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Energy Services of America Corporation

Energy Services of America Corporation (ESOA)

7.12
-0.36
(-4.81%)
Closed June 22 4:00PM
7.12
0.00
(0.00%)
After Hours: 4:31PM

Real-time discussions and trading ideas: Trade with confidence with our powerful platform.

Key stats and details

Current Price
7.12
Bid
7.00
Ask
7.30
Volume
163,200
7.05 Day's Range 7.43
2.5099 52 Week Range 9.4945
Market Cap
Previous Close
7.48
Open
7.43
Last Trade Time
Financial Volume
$ 1,173,011
VWAP
7.1876
Average Volume (3m)
163,084
Shares Outstanding
16,607,915
Dividend Yield
0.84%
PE Ratio
15.98
Earnings Per Share (EPS)
0.45
Revenue
304.1M
Net Profit
7.4M

About Energy Services of America Corporation

Energy Services of America Corporation is engaged in providing contracting services for energy-related companies. The company is primarily engaged in the construction, replacement, and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. It ... Energy Services of America Corporation is engaged in providing contracting services for energy-related companies. The company is primarily engaged in the construction, replacement, and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. It services the gas, petroleum, power, chemical, and automotive industries and does incidental work such as water and sewer projects. Energy Service's other services include liquid pipeline construction, pump station construction, production facility construction, water and sewer pipeline installations, various maintenance and repair services, and other services related to pipeline construction. Show more

Sector
Water,sewer,pipeline Constr
Industry
Water,sewer,pipeline Constr
Headquarters
Wilmington, Delaware, USA
Founded
1970
Energy Services of America Corporation is listed in the Water,sewer,pipeline Constr sector of the NASDAQ with ticker ESOA. The last closing price for Energy Services of America was $7.48. Over the last year, Energy Services of America shares have traded in a share price range of $ 2.5099 to $ 9.4945.

Energy Services of America currently has 16,607,915 shares outstanding. The market capitalization of Energy Services of America is $118.25 million. Energy Services of America has a price to earnings ratio (PE ratio) of 15.98.

ESOA Latest News

Energy Services of America to Present and Host 1x1 Meetings at the 14th Annual East Coast IDEAS Investor Conference on June 13

Energy Services of America to Present and Host 1x1 Meetings at the 14th Annual East Coast IDEAS Investor Conference on June 13 PR Newswire HUNTINGTON, W.Va., June 11, 2024 HUNTINGTON, W.Va., June...

Energy Services of America Reports Fiscal Second Quarter 2024 Results

Energy Services of America Reports Fiscal Second Quarter 2024 Results PR Newswire HUNTINGTON, W.Va., May 8, 2024 HUNTINGTON, W.Va., May 8, 2024 /PRNewswire/ -- Energy Services of America...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.29-3.913630229427.418.037.051330397.55854118CS
40.7311.42410015656.398.476.241579307.42761398CS
12-1.23-14.73053892228.359.49455.71630847.28812381CS
261.9738.25242718455.159.494551506197.30539684CS
524.52173.8461538462.69.49452.50991118966.25284497CS
1564.12137.33333333339.49451.771254834.40143281CS
2604.12137.33333333339.49451.771254834.40143281CS

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ESOA Discussion

View Posts
Mr Fox Mr Fox 4 months ago
Impressive 1 year chart.
Looking forward to the next qtr.
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81vette 81vette 2 years ago
not looking good atm
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81vette 81vette 2 years ago
no shares to short,zero borrow> https://www.shortablestocks.com/
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81vette 81vette 2 years ago
gap up tomorrow?news is spreading
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Renee Renee 2 years ago
You certainly have the right moniker for investing in oil/n.g. companies.

Best o' luck with ESOA!!
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crudeoil24 crudeoil24 2 years ago
Nice bounce up from 3.50 > going much higher as WTI futures sky rocket!

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makinezmoney makinezmoney 2 years ago
$ESOA: Now up to 4.55..... should be $10/sh


People still don't realize how much revenue they are generating from all their subsidiaries and
how low the float is on this one.


They will






GO $ESOA
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crudeoil24 crudeoil24 2 years ago
May buy a few shares.

ESOA
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makinezmoney makinezmoney 2 years ago
$ESOA: Bull Flag Breakout SETUP coming here


Currently at $3 !!!






GO $ESOA
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makinezmoney makinezmoney 2 years ago
$ESOA: Should be at $10/sh











GO $ESOA
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makinezmoney makinezmoney 2 years ago
$ESOA: Generating $122Milly in Revenue last FY !!!!!!!!!!!


Soooooooooooooooooooo Cheap here.



