Energy Services of America (ESOA) 10-K 19 Dec 24 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 18, 2024	Mar. 31, 2024
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-32998
Entity Registrant Name	Energy Services of America CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4606266
Entity Address, Postal Zip Code	25701
Entity Address, Address Line One	75 West 3rd Ave.
Entity Address, City or Town	Huntington
Entity Address, State or Province	WV
City Area Code	304
Local Phone Number	522-3868
Title of 12(g) Security	Common Stock, par value $0.0001per share
Trading Symbol	ESOA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float				$ 92,406,947
Entity Common Stock, Shares Outstanding			16,621,912
Entity Central Index Key	0001357971
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Auditor Name	Urish Popeck & Co., LLC	Baker Tilly US, LLP
Auditor Location	Pittsburgh, PA	Pittsburgh, Pennsylvania
Auditor Firm ID	1013	23

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 12,926,036	$ 16,431,572
Accounts receivable-trade	56,802,844	51,219,958
Allowance for doubtful accounts	(738,526)	(51,063)
Retainages receivable	11,704,281	7,589,749
Other receivables	1,047,952	516,968
Contract assets	24,595,792	15,955,220
Prepaid expenses and other	4,088,550	3,520,178
Total current assets	110,426,929	95,182,582
Property, plant and equipment, at cost	91,885,621	84,329,349
less accumulated depreciation	(53,749,907)	(47,799,840)
Total fixed assets	38,135,714	36,529,509
Right-of-use assets-operating leases	2,531,227	3,326,405
Intangible assets, net	3,065,576	3,383,099
Goodwill	4,087,554	4,087,554
Total assets	158,247,000	142,509,149
Current liabilities
Current maturities of long-term debt	6,372,915	6,107,277
Current maturities of lines of credit and short-term borrowings	10,292,676	19,847,470
Current maturities of operating lease liabilities	907,503	1,075,815
Accounts payable	23,673,659	22,026,639
Accrued expenses and other current liabilities	13,855,533	13,103,944
Contract liabilities	16,950,988	17,743,001
Income tax payable	2,195,278
Total current liabilities	74,248,552	79,904,146
Long-term debt, less current maturities	17,187,992	18,870,529
Long-term operating lease liabilities, less current maturities	1,625,424	2,274,975
Deferred tax liability	6,490,888	6,870,510
Total liabilities	99,552,856	107,920,160
Shareholders' equity
Common stock, $.0001 par value Authorized 50,000,000 shares, 17,860,413 issued and 16,570,685 outstanding at September 30, 2024 and 17,850,012 issued and 16,567,185 outstanding at September 30, 2023	1,790	1,789
Treasury stock, 1,289,728 shares at September 30, 2024 and 1,282,827 at 2023	(133)	(132)
Additional paid in capital	60,282,921	60,288,745
Retained deficit	(1,590,434)	(25,701,413)
Total shareholders' equity	58,694,144	34,588,989
Total liabilities and shareholders' equity	$ 158,247,000	$ 142,509,149

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Sep. 30, 2024	Sep. 30, 2023
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	17,860,413	17,850,012
Common stock, shares outstanding	16,570,685	16,567,185
Treasury stock, shares	1,289,728	1,318,430

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CONSOLIDATED STATEMENTS OF INCOME
Revenue	$ 351,876,861	$ 304,104,492
Cost of revenue	301,922,545	267,291,157
Gross profit	49,954,316	36,813,335
Selling and administrative expenses	30,119,070	23,776,898
Income from operations	19,835,246	13,036,437
Other income (expense)
Interest income		196
Proceeds from lawsuit judgement	15,634,499
Other nonoperating expense	(21,561)	(287,602)
Interest expense	(2,188,609)	(2,406,839)
Gain on sale of equipment	261,102	34,478
Other nonoperating income (expense), Total	13,685,431	(2,659,767)
Income before income taxes	33,520,677	10,376,670
Income tax expense	8,415,667	2,975,250
Net income	$ 25,105,010	$ 7,401,420
Weighted average shares outstanding-basic	16,570,289	16,646,086
Weighted average shares-diluted	16,608,038	16,670,963
Earnings per share available to common shareholders-basic	$ 1.52	$ 0.44
Earnings per share available to common shareholders-diluted	$ 1.51	$ 0.44

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 25,105,010	$ 7,401,420
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	8,539,400	7,316,594
Accreted interest on PPP loans	108,356	99,789
Gain on sale of equipment	(261,102)	(34,478)
Provision for deferred taxes	(379,622)	2,415,431
Provision for bad debts	687,463
Vested restricted stock award compensation	35,556
Amortization of intangible assets	438,623	490,591
Accreted interest on note payable	61,477	54,687
Increase in accounts receivable-trade	(5,582,886)	(12,713,982)
Increase in retainage receivable	(4,114,532)	(3,146,070)
Increase in other receivables	(530,984)	(506,102)
(Increase) decrease in contract assets	(8,640,572)	154,373
(Increase) decrease in prepaid expenses and other	(568,372)	4,237,434
Increase in accounts payable	1,647,020	1,712,231
Increase in accrued expenses and other current liabilities	2,924,182	1,870,432
(Decrease) increase in contract liabilities	(792,013)	11,715,423
Net cash provided by operating activities	18,677,004	21,067,773
Cash flows from investing activities:
Investment in property and equipment	(8,755,349)	(10,822,373)
Acquisition of Heritage Painting	(300,000)
Proceeds from sales of property and equipment	1,058,343	647,111
Net cash used in investing activities	(7,997,006)	(10,175,262)
Cash flows from financing activities:
Proceeds from long-term debt		3,100,000
Borrowings on lines of credit and short term debt, net of (repayments)	(9,663,150)	1,258,271
Treasury stock purchased	(41,380)	(219,615)
Cash dividend on common stock	(994,031)	(833,360)
Principal payments on long-term debt	(3,486,973)	(5,193,709)
Net cash used in financing activities	(14,185,534)	(1,888,413)
(Decrease) increase in cash and cash equivalents	(3,505,536)	9,004,098
Cash and cash equivalents beginning of period	16,431,572	7,427,474
Cash and cash equivalents end of period	12,926,036	16,431,572
Supplemental schedule of noncash investing and financing activities:
Purchases of property & equipment under financing agreements	1,195,682	975,643
Prepaid insurance premiums financed		3,811,644
Line of credit moved to long-term note for equipment purchases	812,915	8,487,085
Additions to operating lease right-of-use assets obtained from operating leases	265,941	2,590,566
Cash paid during the year for:
Interest	2,074,246	2,302,976
Income taxes	$ 7,008,491	$ 28,589

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid in Capital	Retained Deficit	Treasury Stock	Total
Balance at the beginning at Sep. 30, 2022	$ 1,789	$ 60,508,350	$ (32,269,473)	$ (122)	$ 28,240,544
Balance at the beginning (in shares) at Sep. 30, 2022	16,667,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)			138,374		138,374
Balance at the end at Dec. 31, 2022	$ 1,789	60,508,350	(32,131,099)	(122)	28,378,918
Balance at the end (in shares) at Dec. 31, 2022	16,667,185
Balance at the beginning at Sep. 30, 2022	$ 1,789	60,508,350	(32,269,473)	(122)	28,240,544
Balance at the beginning (in shares) at Sep. 30, 2022	16,667,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)					7,401,420
Balance at the end at Sep. 30, 2023	$ 1,789	60,288,745	(25,701,413)	(132)	34,588,989
Balance at the end (in shares) at Sep. 30, 2023	16,567,185
Balance at the beginning at Dec. 31, 2022	$ 1,789	60,508,350	(32,131,099)	(122)	28,378,918
Balance at the beginning (in shares) at Dec. 31, 2022	16,667,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)			(1,873,600)		(1,873,600)
Dividends on common stock			(833,360)		(833,360)
Treasury stock purchased by company		(71,652)		(3)	(71,655)
Treasury stock purchased by company (in shares)	(32,181)
Balance at the end at Mar. 31, 2023	$ 1,789	60,436,698	(34,838,059)	(125)	25,600,303
Balance at the end (in shares) at Mar. 31, 2023	16,635,004
Increase (Decrease) in Stockholders' Equity
Net income (loss)			3,415,546		3,415,546
Treasury stock purchased by company		(147,953)		(7)	(147,960)
Treasury stock purchased by company (in shares)	(67,819)
Balance at the end at Jun. 30, 2023	$ 1,789	60,288,745	(31,422,513)	(132)	28,867,889
Balance at the end (in shares) at Jun. 30, 2023	16,567,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)			5,721,100		5,721,100
Balance at the end at Sep. 30, 2023	$ 1,789	60,288,745	(25,701,413)	(132)	34,588,989
Balance at the end (in shares) at Sep. 30, 2023	16,567,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)			2,042,195		2,042,195
Dividends on common stock			(994,031)		(994,031)
Balance at the end at Dec. 31, 2023	$ 1,789	60,288,745	(24,653,249)	(132)	35,637,153
Balance at the end (in shares) at Dec. 31, 2023	16,567,185
Balance at the beginning at Sep. 30, 2023	$ 1,789	60,288,745	(25,701,413)	(132)	34,588,989
Balance at the beginning (in shares) at Sep. 30, 2023	16,567,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)					25,105,010
Balance at the end at Sep. 30, 2024	$ 1,790	60,282,921	(1,590,434)	(133)	58,694,144
Balance at the end (in shares) at Sep. 30, 2024	16,570,685
Balance at the beginning at Dec. 31, 2023	$ 1,789	60,288,745	(24,653,249)	(132)	35,637,153
Balance at the beginning (in shares) at Dec. 31, 2023	16,567,185
Increase (Decrease) in Stockholders' Equity
Net income (loss)			(1,108,828)		(1,108,828)
Vested restricted stock award	$ 1	35,555			35,556
Vested restricted stock award (in shares)	10,401
Balance at the end at Mar. 31, 2024	$ 1,790	60,324,300	(25,762,077)	(132)	34,563,881
Balance at the end (in shares) at Mar. 31, 2024	16,577,586
Increase (Decrease) in Stockholders' Equity
Net income (loss)			17,513,627		17,513,627
Treasury stock purchased by company		(41,379)		(1)	(41,380)
Treasury stock purchased by company (in shares)	(6,901)
Balance at the end at Jun. 30, 2024	$ 1,790	60,282,921	(8,248,450)	(133)	52,036,128
Balance at the end (in shares) at Jun. 30, 2024	16,570,685
Increase (Decrease) in Stockholders' Equity
Net income (loss)			6,658,016		6,658,016
Balance at the end at Sep. 30, 2024	$ 1,790	$ 60,282,921	$ (1,590,434)	$ (133)	$ 58,694,144
Balance at the end (in shares) at Sep. 30, 2024	16,570,685

