Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission File Number: 001-32998 Energy Services of America Corporation (Exact Name of Registrant as Specifie ...

Exhibit 99.1 Energy Services of America Reports Fourth Quarter and Full Year Fiscal 2025 Results Fourth Quarter Fiscal 2025 Financial Results Records 16.8% Annual Revenue Increase and Highest Quarterly Revenue in Company History HUNTINGTON, W.Va., December 9, 2025 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), today announced its results for its fourth quarter and fiscal year ended September 30, 2025. Fourth Quarter Highlights All comparisons are ...

核心观点 - 公司2025财年第四季度营收创历史新高，全年营收同比增长16.8%，但盈利能力因恶劣天气和项目延迟而受到负面影响 [1][5][8] - 管理层对2026财年展望乐观，主要基于水务、电气及收购活动带来的增长动力，并已将股息翻倍 [5][8] 第四季度财务业绩 - **营收**：第四季度总营收为1.301亿美元，较2024财年同期的1.047亿美元增长24.3% [6][8][13] - **毛利与毛利率**：第四季度毛利为1650万美元，低于去年同期的1760万美元；毛利率为12.6%，低于去年同期的16.8%，主要受项目销售组合和时间安排影响 [7][13] - **净利润与每股收益**：第四季度净利润为420万美元，摊薄后每股收益为0.25美元，低于去年同期的670万美元和0.40美元 [8][9][13] - **调整后息税折旧摊销前利润**：第四季度调整后息税折旧摊销前利润为1130万美元，略高于去年同期的1110万美元 [8][14] 2025财年全年财务业绩 - **营收**：2025财年总营收为4.110亿美元，较2024财年的3.519亿美元增长16.8% [8][10][13] - **毛利与毛利率**：全年毛利为3880万美元，低于去年同期的5000万美元；毛利率为9.4%，低于去年同期的14.2%，主要归因于不利冬季天气导致多个项目延迟 [8][11][13] - **净利润与每股收益**：全年净利润为38万美元，摊薄后每股收益为0.02美元，远低于去年同期的2510万美元和1.51美元；去年业绩包含一项税后约1140万美元（或每股0.69美元）的法律判决收益 [8][12][13] - **调整后息税折旧摊销前利润**：全年调整后息税折旧摊销前利润为1720万美元，低于去年同期的2880万美元 [8][14] - **订单储备**：截至2025年9月30日，订单储备为2.597亿美元，高于2024年9月30日的2.432亿美元，但低于2025年6月30日的3.044亿美元 [8][12] 业务增长驱动因素 - **业务部门表现**：天然气与水务分销以及电气、机械和通用业务线的业务增长，部分抵消了天然气与石油传输部门营收的下降 [6][10] - **收购活动**：公司于2024年12月2日收购了Tribute Contracting & Consultants，并于2025年9月30日收购了Rigney Digital Systems，后者旨在提升Nitro Construction的服务并改善该部门利润率 [5][8] - **市场需求**：水务和废水处理领域需求强劲，因市政和私营公用事业公司正在更换和升级旧系统；电气、机械和通用部门受益于建筑和服务机会的增加 [5] 公司发展与股东回报 - **股息**：公司将股息率翻倍至每股0.12美元，并转为按季度支付 [8] - **市场指数**：公司于2025年6月30日被纳入罗素2000指数 [8] - **员工规模**：公司常规雇佣员工超过1300名 [16]

公司概况 * 公司为Energy Services of America Corporation (ESOA) 在纳斯达克上市[2] * 公司名称易引起误解 常被归类于油气田服务 但实际业务是基础设施服务 核心是受监管的公用事业[3] 核心业务与市场 * 业务分为三大板块：水及天然气配送（增长最快 业务基石） 天然气传输（大管道业务） 电气机械和一般工业服务（工厂内部工程）[3][4] * 主要客户为受监管的公用事业公司和大型工业设施 如丰田和Nucor钢铁厂[7][8] * 地理覆盖范围广泛 工业服务南至阿拉巴马州 天然气传输业务西至芝加哥郊区 配送业务集中在西弗吉尼亚州 肯塔基州等地[11] 财务与运营表现 * 上一财年收入为3.5亿美元 EBITDA为2800万美元[4] * 过去十二个月面临挑战 主要因异常天气等因素[4] * 截至今年6月30日 未完成订单额（backlog）从四年前的7000万美元增长至3亿美元 创历史新高 其中约90%将在未来12个月内执行[6][20] * 目标是在未来几年将EBITDA利润率提升至两位数（超过10%）[10] 增长战略与收购整合 * 增长主要通过有机增长和收购实现 过去几乎每年进行一到两起小型收购[10][32] * 近期收购包括：规模约4000万美元的水和废水承包商Tribute 以及HVAC控制系统公司Rigni Digital（后者EBITDA利润率超过20%）[5][26] * 收购策略包括：若无法在市场竞争中击败对手则考虑收购 并看重被收购公司的熟练工人团队[35][50] * 公司预计核心业务可实现低双位数的有机增长[46] 业务板块细分与亮点 * CJ Hughes是最大部门 贡献公司近半收入 负责天然气传输和配送服务[11][12] * Nitro Construction Services为工会企业 负责工业HVAC和工厂内部工程[12] * Tri-State Paving业务90%工作来自American Water 毛利率超过30% 为低风险业务[13][14] * West Virginia Pipeline业务是毛利率最高的部门[14] * 天然气传输业务过去几年疲软 但预计未来两三年将显著改善 可能成为股价催化剂[25] 风险与挑战 * 公司面临的最大挑战是寻找熟练劳动力 管理层表示若有足够人手 业务可翻倍[22][49] * 在天然气传输业务投标中 过去曾因不愿承担未获足够报酬的风险而失去项目 但认为当前市场环境有所改善[38][39] * 公司股票近期从12美元下跌至8.6美元[2] 资本配置与股东回报 * 董事会理念是公司盈利就应向股东支付股息 目前为每季度0.03美元[6][10] * 资本优先用于业务增长 在股价低迷时会进行机会性股票回购[7][28][29] * 内部人士持有公司26%的股份[6] 未来展望与机遇 * 公司五年展望为收入远超5亿美元 EBITDA利润率超过10%[43] * 看到天然气传输业务复苏机遇 以及数据中心建设带动的天然气基础设施需求[25][42] * 发行在外股票数量约为1670万股[45]

