Energy Services of America CORP

Listed Company

ESOACIK 0001357971NasdaqAcceleratedSmaller ReportingWater, Sewer, Pipeline, Comm & Power Line ConstructionDelawareFY ends Sep 30

Period

FY 2025

Revenue

$411.00M

Net Income

—

Total Assets

$215.21M

Equity

$59.24M

Shares Out

16.66M

Op. Cash Flow

$4.14M

Business

Energy Services of America CORP is a contractor and service company that provides construction, replacement, maintenance and repair services primarily for pipeline, utility and industrial clients. It offers pipeline construction and repair, gas and water distribution, corrosion protection, horizontal drilling, liquid pipeline and pump station work, electrical, mechanical, HVAC/R, controls, fire protection, broadband and solar installation, and civil and general contracting. The company operates through three reportable segments: Underground Infrastructure Construction, Industrial Construction, and Building Construction. It serves customers mainly in West Virginia, Virginia, Ohio, Pennsylvania, Kentucky and select other U.S. states through direct sales, bidding and subcontracting channels.

Summary from filing dated 2025-12-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenue	411	352	—	—	—
Cost of revenue	372	302	267	175	110
Gross profit	39	50	37	22	13
Selling and administrative expenses	35	30	24	16	14
Income from operations	4	20	13	6	−1
Proceeds from lawsuit judgement	—	16	—	—	—
Other nonoperating expense	−224,843	−21,561	−287,602	−248,006	−58,742
Interest expense	−3	−2	−2	—	—
Gain on sale of equipment	83,552	261,102	34,478	755,470	681,653
Other nonoperating income (expense), Total	−3	14	−3	−479,649	10
Income before income taxes	864,882	34	10	6	9
Income tax expense	485,000	8	3	2	−29,129
Net income	379,708	25	7	4	9
Weighted average shares outstanding-basic (in shares)	17	17	17	16	14
Weighted average shares-diluted (in shares)	17	17	17	16	17
Earnings per share available to common shareholders - basic (in dollar per share)	0.02	1.52	0.44	0.23	0.65
Earnings per share available to common shareholders - diluted (in dollar per share)	0.02	1.51	0.44	0.23	0.52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31	FY 2024 2024-09-30
Cash and cash equivalents	12	—	—	—	13
Accounts receivable-trade	77	—	—	—	57
Allowance for doubtful accounts	−521,616	—	—	—	−738,526
Retainages receivable	16	—	—	—	12
Other receivables	1	—	—	—	1
Contract assets	34	—	—	—	25
Prepaid expenses and other	5	—	—	—	4
Total current assets	145	—	—	—	110
Property, plant and equipment, at cost	115	—	—	—	92
less accumulated depreciation	−62	—	—	—	−54
Total fixed assets	53	—	—	—	38
Right-of-use assets-operating leases	2	—	—	—	3
Intangible assets, net	5	—	—	—	3
Goodwill	10	—	—	—	4
Total assets	215	—	—	—	158
Current maturities of long-term debt	12	—	—	—	6
Current maturities of lines of credit and short term borrowings	10	—	—	—	10
Current maturities of operating lease liabilities	1	—	—	—	907,503
Accounts payable	31	—	—	—	24
Accrued expenses and other current liabilities	16	—	—	—	14
Contract liabilities	28	—	—	—	17
Income tax payable	—	—	—	—	2
Total current liabilities	98	—	—	—	74
Long-term debt, less current maturities	50	—	—	—	17
Long-term operating lease liabilities, less current maturities	982,621	—	—	—	2
Deferred tax liability	7	—	—	—	6
Total liabilities	156	—	—	—	100
Common stock, $.0001 par value Authorized 50,000,000 shares, 18,111,146 issued and 16,715,026 outstanding at September 30, 2025 and 17,860,413 issued and 16,570,685 outstanding at September 30, 2024	1,813	—	—	—	1,790
Treasury stock, 1,396,120 shares at September 30, 2025 and 1,289,728 at September 30, 2024	−143	—	—	—	−133
Additional paid in capital	62	—	—	—	60
Retained deficit	−3	—	—	—	−2
Total shareholders' equity	59	54	54	61	59
Total liabilities and shareholders' equity	215	—	—	—	158

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation expense	12	9	7	6	5
Accreted interest on PPP loans	99,860	108,356	99,789	99,758	—
Provision for deferred taxes	262,639	−379,622	2	2	211,677
Provision for bad debts	423,750	687,463	—	—	—
Vested restricted stock award compensation	105,119	35,556	—	—	—
Repurchases of shares for tax withholding	−24,321	—	—	—	—
Amortization of intangible assets	1	438,623	490,591	444,565	230,588
Accreted interest on note payable	60,000	61,477	54,687	49,638	0
Increase in accounts receivable-trade	−15	−6	−13	−17	−3
Increase in retainage receivable	−2	−4	−3	−4	2
Decrease (increase) in other receivables	2	−530,984	−506,102	532,462	−533,870
Increase in contract assets	−8	−9	154,373	−7	−2
Increase in prepaid expenses and other	−936,926	−568,372	4	3	−202,057
Increase in accounts payable	4	2	2	13	2
(Decrease) increase in accrued expenses and other current liabilities	−646,233	3	2	5	953,534
Increase (decrease) increase in contract liabilities	11	−792,013	12	3	−2
Net cash provided by operating activities	4	19	21	8	798,939
Investment in property and equipment	−6	−9	−11	−5	−6
Acquisition of Heritage Painting	—	−300,000	—	—	—
Proceeds from sales of property and equipment	1	1	647,111	1	758,391
Net cash used in investing activities	−29	−8	−10	−8	−9
Proceeds from long-term debt	16	—	3	0	0
Borrowings on lines of credit and short term debt, net of (repayments)	20	−10	1	5	8
Treasury stock purchased	−844,230	−41,380	−219,615	0	0
Cash dividend on common stock	−2	−994,031	−833,360	0	0
Principal payments on long-term debt	−9	−3	−5	−4	−3
Net cash provided by (used in) financing activities	25	−14	−2	−805,409	5
Decrease in cash and cash equivalents	−684,628	−4	9	−799,265	−3
Purchases of property & equipment under financing agreements	2	1	975,643	549,455	3
Debt assumed in Rigney acquisition for equipment	115,165	—	0	390,445	205,829
Sellers' note Rigney acquisition	461,000	—	0	936,000	0
Line of credit moved to long-term note for equipment purchases	5	812,915	8	0	—
Common dividends declared but not paid	501,342	—	—	—	—
Net operating lease right-of-use assets received in exchange for operating lease liabilities	630,750	265,941	—	—	—
Interest	3	2	2	846,129	557,320
Income taxes	3	7	28,589	50,231	251,996

Filings

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