Energy Services of America CORP Files 10-Q for Period Ending 2023-12-31

TL;DR

<b>Energy Services of America CORP filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

Energy Services of America CORP (ESOA) filed a Quarterly Report (10-Q) with the SEC on February 12, 2024. Filing is a 10-Q for Energy Services of America CORP, filed on 2024-02-12. The reporting period covered is the quarter ending December 31, 2023. The company's SIC code is 1623 for Water, Sewer, Pipeline, Comm and Power Line Construction. Incorporated in Delaware with fiscal year end on September 30. Business and mailing address is 75 West 3rd Ave., Huntington, WV 25701.

Why It Matters

For investors and stakeholders tracking Energy Services of America CORP, this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the most recent fiscal quarter. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: low — Energy Services of America CORP shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue drivers and operational performance.

Key Numbers

• 2023-12-31 — Conformed Period of Report (Reporting period end date)
• 2024-02-12 — Filed As Of Date (Date the filing was submitted)
• 1623 — Standard Industrial Classification (Industry classification code)
• DE — State of Incorporation (State where the company is incorporated)
• 0930 — Fiscal Year End (The end date of the company's fiscal year)

Key Players & Entities

• Energy Services of America CORP (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-12 (date) — Filed as of date
• 1623 (industry_code) — Standard Industrial Classification
• DE (state) — State of Incorporation
• 0930 (date) — Fiscal year end
• 75 WEST 3RD AVE. (address) — Business address street 1
• HUNTINGTON (city) — Business address city

FAQ

Industry Context

Energy Services of America CORP operates in the construction sector, specifically focusing on water, sewer, pipeline, and power line construction.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q).

What Investors Should Do

1. Analyze the company's financial statements for the quarter ending December 31, 2023.
2. Examine any disclosures related to contracts, revenue recognition, or operational segments.
3. Compare current quarter performance with historical data to identify trends.

Year-Over-Year Comparison

This is a 10-Q filing, which is a standard quarterly report. No prior filing data is available in this extract for comparison.

Key Financial Figures

• $0.0001 — ch Registered Common Stock, Par Value $0.0001 ESOA The Nasdaq Stock Market LLC

Filing Documents

• esoa-20231231x10q.htm (10-Q) — 1752KB
• esoa-20231231xex31d1.htm (EX-31.1) — 13KB
• esoa-20231231xex31d2.htm (EX-31.2) — 13KB
• esoa-20231231xex32.htm (EX-32) — 7KB
• 0001410578-24-000038.txt (&nbsp;) — 7279KB
• esoa-20231231.xsd (EX-101.SCH) — 53KB
• esoa-20231231_cal.xml (EX-101.CAL) — 62KB
• esoa-20231231_def.xml (EX-101.DEF) — 126KB
• esoa-20231231_lab.xml (EX-101.LAB) — 389KB
• esoa-20231231_pre.xml (EX-101.PRE) — 270KB
• esoa-20231231x10q_htm.xml (XML) — 1512KB

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): Consolidated Balance Sheets 2 Consolidated Statements of Income 3 Consolidated Statements of Cash Flows 4 Consolidated Statements of Changes in Shareholders' Equity 5 Notes to Unaudited Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

: Other Information

Part II: Other Information

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Exhibits

Item 6. Exhibits 39

Signatures

Signatures 40 1 Table of Contents Part 1. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): Energy Services of America Corporation Consolidated Balance Sheets December 31, September 30, 2023 2023 Assets Current assets Cash and cash equivalents $ 11,255,020 $ 16,431,572 Accounts receivable-trade 43,217,068 51,219,958 Allowance for doubtful accounts ( 51,063 ) ( 51,063 ) Retainages receivable 9,691,713 7,589,749 Other receivables 1,221,330 516,968 Contract assets 21,795,592 15,955,220 Prepaid expenses and other 2,687,286 3,520,178 Total current assets 89,816,946 95,182,582 Property, plant and equipment, at cost 85,900,210 84,329,349 less accumulated depreciation ( 49,618,944 ) ( 47,799,840 ) Total fixed assets 36,281,266 36,529,509 Right-of-use assets-operating lease 2,917,341 3,326,405 Intangible assets, net 3,274,957 3,383,099 Goodwill 4,087,554 4,087,554 Total assets $ 136,378,064 $ 142,509,149 Liabilities and shareholders' equity Current liabilities Current maturities of long-term debt $ 6,726,605 $ 6,107,277 Lines of credit and short term borrowings 14,909,464 19,847,470 Current maturities of operating lease liabilities 1,229,348 1,075,815 Accounts payable 22,262,695 22,026,639 Accrued expenses and other current liabilities 11,575,093 13,103,944 Contract liabilities 17,663,714 17,743,001 Total current liabilities 74,366,919 79,904,146 Long-term debt, less current maturities 17,030,429 18,870,529 Long-term operating lease liabilities, less current maturities 1,691,185 2,274,975 Deferred tax liability 7,652,378 6,870,510 Total liabilities 100,740,911 107,920,160 Shareholders' equity Common stock, $ .0001 par value Authorized 50,000,000 shares, 17,885,615 issued and 16,567,185 outstanding at December 31, 2023 and September 30, 2023 1,789 1,789 Treasury stock, 1,318,430 shares at December 31, 2023 and September 30, 2023 ( 132 ) ( 132 ) Additional paid in capit

View Full Filing

View this 10-Q filing on SEC EDGAR