Energy and Environmental Services, Inc. Announces Earnings Results for the Second Quarter Ended June 30, 2018; Provides Earnings Guidance for 2018
August 16, 2018 at 03:43 pm EDT
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Energy and Environmental Services, Inc. announced earnings results for the second quarter ended June 30, 2018. For the period, the company reported sales revenues continued to strengthen with an increase of $1,106,600 from $906,900 a year ago to $2,013,500 for the Second Quarter 2018. Gross profit was $1,047,800 against $699,600 a year ago. EBITDA was $167,800 compared to LBITDA $403,400 a year ago. This increase was more than triple over the previous quarter EBITDA of $53,800. Net income was $96,800 compared to net loss of $413,600 a year ago. Cash from operations for the six months ended June 30, 2018 was $2,908,300, which reflects a net decrease of $743,100 from December 31, 2017
The company provides earnings guidance for 2018. For the period, the company expects that it has sufficient capacity to meet its cash needs and will continue to focus on increasing EBITDA. The company believes its revenues will continue to increase and that it can contain its costs and expenses. With stronger revenues, it expects that 2018 will be a profitable year. The company expects that chemical sales will continue to grow with the newly separated product lines, improved customer service and strong oil and gas industry activity.
Energy and Environmental Services, Inc. is engaged in manufacturing specialized liquid and solid chemicals used primarily in the oil and gas industry and high-tech specialized protective coatings for oil and gas and other industrial application. The Companyâs operations are maintained through its wholly owned subsidiaries: Enduro-Tech Energy Services, Inc., Enduro-Bond Manufacturing Company, LLC, EcoZyme System Technologies, LLC, and Patriot Chemicals & Services, LLC. Enduro-Tech Energy Services, Inc. offers custom chemical blending and toll manufacturing designed to meet the needs of project. It serves various industries, including agriculture, livestock feed supplements / products, and malodor elimination.