Energy Services of America reports Q3 EPS $1.06 vs. 21c last year

Reports Q3 revenue $85.9M vs. $85.5M last year. This quarter’s results include approximately $11.4M net of estimated income tax expense, or 69c per diluted share, from a legal judgement. “Our third quarter results, particularly our improved gross profit, reflect the underlying strength of the business and our ability to focus on projects with more favorable margin profiles,” said Doug Reynolds, President. “We added $28 million to our backlog compared to the second quarter and continue to identify and hire the right employees to effectively manage these additional projects.” “We continue to experience very favorable tailwinds across the industries we serve and believe this trend will continue well into fiscal 2025. We reduced our debt by almost $14 million in the quarter and our strong balance sheet will allow us to continue to be opportunistic with acquisitions. Overall, we are very optimistic about the prospects for our business over the coming quarters and believe we are well-positioned to deliver long-term value to our shareholders,” Reynolds concluded.