Energy and Environmental Services Inc (OTCMKTS:EESE) Stock On Radar After Earnings
On Monday Energy and Environmental Services Inc (OTCMKTS:EESE) was in focus after it announced its financial results for the quarter that had ended on March 31, 2023. It should be noted that the numbers were unaudited. Leon Joyce, the company’s Chief Executive Officer, spoke about the developments as well.
Trading Data
On Monday, EESE stock ended flat at $0.1200 with 5 shares, compared to its average volume 5.38K shares. The stock moved within a range of $0.1200 – 0.1200 after opening trade at $0.1541.
EES Has $6 Million in Q1 Revenues
He noted that 2023 had started on a strong note for Energy and Environmental Services and both sales revenues and gross profits had gone up substantially on a year on year basis. He went on to note that the company performed strongly despite the low prices of oil for the period and stunted spending from oil producers. However, he went on to add that he expected oil prices to rise and consequently higher demand for its products.
The company managed to bring in sales revenues to the tune of $6,051,900, which worked out to a year on year rise of 37.5% from the revenues of $4,400,600 in the prior year period. The gross profits for the quarter came in at $3,174,000, which reflected a year on year rise of as much as 29.5% from the gross profits of $2,450,200 in the prior year period. The operating expenses went up by 20.4% or $447,300 from the figure of $2,188,700 in the prior year quarter.