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parentheticals) - $ / shares	3 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Dividends on common stock (in dollars per share)	$ 0.06	$ 0.05
Number of common shares	16,567,185	16,667,185

BUSINESS AND ORGANIZATION

BUSINESS AND ORGANIZATION	12 Months Ended
	Sep. 30, 2024
BUSINESS AND ORGANIZATION
BUSINESS AND ORGANIZATION	1. BUSINESS AND ORGANIZATION: Energy Services of America Corporation (“Energy Services” or the “Company”), formed in 2006, is a contractor and service company that operates primarily in the mid-Atlantic and central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. For the gas industry, the Company is primarily engaged in the construction, replacement and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. Energy Services is involved in the construction of both interstate and intrastate pipelines, with an emphasis on the latter. For the oil industry, the Company provides a variety of services relating to pipeline, storage facilities and plant work. For the power, chemical, and automotive industries, the Company provides a full range of electrical and mechanical installations and repairs including substation and switchyard services, site preparation, equipment setting, pipe fabrication and installation, packaged buildings, transformers, and other ancillary work with regards thereto. Energy Services’ other pipeline services include corrosion protection services, horizontal drilling services, liquid pipeline construction, pump station construction, production facility construction, water and sewer pipeline installations, various maintenance and repair services and other services related to pipeline construction. The Company has also added the ability to install broadband and solar electric systems and perform civil and general contracting services. The Company had consolidated operating revenues of $351.9 million for the fiscal year ended September 30, 2024, of which 53.2 % was attributable to electrical, mechanical, and general contract services, 23.5 % to gas and petroleum transmission projects, and 23.3 % to gas & water distributions services. The Company had consolidated operating revenues of $304.1 million for the fiscal year ended September 30, 2023, of which 48.8 % was attributable to electrical, mechanical, and general contract services, 30.3 % to gas and petroleum transmission projects, and 20.9 % to gas & water distributions services .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition The Company recognizes revenue as performance obligations are satisfied and control of the promised goods and service is transferred to the customer. For Lump Sum and Unit Price contracts, revenue is ordinarily recognized over time as control is transferred to the customers by measuring the progress toward complete satisfaction of the performance obligation(s) using an input (i.e., “cost to cost”) method. For Cost Plus and Time and Material (“T&M”) contracts, revenue is ordinarily recognized over time as control is transferred to the customers by measuring the progress toward satisfaction of the performance obligation(s) using an output method. The Company does have certain service and maintenance contracts in which each customer purchase order is considered its own performance obligation recognized over time and would be recognized depending on the type of contract mentioned above. The Company also does certain T&M service work that is generally completed in a short duration and is recognized at a point in time. All contract costs, including those associated with affirmative claims, change orders and back charges, are recorded as incurred and revisions to estimated total costs are reflected as soon as the obligation to perform is determined. Contract costs consist of direct costs on contracts, including labor and materials, amounts payable to subcontractors and outside equipment providers, direct overhead costs and internal equipment expense (primarily depreciation, fuel, maintenance, and repairs). The Company recognizes revenue, but not profit, on certain uninstalled materials. Revenue on these uninstalled materials is recognized when the cost is incurred (when control is transferred), but the associated profit is not recognized until the materials are installed. The costs of uninstalled materials are tracked separately within the Company’s accounting software. Pre-contract and bond costs, if required, and mobilization costs on projects are generally immaterial to the total value of the Company’s contracts and are expensed when incurred. As a practical expedient, the Company recognizes these incremental costs as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. For projects expected to last greater than one year, mobilization costs are capitalized as incurred and amortized over the expected duration of the project. For these projects, mobilization costs will be tracked separately in the Company’s accounting software. This includes costs associated with setting up a project lot or lay-down yard, equipment, tool and supply transportation, temporary facilities and utilities and worker qualification and safety training. Contracts may require the Company to warranty that work is performed in accordance with the contract; however, the warranty is not priced separately, and the Company does not offer customers an option to purchase a warranty. Principles of Consolidation The consolidated financial statements of Energy Services include the accounts of Energy Services, its wholly owned subsidiaries West Virginia Pipeline, SQP, Ryan Construction, Tri-State Paving and C.J. Hughes and its subsidiaries, Contractors Rental, Nitro, and Pinnacle. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services, West Virginia Pipeline, SQP, Ryan Construction, Tri-State Paving and C.J. Hughes and its subsidiaries. ​ Use of Estimates and Assumptions The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“U.S.GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and loss during the reporting period. Actual results could differ materially from those estimates. Cash and Cash Equivalents Energy Services considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Fair Value Measurements The “Fair Value Measurement” Topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP and specifies disclosures about fair value measurements. Under the FASB’s authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The “Fair Value Measurement” Topic establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 Level 2 Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The carrying amount for borrowings under the Company’s revolving credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. The fair value of the Company’s long term fixed-rate debt was estimated using a discounted cash flow analysis and a yield rate that was estimated based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $25.6 million at September 30, 2024 was $24.7 million. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $33.8 million at September 30, 2023 was $32.1 million. All other current assets and liabilities are carried at a net realizable value which approximates fair value because of their short duration to maturity. Accounts Receivable and Allowance for Doubtful Accounts The Company’s accounts receivable consists of amounts that have been billed to customers. Collateral is generally not required. A majority of the Company’s contracts have monthly billing terms and payment terms within 30 to 45 days after invoices have been issued. The Company attempts to negotiate two-week billing terms and 15-day payment terms on larger projects. The timing of billings to customers may generate contract assets or contract liabilities. Certain construction contracts include retention provisions to provide assurance to our customers that we will perform in accordance with the contract terms and are therefore not considered a financing benefit. The balances billed but not paid by customers pursuant to these provisions generally become due upon completion and acceptance of the project work or products by the customer. We have determined there are no significant financing components in our contracts as of and for the years ended September 30, 2024 and 2023. Retainage billed but not paid pursuant to contract provisions will be due upon completion of the contracts. Based on the Company’s experience, management considers all amounts classified as retainage receivable to be collectible. A majority of retainage receivable amounts are expected to be collected within the next fiscal year. The Company provides an allowance for doubtful accounts when collection of an account or note receivable is considered doubtful, and receivables are written off against the allowance when deemed uncollectible. Inherent in the assessment of the allowance for doubtful accounts are certain judgments and estimates including, among others, the customer’s access to capital, the customer’s willingness or ability to pay, general economic conditions and the ongoing relationship with the customer. Property and Equipment Property and equipment are recorded at cost. Costs which extend the useful lives or increase the productivity of the assets are capitalized, while normal repairs and maintenance that do not extend the useful life or increase productivity of the asset are expensed as incurred. Property and equipment are depreciated principally on the straight-line method over the estimated useful lives of the assets: buildings 39 years; operating equipment and vehicles 5-7 years; and office equipment, furniture and fixtures 5-7 years. Intangible Assets Acquired intangible assets subject to amortization are amortized on a straight-line basis, which approximates the pattern in which the economic benefit of the respective intangible assets is realized, over their respective estimated useful lives. The definite-lived identifiable intangible assets recognized as part of the Company’s business combinations were initially recorded at their estimated fair value. Impairment of Long-Lived Assets A long-lived asset shall be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to market value is required. Claims Claims are amounts in excess of the agreed contract price that a contractor seeks to collect from customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders in dispute or unapproved as to both scope and price, or other causes of unanticipated additional costs. The Company records revenue on claims that management believes are probable. Revenue from a claim is recorded only to the extent that contract costs relating to the claim have been incurred. Self -Insurance The Company has its workers compensation, general liability and auto insurance through a captive insurance company. While the Company believes that this arrangement has been very beneficial in reducing and stabilizing insurance costs, the Company has to maintain a surety deposit to guarantee payment of premiums. The surety deposit had a balance of $2.0 million and $1.9 million as of September 30, 2024 and 2023, respectively, which is in “Prepaid expenses and other” on the Company’s Consolidated Balance Sheets. Should the captive experience severe losses over an extended period, it could increase the Company’s insurance expense or surety deposit required. Advertising All advertising costs are expensed as incurred. Total advertising expenses were $279,000 and $138,000 for the years ended September 30, 2024 and 2023, respectively. Stock Compensation Plans The Company accounts for its equity-based compensation as prescribed by U.S. GAAP for share-based payments. The Company has adopted a fair value-based method of accounting for employee equity-based plans, whereby compensation cost is measured at the grant date based on the fair value of the award and is recognized over the service period, which is usually the vesting period. As a result, compensation expense relating to stock compensation plans will be reflected in net income as part of “Selling and administrative expenses” on the consolidated statements of income. Income Taxes The Company and all subsidiaries file a consolidated federal and various state income tax returns on a fiscal year basis. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations for years ending prior to September 30, 2021. The Company follows the liability method of accounting for income taxes in accordance with U.S. GAAP. Under this method, deferred tax assets and liabilities are recorded for future tax consequences of temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the underlying assets or liabilities are recovered or settled. A valuation allowance is established to reduce deferred tax assets if it is more likely than not that a deferred tax asset will not be realized. U.S. GAAP also prescribes a comprehensive model for how companies should recognize, measure, present and disclose in their financial statements uncertain tax positions taken or to be taken on a tax return. This evaluation is a two-step process. First, the recognition process determines if it is more likely than not that a tax position will be sustained based on the merits of the tax position upon examination by the appropriate taxing authority. Second, a measurement process is calculated to determine the amount of benefit/expense to recognize in the financial statements if a tax position meets the more likely than not recognition threshold. The tax position is measured at the greatest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement. Any interest and penalty related to the unrecognized tax benefits, as the result of recognition of tax obligations resulting from uncertain tax positions, are included in general and administrative expenses. The Company had not recognized any uncertain tax positions at September 30, 2024 or 2023. Earnings Per Common Share Basic earnings per share is computed using the weighted average number of common shares outstanding during the year, and diluted earnings per share is computed using the weighted average number of common shares outstanding during the year adjusted for all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive. Collective Bargaining Agreements Certain Energy Services subsidiaries are party to collective bargaining agreements with unions representing members that are employed by the Company. The agreements require such subsidiaries to pay specified wages and provide certain benefits to the union employees. These agreements expire at various times and have typically been renegotiated and renewed on terms that are similar to the ones contained in the expiring agreements. Under certain collective bargaining agreements, the applicable Energy Services subsidiary is required to make contributions to multi-employer pension plans. If the subsidiary were to cease participation in one or more of these plans, a liability could potentially be assessed related to any underfunding of these plans. The amount of such an assessment, were one to be made, cannot be reasonably estimated. Litigation Costs The Company recognizes reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Litigation costs are expensed as incurred. Treasury Stock When the Company’s stock is retired or repurchased for constructive retirement (with or without an intention to retire the stock formally in accordance with applicable laws), an excess of par or stated value over the cost of treasury shares is credited to additional paid-in capital. New Accounting Pronouncements On October 28, 2021, the Financial Accounting Standards Board (“FASB”) released Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