Now at 3.25


https://marketwirenews.com/news-releases/energy-services-of-america-files-annual-report-5374843244486552.html?t=719778



Great UPLUST day



GO $ESOA
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Renee Renee 2 years ago
ESOA moved to the Nasdaq from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions
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geodan geodan 6 years ago
ESOA is doing much better now, maybe go to $2?
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geodan geodan 7 years ago
It should recover, think one time blip, had many good Qs before the last one.
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rado rado 7 years ago
President put out a shareholder letter.



August 24, 2017



Dear Fellow Shareholder,


The third quarter of fiscal year 2017 was the most challenging quarter in my four years as CEO of our company. For the quarter, we lost $1.9 million on revenue of $35.7 million. This poor result was driven by $5.8 million in losses on two related jobs. The setbacks on these projects was driven by several main factors: due to the intense level of pipeline construction, we failed to procure and retain the skilled labor force required to meet our production expectations. Larger projects, particularly those being built on a cost-plus basis, have paid above market wages and incentives to lure away qualified employees. Due to this pressure and a provision in our collective bargaining agreement, we had to compensate our crews for one extra hour each day due to inadequate lodging availability. To make matters worse, the qualified labor pool was limited in these markets resulting in more training expense and lower productivity. Finally, environmental factors far in excess of budget amounts drove bad projects into deep losses: first, a state road construction project in rural Ohio made a few miles take over an hour to move equipment and our construction crews on a daily basis. Second and most detrimental, we have had over 30 inches of rain on the project so far, the computer models based on the previous summers of rainfall only called for 11 inches. Rain not only cost the company non-productive wages paid according to labor agreements, but it also causes clean up and production issues when work can begin again.

For the quarter, CJ Hughes had a gross loss of $2.6 million from projects, so clearly many other projects and divisions performed well to offset nearly $3.2 million in losses from the troubled projects. In response to recent problems, we have added talent to our estimating team and have added an independent bid calculation to our transmission bids. We also plan to analyze what size and type of projects make the most sense to take on with the current market conditions.

Our Nitro Electric division had revenues of $11.6 million and gross profit of $1.2 million for the quarter. While this is down from revenues of $14.0 million and gross profit of $1.3 million for the quarter ended June 30, 2016, the company improved its gross margin percent to 9.90% from 9.50%. Consequently, we have generated $1.3 million in pre-tax income for the nine months ended June 30, 2017; the best for Nitro Electric as part of Energy Services of America.

Experience is what you get when you don’t get what you want. Even factoring in the quarter loss, we have over $20.6 million in equity, sufficient cash flow to meet all our obligations, and can still potentially end fiscal year 2017 in a better position than we started. While our backlog of $68.0 million at June 30, 2017 is down from $77.0 million at June 30, 2016, it is a significant increase over the $48.8 million backlog we had had at June 30, 2015. We appreciate your continued support and look forward to finishing a strong fourth quarter on September 30, 2017.

Yours Truly,



Doug Reynolds, President ESA
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geodan geodan 7 years ago
Its cheap I did buy more about $1
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rado rado 7 years ago
Looks like 150K purchased by the president and officer of preferred stock.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12243720

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12243722
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willlbone willlbone 7 years ago
So 10Q must be bad.
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Wrangler7524 Wrangler7524 7 years ago
Energy Services of America's Facebook page

www.facebook.com/energyservicesofamerica
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geodan geodan 7 years ago
Welcome back. I may hold this one for years, have dug pretty deep into it, all sorts of goodies for it.

Cheers
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OBrien OBrien 7 years ago
Not much not to like about ESOA. Should be a nice winner in 2017 IMO.
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ksuave ksuave 7 years ago
I joined you (again) this morning @ 1.70, O'Brien. Just in the nick of time it looks like.
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geodan geodan 7 years ago
OBrien, I am patient on this one, so many things are right about it.
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OBrien OBrien 7 years ago
Surprised ESOA hasn't got more attention. I've been buying this since around 1.30 but added heavily in the 1.60s.

Divy coming up soon and I suspect they will give it a boost from last years .05
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geodan geodan 7 years ago
ESOA doubles Income this Q,Chairmans Letter

https://www.proxydocs.com/0/001/103/793/energy_services_of_america_corporation_shareholder_letter.pdf

Wow!
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geodan geodan 7 years ago
Good timing. With great Q results this will have legs.
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Marzoli Marzoli 7 years ago
I have been on this one since 12/12/16
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geodan geodan 7 years ago
1.80 Close, new 3 year closing high
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geodan geodan 7 years ago
Thanks Rado, not familiar with Savvy till now, looks like smart board, people that understand financials.
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rado rado 7 years ago
It looks like a cup and handle breakout to me too.
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rado rado 7 years ago
More comments on the Savvy board. I picked some up today. Doesn't look like the market has digested how good the quarter is yet.
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geodan geodan 7 years ago
So I am the only one here?
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geodan geodan 7 years ago
New 10 month high, up 9% today.

