8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 15, 2017

Energy Services of America Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-32998	20-4606266
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

75 West 3rd Ave., Huntington, West Virginia	25701
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:      (304) 522-3868

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations

On December 15, 2017, Energy Services of America, Inc. (the “Company”) issued a press release disclosing its results of operations and financial condition at and for the twelve months ended September 30, 2017.

A copy of the press release dated December 15, 2017 is included as Exhibit 99.1 to this report and is being furnished to the SEC and shall not be deemed filed for any purpose. 

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit 99.1 Press Release dated December 15, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	ENERGY SERVICES OF AMERICA CORPORATION
DATE:  December 15, 2017	By:	/s/Charles Crimmel
		Charles Crimmel
		Chief Financial Officer

EX-99.1

 Exhibit 99.1

ENERGY SERVICES OF AMERICA FILES ANNUAL REPORT

Huntington, WV   December 15, 2017-  Energy Services of America Corporation (the “Company” or “Energy Services”) (OTC QB: ESOA), parent company of C.J. Hughes Construction Company, Inc. and Nitro Electric Company, Inc. announced today the filing of the Company’s Annual Report on Form 10-K for the year ended September 30, 2017. For the fourth quarter of fiscal year 2017, the Company had revenue of $41.9 million, gross profit of $3.0 million, and income available to common shareholders of $476,000. For fiscal year 2017, the Company had revenue of $140.5 million, gross profit of $7.8 million, and a loss available to common shareholders of $697,000. The Company had an adjusted EBITDA of $3.6 million, or $0.25 per share, and loss per share of $(0.05) on 14,239,836 common shares outstanding for fiscal year 2017. The backlog at September 30, 2017 was $62.5 million.

Douglas Reynolds, President, commented on the announcement. “After a rough third quarter, we were able to get back on track in the fourth quarter of fiscal year 2017. A widespread labor shortage in the pipeline industry and above average inclement weather led to significant production delays on two major projects. We absorbed those losses in the third quarter and were able to improve our estimates in the fourth quarter. We also had several very successful projects that helped to reduce the loss available to common shareholders for fiscal year 2017 while generating a positive EBITDA of $3.6 million.”

Below is a comparison of the Company’s unaudited operating results for fiscal year 2017 compared to fiscal year 2016:

	Three Months Ended			Three Months Ended			Year Ended			Year Ended
	September 30, 2017			September 30, 2016			September 30, 2017			September 30, 2016
Revenue	$	41,941,034		$	49,731,058		$	140,495,726		$	155,481,145
Cost of revenues		38,915,516			44,846,960			132,711,810			141,283,142
Gross profit		3,025,518			4,884,098			7,783,916			14,198,003
Selling and administrative expenses		1,666,427			1,647,071			7,401,769			7,293,323
Income from operations		1,359,091			3,237,027			382,147			6,904,680
Other income (expense)
Other nonoperating income (expense)		(55,874	)		(85,826	)		(162,422	)		(158,246	)
Interest expense		(275,326	)		(238,842	)		(833,424	)		(875,254	)
Gain on sale of equipment		50,313			130,791			145,575			268,448
		(280,887	)		(193,877	)		(850,271	)		(765,052	)
Income (loss) from continuing operations before income taxes		1,078,204			3,043,150			(468,124	)		6,139,628
Income tax (benefit) expense		524,930			1,367,573			(80,368	)		2,898,205
Income (loss) from continuing operations		553,274			1,675,577			(387,756	)		3,241,423
Dividends on preferred stock		77,250			77,250			309,000			309,000
Income (loss) from continuing operations available to common shareholders		476,024			1,598,327			(696,756	)		2,932,423
Income from discontinued operations net of tax expense		-			-			-			-
Net income (loss) available to common shareholders	$	476,024		$	1,598,327		$	(696,756	)	$	2,932,423
Weighted average shares outstanding-basic		14,239,836			14,239,836			14,239,836			14,239,836
Weighted average shares-diluted		17,673,169			17,673,169			14,239,836			17,673,169
Earnings (loss) per share available to common shareholders	$	0.033		$	0.112		$	(0.049	)	$	0.206
Earnings (loss) per share-diluted available to common shareholders	$	0.027		$	0.090		$	(0.049	)	$	0.166

Please refer to the table below that reconciles EBITDA and EBITDA per share:

	2017			2016
Net income (loss) available to common shareholders	$	(696,756	)	$	2,932,423
Add: Income tax (benefit) expense		(80,368	)		2,898,205
Add: Dividends on preferred stock		309,000			309,000
Add:  Interest expense		833,424			875,254
Less: Non-operating expense (income)		16,847			(110,202	)
Add: Depreciation expense		3,235,362			2,503,471
Adjusted EBITDA	$	3,617,509		$	9,408,151
Common shares outstanding		14,239,836			14,239,836
Adjusted EBITDA per common share	$	0.25		$	0.66

Certain statements contained in the release, including without limitation statements including the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

Source: Energy Services of America Corporation

Contact:	Douglas Reynolds, President
	(304)-522-3868