Energy Services of America Posts $93.2M Q2 Revenue and First Profit in 17 Years
Energy Services of America reports Q2 fiscal 2026 revenue of $93.2M, up 21.5% year-over-year, delivering gross profit of $10.2M and net income of $216K versus a $6.8M loss last year. Adjusted EBITDA turned positive at $4.7M, backlog rose $23.6M sequentially to $325.1M, and a $21.2M net equity offering closed.
1. Q2 Financial Results
Energy Services of America reported Q2 fiscal 2026 revenue of $93.2 million, 21.5% above the prior-year quarter, with gross profit of $10.2 million and net income of $216,000, reversing a $6.8 million loss. Adjusted EBITDA turned positive at $4.7 million compared to a $4.9 million loss in the year-ago period.
2. Segment Performance and Backlog
Revenue from Gas & Petroleum Transmission more than doubled year-over-year, while Gas & Water Distribution and Electrical, Mechanical and General segments delivered double-digit growth. Backlog increased by $23.6 million sequentially to $325.1 million, positioning the company for stronger seasonal demand.
3. Equity Offering and Capital Position
The company completed a 2,001,000-share equity offering, generating $21.2 million in net proceeds. The additional liquidity is expected to fund project backlogs, strengthen the balance sheet and support continued expansion across all business lines.