I just started reading the Q, wow all looks good in it so far
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geodan geodan 7 years ago
ESOA 3% divvy,sellingAT BOOK,DoublesEarnings,InRightSpot

Everything is right about ESOA, pipelines in growing areas +gov infrastructure
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geodan geodan 7 years ago
ESOA earnings out A DOUBLE!!!

Will not format here, read the Q, market loves it!

Energy Services of America Corporation
Consolidated Statements of Income
Unaudited

Three Months Ended Three Months Ended
December 31, December 31,
2016 2015

Revenue $ 37,496,872 $ 34,374,091

Cost of revenues 32,812,085 30,734,450

Gross profit 4,684,787 3,639,641

Selling and administrative expenses 2,195,610 2,184,626
Income from operations 2,489,177 1,455,015

Other income (expense)
Other nonoperating expense (71,429 ) (11,310 )
Interest expense (230,969 ) (233,418 )
Gain on sale of equipment 26,990 31,400
(275,408 ) (213,328 )

Income from continuing operations before income taxes 2,213,769 1,241,687

Income tax expense 975,112 542,831

Income from continuing operations 1,238,657 698,856

Dividends on preferred stock 77,250 77,250
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geodan geodan 7 years ago
Am buying the dip, just got another 1,000 at 1.55

ESOA is a rare stock where basically everything is right about it.
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geodan geodan 7 years ago
Even Better! 1.69 Breakout working perfect and this is just the 2nd day of it.

Cheers
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geodan geodan 7 years ago
Breakout continues now 1.65

ESOA is being discovered, it has the numbers to support a 5 bagger.

Cheers
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geodan geodan 7 years ago
Huge Volume on ESOV,highest in5 years, yesterdays volume of over 162,000 is by far the highest volume in over 5 years for ESOV, a very positive sign, one more reason to be happy about double dipping today by adding.
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geodan geodan 7 years ago
Got to DoubleDip on ESOV today,AfterAlphaReport

After seeing the author of that report confirm all the wonderful things I have been noticing about ESOV anding it go to 1.61 up 7% or so, it dropped? to 1.51. Decided did not have enough of it, so pounced on it and bot 40% more than had already at 1.51, then it closed at 1.59.

Glad doubled dipped.
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geodan geodan 7 years ago
Seeking Alpha Article on ESOV, TEXT

Energy Services Of America - Energy And Infrastructure Upside At A Firesale Price http://seekingalpha.com/article/4035438-energy-services-america-energy-infrastructure-upside-firesale-price

Jan. 10, 2017 2:06 AM ET|1 comment | About: Energy Services of America Corp. (ESOA)
Forrest Wilson Forrest WilsonFollow(92 followers)

Trading below tangible book value with decent operational and growth trends.
Positioned for additional energy and infrastructure spending in the Mid-Atlantic region.
Undervalued due to minuscule ~$20m market cap, which makes it "uninvestable" for institutional firms.
Management has a large stake and a history of being shareholder friendly.
High potential for margin expansion, revenue growth, and increased shareholder returns.
Business Overview

Energy Services of America (OTCQB:ESOA) is a dirt cheap holding company with exposure to two different types of infrastructure. Based in Huntington, West Virginia ESOA operates two service companies, CJ Hughes for pipeline construction and maintenance and another, Nitro Electric, which handles electrical and mechanical services. Revenue split is about 50/50.

From the 10-K issued in December:

Wholly owned subsidiary C.J. Hughes is a general contractor primarily engaged in pipeline construction for utility companies. C.J. Hughes operates primarily in the mid-Atlantic region of the United States. Nitro Electric, Inc. ("Nitro Electric"), a wholly owned subsidiary of C. J. Hughes, is an electrical and mechanical contractor that provides its services to the power, chemical and automotive industries. Nitro Electric operates primarily in the mid-Atlantic region of the United States.

CJ Hughes builds and maintains but does not own intrastate pipelines and sewer systems in the vicinity of the Marcellus Shale. So we're looking at a relatively asset-light, regionally focused subsidiary, which services some pretty big corporate energy, chemical, and utility names, as well as some (probably more predictable) municipal and state customers.

