Energy Services of America Q2 2024 10-Q Filed

TL;DR

ESOA filed its 10-Q for Q2 2024, showing equity details. All good.

AI Summary

Energy Services of America Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial activities including common stock, additional paid-in capital, and treasury stock transactions for various periods in 2023 and 2024. Specific dollar amounts and dates for these equity components are provided within the report.

Why It Matters

This filing provides a snapshot of Energy Services of America's equity structure and changes, which is crucial for investors to understand the company's financial health and capital management.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-08-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Energy Services of America CORP (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240812 (date) — Filing date
• 0001357971 (company) — Central Index Key for Energy Services of America CORP

FAQ

Key Financial Figures

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

Filing Documents

• esoa-20240630x10q.htm (10-Q) — 2444KB
• esoa-20240630xex31d1.htm (EX-31.1) — 12KB
• esoa-20240630xex31d2.htm (EX-31.2) — 13KB
• esoa-20240630xex32.htm (EX-32) — 8KB
• 0001410578-24-001315.txt ( ) — 9179KB
• esoa-20240630.xsd (EX-101.SCH) — 54KB
• esoa-20240630_cal.xml (EX-101.CAL) — 63KB
• esoa-20240630_def.xml (EX-101.DEF) — 133KB
• esoa-20240630_lab.xml (EX-101.LAB) — 403KB
• esoa-20240630_pre.xml (EX-101.PRE) — 280KB
• esoa-20240630x10q_htm.xml (XML) — 2051KB

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 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

: Other Information

Part II: Other Information

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 39

Other Information

Item 5. Other Information 39

Exhibits

Item 6. Exhibits 40

Signatures

Signatures 41 1 Table of Contents Part 1. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): Energy Services of America Corporation Consolidated Balance Sheets Unaudited June 30, September 30, 2024 2023 Assets Current assets Cash and cash equivalents $ 14,537,867 $ 16,431,572 Accounts receivable-trade 50,173,780 51,219,958 Allowance for doubtful accounts ( 51,063 ) ( 51,063 ) Retainages receivable 10,279,019 7,589,749 Other receivables 1,122,220 516,968 Contract assets 21,046,114 15,955,220 Prepaid expenses and other 4,245,892 3,520,178 Total current assets 101,353,829 95,182,582 Property, plant and equipment, at cost 90,554,178 84,329,349 less accumulated depreciation ( 52,703,476 ) ( 47,799,840 ) Total property and equipment, net 37,850,702 36,529,509 Right-of-use assets-operating leases 2,497,162 3,326,405 Intangible assets, net 3,058,673 3,383,099 Goodwill 4,087,554 4,087,554 Total assets $ 148,847,920 $ 142,509,149 Liabilities and shareholders' equity Current liabilities Current maturities of long-term debt $ 7,177,071 $ 6,107,277 Lines of credit and short-term borrowings 10,259,700 19,847,470 Current maturities of operating lease liabilities 1,114,734 1,075,815 Accounts payable 19,445,674 22,026,639 Accrued expenses and other current liabilities 12,021,416 13,103,944 Contract liabilities 17,944,618 17,743,001 Income tax payable 5,691,264 — Total current liabilities 73,654,477 79,904,146 Long-term debt, less current maturities 14,502,286 18,870,529 Long-term operating lease liabilities, less current maturities 1,372,062 2,274,975 Deferred tax liability 7,282,967 6,870,510 Total liabilities 96,811,792 107,920,160 Shareholders' equity Common stock, $ .0001 par value Authorized 50,000,000 shares, 17,896,016 issued and 16,570,685 outstanding at June 30, 2024 and 17,885,615 issued and 16,567,185 outstanding at September 30, 2023 1,790 1,789 Treasury stock, 1,

View Full Filing

View this 10-Q filing on SEC EDGAR