Energy Services of America (ESOA) Q4 2025 earnings summary

Executive summary

• Achieved 16.8% annual revenue growth and recorded the highest quarterly revenue in company history for Q4 2025.

• Full-year profitability was negatively impacted by unfavorable winter weather, delaying multiple projects.

• Acquired Tribute Contracting & Consultants and Rigney Digital Systems, expanding service offerings.

• Added to the Russell 2000 index and doubled the dividend rate, converting to quarterly payments.

Financial highlights

• Q4 2025 revenue was $130.1 million, up from $104.7 million year-over-year; full-year revenue reached $411.0 million, up from $351.9 million.

• Q4 gross profit was $16.5 million (12.6% margin), down from $17.6 million (16.8% margin); full-year gross profit was $38.8 million (9.4% margin), down from $50.0 million (14.2% margin).

• Q4 net income was $4.2 million ($0.25 per diluted share), down from $6.7 million ($0.40 per share); full-year net income was $380,000 ($0.02 per share), down from $25.1 million ($1.51 per share), with prior year including $11.4 million from a legal judgment.

• Adjusted EBITDA for Q4 was $11.3 million, up slightly from $11.1 million; full-year Adjusted EBITDA was $17.2 million, down from $28.8 million.

• Backlog as of September 30, 2025 was $259.7 million, up from $243.2 million a year earlier.

Outlook and guidance

• Fiscal 2026 outlook remains favorable, with strong demand in water, wastewater, and increased activity in gas transmission.

• Recent acquisitions expected to enhance service offerings and margin profile.

• Management remains optimistic and plans to pursue further acquisitions for long-term value.