Energy Services' customers include many of the leading companies in the industries it serves, including:

EQT Corporation (NYSE:EQT)

Columbia Gas Distribution

Marathon Petroleum (NYSE:MPC)

American Electric Power (NYSE:AEP)

Toyota Motor (NYSE:TM)

Bayer Chemical (OTCPK:BAYZF)

Dow Chemical (NYSE:DOW)

Kentucky American Water

Various state, county and municipal public service districts.

Nitro Electric primarily services utility companies and municipalities.

ESOA overpaid for a pipeline company which it has since sold at a loss. In December of 2012, the company emerged from a forbearance agreement, and the company has executed nicely since then, with very high asset turnover >200%, growing EBITDA margins, and annual ROIs >20%.

Valuation

Price to tangible book value: 0.87

EV/EBITDA: 4x

Price to FCF: 7x

TTM dividend yield: 3.6%

The dividend is new as of this year, and is higher than all of the profitable energy service comps I could find. These metrics all indicate an undervalued stock relative to the oil services industry as a whole.

Energy Industry Outlook

I am not an expert on oil or natural gas fields, which is why I prefer to buy an energy services company with significant utility and municipal exposure rather than a pure-play owner of well or pipeline assets. From the research I have done, it seems that while energy prices will likely be lower than the past decade, we may be near the bottom of the industry trough. Marcellus/Utica specifically is established and has cheaper cost of production than other shale fields.

Over the past several years, companies operating within the U.S. energy sector, and in shale particularly, have continuously lowered operating costs. OPEC's recent agreement could further bolster the industry.

Management

ESOA is headed by Douglas Reynolds, the representative of District 17 in the West Virginia House of Delegates, and son of local Huntington business magnate Marshall T. Reynolds.

Since taking the helm at ESOA in December of 2012, Douglas Reynolds has increased tangible book value per share of the company from $0.43 to $1.43/share, a more than 3x increase. ESOA's share price has grown by 150% over the past 4 years, vs. the S&P 500 at 50% and the Russell 2000 at 64%. The CEO has also been modestly buying the stock, and issued this letter to shareholders explaining why he felt shares were presently undervalued.

I am extremely pleased with the improvements that have been made over the last four years with one exception: the under-valued price of our stock. In December of 2012, our stock value fluctuated wildly between $0.50 and $1.00 per share, and rightfully so, as we were under a forbearance agreement and were restructuring our balance sheet. On December 28, 2016, our last trade was at $1.38. This value represents less than the tangible book value per share of $1.58 at September 30, 2016. Our price to earnings ratio is 6.57 at December 28, 2016, and our backlog was $78.5 million at September 30, 2016 compared to $71.3 million at September 30, 2015. Members of the Board and management have been consistent insider buyers of the stock and hope that you will continue supporting us in what is poised to be a great fiscal year 2017."

His father Marshall Reynolds also happens to be the chairman of ESOA and CEO of Champion Industries, a printing company which has not had a great couple of years, but keeps the lights on. Mr. Reynolds also sits on the boards of several banks financing the debt portion of ESOA's capital.

Neither Douglas nor Marshall Reynolds appears to have significant experience in the energy services business. What they do both have is a significant personal stake. Insiders own >30% of the shares and Douglas Reynolds takes a modest salary around $100k/year. I would expect that both Doug and Marshall bring valuable Rolodexes to the business as well, both from local government and business connections. Additionally, they appear to be smart enough to leave the general management of both companies to experienced industry veterans.

Biggest Risks

Customer concentration risk varies by year and project with such a small company, but Marathon Petroleum and EQT Corporation represented >10% of revenue for ESOA in 2016.

The two customers, Marathon Petroleum and EQT, represented 18.2% and 17.6% of revenues and 40.6% and 11.3% of receivables net of retention, respectively. The Company had two customers that exceeded 10.0% of revenues for the year ended September 30, 2015. These two customers, Marathon Petroleum and Rice Energy, represented 14.6% and 22.8% of revenues and 14.5% and 32.6% of receivables net of retention, respectively."

In a sector as wild as energy, accounts receivable write-offs are one way to look for issues with customer payments. Rising write-offs indicate that customers cannot afford to pay their bills. A/R write-offs have been negligible for the past two years. The company wrote off ~$11k in A/R in 2015, which increased slightly to $14k in 2016, on roughly $100m in revenue.

Days sales receivables is a metric which gauges credit risk from customers as well as project completion, with a lower number of days being better. Days sales receivables in the energy services industry ranges between 65-90 days for the largest energy services companies. We should expect a company this small to have higher DSR. Days sales receivables have declined slightly from 112 to 106 days for 2016 and are on track to decline further in 2017 due to sizable project completions in 1Q17.

