Energy Services Of America Corporation · NASDAQ:ESOA
Energy Services Of America — Midwest IDEAS Conference 2026
17 slides from Energy Services Of America's conference presentation, August 2026
Slide 1: Investor Presentation
ENERGY SERVICES OF AMERICA Investor Presentation Industrial & infrastructure construction across the mid-Atlantic and Central United States — water, natural gas, electrical, mechanical, and general construction services. NASDAQ: ESOA Midwest IDEAS Conference August 2026
Slide 2: Forward-Looking Statements & Non-GAAP Measures
IMPORTANT INFORMATION Forward-Looking Statements & Non-GAAP Measures This presentation and any other written or oral statements made by us from time to time may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which may be identified by t
Slide 3: Energy Services of America at a Glance
NASDAQ: ESOA • MEMBER OF THE RUSSELL 2000 Energy Services of America at a Glance Energy Services of America is an industrial and infrastructure construction company serving the water / wastewater, natural gas, automotive, power, chemical, manufacturing, and commercial industries through three busine
Slide 4: Investment Highlights
WHY ESOA Investment Highlights 1 2 3 4 Record top line Surging backlog Blue-chip customers Structural tailwinds FY2025 revenue reached a company record Backlog grew from $259.7M (9/30/25) to a Long-standing relationships with leading Customer spending on infrastructure and $411M — up 3.4x from FY202
Slide 5: A Misunderstood Infrastructure Opportunity
THE OPPORTUNITY A Misunderstood Infrastructure Opportunity ESOA serves many of the same utility, power generation, industrial, and data center end markets as larger infrastructure contractors, yet trades at one of the lowest valuation multiples among the selected peer group. Public Infrastructure Co
Slide 6: Potential for Meaningful Re-Rating
CLOSING THE GAP Potential for Meaningful Re-Rating Potential catalysts and operating drivers Illustrative value at management’s $50M EBITDA objective ▸ $50M EBITDA objective Management is targeting $50M of EBITDA within 12–18 months — vs. $33.1M TTM. CURRENT ~7.6x TTM EV/EBITDA — market cap ~$11.80
Slide 7: A Blue-Chip Customer Portfolio
LONG-STANDING RELATIONSHIPS A Blue-Chip Customer Portfolio Leading utilities, energy companies, and industrial manufacturers — many served across multiple ESOA subsidiaries. NASDAQ: ESOA 7
Slide 8: Revenue by End Market
RECORD FINANCIAL PERFORMANCE Revenue by End Market $500 $450 $411M Record FY2025 revenue — fiscal year ended September 30, 2025 $400 $350 $300 $250 3.4x Revenue growth since FY2020 ($119M → $200 $411M) $150 $100 $50 $0 $337M FY2026 revenue (nine months ended FY20 FY21 FY22 FY23 FY24 FY25 TTM 6/30/26
Slide 9: Backlog Remains Near Historic Highs
DEMAND VISIBILITY Backlog Remains Near Historic Highs $350 $301 $325 $286M Backlog at June 30, 2026 $300 $286 $260 $250 $243 $230 +10% $200 Growth in nine months, from $259.7M at $150 $142 September 30, 2025 $100 $72 $64 $50 4.5x Backlog growth since FY2020 ($64M → $286M) $0 9/30/20 9/30/21 9/30/22
Slide 10: EBITDA Inflection Underway
PROFITABILITY EBITDA Inflection Underway FY25 EBITDA: $17.2M → TTM 6/30/26: $33.1M → Management objective: $50M $35 9% $33.1M TTM Adjusted EBITDA at 6/30/26 $30 8% $10.4M TTM net income available to common 7% shareholders $25 6% $20 5% $15 4% 7.1% TTM Adjusted EBITDA margin, rebounding from 4.2% in
Slide 11: Stronger Balance Sheet, Disciplined Capital Allocation
FINANCIAL STRENGTH Stronger Balance Sheet, Disciplined Capital Allocation Book value per common share Capital allocation priorities $5.00 $4.51 $4.50 1 Acquisitions $4.00 We aim to purchase companies we are familiar with. Recent: West Virginia $3.54 $3.54 Pipeline, Tri-State Paving & Sealcoating, He
Slide 12: Three Levers of Growth
FINANCIAL GROWTH Three Levers of Growth 1 2 3 Grow newer subsidiaries Expand end markets Strategic M&A Continue to grow the newer subsidiaries added to Increase infrastructure and manufacturing construction Explore strategic inorganic growth opportunities, diversify capabilities and expand opportuni
Slide 13: Primary Service Area
WHERE WE WORK Primary Service Area Water & natural gas distribution Operates primarily in West Virginia, Ohio, and Kentucky. Petroleum & natural gas transmission Customer-driven, ranging from the Northeast to the central United States. Electrical, mechanical & HVAC/R Primarily West Virginia, Virgini
Slide 14: The ESOA Family of Companies
SEVEN OPERATING COMPANIES — PART 1 OF 2 The ESOA Family of Companies CJ Hughes Construction Nitro Construction Services Huntington, WV — Safety, Quality, and Production since Nitro, WV — Serving customers since 1959 as Nitro 1946. Construction, replacement and repair of natural gas Electric. Electri
Slide 15: The ESOA Family of Companies
SEVEN OPERATING COMPANIES — PART 2 OF 2 The ESOA Family of Companies Tri-State Paving & Sealcoating West Virginia Pipeline Hurricane, WV — Reliable. Responsive. Results-Driven. Princeton, WV — Excellence and proficiency in the pipeline Utility paving contractor with 15+ years of quality work, indust
Slide 16: Energy Services of America Leadership
APPENDIX Energy Services of America Leadership CORPORATE SUBSIDIARY LEADERSHIP Douglas Reynolds President & CEO CJ Hughes Construction Chuck Austin, President • Matt Hill, VP • Ralph Long, GM Charles Crimmel Chief Financial Officer Nitro Construction Services Troy Taylor Chief Operating Officer Gabe
Slide 17: Reconciliation of Adjusted EBITDA & Adjusted EBITDA Margin
APPENDIX Reconciliation of Adjusted EBITDA & Adjusted EBITDA Margin $ in millions FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 TTM 6/26 Net income (loss) available to common shareholders 2.1 (1.2) 3.8 7.4 25.1 0.4 10.4 Add (less): Income tax (benefit) expense 1.1 (0.0) 2.3 3.0 8.4 0.5 4.2 Add: Dividend
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