Energy Services of America Corporation
- Open
- 19.12
- Day high
- 19.50
- Day low
- 18.87
- Prev close
- 19.11
- Volume
- 89K
- Mkt cap
- $361M
- P/E (TTM)
- 35.0
- EPS (TTM)
- $0.55
- P/B
- 4.4
- P/S
- 0.8
- Yield
- 0.83%
- Per share
- $0.16
- ▼Insiders net selling -$3.7M over the last 3 months (2 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Energy Services of America Corporation (ESOA) is a Industrials company listed on NASDAQ. The stock is up 95% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 5 sales (SEC Form 4).
Energy Services of America Corporation (ESOA) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ESOA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | $-0.16 | $0.01 | +106.3% | $93M | +15.2% |
| Dec 9, 2025 | $0.38 | $0.25 | -34.2% | $130M | +19.1% |
| Dec 16, 2024 | $0.12 | $0.40 | +233.3% | $105M | +22.7% |
| May 8, 2024 | $0.09 | $-0.07 | -177.8% | $71M | -3.1% |
| Feb 12, 2024 | $0.09 | $0.12 | +33.3% | $90M | +84.0% |
| Dec 18, 2023 | $0.09 | $0.34 | +277.8% | $105M | +49.8% |
| Aug 14, 2023 | $0.07 | $0.21 | +200.0% | $86M | +22.2% |
| May 31, 2023 | — | $0.01 | — | $60M | — |
| Aug 15, 2022 | — | $0.10 | — | $51M | — |
| May 12, 2022 | — | $-0.04 | — | $35M | -10.5% |
| Feb 11, 2022 | — | $0.07 | — | $43M | +7.8% |
| Dec 9, 2021 | — | $0.10 | — | $40M | -0.0% |
ESOA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | REYNOLDS MARSHALL Tdirector | Sell | 64,942 | $15.70 |
| Jun 2, 2026 | REYNOLDS MARSHALL Tdirector | Sell | 35,058 | $14.98 |
| May 28, 2026 | Prince Markdirector | Sell | 33,000 | $17.80 |
| May 28, 2026 | REYNOLDS MARSHALL Tdirector | Sell | 56,757 | $17.19 |
| May 28, 2026 | REYNOLDS MARSHALL Tdirector | Sell | 43,243 | $16.32 |
| Mar 23, 2026 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Buy | 4,809 | $13.26 |
| Mar 23, 2026 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Buy | 1,500 | $13.04 |
| Jan 30, 2026 | Crimmel Charles P.officer: Chief Financial Officer | Tax | 521 | — |
| Jan 30, 2026 | Crimmel Charles P.officer: Chief Financial Officer | Grant | 2,781 | — |
| Dec 23, 2025 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Buy | 2,500 | $8.65 |
| Dec 23, 2025 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Tax | 3,251 | — |
| Dec 23, 2025 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Buy | 2,600 | $8.35 |
| Dec 23, 2025 | REYNOLDS DOUGLAS Vdirector, 10 percent owner, officer: President | Buy | 4,000 | $8.07 |
| Dec 18, 2025 | REYNOLDS MARSHALL Tdirector | Sell | 100,000 | $8.37 |
| May 20, 2025 | Crimmel Charles P.officer: Chief Financial Officer | Buy | 500 | $9.40 |
Source: ESOA SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full ESOA insider & 13F page →Energy Services of America Corporation company profile
Overview
Energy Services of America Corporation (NASDAQ:ESOA) is a specialized contracting company that provides infrastructure services to the energy sector. Founded and incorporated in 2006, the company went public the same year and is headquartered in Huntington, West Virginia. ESOA operates primarily in the Appalachian region, serving utility companies and energy-related businesses across West Virginia, Virginia, Ohio, Pennsylvania, and Kentucky. The company has established itself as a regional player in the energy infrastructure construction and maintenance sector, focusing on natural gas pipeline systems and related electrical and mechanical installations.