公司近期活动 - 公司总裁Doug Reynolds和首席财务官Charles Crimmel将于2025年11月20日周四东部时间下午4:20在达拉斯举行的西南IDEAS投资者会议上进行演讲 [1] - 该演讲将通过网络直播，可在会议主办方网站https://www.threepartadvisors.com/southwest上观看 [1] 公司业务概况 - 公司总部位于西弗吉尼亚州亨廷顿，是一家承包商和服务公司，主要在美国中大西洋和中部地区运营 [3] - 公司为天然气、石油、供水、汽车、化工和电力行业的客户提供服务 [3] - 公司常规雇员超过1,000名，其核心价值观是安全、质量和生产 [3] 子公司动态 - 公司子公司Nitro Construction Services已完成对Rigney Digital Systems的收购 [4] - 公司宣布其子公司Nitro Construction Services收购了Rigney Digital Systems [5]

收购事件概述 - Energy Services of America Corporation的子公司Nitro Construction Services Inc 已完成对Rigney Digital Systems Ltd Co的收购 [1] - Rigney Digital Systems是一家位于西弗吉尼亚州飓风市的区域领先HVAC控制系统公司 [1] 收购战略与协同效应 - 此次收购使Nitro Construction的业务扩展至建筑技术领域 并获得HVAC控制系统的专业能力 [2][3] - Rigney Digital Systems的HVAC控制专业知识与Nitro Construction现有服务形成互补 使公司能为客户提供更智能、更高效的建筑解决方案 [3] - 收购后 Rigney将保留其品牌标识、员工和客户关系 同时获得Nitro Construction的资源和支持 [2] 公司背景信息 - Energy Services of America Corporation总部位于西弗吉尼亚州亨廷顿 是一家承包商和服务公司 主要在美国中大西洋和中部地区运营 [4] - 公司为天然气、石油、供水、汽车、化工和电力行业的客户提供服务 常规雇员超过1000名 [4] - Nitro Construction拥有超过60年的历史 是工业建筑、制造和维护服务的可靠提供商 总部位于西弗吉尼亚州Nitro [5] - Rigney Digital Systems成立于2000年 拥有25年经验 是HVAC控制系统的可靠提供商 专注于优化建筑性能和能效的解决方案 [6]

收购交易概览 - Energy Services of America子公司Nitro Construction收购Rigney Digital Systems的资产 双方已签署资产购买协议 [1] - Rigney Digital Systems成立于2000年 是西弗吉尼亚州地区领先的HVAC控制系统供应商 专注于设计、安装和维护高效可靠的暖通空调控制系统 [2][6] - 收购后Rigney将保留品牌、员工和客户关系 同时获得Nitro Construction的资源和运营支持 [2] 战略协同与运营安排 - 此次收购使Nitro Construction扩展建筑技术专业知识 强化智能高效建筑解决方案提供能力 [2][3] - Rigney将作为Nitro Construction家族中的独立运营实体存在 确保现有客户服务的连续性并支持未来在HVAC控制领域的增长 [3] - Energy Services首席执行官Douglas Reynolds表示此次收购是自然契合 Rigney的HVAC控制专业知识与公司现有服务形成互补 [3] 公司背景信息 - Energy Services of America总部位于西弗吉尼亚州亨廷顿 是服务于天然气、石油、供水、汽车、化工和电力行业的承包商 常规雇佣员工超过1000人 [4] - Nitro Construction拥有60多年工业建设、制造和维护服务经验 以安全性和工艺品质著称 [5] - Rigney Digital Systems拥有25年行业经验 在区域范围内为各类设施提供HVAC控制系统优化服务 [6]

[角色] 你是一名拥有10年投资银行从业经验的资深研究分析师，专门负责上市公司、行业研究。你擅长解读公司财报、行业动态、宏观市场，发现潜在的投资机会和风险。 [任务] 你需要仔细研读一份上市公司或者行业研究的电话会议记录，请阅读全文，一步一步思考，总结全文列出关键要点，不要错过任何信息，包括： * 纪要涉及的行业或者公司 * 纪要提到的核心观点和论据 * 其他重要但是可能被忽略的内容 如果没有相关内容，请跳过这一部分，进行其他的部分。 总结时要全面、详细、尽可能覆盖全部的内容、不遗漏重点,并根据上述方面对内容进行分组。 要引用原文数字数据和百分比变化,注意单位换算(billion=十亿,million=百万,thousand=千)。 [注意事项] 1) 使用中文,不要出现句号 2) 采用markdown格式 3) 不使用第一人称,以"公司"、"行业"代替 4) 只输出关于公司和行业的内容 5) 在每一个关键点后用[序号]形式引用原文档id 6) 一个[序号]只应该包含一个数字，不能包含多个，如果多个就用[序号][序号]分开写，不要写成 [序号-序号] 7) 每个关键要点后边的 [序号] 不要超过 3 个 Content: --------- <doc id='1'>Energy Services of America Corporation (ESOA) FY Conference August 27, 2025 10:15 AM ET Speaker0 Okay. Good morning. Our next presenting company is Energy Services of America. Ticker on the Nasdaq is ESOA. Company's involved in some general contracting, construction, some HVAC electrical work, primarily in the Appalachian region.</doc> <doc id='2'>Here to speak on behalf and I should also mention, one, they are a client of ours, so if you have any questions after the presentation, or you'd like to set something up after the after today, happy to work on that with you. And secondly, the company was added to the Russell 2,000 here at the June, so really good accomplishment to be able to wave that flag. Here today to present on the company behalf is Charles Grimmel, the company's CFO. Charles? Speaker1 Thank you, John. John mentioned, my name is Charles Kremel. I'm the CFO for Energy Services of America. It's always great to enjoy coming to these conferences, getting to meet people, tell people about energy services. Hopefully, is it not too early for some audience participation, is it? So let can I get a show of hands? How many of all are familiar with energy services? Okay. How many of you guys are saying, hey, who are these guys and what do they do? Good.