Energy Services Q1 revenue rises

Overview

• Contractor's fiscal Q1 revenue rose 13.4% yr/yr, driven by Gas & Water Distribution

• Net income for fiscal Q1 increased significantly yr/yr

• Adjusted EBITDA for fiscal Q1 improved yr/yr

Outlook

• Energy Services sees favorable tailwinds across Gas & Water Distribution and Gas & Petroleum Transmission

• Company remains optimistic about long-term business prospects despite seasonally slower winter months

Result Drivers

• GAS & WATER DISTRIBUTION - Revenue increased 30% yr/yr due to ongoing replacement and upgrade cycles by municipalities and private utilities

• BACKLOG INCREASE - Backlog rose by $42 mln sequentially, indicating strong future demand

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for Energy Services Of America Corp is $21.00, about 122.9% above its February 6 closing price of $9.42

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nPn910593a

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