HUNTINGTON, W.Va., Feb. 9, 2026 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (NASDAQ:ESOA), today announced its results for its first quarter ended December 31, 2025.
First Quarter Highlights (1)
Revenue of $114.1 million versus $100.6 million
Gross profit of $14.0 million versus $10.3 million
Gross margin improved 210 basis points to 12.3%
Net income of $2.7 million, or $0.16 per diluted share, compared to $854,000, or $0.05 per diluted share.
Adjusted EBITDA of $8.3 million compared to $4.3 million
(1) All comparisons are versus the comparable prior year period, unless otherwise stated.
"We had a very strong start to fiscal 2026, thanks to continued robust demand within our Gas & Water Distribution segment and growth within our Gas & Petroleum Transmission segment from two new projects awarded in the quarter," said Doug Reynolds, President of Energy Services.
"We continue to benefit from the very favorable tailwinds across our business, as evidence by the $42 million sequential increase in our backlog. After an extended period of reduced activity, the Gas & Petroleum Distribution segment is experiencing an uptick in bid opportunities. Revenue for our Gas & Water Distribution projects increased 30 percent from the prior-year quarter thanks to the ongoing replacement and upgrade cycle by municipalities and private utility companies. Revenue for the Electrical, Mechanical and General projects declined slightly on a year-over-year basis, but backlog increased by $7 million sequentially thanks to strong demand for large construction projects. We have been proactive in optimizing our workforce for the seasonally slower winter months, and remain optimistic about the prospects of the business, which should deliver long-term value to our shareholders," Mr. Reynolds concluded.
First Quarter Fiscal 2026 Financial Results
Total revenues for the period were $114.1 million, compared to $100.6 million in the first quarter of fiscal 2025. The increase was primarily driven by increased work on Gas & Water Distribution and Gas & Petroleum Transmission projects.
Gross profit was $14.0 million, compared to $10.3 million in the prior-year quarter. Gross margin was 12.3% of revenues, compared to 10.2% of revenues in the first quarter of fiscal 2025. The decrease is related to sales mix and increased revenue base.
Selling and administrative expenses were $9.1 million, compared to $8.6 million in the prior-year quarter. The increase is primarily related to a full quarter contribution of expenses related to the Tribute acquisition that was completed in December of last year.
Net income was $2.7 million, or $0.16 per diluted share, compared to $854,000 or $0.05 per diluted share in the first quarter of fiscal 2025.
Backlog as of December 31, 2025 was $301.4 million, compared to $259.7 million on September 30, 2025 and $260.2 million as of September 30, 2024.
Below is a comparison of the Company's operating results for the three months ended December 31, 2025 and 2024 (unaudited):
Three Months Ended
Three Months Ended
December 31, 2025
December 31, 2024
Revenue
$ 114,112,200
$ 100,646,114
