Q3 Revenue Jumps 25.5% to $130M, Crushing Estimates; Dividend Hiked 33%
ESOA sits 93% above its 52-week low of $7.84.
Summary
Energy Services of America reported Q3 revenue of $130M, a 25.5% increase, beating the $112.65M consensus. Net income rose 57.9% to $3.3M, with earnings per share of 18 cents. The company raised its quarterly dividend by a third to $0.04 per share. Demand across water, electrical, and recovering gas transmission segments drove the beat, aided by favorable weather that accelerated project starts. Profitability was tempered by a lower-than-expected gross margin on a large gas project. The stock trades at 20x forward earnings with a $27.50 median price target.
At the time of this announcement, ESOA was trading at $15.14 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $288.5M. The 52-week trading range was $7.84 to $19.94. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.