ESOA News & Events

The deal priced below last closing price of $14.38. Lake Street Capital Markets, LLC is serving as the sole underwriter for the offering.

Energy Services of America Corporation announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The company plans to use the net proceeds from the offering for general corporate purposes, working capital and for potential acquisitions. The company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction. Lake Street Capital Markets is serving as the sole underwriter for the offering.

Reports Q4 revenue $130.1M vs. $104.7M last year. "Fiscal 2025 was a year of meaningful growth for the Company, primarily driven by demand within our Gas & Water Distribution segment and our acquisition of Tribute last December," said Doug Reynolds, President of Energy Services. "Full-year profitability was negatively impacted by very unfavorable winter weather, but we continue to execute on these delayed projects. We believe the outlook for Fiscal 2026 remain very favorable. We continue to experience strong demand within the water and wastewater segment as municipalities and private utility companies are replacing and upgrading older systems and our Electrical, Mechanical and General segment are benefiting from increased construction and service opportunities. Our recent acquisition of Rigney Digital Systems enhances the services offered by Nitro Construction and should boost the margin profile for the segment. Also, we are beginning to see a pickup in activity within our Gas Transmission over the past year. Overall, we remain optimistic about the prospects of the business and will continue to be opportunistic with regards to acquisitions, which should deliver long-term value to our shareholders."

Energy Services of America subsidiary Nitro Construction Services has entered into an Asset Purchase Agreement with Rigney Digital Systems, a regional leader in HVAC control systems located in Hurricane, West Virginia. Rigney Digital Systems, founded in 2000, designs, installs and services advanced HVAC control systems. Under the new ownership, Rigney will maintain its brand identity, staff, and client relationships, while benefiting from Nitro Construction's resources and support. The purchase expands Nitro's expertise in building technology while allowing Rigney to continue operating under its name. Rigney Digital Systems will remain a distinct operation within the Nitro Construction family.