HUNTINGTON, W.Va., May 8, 2024 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (NASDAQ:ESOA), today announced its results for its fiscal second quarter ended March 31, 2024. Second Quarter Summary (1) Revenue of $71.1 million, a 33% increase Gross profit of $6.2 million, a 60% increase Net loss improved by $765,000 to $1.1 million, or ($0.07) per share Adjusted EBITDA improved by $1 million to  $923,000 Backlog of $222.8 million compared to $224.6 million (1) All comparisons are versus the comparable prior year period, unless otherwise stated. "Our second quarter results reflect the continued growth and improved operating performance across all of our business lines," said Doug Reynolds, President. "Although the second quarter is historically our most challenging due to weather, we added approximately $37 million to our backlog compared to the first quarter, and we believe our recent staffing initiatives will allow us to effectively manage these construction projects going forward." "We believe the outlook for the industries we serve remains strong for the foreseeable future.  We have a robust backlog and have seen  greater than anticipated demand which allows us to prioritize our project selection on those that offer more favorable margin profiles.  Overall, we believe are well-positioned with strong macro tailwinds that will allow us to continue to deliver long-term value to our shareholders in the coming quarters and beyond," Mr. Reynolds concluded." Second Quarter Fiscal 2024 Financial ResultsTotal revenues for the period equaled $71.1 million, compared to $53.7 million in the second quarter of fiscal 2023. The year-over-year increase was primarily driven by increased work within the Gas & Petroleum Transmission and Electrical, Mechanical and General business lines. Gross profit was $6.2 million, compared to $3.9 million in the prior-year quarter. Gross margin was 8.8% of revenues, compared to 7.3% of revenues in the second quarter of fiscal 2023. The increase is related to sales mix across the business. Selling and administrative expenses were $7.3 million, compared to $5.9 million in the prior-year quarter. The increase is primarily related to additional personnel hired to secure and manage work for expected growth. Net loss was $1.1 million, or ($0.07) per share, compared to net loss of $1.9 million or ($0.11) per share in the second quarter of fiscal 2023. Backlog as of March 31, 2024 was $222.8 million, compared to $185.9 million as of December 31, 2023 and $224.6 million as of March 31, 2023. Below is a comparison of the Company's operating results for the three and six months ended March 31, 2024 and 2023 (unaudited): Three Months Ended Three Months Ended Six Months Ended Six Months Ended March 31, March 31, March 31, March 31, 2024 2023 2024 2023 Revenue $        71,127,655 $            53,673,443 $      161,290,842 $        113,716,028 Cost of revenues 64,888,101 49,772,790 144,212,327 103,829,113 Gross profit 6,239,554 3,900,653 17,078,515 9,886,915 Selling and administrative expenses 7,321,951 5,887,747 14,520,671 11,203,885 (Loss) income from operations (1,082,397) (1,987,094) 2,557,844