The biggest A/R customer currently, Marathon, is highly levered, but does not appear to be in danger of bankruptcy in the near future. MRO bonds are trading at or around $100+, signaling that creditors are not worried about Marathon's ability to pay its bills. I could not find much on MRO's breakeven cost in the areas which ESOA services, but according to this, EQT is one of the lowest cost natural gas producers in the Marcellus field. EQT actually seems well positioned to roll up other operators, which could be a good thing for ESOA's backlog. Marathon's outlook seems a bit murkier, but neither EQT nor MRO shows signs of serious financial distress.

All employees of CJ Hughes are union members, which means some collective bargaining risk is baked-in. In total, ESOA employs 920 people. I would expect some pressure on SG&A in the form of wages.

The company's debt schedule shows $9.1m coming due in 2017, which could result in lower FCF compared to 2016. I expect some of the additional debt repayment to be offset by about $1m less in CAPEX; the company purchased a building which Nitro Electric had been leasing in early 2016. The 10-K also mentions that management expects to renew the current line of credit. Given the strong local banking ties and solid balance sheet, I would expect some revolver debt to be rolled over to 2018.

Outlook for 2017 and Beyond

Energy Services of America is well positioned to benefit from any increase in energy or infrastructure investments in the Mid-Atlantic region. The company reported a backlog of $78.5m as of the end of September vs. $71.3m in September of 2015. First quarter is typically when you can get a good idea of the expected annual revenue, but 10% higher y/y backlog sounds encouraging.

Year over year, the company grew revenue by 25.8% in 2015, and 32.5% in 2016, while at the same time improving operating margins and asset turnover. These improvements occurred in spite of a tough 2-year stretch for energy service companies due to the global collapse in oil prices. The company is trading slightly below net tangible book value, and looks cheap relative to cash flow and EBITDA, which are both under 5x. The company also maintains a modest debt/leverage ratio of 2x. I'm not betting on lower tax rates, but ESOA also pays a current effective tax rate >40%. Tax reform would be yuuuuge for this company.

While the company is not the sort to provide detailed guidance, I found the recent 10k management commentary to be interesting:

We were awarded several major projects in fiscal year 2016 that will be completed in the first quarter of fiscal year 2017. We will need to replace those projects in fiscal year 2017, but we feel the opportunities we are already seeing and our strong relationships with our customers will allow us to do so."

The atypical shareholders letter issued on January 4th, and recent insider purchases seem to indicate that management is confident that recent growth and operational trends will continue.

Conclusion

I like nano and micro-cap stocks lately for several reasons.

They tend to be much harder for big investors to put meaningful cash into without significantly moving the share price.
They generally don't have the same tax expertise as Apple (NASDAQ:AAPL) or GE (NYSE:GE), so they stand to benefit inordinately from lower tax rates.
They are often under-followed and consequently mispriced.
Due to an incredibly small market capitalization, ESOA is a difficult company for institutional investors to buy at any scale. The company has shown impressive operation improvements and has strong growth prospects. I believe ESOA is undervalued relative to the business prospects and to peers. The business fundamentals warrant another 2-3x turns in EV/EBITDA, which would put the stock price above $2/share in the short term. A nano-cap penny stock like this should continue to maintain a valuation discount relative to larger names, but I expect management to continue to return capital to shareholders or to achieve an eventual sale of the company. To me, this stock seems like a good long-term buy-and-hold prospect.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
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geodan geodan 7 years ago
ESOA just broke out of 6 Month Cup and handle, pivot was 1.60, 1.61 now
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geodan geodan 7 years ago
ESOA just broke out of CEO letterTEXT

It went over $1.55 for a while today, 1.46 now up 6%


Dear Fellow Shareholder:



For the fiscal year ended September 30, 2016, our company improved on what was previously a record year for each of our subsidiary companies, C.J. Hughes Construction and Nitro Electric Company. To begin, we grew our revenue by $38.7 million to $155.5 million in fiscal year 2016 from $116.8 million in fiscal year 2015. The company performed well on our normal operations along with adding several major projects in fiscal year 2016. This enabled us to earn $6.1 million income before tax in fiscal year 2016 compared to $3.7 million in fiscal year 2015. While recording $2.9 million in tax expense, we exhausted the remaining portion of our federal net operating loss carry forwards during fiscal year 2016. The result was a $2.9 million net income available to common shareholders in fiscal year 2016 compared to $1.8 million in fiscal year 2015. We also earned an adjusted EBITDA of $9.4 million in fiscal year 2016 compared to $7.6 million in fiscal year 2015. Equally important, we paid our company’s first dividend, $0.05 per common share, in June 2016.



