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Energy Services of America Announces Financial Results for the Three and Six Months Ended March 31, 2021
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HUNTINGTON, W.Va., May 12, 2021 /PRNewswire/ Energy Services of America Corporation (the Company or Energy Services ) (OTC QB: ESOA) announced financial results for the three and six months ended March 31, 2021. Energy Services generated revenues of $25.6 million and $57.6 million for the three and six months ended March 31, 2021, respectively. Net loss available to common shareholders was $1.4 million and $2.1 million with an adjusted EBITDA of ($798,399) and ($467,317) for the three and six months ended March 31, 2021, respectively. Gross profit percentage increased from 0.4% to 7.3% and from 5.5% to 8.2% for the three and six months ended March 31, 2021 as compared to 2020, respectively.
Energy Services Of America Acquires Solar Installation Business
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NITRO, W.V., May 3, 2021 /PRNewswire/ Energy Services of America Corporation (the Company or Energy Services ) (OTC QB: ESOA) announced that its Nitro Construction Services Inc. ( Nitro ) subsidiary completed the purchase of substantially all the assets of Revolt Energy, Inc. ( Revolt Energy ), a solar installation company located in Nitro, West Virginia. Founded in 2019, Revolt Energy is a leader in residential solar projects in southern West Virginia that is expanding its focus to the commercial and industrial markets.
The asset purchase, completed on April 30, 2021, marks Nitro s commitment to the growing solar and renewable energy industry. Revolt Energy is in the process of completing a 487-kilowatt solar array system consisting of approximately 1,200 solar panels that will soon power Nitro s office and fabrication shop facilities. Nitro and Revolt
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Energy Services of America Announces Financial Results for the Quarter Ended December 31, 2020
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HUNTINGTON, W.Va., Feb. 16, 2021 /PRNewswire/ Energy Services of America Corporation (the Company or Energy Services ) (OTC QB: ESOA) announced fiscal first quarter financial results for the quarter ended December 31, 2020. Energy Services earned revenues of $32.0 million with a net loss available to common shareholders of ($725,000) for the first quarter and generated adjusted EBITDA of $331,000 during the period.
On December 31, 2020, Energy Services completed the acquisition of West Virginia Pipeline, Inc. The acquisition is reflected in the Company s first quarter financial statements, but it did not have a significant impact on the Company s operating results for the period. The Company s $60.7 million backlog at December 31, 2020 includes $5.5 million as a result of the acquisition.