Energy Services of America第三季純利大增57.9% 收入升25.5%並上調股息

EX-99.1
2
tm2622641d1_ex99-1.htm
EXHIBIT 99.1

 

 

Exhibit 99.1

 

Energy
Services of America Reports Third Quarter Fiscal 2026 Results

 

Records
25.5% Year-over-Year Revenue Increase and 57.9% Increase in Net Income 

 

HUNTINGTON, W.Va., August 10, 2026 /PRNewswire/
-- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its
results for its fiscal third quarter ended June 30, 2026.

 

Third Quarter Summary (1)

 

 
 ·
 Revenue of $130.0 million versus $103.6
 million

 
  
  

 
 ·
 Gross profit of $14.3 million versus $12.0 million

 
  
  

 
 ·
 Gross margin of 11.0% compared to 11.6%

 
  
  

 
 ·
 Net income of $3.3 million, or $0.18 per diluted
 share, compared to $2.1 million, or $0.12 per diluted share.

 
  
  

 
 ·
 Adjusted EBITDA of $8.3 million compared to $6.5
 million

 
  
  

 
 ·
 Increased quarterly dividend by 33% to $0.04 per
 share

 

 

(1) All
comparisons are versus the comparable prior year period, unless otherwise stated.

 

"Our third quarter results reflect
strength across each of our segments, thanks to continued demand for water distribution and electrical construction as well as the continued
recovery in our gas transmission business. The quarter also benefited from the more favorable weather throughout the spring, allowing
our projects to start on or ahead of schedule," said Doug Reynolds, President of Energy Services. “Profitability during the
quarter was slightly affected by a lower-than-expected gross profit margin on a large gas transmission project , but the diversity
of our business allowed us to absorb this impact and still report a 58% increase in year-over-year net income.”

 

“We remain optimistic about the
near and longer-term opportunities for the business, driven by the ongoing replacement cycle for water infrastructure and the growth
in electric demand and build out of data centers across the country. This confidence is reflected in the 33% increase in our quarterly
dividend, which is an important component in our focus of delivering long-term shareholder return,” Mr. Reynolds concluded.

 

  

  

 

 

Third
Quarter Fiscal 2026 Financial Results

 

Total
revenues for the period were $130.0 million, compared to $103.6 million in the third quarter of fiscal 2025. The increase was primarily
driven by increased work across all segments, particularly Gas & Petroleum Transmission.

 

Gross
profit was $14.3 million, compared to $12.0 million in the prior-year quarter. Gross margin was 11.0% of revenues, compared to 11.6%
of revenues in the third quarter of fiscal 2025. The decrease in gross margin is related to one large gas transmission project, partially
offset by higher levels of construction activity across the business.

 

Selling
and administrative expenses were $9.7 million, compared to $8.8 million in the prior-year quarter. The increase is primarily related
to higher labor and related costs associated with the Company's growth, partially offset by improved operating leverage.

 

Net
income was $3.3 million, or $0.18 per diluted share, compared to $2.1 million or $0.12 per diluted share in the third quarter of fiscal
2025.

 

Backlog
as of June 30, 2026 was $286.6 million, compared to $325.1 million on March 31, 2026 and $280.7 million as of June 30, 2025.

 

Below is a comparison of the Company's
operating results for the three months ended June 30, 2026 and 2025 (unaudited):

 

 
   
 Three Months Ended  
 Three Months Ended  
 Nine Months Ended  
 Nine Months Ended 

 
   
 June 30,  
 June 30,  
 June 30,  
 June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
 Revenue 
 $130,005,928  
 $103,601,585  
 $337,291,570  
 $280,926,850 

 
   
     
     
     
    

 
 Cost of revenues 
  115,688,703  
  91,618,987  
  298,748,217  
  258,602,810 

 
   
     
     
     
    

 
 Gross profit 
  14,317,225  
  11,982,598  
  38,543,353  
  22,324,040 

 
   
     
     
     
    

 
 Selling and administrative expenses 
  9,685,305  
  8,814,545  
  27,940,257  
  25,602,253 

 
 Income (loss) from operations 
  4,631,920  
  3,168,053  
  10,603,096  
  (3,278,213)

 
   
     
     
     
    

 
 Other income (expense) 
     
     
     
    