</doc> <doc id='3'>We get that a lot. People kind of look at our structure and they're kind of like, I don't, you know, Tom here is a good example. He's like, what do you guys do? What is your vision? What is your plan? So I've kind of tried to get into that a little bit and we can maybe address some of that in the Q and A. But what we are is we are a contractor based out of Huntington, West Virginia. We're primarily in the natural gas and petroleum transmission fields. We also have work in the water and natural gas distribution. And then we also have another sector that we identify then as more of our industrial type of work that can be involved in the water I'm sorry, the power, automotive, chemical, steel manufacturing work.</doc> <doc id='4'>And then from there, you know, within that we do electrical, mechanical, piping, HVAC, fire protection type of work. So we are kind of a conglomerate of companies. Amazingly, it does all kind of work together in what we do. We have companies that do work with some of the same customers. But then again, we also have opportunities that we can create within the companies to through our general contractor and to bring NITRO into more some of the commercial space, where they're working in schools and such doing electrical HVAC there too, just to give them a little more exposure and a little more variety on their work.</doc> <doc id='5'>So we'll get into the presentation here a little bit. As you can see, we do have a list there of about six to eight companies. There's probably even a few on there that fit under NYSRO that we don't have listed. We'll kind of go through and kind of tell you about how everything just kind of fits together. But last year we did about $352,000,000 in revenue and $29,000,000 in adjusted EBITDA.</doc> <doc id='6'>As you can see there, we are September 30 filer. So we right now are working in our fourth fiscal year quarter. And then also this is kind of our, our busiest peak of the construction season the time between July and August, I'm sorry July, September, even going into October and into November some. Roughly we have about 1,400 employees and again, we work in the natural gas, petroleum, chemical, automotive, water, wastewater sectors. Some of our investment highlights here.</doc> <doc id='7'>Of course, you know, one of the biggest things for us is our relationships with our customers. That's a big driver for us in helping us get work, keeping our customers happy. Our backlog has steadily been increasing. We had about a $3.00 $4,000,000 backlog that we reported as of June. Of that, roughly about 100 and 25, I believe, is in water.