ACCOUNTING FOR PPP LOANS

ACCOUNTING FOR PPP LOANS	12 Months Ended
	Sep. 30, 2024
ACCOUNTING FOR PPP LOANS
ACCOUNTING FOR PPP LOANS	3. ACCOUNTING FOR PPP LOANS Due to the economic uncertainties created by COVID-19 and limited operating funds available, the Company applied for loans under the PPP. On April 15, 2020, the Company and its subsidiaries, C.J. Hughes, Contractors Rental and Nitro, entered into separate PPP notes effective April 7, 2020, with its Lender in an aggregate principal amount of $13.1 million pursuant to the PPP Loans. In a special meeting held on April 27, 2020, the Board of Directors of the Company unanimously voted to return $3.3 million of the PPP Loans after discussing the financing needs of the Company and subsidiaries. That left the Company and subsidiaries with $9.8 million in PPP Loans to fund operations. During fiscal year 2021, the Company received notice that the SBA had granted forgiveness of the $9.8 million of PPP Loans and the SBA repaid the Lender in full. The forgiveness was recorded as other income for the fiscal year ended September 30, 2021. During April 2023, management received notification from the SBA that one of the Company’s forgiveness applications related to the PPP Loans was under review. As part of the review, the SBA requested additional payroll information. Additionally, the SBA requested information regarding the ability of the Company’s affiliates to meet SBA size standards and/or PPP corporate maximum limits. The requested information was subsequently provided to the SBA through the Lender. The Company recognizes that there is a possibility that the SBA could reverse its previous determination on the forgiveness of the PPP Loans. As a result of this uncertainty, the Company restated the previously issued financial statements of the Company that were included in the Reports. The Company has recorded a short-term borrowing due to the SBA inquiry for the full $9.8 million, plus accrued interest for all periods presented. During July 2023, management received notification from the SBA that two additional forgiveness applications related to the PPP Loans were under review. As part of the review, the SBA requested information regarding the ability of the Company’s affiliates to meet SBA size standards and/or PPP corporate maximum limits. The requested information was subsequently provided to the SBA through the Lender. Borrowers must retain PPP documentation for at least six years after the date the loan is forgiven or paid in full, and the SBA and SBA Inspector General must be granted these files upon request. The SBA could revisit its forgiveness decision and determine that the Company does not qualify in whole or in part for loan forgiveness and demand repayment of the loans. In addition, it is unknown what type of penalties could be assessed against the Company if the SBA disagrees with the Company’s certification. Any penalties in addition to the potential repayment of the PPP Loans could negatively impact the Company’s business, financial condition and results of operations and prospects.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Sep. 30, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	4. REVENUE RECOGNITION Our revenue is primarily derived from construction contracts that can span several quarters. We recognize revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers 1. Identify the contract 2. Identify performance obligations 3. Determine the transaction price 4. Allocate the transaction price 5. Recognize revenue The accuracy of our revenue and profit recognition in a given period depends on the accuracy of our estimates of the cost to complete each project. We believe our experience allows us to create materially reliable estimates. There are a number of factors that can contribute to changes in estimates of contract cost and profitability. The most significant of these include: ● the completeness and accuracy of the original bid; ● costs associated with scope changes; ● changes in costs of labor and/or materials; ● extended overhead and other costs due to owner, weather and other delays; ● subcontractor performance issues; ● changes in productivity expectations; ● site conditions that differ from those assumed in the original bid; ● changes from original design on design-build projects; ● the availability and skill level of workers in the geographic location of the project; ● a change in the availability and proximity of equipment and materials; ● our ability to fully and promptly recover on affirmative claims and back charges for additional contract costs; and ● the customer’s ability to properly administer the contract. The foregoing factors, as well as the stage of completion of contracts in process and the mix of contracts at different margins may cause fluctuations in gross profit from period to period. Significant changes in cost estimates, particularly in our larger, more complex projects, could have a significant effect on our profitability. Our contract assets include cost and estimated earnings in excess of billings that represent amounts earned and reimbursable under contracts, including claim recovery estimates, but have a conditional right for billing and payment such as achievement of milestones or completion of the project. Except for customer affirmative claims, generally, such unbilled amounts will become billable according to the contract terms and generally will be billed and collected over the next three months. Settlement with the customer of outstanding affirmative claims is dependent on the claims resolution process and could extend beyond one year. Based on our historical experience, we generally consider the collection risk related to billable amounts to be low. When events or conditions indicate that it is probable that the amounts outstanding become unbillable, the transaction price and associated contract asset is reduced. Our contract liabilities consist of provisions for losses and billings in excess of costs and estimated earnings. Provisions for losses, if incurred, are recognized in the consolidated statements of income at the uncompleted performance obligation level for total estimated losses in the period that evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. Billings in excess of costs and estimated earnings are billings to customers on contracts in advance of work performed, including advance payments negotiated as a contract condition. Generally, unearned project-related costs will be earned over the next twelve months.

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	12 Months Ended
	Sep. 30, 2024
DISAGGREGATION OF REVENUE
DISAGGREGATION OF REVENUE	5 . DISAGGREGATION OF REVENUE The Company disaggregates revenue based on the following lines of service: (1) Gas & Water Distribution, (2) Gas & Petroleum Transmission, and (3) Electrical, Mechanical, & General services and construction. Certain reclassifications have been made to the year ended September 30, 2023, to reflect the current presentation. Our contract types are: Lump Sum, Unit Price, Cost Plus and T&M. The following tables present our disaggregated revenue for the fiscal years ended September 30, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ Electrical, ​ ​ ​ ​ Gas & Water Gas & Petroleum Mechanical, Total revenue ​ ​ Distribution ​ Transmission ​ & General ​ from contracts Lump sum contracts ​ $ — ​ $ — ​ $ 121,997,872 ​ $ 121,997,872 Unit price contracts ​ 82,426,199 ​ 71,265,020 ​ 4,141,938 ​ 157,833,157 Cost plus and T&M contracts ​ — ​ 9,790,155 ​ 62,255,677 ​ 72,045,832 Total revenue from contracts ​ $ 82,426,199 ​ $ 81,055,175 ​ $ 188,395,487 ​ $ 351,876,861 ​ ​ ​ ​ ​ Earned over time ​ $ 9,541,650 ​ $ 71,265,020 ​ $ 133,898,665 ​ $ 214,705,335 Earned at point in time ​ 72,884,549 ​ 9,790,155 ​ 54,496,822 ​ 137,171,526 Total revenue from contracts ​ $ 82,426,199 ​ $ 81,055,175 ​ $ 188,395,487 ​ $ 351,876,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Electrical, ​ ​ ​ ​ ​ Gas & Water ​ Gas & Petroleum ​ Mechanical, ​ Total revenue ​ Distribution Transmission & General from contracts Lump sum contracts ​ $ — ​ $ — ​ $ 101,700,805 ​ $ 101,700,805 Unit price contracts ​ 68,066,230 ​ 86,738,111 ​ 6,110,395 ​ 160,914,736 Cost plus and T&M contracts ​ — ​ 609,184 ​ 40,879,767 ​ 41,488,951 Total revenue from contracts ​ $ 68,066,230 ​ $ 87,347,295 ​ $ 148,690,967 ​ $ 304,104,492 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earned over time ​ $ 25,184,336 ​ $ 86,738,111 ​ $ 107,674,083 ​ $ 219,596,530 Earned at point in time ​ 42,881,894 ​ 609,184 ​ 41,016,884 ​ 84,507,962 Total revenue from contracts ​ $ 68,066,230 ​ $ 87,347,295 ​ $ 148,690,967 ​ $ 304,104,492 ​

