Energy Services Of America ( (ESOA) ) has released its Q4 earnings. Here is a breakdown of the information Energy Services Of America presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Energy Services of America Corporation, headquartered in Huntington, WV, is a contractor and service company operating mainly in the mid-Atlantic and Central U.S., providing services to sectors such as natural gas, petroleum, water distribution, automotive, chemical, and power industries.
Energy Services of America has reported a robust fiscal year 2024 with significant growth in revenue and gross profit, highlighting a strategic focus on more profitable projects and an increased backlog. The company also saw a substantial rise in net income, partly due to a legal judgment benefit.
For the fourth quarter, Energy Services achieved a revenue of $104.7 million, closely matching the previous year’s figures, while gross profit increased to $17.6 million. The company also reported a net income of $6.7 million, marking an improvement over the prior year, driven by enhanced project margins and efficient management of resources. On an annual scale, revenue surged by 15.7% to $351.9 million, and gross profit rose by 36%, with net income reaching $25.1 million, boosted by a legal settlement.
Looking ahead, Energy Services of America is optimistic about its prospects in fiscal 2025, supported by favorable industry trends and strategic acquisitions. The company plans to capitalize on infrastructure funding and expand its project portfolio to deliver sustained shareholder value.