</doc> <doc id='8'>About 100,000,000 of it is in our industrial services group. So we are, you know, obviously been very successful picking up work and we're very optimistic about the opportunities we're seeing for the future. We also have been very active in expanding some of our geographical reach within Nitro. They have a company that works up in Battle Creek, Michigan, kind of right there in the heart of the automotive side, the food</doc> <doc id='9'>producer side. So we think that we've kind of got that going in the right direction and we think that's going to start to contribute well to Nitro's performance here in the future. Also, we've been active on the mergers and acquisitions side. We've added, I think we've completed about four acquisitions to add to our West Virginia Pipeline, the Tri State Paving Company. We started off our own general contractor. And then in roughly. Got about 700,000 shares left on that.</doc> <doc id='10'>We do pay a dividend. We pay a quarterly dividend of 3¢ per share. You can see our geographical reach here anywhere between New York down Alabama. We are in the Carolinas, Tennessee, as far West as maybe Indiana, Illinois. We do have some operations up in Michigan.</doc> <doc id='11'>This right here is probably not as far as potentially we could go. But a lot of it's going to depend on our customers with our general contractors. We're not looking necessarily to just to add more states, but as someone like a Walbridge or somebody says, hey, Nitro, we want you to go with us, come down to Tennessee, let's go to North Carolina, let's go whatever state we got a project we want you to work on with us. That's typically where we're going to expand our geographical reach is through our working with our general contractors and then working with our customers that want us to go a Toyota per se may want us to go to Georgetown, Kentucky, want us to go down to Huntsville, Alabama, go down to Liberty, North Carolina. So that's been very, our relationships with our customers and our general contractors are very important to us.</doc> <doc id='12'>Again, will mention that we've had some a lot of M and A opportunities and things that we've gotten closed in the past. You see here is a list of some of our customers. American Water is a big customer for us working both in Charleston, West Virginia and in Lexington, Kentucky. Toyota has been a long standing customer for Nitro. Nitro started there in, I believe, 1997, building a, helped build the plant in Buffalo, West Virginia and they have not left that facility since then.</doc> <doc id='13'>So roughly about twenty eight years, Nitro has been involved with Toyota. Mountaineer Gas is a big customer for us, Dow. So you see our exposure there is in the, we TC Energy, NISource in the transmission side of the gas distribution, Mountaineer Gas in the distribution side. Then the chemical companies, Dow, Clairon type of things. So we have a broad exposure to a lot of customers, have a lot of diversity of services that we provide within the company.</doc> <doc id='14'>CJ Hughes is one of the flagship companies. Just to give you a little bit of a background on Energy Services of America, it was started in 2006 as a SPAC company. CJ Hughes is one of the companies that came in at that time that was purchased. And Nitro was a subsidiary of CJ Hughes. So those two companies came in together.