CONTRACT BALANCES

CONTRACT BALANCES	12 Months Ended
	Sep. 30, 2024
CONTRACT BALANCES
CONTRACT BALANCES	6 . CONTRACT BALANCES The Company’s accounts receivable consists of amounts that have been billed to customers and collateral is generally not required. Most of the Company’s contracts have monthly billing terms; however, billing terms for some are based on project completion. Payment terms are generally within 30 to 45 days after invoices have been issued. The Company attempts to negotiate two-week billing terms and 15-day payment terms on larger projects. The timing of billings to customers may generate contract assets or contract liabilities. During the twelve months ended September 30, 2024, we recognized revenue of $16.5 million that was included in the contract liability balance at September 30, 2023. Accounts receivable-trade, net of allowance for doubtful accounts, contract assets and contract liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 September 30, 2023 Change ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable-trade, net of allowance for doubtful accounts ​ $ 56,064,318 ​ $ 51,168,895 ​ $ 4,895,423 ​ ​ ​ ​ ​ ​ ​ Contract assets ​ ​ ​ ​ ​ ​ Cost and estimated earnings in excess of billings ​ $ 24,595,792 ​ $ 15,955,220 ​ $ 8,640,572 ​ ​ ​ ​ ​ ​ ​ Contract liabilities ​ ​ ​ ​ ​ ​ Billings in excess of cost and estimated earnings ​ $ 16,950,988 ​ $ 17,743,001 ​ $ (792,013) ​

PERFORMANCE OBLIGATIONS

PERFORMANCE OBLIGATIONS	12 Months Ended
	Sep. 30, 2024
PERFORMANCE OBLIGATIONS
PERFORMANCE OBLIGATIONS	7. PERFORMANCE OBLIGATIONS The changes in contract transaction price can occur from items such as executed or estimated change orders, and unresolved contract modifications and claims. For the year ended September 30, 2024, there was no significant amount of revenue recognized as a result of changes in contract transaction price related to performance obligations that were satisfied prior to September 30, 2023. For the year ended September 30, 2023, there was no significant amount of revenue recognized as a result of changes in contract transaction price related to performance obligations that were satisfied prior to September 30, 2022. At September 30, 2024, the Company had $158.6 million in remaining unsatisfied performance obligations, in which revenue is expected to be recognized in less than twelve months.

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS	12 Months Ended
	Sep. 30, 2024
ALLOWANCE FOR DOUBTFUL ACCOUNTS
ALLOWANCE FOR DOUBTFUL ACCOUNTS	8. ALLOWANCE FOR DOUBTFUL ACCOUNTS Activity in the Company’s allowance for doubtful accounts consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 51,063 ​ $ 70,310 Charged to expense ​ 687,463 ​ — Deductions for uncollectible receivables written off, net of recoveries ​ — ​ (19,247) Balance at end of period ​ $ 738,526 ​ $ 51,063 ​

UNCOMPLETED CONTRACTS

UNCOMPLETED CONTRACTS	12 Months Ended
	Sep. 30, 2024
UNCOMPLETED CONTRACTS
UNCOMPLETED CONTRACTS	9. UNCOMPLETED CONTRACTS Costs and estimated earnings in excess of billings on uncompleted contracts are included in contract assets on the Consolidated Balance Sheets. Billings in excess of costs and estimated earnings on uncompleted contracts are included in contract liabilities on the Consolidated Balance Sheets. Costs, estimated earnings, and billings on uncompleted contracts are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, September 30, ​ 2024 2023 Costs incurred on contracts in progress ​ $ 347,180,901 ​ $ 287,347,650 Estimated earnings, net of estimated losses ​ 59,349,378 ​ 38,976,895 ​ ​ 406,530,279 ​ 326,324,545 Less billings to date ​ 398,885,475 ​ 328,112,326 ​ ​ $ 7,644,804 ​ $ (1,787,781) ​ ​ ​ ​ ​ Costs and estimated earnings in excess of billed on uncompleted contracts ​ $ 24,595,792 ​ $ 15,955,220 Less billings in excess of costs and estimated earnings on uncompleted contracts ​ 16,950,988 ​ 17,743,001 ​ ​ $ 7,644,804 ​ $ (1,787,781) ​ The Company’s unaudited backlog at September 30, 2024, and September 30, 2023, was $243.2 million and $229.8 million, respectively.

CLAIMS

CLAIMS	12 Months Ended
	Sep. 30, 2024
CLAIMS
CLAIMS	10. CLAIMS The Company does not have any claims receivable as of September 30, 2024 and 2023. Claims receivable is a component of contract assets.

PROVISION FOR LOSS

PROVISION FOR LOSS	12 Months Ended
	Sep. 30, 2024
PROVISION FOR LOSS
PROVISION FOR LOSS	11. PROVISION FOR LOSS The Company did not have a provision for loss at the fiscal years ended September 30, 2024 and 2023.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Sep. 30, 2024
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	12. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Land ​ $ 3,258,838 ​ $ 2,974,354 Buildings and leasehold improvements ​ 11,534,943 ​ 10,000,570 Operating equipment and vehicles ​ 75,768,103 ​ 70,126,093 Office equipment, furniture and fixtures ​ 1,235,965 ​ 1,225,570 Assets not yet in service ​ 87,772 ​ 2,762 ​ ​ 91,885,621 ​ 84,329,349 Less accumulated depreciation ​ 53,749,907 ​ 47,799,840 Property, plant and equipment, net ​ $ 38,135,714 ​ $ 36,529,509 ​

SHORT-TERM DEBT

SHORT-TERM DEBT	12 Months Ended
	Sep. 30, 2024
SHORT-TERM DEBT
SHORT-TERM DEBT	13. SHORT-TERM DEBT Operating Line of Credit On August 8, 2024, the Company renewed its $30.0 million line of credit with a maturity date of June 28, 2026. The interest rate on the line of credit is the “ Wall Street Journal The line of credit is limited to a borrowing base calculation as summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 September 30, 2023 Eligible borrowing base ​ $ 25,089,446 ​ $ 23,942,868 ​ ​ ​ ​ ​ ​ ​ ​ Borrowed on line of credit ​ 4,500,000 ​ 8,712,915 ​ ​ ​ ​ ​ ​ ​ ​ ​ Line of credit balance available ​ $ 20,589,446 ​ $ 15,229,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate ​ 8.0 % 8.5 % ​ The Company’s $4.5 million line of credit borrowing is recorded as a long-term debt as of September 30, 2024, as compared an $8.7 million short-term borrowing at September 30, 2023. The modified financial covenants for the quarter ended June 30, 2023, and all subsequent quarters, are below: ● Minimum tangible net worth of $28.0 million, ● Minimum traditional debt service coverage of 1.50x on a rolling twelve- month basis, ● Minimum current ratio of 1.20x , ● Maximum debt to tangible net worth ratio (“TNW”) of 2.75x , ● Each ratio and covenant shall be determined, tested, and measured as of each calendar quarter beginning June 30, 2023, ● The Company shall maintain a ratio of Maximum Senior Funded Debt (“SFD”) to Earnings before Interest, Taxes, Depreciation and Amortization (“EBDITA”) equal to or less than 3.5 :1. SFD shall mean any funded debt or lease of the Company, other than subordinated debt. The covenant shall be tested quarterly, at the end of each fiscal quarter, with EBITDA based on the preceding four quarters. The Company’s lender has agreed to omit the effect of the PPP loan restatement from the Company’s covenant compliance calculations while a final decision on PPP loan forgiveness remains in question. Thus, the Company was in compliance with all covenants at September 30, 2024. Insurance Premiums Financed The Company had previously financed insurance policy premiums on a short-term basis through a financing company prior to beginning to make quarterly installment payments for calendar year 2024. These insurance policies include workers’ compensation, general liability, automobile, umbrella, and equipment policies. At September 30, 2024 and September 30, 2023, the remaining balance of the insurance premiums was $0 and $950,000, respectively. Paycheck Protection Program Loans Due to the economic uncertainties created by COVID-19 and limited operating funds available, the Company applied for loans under the PPP. On April 15, 2020, the Company and its subsidiaries, C.J. Hughes, Contractors Rental and Nitro, entered into separate PPP notes effective April 7, 2020, with its Lender in an aggregate principal amount of $13.1 million pursuant to the PPP Loans. In a special meeting held on April 27, 2020, the Board of Directors of the Company unanimously voted to return $3.3 million of the PPP Loans after discussing the financing needs of the Company and subsidiaries. That left the Company and subsidiaries with $9.8 million in PPP Loans to fund operations. During fiscal year 2021, the Company received notice that the SBA had granted forgiveness of the $9.8 million of PPP Loans and the SBA repaid the Lender in full. The forgiveness was recorded as other income for the fiscal year ended September 30, 2021. During April 2023, management received notification from the SBA that one of the Company’s forgiveness applications related to the PPP Loans was under review. As part of the review, the SBA requested additional payroll information. Additionally, the SBA requested information regarding the ability of the Company’s affiliates to meet SBA size standards and/or PPP corporate maximum limits. The requested information was subsequently provided to the SBA through the Lender. The Company recognizes that there is a possibility that the SBA could reverse its previous determination on the forgiveness of the PPP Loans. As a result of this uncertainty, the Company restated the previously issued audited financial statements of the Company for fiscal 2022 and 2021. The Company has recorded a short-term borrowing due to the SBA inquiry for the full $9.8 million, plus accrued interest. During July 2023, management received notification from the SBA that two additional forgiveness applications related to the PPP Loans were under review. As part of the review, the SBA requested information regarding the ability of the Company’s affiliates to meet SBA size standards and/or PPP corporate maximum limits. The requested information was subsequently provided to the SBA through the Lender. Borrowers must retain PPP documentation for at least six years after the date the loan is forgiven or paid in full, and the SBA and SBA Inspector General must be granted these files upon request. The SBA could revisit its forgiveness decision and determine that the Company does not qualify in whole or in part for loan forgiveness and demand repayment of the loans. In addition, it is unknown what type of penalties could be assessed against the Company if the SBA disagrees with the Company’s certification. Any penalties in addition to the potential repayment of the PPP Loans could negatively impact the Company’s business, financial condition and results of operations and prospects.