Since I became President of Energy Services of America in early December 2012, we have made incredible strides. I have enclosed a balance sheet and income statement from that year for comparison to fiscal year 2016. To start with, we generated almost the same revenue with two companies in fiscal year 2016 compared to three companies in fiscal year 2012. We obviously achieved much better gross profit, but we also only had SG&A expenses of $7.3 million in fiscal year 2016 compared to $12.1 million in fiscal year 2012.



While I have written about purchasing office and fabrication facilities for Nitro Electric and increasing our lines of credit for operating capital and equipment purchases, we nevertheless have reduced our liabilities from $53.3 million at September 30, 2012 to $33.9 million at September 30, 2016. That has resulted in interest savings of over $1.0 million, while at the same time, reducing our vendor financed payables by $4.9 million. Finally, our total stockholders’ equity has increased from $6.4 million at September 30, 2012 to $22.5 million at September 30, 2016.



I am extremely pleased with the improvements that have been made over the last four years with one exception: the under-valued price of our stock. In December of 2012, our stock value fluctuated wildly between $0.50 and $1.00 per share, and rightfully so, as we were under a forbearance agreement and were restructuring our balance sheet. On December 28, 2016, our last trade was at $1.38. This value represents less than the tangible book value per share of $1.58 at September 30, 2016. Our price to earnings ratio is 6.57 at December 28, 2016, and our backlog was $78.5 million at September 30, 2016 compared to $71.3 million at September 30, 2015. Members of the Board and management have been consistent insider buyers of the stock and hope that you will continue supporting us in what is poised to be a great fiscal year 2017.



Sincerely,







Douglas V. Reynolds, President

Energy Services of America









ENERGY SERVICES OF AMERICA CORPORATION

CONSOLIDATED BALANCE SHEETS

As of September 30, 2016 and 2012



2016 2012

Assets
Current assets
Cash and cash equivalents $ 3,815,790 $ 2,661,721
Accounts receivable-trade 24,059,432 18,485,166
Allowance for doubtful accounts (133,500 ) (240,071 )
Retainages receivable 5,810,474 2,477,903
Other receivables 106,837 340,876
Costs and estimated earnings in excess of billings on uncompleted contracts 5,953,818 11,260,254
Deferred tax asset 1,399,152 3,690,409
Prepaid expenses and other 2,485,101 2,026,514
Assets of discontinued operations 12,303 -
Total current assets 43,509,407 40,702,772

Property, plant and equipment, at cost 39,375,505 42,440,135
less accumulated depreciation (26,625,827 ) (23,387,158 )
Total fixed assets 12,749,678 19,052,977

Long-term notes receivable 137,281 -

Total assets $ 56,396,366 $ 59,755,749

Liabilities and shareholders' equity
Current liabilities
Current maturities of long-term debt $ 2,867,898 $ 10,118,907
Lines of credit and short term borrowings 6,232,943 18,516,276
Accounts payable 5,006,427 9,917,085
Accrued expenses and other current liabilities 5,933,571 3,518,481
Billings in excess of costs and estimated earnings on uncompleted contracts 3,410,548 1,368,559
Income tax payable 1,076,440 -
Liabilities of discontinued operations 28,671 -
Total current liabilities 24,556,498 43,439,308

Long-term debt, less current maturities 7,390,099 1,623,771
Long-term debt, payable to shareholder - 1,223,325
Deferred income taxes payable 1,926,077 7,027,980
Total liabilities 33,872,674 53,314,384

Shareholders' equity

Preferred stock, $.0001 par value
Authorized 1,000,000 shares, 206 issued at September 30, 2016 and 0 at September 30, 2012 - -

Common stock, $.0001 par value
Authorized 50,000,000 shares 14,839,836 issued and 14,239,836 outstanding at September 30, 2016 and 14,458,836 issused and outstanding at September 30, 2012 1,484 1,446

Treasury stock, 600,000 shares at September 30, 2016 and 0 shares at September 30, 2012 (60 ) -

Additional paid in capital 61,289,260 56,107,650
Retained earnings (deficit) (38,766,992 ) (49,667,731 )

Total shareholders' equity 22,523,692 6,441,365

Total liabilities and shareholders' equity $ 56,396,366 $ 59,755,749









ENERGY SERVICES OF AMERICA CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

For the years ended September 30, 2016 and 2012



2016 2012

Revenue $ 155,481,145 $ 157,738,736

Cost of revenues 141,283,142 156,056,529

Gross profit 14,198,003 1,682,207

Selling and administrative expenses 7,293,323 12,083,793
Asset impairment - 36,914,021
Income (loss) from operations 6,904,680 (47,315,607 )

