Energy Services of America Holds Annual Stockholder Meeting

Energy Services of America (OTC:ESOA) Corporation (NASDAQ:ESOA), a company specializing in water, sewer, pipeline, and power line construction with a market capitalization of $163 million and impressive 59% return over the past year, held its Annual Meeting of Stockholders on Tuesday, February 19, 2025. According to InvestingPro analysis, the company currently appears overvalued despite maintaining strong financial health metrics and a comfortable current ratio of 1.5. During the meeting, shareholders voted on several key proposals, including the election of directors, ratification of the company’s independent auditor, and advisory resolutions on executive compensation and the frequency of future compensation votes.

The election of directors resulted in the following: Marshall T. Reynolds, Jack M. Reynolds, Joseph L. Williams, Douglas V. Reynolds, Amy E. Abraham, Patrick J. Farrell, Mark S. Prince, and Frank S. Lucente were all elected to the board with a number of votes ranging from 6,087,884 to 8,825,698, with broker non-votes recorded for each candidate.

Shareholders ratified the appointment of Urish Popeck & Co., LLC as the independent registered public auditing firm for the fiscal year ending September 30, 2025, with an overwhelming majority of 12,353,444 votes in favor.

An advisory, non-binding resolution on executive compensation was also passed, with 8,605,502 votes in favor, 218,968 against, and 25,049 abstentions, accompanied by 3,719,583 broker non-votes.

In terms of the frequency of advisory votes on executive compensation, shareholders expressed their preference for annual votes, with 8,452,634 votes supporting this frequency, compared to 31,761 for two years, 334,605 for three years, and 30,519 abstentions, along with 3,719,583 broker non-votes.

In response to the advisory vote on the frequency of executive compensation votes, the Board of Directors decided on the same day of the meeting that the company will hold an advisory non-binding vote on named executive officer compensation every year until at least the Annual Meeting of Stockholders in 2031.

This report is based on a press release statement and reflects the outcomes of the voting matters submitted to the shareholders of Energy Services of America Corporation as per the latest 8-K filing with the SEC. Looking ahead, InvestingPro subscribers can access additional insights, including 8 more exclusive ProTips and detailed financial metrics that suggest strong revenue growth potential, with analysts forecasting 8% growth for fiscal year 2025. Get the complete financial picture with an InvestingPro subscription.

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