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	12 Months Ended
	Sep. 30, 2024
SHORT-TERM AND LONG-TERM DEBT
SHORT-TERM AND LONG-TERM DEBT	14. SHORT-TERM AND LONG-TERM DEBT A summary of short-term and long-term debt as of September 30, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Line of credit payable to bank, monthly interest at 8.0%, final payment due by June 28, 2025, guaranteed by certain directors of the Company. ​ $ 4,500,000 ​ $ 8,712,915 ​ ​ ​ ​ ​ Equipment line of credit with a total of $9.3 million and $8.5 million of $9.3 million available borrowed at June 30, 2024 and September 30, 2023, respectively, fixed interest at 7.25% of outstanding balance due in monthly installments between June 1, 2023 and December 1, 2023. Payments of $202,809 due in monthly installments, including fixed interest at 7.25%, beginning January 2024 with final payment due February 2028, secured by equipment, guaranteed by certain directors of the Company. ​ ​ 7,802,313 ​ ​ 8,487,085 ​ ​ ​ ​ ​ ​ ​ Paycheck Protection Program loans from Small Business Administration, 1.0% simple interest, initially forgiven in the fiscal year ended September 30, 2021. Final forgiveness decision has not been determined. ​ ​ 10,292,676 ​ ​ 10,184,320 ​ ​ ​ ​ ​ ​ ​ Term note payable to United Bank, WV Pipeline acquisition, due in monthly installments of $64,853 interest at 4.25%, final payment due by March 25, 2026, secured by receivables and equipment, guaranteed by certain directors of the Company. ​ 1,134,185 ​ 1,790,051 ​ ​ ​ ​ ​ Notes payable to finance companies, due in monthly installments totaling $76,000 at September 30, 2024 and $50,000 at September 30, 2023, including interest ranging from 0.00% to 6.0%, final payments due October 2024 through August 2026, secured by equipment. ​ 1,787,009 ​ 1,290,148 ​ ​ ​ ​ ​ Note payable to finance company for insurance premiums financed, due in monthly installments totaling $327,000 in calendar year 2023 and $282,000 in calendar year 2022, including interest rate at 6.70%, final payment due December 2023. ​ — ​ 950,235 ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling , final payment due November 2034 secured by building and property. ​ ​ 762,670 ​ ​ 813,242 ​ ​ ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling $12,580, including interest at 9.5%, final payment due November 2025 secured by building and property, guaranteed by certain directors of the Company. ​ — ​ 294,761 ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling $59,932, including fixed interest at 6.0%, final payment due October 2027 secured by receivables and equipment, guaranteed by certain directors of the Company. ​ ​ 2,024,847 ​ ​ 2,601,404 ​ ​ ​ Notes payable to David Bolton and Daniel Bolton, due in annual installments totaling $500,000, including interest at 3.25%, final payment due December 31, 2026, unsecured. ​ 940,000 ​ 1,660,000 ​ ​ ​ ​ ​ Notes payable to bank, interest at 4.25% of outstanding balance due in monthly installments between January 2021 and January 2022 with note payments beginning February 2022. Payments due in monthly installments totaling $68,150, including interest at 9.5%, final payment due January 2026, secured by equipment, guaranteed by certain directors of the Company. ​ — ​ 1,873,831 ​ ​ ​ ​ ​ Term note payable to United Bank, Tri-State Paving acquisition, due in monthly installments of $129,910, including interest at 4.50%, final payment due by June 1, 2027, secured by receivables and equipment, guaranteed by certain directors of the Company. ​ ​ 4,359,883 ​ ​ 5,698,761 ​ ​ ​ ​ ​ ​ ​ Notes payable to Corns Enterprises, $1,000,000 with fair value of $936,000, due in annual installments totaling $250,000, including interest at 3.50%, final payment due April 29, 2026, unsecured. ​ ​ 250,000 ​ ​ 468,523 ​ ​ ​ ​ ​ ​ ​ Total debt ​ $ 33,853,583 ​ $ 44,825,276 ​ ​ ​ ​ ​ Less current maturities ​ 16,665,591 ​ 25,954,747 ​ ​ ​ ​ ​ Total long-term debt ​ $ 17,187,992 ​ $ 18,870,529 ​ At September 30, 2024, future expected payments due on short-term and long-term debt are as follows: ​ ​ ​ ​ ​ 2025 $ 16,665,591 2026 ​ 10,238,734 2027 ​ 4,591,906 2028 ​ 1,775,120 2029 ​ 62,726 Thereafter ​ 519,506 ​ ​ $ 33,853,583 ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2024
INCOME TAXES
INCOME TAXES	15. INCOME TAXES The components of income taxes are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Federal ​ ​ ​ ​ ​ ​ Current ​ $ 7,218,772 ​ $ 432,251 Deferred ​ (364,036) ​ 1,865,019 Total ​ 6,854,736 ​ 2,297,270 ​ ​ ​ ​ ​ State ​ ​ ​ ​ Current ​ 1,576,518 ​ 127,568 Deferred ​ (15,587) ​ 550,412 Total ​ 1,560,931 ​ 677,980 ​ ​ ​ ​ ​ Total income tax expense (benefit) ​ $ 8,415,667 ​ $ 2,975,250 ​ The Company’s income tax expense and deferred tax assets and liabilities reflect management’s best estimate of current and future taxes to be paid. Significant judgments and estimates are required in the determination of the consolidated income tax expense. The Company’s provision for income taxes is computed by applying a federal rate of 21.0% and a blended state rate of approximately 5.0% to 6.0% to taxable income or loss after consideration of non-taxable and non-deductible items. The income tax expense for the fiscal year ended September 30, 2024 was $8.4 million as compared to $3.0 million for the fiscal year ended September 30, 2023. The increase was due to an increase in taxable income for the fiscal year ended September 30, 2024, as compared to the fiscal year ended September 30, 2023. The effective income tax rate for the fiscal year ended September 30, 2024 was 25.1%, as compared to an effective income tax rate of 28.7% for the fiscal year ended September 30, 2023. Effective income tax rates are estimates and may vary from period to period due to changes in the amount of taxable income or loss, non-taxable and non-deductible expenses. ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended ​ ​ September 30, 2024 September 30, 2023 ​ ​ ​ ​ ​ ​ Statutory rate 21.0 % 21.0 % State income taxes 4.7 % 6.0 % Meals and other (0.6) % 1.7 % Effective tax rate ​ 25.1 % 28.7 % ​ Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements, which will result in taxable or deductible amounts in the future. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company had $0 and $3.0 million of federal net operating loss carryforwards at September 30, 2024 and 2023, respectively. The Company had $20.5 million and $23.3 million of state net operating loss carryforwards at September 30, 2024 and 2023, respectively. The state net operating loss carryforwards begin to expire in 2025. The income tax effects of temporary differences giving rise to the deferred tax assets and liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 Deferred tax liabilities ​ ​ ​ ​ ​ ​ Property and equipment ​ $ 7,437,645 ​ $ 8,141,025 Other ​ ​ 1,509,487 ​ ​ 588,632 Total deferred tax liabilities ​ $ 8,947,132 ​ $ 8,729,657 ​ ​ ​ ​ ​ ​ ​ Deferred income tax assets ​ ​ Accruals & Other ​ $ 2,325,671 ​ $ 948,704 Net operating loss carryforward-States ​ ​ 663,548 ​ ​ 910,443 Net operating loss valuation allowance-States ​ ​ (532,975) ​ ​ — Total deferred tax assets ​ $ 2,456,244 ​ $ 1,859,147 ​ ​ ​ ​ ​ ​ ​ Total net deferred tax liabilities ​ $ 6,490,888 ​ $ 6,870,510 ​ The Company does not believe that it has any unrecognized tax benefits included in its consolidated financial statements that require recognition. The Company has not had any settlements in the current period with taxing authorities, nor has it recognized tax benefits as a result of a lapse of the applicable statute of limitations. The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in general and administrative expenses.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Sep. 30, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	16. EARNINGS PER SHARE Earnings per share for the years ended September 30, 2024, and 2023 are as follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 25,105,010 ​ $ 7,401,420 ​ ​ ​ ​ ​ Weighted average shares outstanding-basic ​ 16,570,289 ​ 16,646,086 ​ ​ ​ ​ ​ Weighted average shares outstanding-diluted ​ 16,608,038 ​ 16,670,963 ​ ​ ​ ​ ​ Earnings per share available to common shareholders ​ $ 1.52 ​ $ 0.44 ​ ​ ​ ​ ​ Earnings per share available to common shareholders-diluted ​ $ 1.51 ​ $ 0.44 ​ The diluted weighted average shares outstanding calculation included a 37,749 dilutive effect for 51,227 unvested restricted stock awards.

STOCK REPURCHASE PLAN

STOCK REPURCHASE PLAN	12 Months Ended
	Sep. 30, 2024
STOCK REPURCHASE PLAN
STOCK REPURCHASE PLAN	17. STOCK REPURCHASE PLAN On July 6, 2022, the Company’s Board of Directors authorized a share repurchase program (the “Program”), pursuant to which the Company may, from time to time, purchase shares of its common stock for an aggregate repurchase not to exceed 1,000,000 shares, which is approximately 6.0% of its outstanding common stock. The Program, which started on August 16, 2022 and has no expiration date, does not obligate the Company to purchase any number of shares, and there is no guarantee as to the exact number of shares to be repurchased by the Company. The repurchases of Energy Services of America Corporation’s shares of its common stock during the twelve months ended September 30, 2024 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ Maximum Number of ​ ​ Number of ​ Average ​ Value of Shares Purchased ​ Shares That May Yet Be ​ ​ Shares ​ Price Paid ​ as Part of Publicly Announced ​ Purchased Under Period ​ Purchased ​ Per Share ​ Plans or Programs ​ the Plans or Programs May 2024 6,901 ​ $ 6.00 ​ $ 41,379 893,099 Total 6,901 ​ $ 6.00 ​ $ 41,379 ​