Business
Energy Services of America operates in the energy infrastructure construction industry, specifically focusing on natural gas pipeline construction and utility infrastructure services. The company's core business revolves around building, maintaining, and repairing the critical infrastructure that transports natural gas from production sites to end users. The company's primary service offerings include interstate and intrastate natural gas pipeline construction, which involves laying underground pipes that carry natural gas across state lines or within individual states. These pipelines are essential components of America's energy infrastructure, connecting natural gas production areas to distribution networks that serve homes, businesses, and power plants. ESOA also constructs and maintains natural gas storage facilities, which are underground reservoirs that store natural gas during periods of low demand and release it when consumption increases. Beyond pipeline work, ESOA provides comprehensive electrical and mechanical installation services for energy facilities. This includes constructing electrical substations and switchyards, which are critical components that control the flow of electricity in power grids. The company also handles site preparation, equipment installation, pipe fabrication, and the construction of packaged buildings that house control equipment. These services extend beyond the natural gas sector to include petroleum, chemical, water and sewer, and automotive industries. Additional services include liquid pipeline construction for transporting petroleum products, pump station construction that moves liquids through pipelines, production facility construction for energy companies, and various maintenance and repair services. The company essentially serves as a specialized contractor that handles the complex engineering and construction challenges associated with energy infrastructure projects.
Revenue model
Energy Services of America generates revenue through project-based contracting services, operating on a fee-for-service business model. The company's primary customers are utility companies, private natural gas companies, and other energy-related businesses that need specialized infrastructure construction and maintenance services. Revenue is typically generated through fixed-price contracts for specific projects, with payment schedules tied to project milestones and completion. The company's financial performance is heavily influenced by several key factors. Energy sector capital expenditure cycles represent the most significant driver, as utility companies and energy firms increase or decrease infrastructure spending based on regulatory requirements, system expansion needs, and available capital. Natural gas demand growth in the Appalachian region, driven by shale gas production, has historically supported strong project activity. Seasonal factors significantly impact operations, with winter months typically showing reduced construction activity due to weather conditions, while spring and summer periods see increased project execution. This seasonality creates natural fluctuations in quarterly revenue and cash flow patterns. Regulatory environment changes can substantially affect demand for services. Environmental regulations requiring pipeline upgrades or replacements, safety mandates from agencies like PHMSA (Pipeline and Hazardous Materials Safety Administration), and utility rate case approvals all influence the volume of available projects. Additionally, commodity price volatility affects customer spending patterns, as higher natural gas prices generally encourage infrastructure investment while low prices may delay capital projects. Competition and labor availability impact profit margins, as the specialized nature of pipeline construction requires skilled workers who may be in short supply during peak construction periods. Material costs, particularly for steel pipe and specialized equipment, can significantly affect project profitability, especially on fixed-price contracts where cost overruns cannot be passed to customers.
Competitive moat
Energy Services of America operates in a business with limited competitive moats, though it does possess some regional advantages. The company's primary competitive position stems from its specialized expertise and regional market presence in the Appalachian area, where it has developed long-standing relationships with utility companies and energy firms over nearly two decades of operation. The company benefits from regulatory barriers and certification requirements that create some entry obstacles for new competitors. Pipeline construction requires specialized licenses, safety certifications, and compliance with strict federal and state regulations. ESOA's established track record with regulatory agencies and existing certifications provide some protection against new entrants who would need to invest significant time and resources to achieve similar standing. However, the company's moat is relatively weak compared to businesses with stronger competitive advantages. The pipeline construction industry is fragmented with numerous regional and national competitors, and switching costs for customers are relatively low. Large national contractors can compete for major projects, while smaller regional players can bid on local work. The company lacks proprietary technology, exclusive contracts, or significant economies of scale that would create sustainable competitive advantages. Geographic concentration presents both an advantage and vulnerability. While ESOA's regional focus allows for operational efficiency and customer relationship depth, it also exposes the company to regional economic downturns and limits growth opportunities. The company's small size relative to national competitors may restrict its ability to bid on larger projects that require substantial bonding capacity or equipment resources. The most significant competitive threat comes from larger national contractors who can leverage greater financial resources, equipment