical, Mechanical and General segment, as well as the impact of weather and project timing on margins.
Investors can also follow corporate developments such as acquisitions and capital markets milestones. Recent examples in company communications include the acquisition of Tribute Contracting & Consultants, the Nitro Construction subsidiary’s acquisition of Rigney Digital Systems, and the company’s addition to the Russell 2000 and Russell 3000 indexes. The company also announces dividend declarations through 8-K filings and press releases, providing details on quarterly cash dividends per share and record and payment dates.
Other ESOA news items include participation in investor conferences and one-on-one meeting events, where management presents the company’s story to institutional and other investors. For followers of ESOA stock, this page offers a centralized view of earnings announcements, backlog updates, acquisition news, index inclusions, and dividend actions directly tied to Energy Services of America’s public disclosures.
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.
Energy Services of America (NASDAQ: ESOA) reported a net income of $3.9 million and earnings per share (EPS) of $0.24 for the fiscal year ended September 30, 2022. Revenue increased to $197.6 million, up from $122.5 million in 2021, with an adjusted EBITDA of $12.5 million. Their backlog has also risen significantly to $142.3 million, compared to $72.2 million a year prior. The company's growth strategy includes two acquisitions in 2022 and plans to file its Annual Report on Form 10-K on December 22, 2022.
Energy Services of America Corporation (Nasdaq: ESOA) reported revenues of $51.2 million and $129.2 million for the three and nine months ended June 30, 2022, respectively. Net income stood at $1.6 million for the quarter and $2.2 million for the nine-month period, with adjusted EBITDA of $4.0 million and $7.7 million. The company aims for a strong fourth quarter, fueled by recent acquisitions and a new share repurchase program. The backlog totals $135.0 million, indicating future revenue potential.
Energy Services of America (NASDAQ: ESOA) announced the acquisition of assets from Ryan Environmental, LLC for $1.8 million and from Ryan Environmental Transport, LLC for $1.0 million, totaling $2.8 million. The acquisition includes equipment and vehicles as part of a bankruptcy court order. Ryan Construction, a newly formed subsidiary, will also lease former offices in Bridgeport, WV, and offer employment to former Ryan Environmental staff. This strategic move is aimed at expanding services and entering new markets, including gas distribution and broadband construction.
Energy Services of America (NASDAQ: ESOA) announced a share repurchase program, authorizing the buyback of up to 1,000,000 shares, representing approximately 6% of its outstanding stock. The program is set to begin after the upcoming earnings release in August 2022 and has no expiration date. Shares may be repurchased in open market or private transactions, depending on favorable conditions. President Douglas Reynolds stated this initiative reflects the Board's confidence in the Company’s financial health and commitment to enhancing shareholder value.
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.
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