LONG TERM INCENTIVE PLAN

LONG TERM INCENTIVE PLAN	12 Months Ended
	Sep. 30, 2024
LONG TERM INCENTIVE PLAN
LONG TERM INCENTIVE PLAN	18. LONG TERM INCENTIVE PLAN On February 16, 2022, the stockholders of Energy Services approved the Company’s 2022 Equity Incentive Plan (the “Equity Incentive Plan”), which provides for the grant of stock-based awards to officers and employees of the Company and its subsidiaries. The maximum number of shares of stock, in the aggregate, that may be granted under the Equity Incentive Plan as stock options, restricted stock or restricted stock units is 1,500,000 shares. A description of the material terms of the Equity Incentive Plan is contained in the Company’s definitive proxy statement for the Annual Meeting of Stockholders filed with the Securities and Exchange Commission on January 11, 2022. The amount recognized for compensation expense for the twelve months ended September 30, 2024 was approximately $50,000. A table of restricted stock grants awarded during the twelve months ended September 30, 2024 are below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercised or ​ ​ ​ ​ Outstanding at the ​ Granted during the ​ converted during the ​ Forfeited during the ​ Expired during the ​ ​ ​ Exercisable or fiscal year ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Outstanding at ​ convertible at September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, 2023 2024 2024 2024 2024 2024 2024 1,460,000 24,561 ​ — — — 1,435,439 — ​ ​ ​ ​ ​ restricted stock award vesting FY 2025 21,520 FY 2026 21,520 FY 2027 8,187 ​ ​ 51,227 ​

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2024
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	19. RELATED PARTY TRANSACTIONS We intend that all transactions between us and our executive officers, directors, holders of 10% or more of the shares of any class of our common stock and affiliates thereof, will be on terms no less favorable than those terms given to unaffiliated third parties and will be approved by a majority of our independent outside directors not having any interest in the transaction. On April 29, 2022, the Company entered into a $1.0 million promissory note agreement with Corns Enterprises as partial consideration for the purchase of Tri-State Paving. This four-year agreement requires $250,000 principal installment payments on or before the end of each twelve (12) full calendar month period beginning April 29, 2022. Interest payments due shall be calculated on the principal balance remaining and shall be at the stated rate of 3.5% per year. The Company has made $750,000 in principal payments on this note as of September 30, 2024. Subsequent to the April 29, 2022 acquisition of Tri-State Paving, the Company entered into an operating lease for facilities in Hurricane, West Virginia with Corns Enterprises. This thirty-six-month lease is treated as a right-of-use asset and has payments of $7,000 per month. The total net present value at inception was $236,000 with a carrying value of $46,000 at September 30, 2024. SQP made an equity investment of $156,000 in 1030 Quarrier Development, LLC (“Development”) in August 2022. Development is a variable interest entity (“VIE”) that is 75% owned by 1030 Quarrier Ventures, LLC (“Ventures”) and 25% owned by SQP. SQP is not the primary beneficiary of the VIE and therefore will not consolidate Development into its consolidated financial statements. Instead, SQP will apply the equity method of accounting for its investment in Development. Development, a 1% owner, and United Bank, a 99% owner, formed 1030 Quarrier Landlord, LLC (“Landlord”). Landlord decided to pursue the following development project (the “Project”): a historical building at 1030 Quarrier Street, Charleston, West Virginia as well as associated land (the “Property”) was purchased to be developed/rehabilitated into a commercial project including apartments and commercial space. Upon the completion of development, the Property will be used to generate rental income. SQP has been awarded the construction contract for the Project. United Bank provided $5.0 million in loans to fund the Project. SQP and Ventures have jointly provided an unconditional guarantee for the $5.0 million of obligations associated with the Project. CJ Hughes entered into an agreement, cancelable at any time, with Construction Specialty Services (“CSS”), which is owned by Chuck Austin, the President of CJ Hughes. CSS rents equipment, periodically, to and as requested by CJ Hughes. The equipment rental rates are below the rates that the equipment can be rented from any unaffiliated rental company. CJ Hughes is not obliged to rent any equipment and does so only when CJ Hughes does not have equipment available of its own and would otherwise need to rent such equipment as the demand increases throughout the construction season. In the fiscal years 2023 and 2024, the rental amounts for these specific years were $387,000, and $318,000, respectively. Other than mentioned above, there were no new material related party transactions entered into during the fiscal year ended September 30, 2024. Certain Energy Services subsidiaries routinely engage in transactions in the normal course of business with each other, including sharing employee benefit plan coverage, payment for insurance and other expenses on behalf of other affiliates, and other services incidental to business of each of the affiliates. All revenue and related expense transactions, as well as the related accounts payable and accounts receivable have been eliminated in consolidation.

LEASE OBLIGATIONS

LEASE OBLIGATIONS	12 Months Ended
	Sep. 30, 2024
LEASE OBLIGATIONS
LEASE OBLIGATIONS	20. LEASE OBLIGATIONS The Company leases office space for SQP for $1,500 per month. The lease, which was originally signed on March 25, 2021, is for a period of two years with five one-year renewals available immediately following the end of the base term. The Company has only committed to a one-year renewal and is evaluating whether to renew for additional periods. The Company had two lease agreements for construction equipment with a combined amount of $160,000 that were paid in full as of September 30, 2024. The leases had a term of twenty-two months with a stated interest rate of 0%, combined monthly installment payments of $6,645 and were cancellable at any time without penalty. The Company exercised the right to purchase the equipment at the expiration of the leases by applying the two-month deposit paid. The related assets and finance lease obligations associated with these lease agreements had been included in the consolidated balance sheets within property, plant and equipment and long-term debt. The Company has two right-of-use operating leases acquired on April 29, 2022, as part of the Tri-State Paving, LLC transaction. The first operating lease, for the Hurricane, West Virginia facility, had a net present value of $236,000 at inception, and a carrying value of $46,000 at September 30, 2024. The 4.5% interest rate on the operating leases is based on the Company’s incremental borrowing rate at inception. The second operating lease, for the Chattanooga, Tennessee facility, had a net present value of $144,000 at inception, and expired on August 31, 2024. The lease was renewed for a two-year period with a net present value of $140,000 and had a carrying value of $123,000 at September 30, 2024. The 8.5% interest rate on the operating leases is based on the Company’s incremental borrowing rate at inception. The Company has a right-of-use operating lease with Enterprise acquired on August 11, 2022, as part of the Ryan Environmental acquisition. This lease agreement was initially for thirty-one vehicles with a net present value of $1.2 million. The Company subsequently netted forty-three additional leased vehicles with a net present value of $2.0 million. The right-of-use operating lease has a carrying value of $2.2 million at September 30, 2024. Each vehicle leased under the master lease program has its own implicit rate. The Company had a right-of-use operating lease with RICA Developers, LLC acquired on August 12, 2022, as part of the Ryan Environmental acquisition. This lease, for the Bridgeport, West Virginia facility, had a net present value of $140,000 at inception and no carrying value at September 30, 2023. The 4.5% interest rate on the operating lease was based on the Company’s incremental borrowing rate at inception. The Company has signed a one-year renewal agreement effective October 1, 2023 through September 30, 2024. The lease had a net present value of $125,000 at inception and no carrying value at September 30, 2024. The 8.5% interest rate on the operating lease was based on the Company’s incremental borrowing rate at inception. As of September 30, 2024, the Company has only committed to a one-year renewal and is evaluating whether to renew for additional periods. The Company has a right-of-use operating lease acquired on March 28, 2023. This lease, for the Winchester, Kentucky facility, had a net present value of $290,000 at inception and a carrying value of $161,000 at September 30, 2024. The 7.5% interest rate on the operating lease is based on the Company’s incremental borrowing rate at inception. Schedules related to the Company’s operating leases at fiscal year ended September 30, 2024 can be found below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease-Weighted Average Remaining Term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years left Remaining liability Lease end Fiscal year end Operating lease 1 0.5 ​ $ 45,833 3/31/2025 2025 Operating lease 2 1.9 ​ 122,701 8/31/2026 2026 Operating lease 3 4.0 ​ 2,203,465 9/30/2028 2028 Operating lease 4 0.0 ​ — 9/30/2024 2024 Operating lease 5 ​ 1.5 ​ ​ 160,928 ​ 3/31/2026 ​ 2026 ​ ​ ​ ​ $ 2,532,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining term ​ ​ ​ 3.7 years ​ ​ ​ ​ ​ Operating Lease Maturity Schedule ​ 2025 ​ $ 1,110,028 2026 ​ 1,004,022 2027 ​ 804,467 2028 ​ 129,749 ​ ​ 3,048,266 Less amounts representing interest ​ (515,339) Present value of operating lease liabilities ​ $ 2,532,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, Operating Lease Expense 2024 ​ 2023 Amortization ​ ​ ​ ​ ​ ​ Operating lease 1 ​ $ 87,167 ​ $ 72,267 Operating lease 2 ​ 74,042 ​ ​ 62,001 Operating lease 3 ​ 688,869 ​ ​ 568,114 Operating lease 4 ​ 124,701 ​ ​ 113,480 Operating lease 5 ​ ​ 101,243 ​ ​ 28,191 Total amortization ​ 1,076,022 ​ ​ 844,053 ​ ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ ​ Operating lease 1 ​ $ 3,833 ​ $ 7,355 Operating lease 2 ​ 1,892 ​ ​ 3,825 Operating lease 3 ​ 219,414 ​ ​ 87,416 Operating lease 4 ​ 4,899 ​ ​ 2,802 Operating lease 5 ​ 14,250 ​ ​ 11,391 Total interest ​ ​ 244,288 ​ ​ 112,789 Total amortization and interest ​ $ 1,320,310 ​ $ 956,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, Cash Paid for Operating Leases ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ Operating lease 1 ​ $ 91,000 ​ $ 79,622 Operating lease 2 ​ 75,934 ​ ​ 65,826 Operating lease 3 ​ 908,283 ​ ​ 655,530 Operating lease 4 ​ 129,600 ​ ​ 116,282 Operating lease 5 ​ ​ 115,493 ​ ​ 39,582 ​ ​ $ 1,320,310 ​ $ 956,842 ​ The Company rents equipment for use on construction projects with rental agreements being week to week or month to month. Rental expense can vary by fiscal year due to equipment requirements on construction projects and the availability of Company owned equipment. Rental expense, which is included in cost of goods sold on the consolidated statements of income, was $16.3 million and $12.1 million for the years ended September 30, 2024, and 2023, respectively.

