Energy Services of America (ESOA) Company Report

Energy Services of America (ESOA) CEO Doug Reynolds noted the stock recently dropped to $8.60 from $12 three weeks prior, presenting a potential buying opportunity.
The company reported $350 million in revenue and $28 million in EBITDA for the last year (FY 2024). Backlog has grown significantly from $70 million to $300 million as of June 30th of this year, with approximately 90% expected to be completed within the next twelve months.
ESOA has made two recent acquisitions: a $40 million water and wastewater contractor (Tribute, acquired last December) and Rigni Digital (HVAC controls, acquired last quarter). The company also pays $0.03 a quarter in dividends and engages in opportunistic stock buybacks.
Management aims to achieve EBITDA margins above 10% in the next couple of years and projects revenue to exceed $500 million with over 10% EBITDA margins within five years.
The biggest challenge identified by management is the shortage of skilled labor.

Nov 20, 2025, 9:20 PM

Energy Services of America (ESOA) Discusses Financial Performance, Strategic Growth, and Future Outlook

ESOA

Guidance Update

M&A

New Projects/Investments

Energy Services of America (ESOA) reported $350 million in revenue and $28 million in EBITDA for the last year, though the last twelve months were "a little more challenging" due to unusual weather and other issues.
The company's backlog grew significantly from $70 million to $300 million as of June 30th of this year, primarily driven by water and general services, with approximately 90% expected to be completed within the next twelve months.
ESOA completed two acquisitions in the last year, including Rigni Digital (HVAC controls) with expected 20%+ EBITDA margins, and aims to achieve overall EBITDA margins above 10% in the next couple of years.
The company pays $0.03 per quarter in dividends and conducts opportunistic share buybacks when its stock is below $9. ESOA projects a five-year outlook of over $500 million in revenue and over 10% EBITDA margins.

Nov 20, 2025, 9:20 PM

Energy Services of America Updates on Business and Financials

ESOA

M&A

Dividends

Guidance Update

Energy Services of America (ESOA) operates as an infrastructure business, primarily focusing on water and natural gas distribution, natural gas transmission, and electrical/mechanical services, distinct from oil and gas field services.
The company reported $350 million in revenue and $28 million in EBITDA for the last year (implied FY 2024) and increased its backlog from $70 million to $300 million as of June 30, 2025.
ESOA has a five-year outlook targeting over $500 million in revenue and over 10% EBITDA margins, with core businesses projected to achieve low double-digit organic growth.
Recent strategic moves include two acquisitions, notably Rigney Digital (HVAC controls, contributing $4 million in revenue with 20%+ EBITDA margins), and the company maintains a $0.03 quarterly dividend while engaging in opportunistic stock buybacks.
A primary challenge identified by management is the shortage of skilled labor, which they believe hinders their ability to significantly expand the business.

Nov 20, 2025, 9:20 PM

ESOA: Hitachi Energy and Grid United Announce Key Milestone for North Plains Connector

ESOA

New Projects/Investments

Hitachi Energy and Grid United have established an Engineering Services Agreement (ESA) for the North Plains Connector (NPC), an interregional transmission system, marking the next phase of their collaboration to strengthen transmission capacity between the Eastern and Western U.S. grids.
The NPC is a 420-mile high-voltage direct current (HVDC) system, operating at ±525 kilovolts (kV), designed to transport up to 3,000 megawatts (MW) of electricity between Montana and North Dakota.
This project aims to address increasing energy demand driven by AI data center growth and industrial electrification, and will be the first transmission system connecting three major U.S. energy markets (MISO, SPP, and WECC).
Under the ESA, Hitachi Energy will provide early-stage engineering services, including technical specifications for the HVDC converter stations, to reduce project risk and accelerate execution.

Oct 2, 2025, 1:02 PM

Energy Services of America Subsidiary Completes Rigney Digital Systems Acquisition

ESOA

M&A

New Projects/Investments

Energy Services of America Corporation's (ESOA) subsidiary, Nitro Construction Services, Inc., completed the acquisition of Rigney Digital Systems Ltd Co. on September 30, 2025.
Rigney Digital Systems, a regional leader in HVAC control systems, will maintain its brand identity, staff, and client relationships.
The acquisition expands Nitro Construction's expertise in building technology.
The purchase price for Rigney Digital Systems included $3.0 million in cash, $1.0 million of Energy Services' common stock, and a $500,000 sellers' note.

Sep 30, 2025, 8:31 PM

Energy Services of America Corp Provides Business Update

ESOA

M&A

Dividends

Guidance Update

Energy Services of America (ESOA) reported $352 million in revenue and $29 million in adjusted EBITDA for its last fiscal year, ending September 30. As of June, the company's backlog stood at $304 million.
The company was added to the Russell 2000 in June and has been actively pursuing mergers and acquisitions, having completed approximately four acquisitions, including Tribute Contracting in December 2024.
ESOA provides shareholder returns through a quarterly dividend of 3 cents per share and has an active stock repurchase plan with approximately 786,000 shares remaining.
The company's fiscal second quarter was impacted by inclement weather and customer spending delays, particularly in gas transmission projects, which hindered profitability and EBITDA margin. ESOA aims to grow its water distribution services significantly.

Aug 27, 2025, 3:20 PM

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