fleets, and bonding capacity to compete for major projects. Additionally, the cyclical nature of energy infrastructure spending means that during down cycles, competition intensifies as contractors compete for a smaller pool of available projects, potentially pressuring margins across the industry. Energy Services of America operates in a business with limited competitive moats, though it does possess some regional advantages. The company's primary competitive position stems from its specialized expertise and regional market presence in the Appalachian area, where it has developed long-standing relationships with utility companies and energy firms over nearly two decades of operation. The company benefits from regulatory barriers and certification requirements that create some entry obstacles for new competitors. Pipeline construction requires specialized licenses, safety certifications, and compliance with strict federal and state regulations. ESOA's established track record with regulatory agencies and existing certifications provide some protection against new entrants who would need to invest significant time and resources to achieve similar standing. However, the company's moat is relatively weak compared to businesses with stronger competitive advantages. The pipeline construction industry is fragmented with numerous regional and national competitors, and switching costs for customers are relatively low. Large national contractors can compete for major projects, while smaller regional players can bid on local work. The company lacks proprietary technology, exclusive contracts, or significant economies of scale that would create sustainable competitive advantages. Geographic concentration presents both an advantage and vulnerability. While ESOA's regional focus allows for operational efficiency and customer relationship depth, it also exposes the company to regional economic downturns and limits growth opportunities. The company's small size relative to national competitors may restrict its ability to bid on larger projects that require substantial bonding capacity or equipment resources. The most significant competitive threat comes from larger national contractors who can leverage greater financial resources, equipment fleets, and bonding capacity to compete for major projects. Additionally, the cyclical nature of energy infrastructure spending means that during down cycles, competition intensifies as contractors compete for a smaller pool of available projects, potentially pressuring margins across the industry.
Risks & safety
Energy Services of America presents moderate financial risk with concerning recent performance trends, though the company maintains adequate liquidity for near-term operations. • Cash and Liquidity: Current cash position of $9.9 million as of Q2 2025, down from $20.3 million in Q1 2025, indicating rapid cash burn. Current ratio of 1.31x provides modest working capital cushion. • Debt and Solvency: Debt-to-equity ratio of 0.42x represents manageable leverage levels. Total liabilities of $116.4 million against $170.2 million in assets shows reasonable balance sheet structure. • Profitability Concerns: Recent quarterly loss of $6.8 million and negative EBITDA of $8.1 million in Q2 2025 represents significant deterioration from profitable FY 2024 performance ($25.1 million net income). • Valuation Metrics: Trading at negative P/E ratio due to recent losses. Price-to-book ratio of 2.94x appears elevated given current unprofitability. EV/EBITDA metrics are distorted by negative EBITDA. • Cash Flow Volatility: Free cash flow of $4.2 million in Q2 2025 despite operating losses suggests working capital benefits, but sustainability is questionable given negative operating performance. • Other Considerations: Small market capitalization of $184 million creates liquidity constraints and limits access to capital markets during stress periods. Seasonal business patterns may explain some recent weakness, but trend requires monitoring.
Recent development
Based on the available financial data, Energy Services of America has experienced significant operational volatility over recent years, with performance swinging from strong profitability to recent losses. The company achieved its strongest performance in FY 2024, generating $352 million in revenue and $25.1 million in net income, representing substantial growth from the $197 million revenue and $3.9 million net income reported in FY 2022. The company's revenue trajectory shows meaningful expansion, with FY 2024 revenue increasing 78% compared to FY 2022, suggesting successful project execution and market share gains during the period. This growth likely reflects increased natural gas infrastructure investment in the Appalachian region and the company's ability to secure larger or more numerous contracts. However, recent quarterly performance indicates potential challenges, with Q2 2025 showing a significant downturn including negative EBITDA of $8.1 million and net losses of $6.8 million. This represents a sharp reversal from the profitable operations throughout FY 2024, when the company generated positive EBITDA in each quarter. The company's cash management has shown improvement over the longer term, with operating cash flow strengthening from $8.3 million in FY 2022 to $18.7 million in FY 2024, though recent quarters show more volatility. Free cash flow generation has been positive in most periods, indicating the company's ability to generate cash from operations while maintaining necessary capital investments. Without detailed earnings call transcripts, specific strategic initiatives or new service offerings cannot be identified, but the financial performance suggests the company has successfully scaled operations during favorable market conditions while facing recent operational challenges that may reflect seasonal factors, project timing, or broader market conditions affecting the energy infrastructure sector.
ESOA company profile · for informational purposes only — not investment advice.
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