Energy Services of America reported its fiscal first quarter results ended December 31, 2024, on February 10, 2025. Total revenues for the period increased to $100.6 million, up from $90.2 million in the prior-year quarter, driven by growth in Gas & Water Distribution and Electrical, Mechanical, and General business lines.
However, gross profit decreased to $10.3 million from $10.8 million in the prior-year quarter, with gross margin falling to 10.2% from 12.0%. Net income for the quarter was $854,000, or $0.05 per diluted share, a decline from $2.0 million, or $0.12 per diluted share, in the first quarter of fiscal 2024.
President Doug Reynolds attributed the impact on profitability to weather and project timing within the Gas & Water Distribution business lines. The company's backlog increased sequentially and year-over-year to $260.2 million as of December 31, 2024, reflecting strong demand and infrastructure spending.
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