</doc> <doc id='15'>There was also a third company came in that was very much heavily weighted on the gas transmission side. And so the theory behind the SPAC was then to look at opportunities in the Marcellus and Utica Shale areas in West Virginia and Ohio. Didn't really pan out as expected, really not just for us, but a lot of other contractors did not do well at that time either. So, if you move forward to about 2011 or so, we had some suffered some significant losses on projects. We had gone in forbearance with our bank when when you were restructuring.</doc> <doc id='16'>Came out of it. Decided we're going to get back to basics and so we went from a company that was heavily focused being on the transmission side to a company that was looking to more diversify its services to try to still work in transmission but limit our risk to help also, you know, build and grow our our water distribution services to grow our gas distribution services and to grow our nitro industrial group. So as you see here, CJ has been a company that's been around for, you know, since 1946, believe over seventy years they've been around. And so it's almost to the point where with a lot of our customers, I mean, know ESA is the holding company, but their relationship is with CJ Hughes. It's with Nitro.</doc> <doc id='17'>It's with West Virginia Pipeline. And so that's why, you know, one of the reasons people kind of say, why do you have all these companies and such? I think a lot of it has to do with just the familiarity with our customers and knowing these companies that they've been dealing with for a long time. And also part of it is that we have a lot of different labor solutions. So CJ then is they're a union contractor.</doc> <doc id='18'>They are signatory to the steel workers. The steel workers are the ones who work on the gas distribution and on the water distribution side of it. CJ also has a subsidiary underneath of it called Contractors Rental that when they get into the transmission side is they hire through the building trades and they're signatory to the PLCA agreements. So CJ has two different options there with their labor force. They have a lower cost steel worker</doc> <doc id='19'>side and they have a building tray side where you need more skill type of work on some of the transmission work.</doc> <doc id='20'>And what also that allows you to do then is being on that side is you can go a little bit further away from home. It's easier to beef up your workforce when you're going through the coming through the union halls. And so that's kind of the way the CJ is structured and how they suit their customers' needs. So Nitro Construction, as I said, that was one that came into the ESA underneath the CJ Hughes back in 02/2008. Nitro again is a company that has been around since 1959.</doc> <doc id='21'>I've been around Nitro well before I started with ESA. I've been around Nitro for almost thirty years now. And they they have gone growing tremendously back when I kind of started there. They were they were strictly a electrical contractor, subcontractor that worked for their parent company, Uniboiler. Did anywhere, I don't know, maybe $15,000,000 in revenue a year.