Welcome to our dedicated page for Energy Services of America news (Ticker: ESOA), a resource for investors and traders seeking the latest updates and insights on Energy Services of America 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 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.
Energy Services of America Corporation (OTC QB: ESOA) reported strong financial results for the three and nine months ended June 30, 2021. Revenues reached $25.3 million and $82.9 million, with net income available to common shareholders at $9.2 million for three months, up from $9.2 million loss in the same period last year. Gross profit margin improved to 10.7% and 9.0% versus 9.2% and 7.0% in 2020. However, a decrease in demand for gas and petroleum transmission services raised concerns. The backlog increased to $73.1 million.
Energy Services of America Corporation (OTC QB: ESOA) reported Q2 financial results for 2021, achieving revenues of $25.6 million and $57.6 million for the three and six months ended March 31, respectively. The company experienced a net loss of $1.4 million for the quarter, with an adjusted EBITDA of ($798,399). Gross profit percentage improved from 0.4% to 7.3% for Q2 year-over-year. Increased demand for services and contributions from acquisitions led to positive revenue trends, with a backlog of $61.2 million.