MAJOR CUSTOMERS

MAJOR CUSTOMERS	12 Months Ended
	Sep. 30, 2024
MAJOR CUSTOMERS
MAJOR CUSTOMERS	21. MAJOR CUSTOMERS The tables below present customers that represent 10.0% or more of the Company’s revenue or accounts receivable, net of retention as of or for the fiscal years ended September 30, 2024, and 2023: ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended Revenue ​ September 30, 2024 ​ September 30, 2023 ​ TransCanada Corporation 10.4 % 13.9 % NiSource and subsidiaries * ​ 17.5 % All other 89.6 % 68.6 % Total 100.0 % 100.0 % * Less than 10.0% and included in “All other” if applicable ​ ​ ​ ​ ​ ​ Accounts receivable, net of retention at September 30, 2024 at September 30, 2023 NiSource and subsidiaries * ​ 11.8 % All other 100.0 % 88.2 % Total 100.0 % 100.0 % * Less than 10.0% and included in “All other” if applicable Virtually all work performed for major customers was awarded under competitive bid fixed price or unit price arrangements. The loss of a major customer could have a severe impact on the profitability of the operations of the Company. However, due to the nature of the Company’s operations, the major customers and sources of revenues may change from year to year.

RETIREMENT AND EMPLOYEE BENEFIT

RETIREMENT AND EMPLOYEE BENEFIT PLANS	12 Months Ended
	Sep. 30, 2024
RETIREMENT AND EMPLOYEE BENEFIT PLANS
RETIREMENT AND EMPLOYEE BENEFIT PLANS	22. RETIREMENT AND EMPLOYEE BENEFIT PLANS In 2024 and 2023, C. J. Hughes maintained a tax-qualified 401(k) retirement plan for union employees. Employees can contribute up to 15% of eligible wages, provided the compensation deferred for a plan year does not exceed the indexed dollar amount set by the Internal Revenue Service which was $23,000 for 2024 and $22,500 for 2023. C. J. Hughes matches $0.25 on each dollar contributed up to 6% of eligible wages. C. J. Hughes contributed $37,000 and $17,000 to the union plan for the fiscal years September 30, 2024 and 2023, respectively. Additionally, each plan year, C. J. Hughes may make a discretionary profit-sharing contribution for participants who are actively employed on the last day of the plan year. No discretionary profit-sharing contribution was made for the 2024 or 2023 plan year. Effective January 1, 2010, Energy Services became the successor plan sponsor of the C. J. Hughes Construction Company, Inc. 401(k) Plan for non-union employees (the “Plan”). The Plan was renamed the Energy Services of America Staff 401(k) Retirement Savings Plan. Employees are eligible to participate in the Plan upon completion of six months of service but must wait until a quarterly entry to join the Plan. In addition, participants who are age 50 or older by the end of the Plan year may elect to defer up to an additional $7,500 into the Plan for 2024. Energy Services may make annual discretionary matching contributions and/or profit-sharing contributions to the Plan. The matching contribution formula for the Plan was 100% of each dollar contributed for the first 3% of eligible wages and 50% of each dollar contributed for the next 3% of eligible wages. The Company’s matching contribution is used by the Plan’s third-party administrator to purchase Energy Services of America common stock from the open market. No restrictions on the match exist after it has been contributed. No profit-sharing contribution was made for the 2024 or 2023 plan year. Energy Services and its wholly owned subsidiaries contributed $864,000 and $599,000, respectively, for the fiscal years ended September 30, 2024, and 2023 to the Plan. The Company contributes to a number of multi-employers defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: ● Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers. If participating employers stop contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. ● If the Company chooses to stop participating in some of its multi-employer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The following table presents our participation in these plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contibutions of ​ ​ ​ ​ ​ ​ ​ ​ Pension Protection Act (“PPA”) ​ ​ ​ ​ ​ ​ Energy Services of America ​ ​ ​ ​ ​ ​ ​ ​ Certified Zone Status (1) ​ FIP/RP Status ​ ​ ​ ​ Companies ​ ​ ​ Expiration Date of ​ ​ EIN/Pension ​ ​ ​ ​ ​ Pending/ ​ ​ ​ ​ ​ ​ Surcharge ​ Collective Bargaining Pension Fund Plan Number 2023 2022 Implemented (2) ​ 2024 ​ 2023 Imposed Agreement ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Central States, Southeast and Southwest Areas Pension Fund ​ 36-6044243/001 Green Red Implemented $ 197,890 $ 160,566 no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Laborers National Pension Fund 75-1280827/001 Red Red Implemented ​ 220,354 ​ 46,167 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Laborers' District Council of Western Pennsylvania Pension Plan ​ 25-6135576/001 ​ Yellow ​ Yellow ​ Implemented ​ ​ 4,026 ​ ​ — ​ no ​ Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Engineers Local 324 Pension Fund ​ 38-1900637/001 ​ Red ​ Red ​ Implemented ​ ​ 50,666 ​ ​ 837 ​ no ​ Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ National Automatic Sprinkler Industry Pension Fund 52-6054620/001 Green Red Implemented ​ 570,197 ​ 214,590 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carpenters Pension Fund of WV 55-6027998/001 Red Red Implemented ​ 871,079 ​ 907,515 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plumbers & Pipefitters National Pension Fund 52-6152779/001 Green Yellow Implemented ​ 1,964,549 ​ 817,059 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ Sheet Metal Workers' National Pension Fund 52-6112463/001 Green Yellow Implemented ​ 370,727 ​ 188,749 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ Plumbers and Steamfitters Local 577 Pension Fund 31-6134953/001 Red Red Implemented ​ — ​ 5,623 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sheet Metal Workers Local Pension Fund 34-6666753/001 Red Red Implemented ​ 4,716 ​ — ​ no Various ​ ​ ​ ​ ​ ​ ​ All Other Green Green ​ 5,729,480 ​ 9,258,051 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ $ 9,983,684 ​ $ 11,599,157 ​ ​ (1) The most recent PPA zone status available in 2024 and 2023 is the plan’s year-end during 2023 and 2022, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. (2) Indicates whether the plan has a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) which is either pending or has been implemented. The Company currently does not have any intention of withdrawing from any of the multi-employer pension plans in which it participates. On November 12, 2021, the Company received a withdrawal liability claim from a pension plan to which the Company made pension contributions for union construction employees performing covered work in a particular jurisdiction. The Company has not performed covered work in their jurisdiction since 2011; however, the Company disagrees with the withdrawal claim and believes it is covered by an exemption under federal law. The demand called for thirty-four quarterly installment payments of $41,000 starting December 15, 2021. The Company must comply with the demand under federal pension law; however, the Company firmly believes no withdrawal liability exists. The Company is in negotiations with the pension fund to resolve the matter and all future payments have been suspended as part of the negotiation. The Company has expensed all $164,000 in payments made through September 30, 2023, and does not expect any future liabilities related to this claim. The Company made no payments during the twelve months ended September 30, 2024.