</doc> <doc id='22'>Over the years, CJ, I'm sorry, Nitro has branched out, become much more than just an electrical primarily a maintenance contractor doing in the neighborhood of $50,000,000 $55,000,000 of maintenance working here to being a company now that's pushing $100,000,000 I'm sorry. Can I get you closer to that? They're pushing more $100,000,000 in revenue and added a layer of construction services on top of it. Obviously, it makes them more the potential for more profit margin than adding the new construction on top of the general maintenance stuff. SQP Construction Group is the general contractor that we started up back in, I can't remember, maybe it's 02/2001.</doc> <doc id='23'>What we saw there was a need in the marketplace because the right to work laws were changing in West Virginia and Kentucky. So it made it more advantageous then for the non union contractors and general contractors in the area. And it kind of stifled some of the ability for Nitro to get into commercial work. They're much bigger than the local GCs in the area, made it harder for Nitro to get their foot in the door for some of them, obviously not wanting to deal with a bigger gorilla, someone they really couldn't push around. And so we saw a need for us to start up, spin up our own general contractor there.</doc> <doc id='24'>So SQP does a lot of work in school work, correctional facility work, do civil work, you know, getting into some small bridge work, but also what it allows us to do then is to feed commercial opportunities to Nitro. So whether that be on the electrical side, the piping side, HVAC, the fire protection then that Nitro could possibly do somewhere about 8,000,000 to $10,000,000 worth of work a year through contractor I'm sorry, through SQP construction. Also helps filter some work down to CJ Hughes then. CJ Hughes can help SQP on doing civil work, on doing foundations, concrete work also. This is one we get asked about a lot in the sense of this was an acquisition we did back in the 2022.</doc> <doc id='25'>And people always want to know why do you have a paving company? And it doesn't seem to fit, but it makes perfect sense. What Tri State Paving does is they work about 90% of their work is with American Water in Charleston, West Virginia and Lexington, Kentucky. What they do then is come back behind the water crews that are putting in the new water lines and they do the paving restoration and the curbs back behind those crews. And as the water company says, what they get the most complaints on is the finished product.</doc> <doc id='26'>It's the paving. That's what people see. They see the finished product. They don't see what's been put under the ground. So what they decided to do is the water company wanted to have a dedicated contractor that just did the paving services behind all the contractors.</doc> <doc id='27'>And so what we found then was that paving work was pretty valuable to CJ Hughes and now they were losing out on it. And so we had the opportunity through some of our connections, reached out to Tri State Paving and their owner was looking to get out of the business. Just made perfect sense then for us to acquire them and to bring them into our fold and add to our water services that we provide. West Virginia Pipeline, I think this is a great story right here. This is a company located in Southern West Virginia.