Other income (expense)
Interest income - 3,034
Other nonoperating income (expense) (158,246 ) 140,115
Interest expense (875,254 ) (1,931,897 )
Gain on sale of equipment 268,448 45,930
(765,052 ) (1,742,818 )

Income (loss) from continuing operations before income taxes 6,139,628 (49,058,425 )

Income tax expense (benefit) 2,898,205 (536,248 )

Income (loss) from continuing operations 3,241,423 (48,522,177 )

Dividends on preferred stock 309,000 -

Income (loss) from continuing operations available to common shareholders 2,932,423 (48,522,177 )

Income from discontinued operations - -

Net income (loss) available to common shareholders $ 2,932,423 $ (48,522,177 )

Weighted average shares outstanding-basic 14,239,836 14,448,336

Weighted average shares-diluted 17,673,169 14,448,336

Earnings (loss) per share available to common shareholders $ 0.21 $ (3.36 )

Earnings (loss) per share-diluted available to common shareholders $ 0.17 $ (3.36 )









Please see the table below for a reconciliation of adjusted EBITDA for years ending September 30, 2016 and 2015:



2016 2015
(Audited) (Audited)

Net income available to common shareholders $ 2,932,423 $ 1,831,530

Add: Income tax expense 2,898,205 1,570,992

Add: Dividends on preferred stock 309,000 309,000

Add: Interest expense 875,254 761,079

Less: Non-operating (income) expense (110,202 ) (192,730 )

Add: Depreciation expense 2,503,471 3,291,386

Adjusted EBITDA $ 9,408,151 $ 7,571,257
Common shares outstanding 14,239,836 14,239,836
Adjusted EBITDA per common share $ 0.66 $ 0.53



Please see the table below for a reconciliation of tangible book value per share at September 30, 2016:



September 30, 2016

Total assets $ 56,396,366
Less: total liabilities 33,872,674
Less: intangible asset value -
Less: goodwill -
Tangilbe book value 22,523,692
Common shares outstanding 14,239,836
Tangilbe book value per share $ 1.58



Please see the table below for a reconciliation of the price to earnings ratio at December 28, 2016:



Closing share price at December 28, 2016 $ 1.38
Fiscal year 2016 earnings per share 0.21
Price to earnings ratio at December 28, 2016 6.57




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geodan geodan 7 years ago
ESOV-Bot more in IRAs,Gem For IRAS

Income StatementAll numbers in thousands
Revenue ........9/30/2016 6/30/2016 3/31/2016 12/31/2015
Total Revenue 49,731.058 43,370.975 28,005.021 34,374.091
Cost of Revenue 44,846.96 39,391.42 26,310.312 30,734.45
Gross Profit 4,884.098 3,979.555 1,694.709 3,639.641

Revenue up $15 million in last 4 Qs and ESOV sells for only .12 Price/Sales in prior year.

With $19 million market cap and current $200,000,000 Sales run rate, its now about 0.09 Price Sales, wow!

And .10 Dividend yielding 7.3% per year, another wow. Put more of it in my IRAs.
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geodan geodan 7 years ago
ESOV Just about everything is right,especially4anIRA

I recent find. ESOV is about 3 EV/EBITDA 8 P/E and has a 7% divvy and is growing. They do natgas pipeline in eastern USA

Valuation Measures
Market Cap (intraday)5: 19.22M
Enterprise Value (Dec 23, 2016)3: 31.90M
Trailing P/E (ttm, intraday): 8.13
Forward P/E (fye Sep 30, 2018)1: N/A
PEG Ratio (5 yr expected)1: N/A
Price/Sales (ttm): 0.12
Price/Book (mrq): 0.85
Enterprise Value/Revenue (ttm)3: 0.21
Enterprise Value/EBITDA (ttm)6: 3.39

Energy Services of America Corporation provides contracting services for energy related companies in the United States. It constructs, replaces, and repairs interstate and intrastate natural gas pipelines and storage facilities for utility companies and private natural gas companies; and provides services relating to pipeline, storage facilities, and plant work for the oil industry. The company also offers a range of electrical and mechanical installation, and repair services, including substation and switchyard, site preparation, equipment setting, pipe fabrication and installation, packaged buildings, transformers, and other ancillary works for the power, chemical, and automotive industries. In addition, it provides liquid pipeline and pump station construction, production facility construction, water and sewer pipeline installations, various maintenance and repair services, and other services related to pipeline construction. The company serves customers primarily in West Virginia, Virginia, Ohio, Pennsylvania, and Kentucky. Energy Services of America Corporation was founded in 2006 and is based in Huntington, West Virginia.

The 2 top guys only take $100k ish salaries.

