Energy Services of America reported its fourth quarter and full fiscal year results ended September 30, 2024, on December 16, 2024. For the fourth quarter, total revenues were $104.7 million, with gross profit at $17.6 million, up from $16.0 million in the prior year. Net income for the quarter was $6.7 million, or $0.40 per diluted share, compared to $5.7 million, or $0.34 per diluted share, in the prior-year quarter.
For the full fiscal year 2024, total revenues increased by 15.7% to $351.9 million, up from $304.1 million in fiscal 2023. Gross profit rose by 36% to $50.0 million, resulting in a gross margin of 14.2%. Net income for the year was $25.1 million, or $1.51 per diluted share, which included approximately $11.4 million, or $0.69 per diluted share, from a legal judgment.
The company's backlog stood at $243.2 million as of September 30, 2024, an increase from $229.8 million in the prior year. President Doug Reynolds noted optimism for fiscal 2025, citing tailwinds from Infrastructure and Jobs Act funds and the recent Tribute acquisition. Selling and administrative expenses increased to $8.8 million for the quarter and $30.1 million for the year, primarily due to additional personnel hired for expected growth.
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