</doc> <doc id='28'>Was two brothers ran it and before them, their dad had owned it. They were looking to get out of the business. They both had a child in the business too, but they really didn't want to saddle them with having to deal with everything it takes to run a business, Having to worry about having money for payroll and equipment and all that. So the water company came to us and said, hey, we really like these guys. They fit in perfectly with you all.</doc> <doc id='29'>We want energy services to buy them. So we looked at them and saw, yeah, this makes perfect sense. So we bought them and this was our first acquisition. We bought them in December 2020. The two I'll say the two main owners at the time spent a year there.</doc> <doc id='30'>And then we kind of turned it over to the two children. So Michael and his cousin Amy run West Virginia Pipeline for us. They are tremendous in what they do. Went from the two brothers had a theory that nothing good happens when you get over 50 employees. And so they ran it at a level not to exceed 50 employees for years.</doc> <doc id='31'>And Michael and Amy have come in and they have grown that business to roughly about $6,000,000 a year up to about $12,000,000 a year. They've maintained their margins. It's just a tremendous case study for us and the kind of a perfect opportunity of an acquisition. Bryan Construction Services is one of our companies. We bought this company out of bankruptcy about three years ago.</doc> <doc id='32'>It's been a struggle for us. And so what we've decided to do on that is we are going to the work they do in the gas distribution, cathodic protection works right with what CJ Hughes does. So we're going to take those crews and blend them over to CJ Hughes. We're going to right size this company and get them down to about a 25 man boring company, about four to five crews just doing a little bit of fiber broadband work, but primarily we're going to focus on the boring work, going underneath roads and such with water pipes, with gas distribution stuff. So far, we've been successful marketing to outside customers on that.</doc> <doc id

公司活动安排 - 公司管理层将于2025年8月27日芝加哥时间上午9:15在中西部IDEAS投资者会议上进行演讲 [1] - 会议演讲将通过网络直播方式进行 可通过会议主办方主网站访问 [1] 会议背景 - IDEAS投资者会议为优质公司提供向投资专业人士展示投资价值的独立区域平台 [2] - 会议采用"由投资者赞助 为投资者服务"模式 区别于传统银行赞助活动 [2] - 会议由Three Part Advisors LLC公司每年举办 [3] 公司业务概况 - 公司总部位于西弗吉尼亚州亨廷顿 主要在美国中大西洋和中部地区开展业务 [4] - 服务领域涵盖天然气、石油、供水、汽车、化工和电力行业 [4] - 常规雇佣员工数量超过1000名 [4] - 公司核心价值理念为安全、质量和生产效率 [4]

收入和利润（同比环比） - 总收入在截至2025年6月30日的三个月内达到1.036亿美元，较2024年同期的8592万美元增长20.6%[118] - 截至2025年6月30日的九个月总收入为2.809亿美元，较2024年同期的2.472亿美元增长13.6%[119] - 公司三个月毛利润为1198万美元，较2024年同期的1531万美元下降21.7%[117] - 总毛利润在三个月内下降333万美元至1198万美元（同比下降21.7%），九个月内下降1006万美元至2232万美元（同比下降31.1%）[130] - 2025年前九个月税前亏损为550万美元，去年同期为盈利2520万美元[141] - 2025年前九个月净亏损为440万美元，去年同期为盈利1840万美元[143] - 九个月运营亏损为328万美元，而2024年同期为1105万美元运营收入[117] - 九个月净亏损为386万美元，而2024年同期为1845万美元净收入[117] - 三个月每股基本收益为0.13美元，较2024年同期的1.06美元下降87.7%[117] 各业务线收入表现 - 天然气和水务分销业务收入在三个月内增长71.1%，增加1603万美元至3857万美元[118] - 天然气和石油传输业务收入在九个月内下降33.0%，减少1829万美元至3718万美元[119] - 