The last 4Qs has great rev growth https://ca.finance.yahoo.com/q/is?s=ESOA and also the last 3 years too.

Looks great opened new position in it. IRAs do not have to worry about paying taxes on the big Divvy.
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Immie Immie 9 years ago
1.29 x 1.34
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Immie Immie 9 years ago
10:00 am ET December 2, 2015 (PR Newswire) Print
Energy Services of America (the "Company") (OTCPink: ESOA), parent company of C.J. Hughes Construction Company and Nitro Electric Company, announced today revenue of $116.8 million for the fiscal year ended September 30, 2015. Gross margin and income from operations were $10.9 million and $4.3 million, respectively for fiscal year 2015. Net income available to common shareholders, which included estimated tax expense of $1.6 million, was $1.8 million for the fiscal year ended September 30, 2015. The Company projects EBITDA of $7.6 million, or $0.53 per share, and earnings per share of $0.13 on 14,239,836 common shares outstanding for fiscal year 2015. The projected backlog at September 30, 2015 was $71.3 million.
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Immie Immie 9 years ago
1.18 x 1.25
πŸ‘οΈ0
Immie Immie 9 years ago
Energy Services of America Releases Earnings For Fiscal 2015

10:00 am ET December 2, 2015 (PR Newswire) Print
Energy Services of America (the "Company") (OTCPink: ESOA), parent company of C.J. Hughes Construction Company and Nitro Electric Company, announced today revenue of $116.8 million for the fiscal year ended September 30, 2015. Gross margin and income from operations were $10.9 million and $4.3 million, respectively for fiscal year 2015. Net income available to common shareholders, which included estimated tax expense of $1.6 million, was $1.8 million for the fiscal year ended September 30, 2015. The Company projects EBITDA of $7.6 million, or $0.53 per share, and earnings per share of $0.13 on 14,239,836 common shares outstanding for fiscal year 2015. The projected backlog at September 30, 2015 was $71.3 million.

Douglas Reynolds, President, commented on the announcement: "We are very pleased with our earnings for fiscal year 2015. We increased revenues and income from continuing operations before tax by $23.5 million and $2.4 million, respectively, compared to fiscal year 2014. Also, the $71.3 million backlog entering fiscal year 2016 is a $19.5 million increase over the $51.8 million backlog entering fiscal year 2015. We expect to continue building on the past three year's success in fiscal year 2016."

Below is a comparison of the Company's unaudited operating results for fiscal year 2015 compared to fiscal year 2014:

Twelve Months Ended Twelve Months Ended
September 30, 2015 September 30, 2014
(Unaudited) (Audited)
Revenue $ 116,800,046 $ 93,273,139
Gross profit 10,864,205 8,511,218
Income from operations 4,279,871 2,155,609
Income from continuing operations before income taxes 3,711,522 1,360,719
Income tax expense (benefit) 1,597,332 (2,342,244)
Income from continuing operations 2,114,190 3,702,963
Dividends on preferred stock 309,000 386,250
Income from continuing operations
available to common shareholders 1,805,190 3,316,713
Income (loss) from discontinued operations
net of tax expense 26,340 (54,766)
Net income available to common shareholders $ 1,831,530 $ 3,261,947
Please refer to the table below that reconciles EBITDA and EBITDA per share:

Twelve Months Ended Twelve Months Ended
September 30, 2015 September 30, 2014
(Unaudited) (Audited)
Revenue $ 116,800,046 $ 93,273,139
Cost of revenues 105,935,841 84,761,921
Gross margin 10,864,205 8,511,218
Selling and administrative expenses 6,584,334 6,355,609
Income from operations 4,279,871 2,155,609
Depreciation expense 3,291,386 3,384,504
EBITDA $ 7,571,257 $ 5,540,113
Common shares outstanding 14,239,836 14,239,836
EBITDA per common share $ 0.53 $ 0.39
Certain statements contained in the release, including without limitation statements including 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 and other factors referenced in this release. 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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/energy-services-of-america-releases-earnings-for-fiscal-2015-300186481.html

SOURCE Energy Services of America Corporation
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9HikeDiscGolf 9HikeDiscGolf 10 years ago
Energy Services of America Corp. (ESOA: OTCQB) | Piggyback Qualified

Sun, Apr 13, 2014 12:00 - Energy Services of America Corp. (ESOA: OTCQB) - Piggyback Qualified - Effective Sun, Apr 13, 2014, ESOA is designated with the status of piggyback qualified. Piggyback qualification allows market participants, in addition to the original 211 form filer, to quote the respective security. You may find a complete list of piggyback qualifications at otcmarkets.com.

www.stockalyzing.com/pink-otc-market-news.html

IMO
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