Energy Services of America reported trailing 12-month revenue of $467 million, up from $411 million in fiscal 2025 and $120 million in fiscal 2020, as the company shifted from gas transmission toward regulated utility services and industrial maintenance contracts.
At the 17th Annual Midwest IDEAS Conference on August 27, 2026, CEO Doug Reynolds and CFO Charles Crimmel highlighted the company’s growth trajectory, noting that acquisitions contributed roughly $75 million to revenue. Organic expansion included the development of an in-house general contractor, Nitro Construction, which grew from $50 million–$55 million to $140 million–$150 million by adding new construction to its maintenance base.
The company’s EBITDA rose to $33 million in the trailing 12 months, representing a 7.2% margin, compared with $17 million (4.2% margin) in fiscal 2025. Management set a target of 10% EBITDA margins, though Reynolds noted a potential interim outcome of 9% margins at a $700 million revenue level.
ESOA’s backlog totaled $286 million, including $216 million in project-specific contracts, with approximately $200 million expected to be realized within 12 months. Maintenance and blanket contracts accounted for the remaining $70 million. The company’s bonding capacity stands at $400 million with Philadelphia Insurance, while total debt, including current portions, ranges from $25 million to $30 million following a $30 million two-year credit facility.
The company raised roughly $22 million in February 2025 and increased its quarterly dividend from $0.03 to $0.04 per share in June 2025, equating to an annual run rate of $0.16. Capital expenditures are projected to remain between $8 million and $12 million annually. ESOA’s stock closed at $11.56, within a 52-week range of $7.84 to $19.94, after trading near $7–$8 about 10 months prior and near $20 several months earlier.