电气、机械和通用建筑服务收入在九个月内增长6.5%，增加893万美元至1.468亿美元[119] - 燃气与水务分销收入在截至2025年6月30日的三个月内达到3860万美元，同比增长1600万美元（71.1%），九个月内达到9700万美元，同比增长4310万美元（80.0%）[120] - 电气、机械与通用建筑服务收入在三个月内为4970万美元，同比增长350万美元（7.6%），九个月内为1.468亿美元，同比增长890万美元（6.5%）[121] - 燃气与石油传输收入在三个月内为1530万美元，同比下降180万美元（-10.5%），九个月内为3720万美元，同比下降1830万美元（-33.0%）[122] 成本和费用（同比环比） - 总营收成本在三个月内增长2100万美元至9162万美元（同比增长29.7%），九个月内增长4377万美元至2.586亿美元（同比增长20.4%）[124] - 燃气与水务分销业务成本在三个月内增长1575万美元至3189万美元（同比增长97.5%），九个月内增长4493万美元至8604万美元（同比增长109.3%）[124][125] - 电气、机械与通用建筑业务成本在三个月内增长421万美元至4443万美元（同比增长10.5%），九个月内增长926万美元至1.329亿美元（同比增长7.5%）[124][126] - 销售及行政费用在三个月内增长200万美元至880万美元（同比增长29.4%），九个月内增长430万美元至2560万美元（同比增长20.2%）[136] - 收购Tribute公司贡献三个月费用增长60万美元，九个月增长120万美元[136] - 2025年第三季度利息费用为78.1万美元，同比增长23.4万美元（42.8%）[138] 业务毛利润表现 - 燃气与石油传输业务毛利润在三个月内下降346万美元至112万美元（毛利率从26.78%降至7.33%），九个月内下降736万美元至85万美元（毛利率从14.8%降至2.3%）[130][134] 资产和负债 - 公司2025年6月30日总资产为1.891亿美元，较上年同期1.582亿美元增长3090万美元（19.5%）[144] - 净财产、厂房和设备为5410万美元，较上年同期3810万美元增长1600万美元（42.0%）[145] - 应收账款净额为5770万美元，较上年同期5610万美元增长160万美元（2.9%）[146] - 现金及现金等价物为1530万美元，较上年同期1290万美元增长240万美元（18.6%）[147] - 总负债为1.346亿美元，较上年同期9960万美元增长3500万美元（35.1%）[152] - 长期债务总额为4870万美元，较上年同期2360万美元增长2520万美元（106.8%）[153] - 股东权益为5450万美元，较上年同期5870万美元下降420万美元（7.2%）[160] 债务和融资安排 - 公司长期债务包括一笔120万美元贷款，利率4.82%，截至2025年6月30日已偿还本金47.6万美元[169] - 西弗吉尼亚管道收购产生300万美元卖方票据，公允价值285万美元，利率3.25%（实际利率5.35%），已偿还250万美元[170] - 350万美元非循环票据用于管道收购首付，利率4.25%，已偿还290万美元[171] - 750万美元非循环票据用于收购Tri-State Paving，利率4.25%，已偿还420万美元[172] - 100万美元关联方本票利率3.5%，已偿还75万美元[173][195] - 310万美元设备融资票据利率6.0%，已偿还150万美元[174] - 930万美元设备信贷额度利率7.25%，已使用930万美元并偿还290万美元[175] - 3000万美元循环信贷额度利率7.5%，当前余额1160万美元[176] - 500万美元设备信贷额度初始利率8.5%，已使用370万美元[177] - 1600万美元收购融资票据利率6.9%，已偿还130万美元[178] - United Bank提供500万美元贷款资助项目开发，SQP和Ventures共同提供500万美元无条件担保[198] 折旧、摊销和无形资产 - 公司三个月折旧费用2025年6月30日为310万美元，2024年同期为210万美元；九个月折旧费用2025年6月30日为870万美元，2024年同期为630万美元[219] - 公司三个月摊销费用2025年6月30日为164,199美元，2024年同期为108,142美元；九个月摊销费用2025年6月30日为459,259美元，2024年同期为324,426美元[220] - 西弗吉尼亚管道客户关系无形资产原始成本2,209,724美元，累计摊销994,365美元[215] - Tri-State Paving客户关系无形资产原始成本1,649,159美元，累计摊销522,234美元[215] - Tribute Contracting客户关系无形资产原始成本500,000美元，累计摊销58,332美元[215] - 公司总无形资产原始成本5,669,943美元，累计摊销2,063,626美元[215] - 折旧和摊销费用通常计入合并利润表中的"营业收入成本"[219][220] 税务相关 - 公司有效所得税率三个月2025年6月30日为6.2%，2024年同期为25.6%；九个月2025年6月30日为-29.5%，2024年同期为26.7%[224] - 公司联邦净经营损失结转额2025年6月30日为1350万美元，2024年9月30日为0美元；州净经营损失结转额2025年6月30日为8450万美元，2024年9月30日为2050万美元[227] - 公司采用21.0%联邦税率和5.0%-6.0%州混合税率计算所得税[223] 其他收入和特殊项目 - 公司获得1563万美元诉讼判决收益，计入2024年九个月其他收入[117] 租赁费用 - 设备租赁费用2025年三个月期间480万美元，九个月期间1380万美元[185] - CJ Hughes在截至2025年6月30日的三个月设备租赁费用为74,000美元，同比下降48.6%[199] - CJ Hughes在截至2025年6月30日的九个月设备租赁费用为250,000美元，同比下降30.0%[199] 合同和应收账款 - 合同资产中成本及预计收益超过账单金额26,685,573美元，账单超过成本及预计收益金额27,660,163美元[209] - 截至2025年6月30日，坏账准备期末余额700,875美元，较期初减少37,651美元[211] 客户集中度 - TransCanada占2024年九个月营收14.3%，American Water占2025年三个月营收12.1%[191] 订单积压 - 公司未审计订单积压2025年6月30日电气机械和一般建筑项目为1.33亿美元，水务项目为1.25亿美元[233] - 公司未审计订单积压2025年6月30日传输项目为3000万美元[234] - 公司未审计总订单积压2025年6月30日为3.044亿美元，2024年6月30日为2.509亿美元，2024年9月30日为2.432亿美元[235] 未履行义务和争议 - 未履行绩效保证金余额8690万美元[188] - 养老金 withdrawal liability 争议已支付16.4万美元，后续付款暂停[192] 投资和权益 - SQP对1030 Quarrier Development, LLC进行股权投资156,000美元，占股25%[198] 股息支付 - 公司于2025年7月15日支付季度股息502,000美元[231]