 
 Other nonoperating expense 
  (118,403) 
  (38,529) 
  (315,268) 
  (107,407)

 
 Interest expense 
  (486,914) 
  (781,198) 
  (2,098,600) 
  (2,140,686)

 
 Gain (loss) on sale of equipment 
  5,097  
  (128,710) 
  93,846  
  50,532 

 
 Total other income (expense) 
  (600,220) 
  (948,437) 
  (2,320,022) 
  (2,197,561)

 
   
     
     
     
    

 
 Income (loss) before income taxes 
  4,031,700  
  2,219,616  
  8,283,074  
  (5,475,774)

 
   
     
     
     
    

 
 Income tax expense (benefit) 
  745,041  
  137,987  
  2,075,386  
  (1,612,718)

 
   
     
     
     
    

 
 Net income (loss) 
 $3,286,659  
 $2,081,629  
 $6,207,688  
 $(3,863,056)

 
   
     
     
     
    

 
 Weighted average shares outstanding-basic 
  18,622,477  
  16,625,761  
  17,614,419  
  16,644,028 

 
   
     
     
     
    

 
 Weighted average shares-diluted 
  18,659,624  
  16,666,135  
  17,653,687  
  16,644,028 

 
   
     
     
     
    

 
 Earnings (loss) per share-basic 
 $0.18  
 $0.13  
 $0.35  
 $(0.23)

 
   
     
     
     
    

 
 Earnings (loss) per share-diluted 
 $0.18  
 $0.12  
 $0.35  
 $(0.23)

 

 

  

  

 

 

Please refer to the table below that
reconciles adjusted EBITDA with net income (unaudited):

 

 

 
   
 Three Months Ended  
 Three Months Ended  
 Nine Months Ended  
 Nine Months Ended 

 
   
 June 30,  
 June 30,  
 June 30,  
 June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
 Net income (loss) 
 $3,286,659  
 $2,081,629  
 $6,207,688  
 $(3,863,056)

 
   
     
     
     
    

 
 Add (less): Income tax expense (benefit) 
  745,041  
  137,987  
  2,075,386  
  (1,612,718)

 
   
     
     
     
    

 
 Add:  Interest expense, net of interest income 
  486,914  
  781,198  
  2,098,600  
  2,140,686 

 
   
     
     
     
    

 
 Add: Non-operating expense 
  118,403  
  38,529  
  315,268  
  107,407 

 
 (Less) add:  (gain) loss on sale of equipment 
  (5,097) 
  128,710  
  (93,846) 
  (50,532)

 
 Add: Depreciation and intangible asset amortization expense 
  3,697,049  
  3,291,414  
  11,112,160  
  9,172,704 

 
   
     
     
     
    

 
 Adjusted EBITDA 
 $8,328,969  
 $6,459,467  
 $21,715,256  
 $5,894,491 

 

 

Use of Non-GAAP Financial Measures

 

In addition to the financial measures
prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial
measures. The reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures and other information
relating to these measures are included herein. We include these measurements to enhance the understanding of our operating performance.
We believe that Adjusted EBITDA as presented herein, considered along with net income (loss), is a relevant indicator of trends relating
to the cash generating activity of our operations. We believe that excluding the items identified above provides a consistent comparison
of the cash-generating activity of our operations. We believe that Adjusted EBITDA is useful to investors as it facilitates a comparison
of our operating performance to other companies that also use Adjusted EBITDA as a supplemental operating measure. Non-GAAP financial
measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results
prepared in accordance with GAAP.

 

About Energy Services

 

Energy Services of America Corporation
(NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and
Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive,
chemical, and power industries. Energy Services employs 1,500+ employees on a regular basis. The Company's core values are safety, quality,
and production.

 

Certain statements contained in the
release including, without limitation, the words "believes," "anticipates," "intends," "expects"
or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any
future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include,
among others, general economic and business conditions, changes in business strategy or development plans, the integration of acquired
business and other factors referenced in this release, risks and uncertainties related to the restatement of certain of our historical
consolidated financial statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such
forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any
revisions to any of the forward-looking statements contained herein to reflect future events or developments.

 

Contact

Steven Hooser or John Beisler

Three Part Advisors

[email protected]; [email protected]

(214) 872-2710