Business
Energy Services of America Reports Fiscal Second Quarter 2025 Results
Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its results for its fiscal second quarter ended March 31, 2025.
About this update from Energy Services Of America Corporation
[{"type":"text","content":"HUNTINGTON, W.Va., May 12, 2025 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its results for its fiscal second quarter ended March 31, 2025.","length":239,"tagName":"p"},{"type":"text","content":"Second Quarter Summary (1)","length":26,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of $76.7 million, an 8% increase","length":40,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit of $78,000, compared to $6.2 million","length":49,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss of $6.8 million, or ($0.41) per share","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Backlog of $280.7 million compared to $222.8 million as of March 31, 2025 and 2024, respectively.","length":97,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":232,"olType":false},{"type":"text","content":"(1) All comparisons are versus the comparable prior year period, unless otherwise stated.","length":94,"tagName":"p"},{"type":"text","content":""Our second quarter is typically our lowest revenue period due to weather. This quarter was impacted more than usual by unfavorable conditions, reducing our fixed cost coverage particularly within our C.J. Hughes business," said Doug Reynolds, President of Energy Services. "We are encouraged by the $37 million sequential increase in our backlog from September 30, 2024 to March 31, 2025, and expect our revenue and profitability to improve as we enter the historically stronger spring and summer months."","length":526,"tagName":"p"},{"type":"text","content":""We believe the prospects for our business remain very favorable for the second half of fiscal 2025 and into fiscal 2026. We continue to experience strong demand for water distribution, particularly from private utility companies as they catch up on pipe replacement projects that have been deferred for many years and from the acquisition of Tribute last December. We remain focused on selecting projects that have a more favorable margin profile and attracting and managing the necessary crews for this work and continue to evaluate potential acquisition opportunities that complement our existing portfolio or offer additional capabilities. Overall, we believe we are well-p...