CREDIT RISK

CREDIT RISK	12 Months Ended
	Sep. 30, 2024
CREDIT RISK
CREDIT RISK	23. CREDIT RISK Financial instruments which potentially subject the Company to credit risk consist primarily of cash, cash equivalents and contract receivables. The Company places its cash with high quality financial institutions. At times, the balances in such institutions may exceed the FDIC insurance limit of $250,000 per depositor, per insured bank, for each account ownership category. FDIC insurance covers all deposit accounts, including checking accounts, savings accounts, money market deposit accounts, and certificates of deposit. As of September 30, 2024, the Company had $13.2 million of uninsured deposits. The Company performs periodic credit evaluations of its customer’s financial condition and generally does not require collateral. Consequently, the Company is subject to potential credit risk related to business and economic factors that would affect these companies. However, the Company generally has certain statutory lien rights with respect to services provided. Credit losses consistently have been within management’s expectations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	24. COMMITMENTS AND CONTINGENCIES During the normal course of operations, the Company is subject to certain subcontractor claims, mechanic’s liens, and other litigation. Management is of the opinion that no material obligations will arise from any pending legal proceedings. Accordingly, no provision has been made in the financial statements for such litigation. Some customers, particularly new ones or governmental agencies require the Company to post bid bonds, performance bonds and payment bonds (collectively, performance bonds). These performance bonds are obtained through insurance carriers and guarantee to the customer that we will perform under the terms of a contract and that we will pay subcontractors and vendors. If the Company fails to perform under a contract or to pay subcontractors and vendors, the customer may demand that the insurer make payments or provide services under the bond. The Company must reimburse the insurer for any expenses or outlays it is required to make. In February 2014, the Company entered into an agreement with a surety company to provide bonding which will suit the Company’s immediate needs. The ability to obtain bonding for future contracts is an important factor in the contracting industry with respect to the type and value of contracts that can be bid on. Depending upon the size and conditions of a particular contract, the Company may be required to post letters of credit or other collateral in favor of the insurer. Posting these letters or other collateral will reduce our borrowing capabilities. The Company does not anticipate any claims in the foreseeable future. At September 30, 2024, the Company had $117.6 million in performance bonds outstanding. In the fiscal year 2020, the Company received $9.8 million in PPP Loans. The Company believes it meets the SBA’s certification requirement based on its limited access to capital, weakened business operations during the pandemic and small market value. The Company’s shares of common stock did not trade on a national exchange at that time. However, no assurance can be given as to the outcome if the SBA re-evaluates the Company’s loan certification. The SBA could determine that the Company does not qualify in whole or in part for loan forgiveness. In addition, it is unknown what type of penalties could be assessed against the Company if the SBA disagrees with the Company’s certification. The Company could be required to repay its PPP Loans. Any penalties in addition to the potential repayment of the PPP Loans could negatively impact the Company’s business, financial condition and results of operations and prospects.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Sep. 30, 2024
ACQUISITIONS
ACQUISITIONS	25. Energy Services accounts for business combinations under the acquisition method in accordance with ASC Topic 805 “Business Combinations”. Accordingly, for the transaction, the purchase price is allocated to the fair value of the assets acquired and liabilities assumed as of the date of the acquisition. In conjunction with ASC 805, upon receipt of final fair value estimates during the measurement period, which must be within one year of the acquisition date, Energy Services records any adjustments to the preliminary fair value estimates in the reporting period in which the adjustments are determined. On July 11, 2024, the Company’s Nitro subsidiary completed the acquisition of substantially all the physical assets of Heritage Painting, LLC (“Heritage Painting”), a West Virginia corporation located in Poca, West Virginia for $300,000 cash. The operations of Heritage has been absorbed into Nitro’s operations and is insignificant to the Company’s consolidated financial statements. The Heritage Painting acquisition purchase price is allocated in the table below: ​ ​ ​ ​ ​ Property and equipment $ 178,900 Customer relationships ​ ​ 121,100 Total ​ $ 300,000 ​ ASC 805-10-50-2 requires public companies that present comparative financial statements to present pro forma financial statements as though the business combination that occurred during the current fiscal year had occurred as of the beginning of the comparable prior annual reporting period. As allowed under ASC 805-10-50-2, the Company finds this information impracticable to provide for the periods presented due to the lack of availability of meaningful financial statements of the acquired companies that comply with U.S. GAAP.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Sep. 30, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	26. GOODWILL AND INTANGIBLE ASSETS ​ The Company follows the guidance of ASC 350-20-35-3 “Intangibles-Goodwill and Other (Topic 350)” which requires a company to record an impairment charge based on the excess of a reporting unit’s carrying amount of goodwill over its fair value. Under the current guidance, companies can first choose to assess any impairment based on qualitative factors (Step 0). If a company fails this test or decides to bypass this step, it must proceed with a quantitative assessment of goodwill impairment. The Company did not have a goodwill impairment at September 30, 2024 or 2023. A table of the Company’s goodwill is below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 4,087,554 $ 4,087,554 ​ ​ ​ ​ ​ ​ ​ Acquired ​ — ​ — ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 4,087,554 ​ $ 4,087,554 ​ A table of the Company’s intangible assets subject to amortization at September 30, 2024, is below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Accumulated Amortization and Amortization and ​ ​ ​ ​ Remaining Life ​ ​ ​ ​ Amortization and ​ Amortization and ​ Impairment ​ Impairment ​ Net Book ​ Net Book ​ ​ (in months) at ​ ​ ​ ​ Impairment at ​ Impairment at ​ Twelve Months Ended ​ Twelve Months Ended ​ Value at ​ Value at ​ ​ September 30, ​ Original ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, Intangible assets: ​ 2024 ​ Cost ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ West Virginia Pipeline: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 75 ​ $ 2,209,724 ​ ​ 828,630 ​ $ 607,661 ​ ​ 220,969 ​ ​ 220,968 ​ $ 1,381,094 ​ $ 1,602,063 Tradename ​ 75 ​ ​ 263,584 ​ ​ 98,863 ​ ​ 72,500 ​ ​ 26,363 ​ ​ 26,364 ​ ​ 164,721 ​ ​ 191,084 Non-competes — ​ ​ 83,203 ​ ​ 83,203 ​ ​ 83,203 ​ ​ — ​ ​ 10,397 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolt Energy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employment agreement/non-compete — ​ 100,000 ​ 100,000 ​ 100,000 ​ ​ — ​ 22,221 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Heritage Painting Customer relationships ​ 57 ​ ​ 121,100 ​ ​ 6,054 ​ ​ — ​ ​ 6,054 ​ ​ — ​ ​ 115,046 ​ ​ — Tri-State Paving: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 91 ​ ​ 1,649,159 ​ ​ 398,547 ​ ​ 233,631 ​ ​ 164,916 ​ ​ 166,850 ​ ​ 1,250,612 ​ ​ 1,415,528 Tradename ​ 91 ​ ​ 203,213 ​ ​ 49,110 ​ ​ 28,789 ​ ​ 20,321 ​ ​ 20,421 ​ ​ 154,103 ​ ​ 174,424 Non-competes ​ — ​ ​ 39,960 ​ ​ 39,960 ​ ​ 39,960 ​ ​ — ​ ​ 23,370 ​ ​ — ​ ​ — Total intangible assets ​ $ 4,669,943 ​ $ 1,604,367 ​ $ 1,165,744 ​ $ 438,623 ​ $ 490,591 ​ $ 3,065,576 ​ $ 3,383,099 ​ Amortization expense associated with the identifiable intangible assets is expected to be as follows: ​ ​ ​ ​ ​ ​ Amortization Expense October 2024 to September 2025 ​ $ 456,780 October 2025 to September 2026 ​ 456,780 October 2026 to September 2027 ​ 456,780 October 2027 to September 2028 ​ 456,780 October 2028 to September 2029 ​ 450,746 After ​ ​ 787,710 Total ​ $ 3,065,576 ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	27. SUBSEQUENT EVENTS ​ On October 31, 2024, the Company announced it had entered into an Asset Purchase Agreement with Tribute Contracting & Consultants, LLC (“Tribute”), an underground utility contractor that primarily specializes in water and wastewater system installations in Ohio, Kentucky, and West Virginia. On December 2, 2024, the Company closed on the acquisition. Under the terms of the agreement, Energy Services’ new subsidiary, Tribute Acquisition Company, purchased substantially all of the assets of Tribute for $22.0 million in cash, less any assumed debt and working capital adjustments, and $2.0 million of Energy Services’ common stock. On November 20, 2024, the Company’s Board of Directors approved a quarterly cash dividend of $0.03 per common share. The dividend will be paid on January 2, 2025 to holders of record as of December 13, 2024. While this is expected to be a quarterly cash dividend, factors such as income from operations, cash flows, and overall financial outlook may affect future dividend payments. Management has evaluated all subsequent events for accounting and disclosure. There have been no other material events during the period, other than noted above, that would either impact the results reflected in the report or the Company’s results going forward.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue Recognition	Revenue Recognition The Company recognizes revenue as performance obligations are satisfied and control of the promised goods and service is transferred to the customer. For Lump Sum and Unit Price contracts, revenue is ordinarily recognized over time as control is transferred to the customers by measuring the progress toward complete satisfaction of the performance obligation(s) using an input (i.e., “cost to cost”) method. For Cost Plus and Time and Material (“T&M”) contracts, revenue is ordinarily recognized over time as control is transferred to the customers by measuring the progress toward satisfaction of the performance obligation(s) using an output method. The Company does have certain service and maintenance contracts in which each customer purchase order is considered its own performance obligation recognized over time and would be recognized depending on the type of contract mentioned above. The Company also does certain T&M service work that is generally completed in a short duration and is recognized at a point in time. All contract costs, including those associated with affirmative claims, change orders and back charges, are recorded as incurred and revisions to estimated total costs are reflected as soon as the obligation to perform is determined. Contract costs consist of direct costs on contracts, including labor and materials, amounts payable to subcontractors and outside equipment providers, direct overhead costs and internal equipment expense (primarily depreciation, fuel, maintenance, and repairs). The Company recognizes revenue, but not profit, on certain uninstalled materials. Revenue on these uninstalled materials is recognized when the cost is incurred (when control is transferred), but the associated profit is not recognized until the materials are installed. The costs of uninstalled materials are tracked separately within the Company’s accounting software. Pre-contract and bond costs, if required, and mobilization costs on projects are generally immaterial to the total value of the Company’s contracts and are expensed when incurred. As a practical expedient, the Company recognizes these incremental costs as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. For projects expected to last greater than one year, mobilization costs are capitalized as incurred and amortized over the expected duration of the project. For these projects, mobilization costs will be tracked separately in the Company’s accounting software. This includes costs associated with setting up a project lot or lay-down yard, equipment, tool and supply transportation, temporary facilities and utilities and worker qualification and safety training. Contracts may require the Company to warranty that work is performed in accordance with the contract; however, the warranty is not priced separately, and the Company does not offer customers an option to purchase a warranty.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of Energy Services include the accounts of Energy Services, its wholly owned subsidiaries West Virginia Pipeline, SQP, Ryan Construction, Tri-State Paving and C.J. Hughes and its subsidiaries, Contractors Rental, Nitro, and Pinnacle. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services, West Virginia Pipeline, SQP, Ryan Construction, Tri-State Paving and C.J. Hughes and its subsidiaries.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“U.S.GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and loss during the reporting period. Actual results could differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Energy Services considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Fair Value Measurements	Fair Value Measurements The “Fair Value Measurement” Topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP and specifies disclosures about fair value measurements. Under the FASB’s authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The “Fair Value Measurement” Topic establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 Level 2 Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The carrying amount for borrowings under the Company’s revolving credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. The fair value of the Company’s long term fixed-rate debt was estimated using a discounted cash flow analysis and a yield rate that was estimated based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $25.6 million at September 30, 2024 was $24.7 million. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $33.8 million at September 30, 2023 was $32.1 million. All other current assets and liabilities are carried at a net realizable value which approximates fair value because of their short duration to maturity.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The Company’s accounts receivable consists of amounts that have been billed to customers. Collateral is generally not required. A majority of the Company’s contracts have monthly billing terms and payment terms within 30 to 45 days after invoices have been issued. The Company attempts to negotiate two-week billing terms and 15-day payment terms on larger projects. The timing of billings to customers may generate contract assets or contract liabilities. Certain construction contracts include retention provisions to provide assurance to our customers that we will perform in accordance with the contract terms and are therefore not considered a financing benefit. The balances billed but not paid by customers pursuant to these provisions generally become due upon completion and acceptance of the project work or products by the customer. We have determined there are no significant financing components in our contracts as of and for the years ended September 30, 2024 and 2023. Retainage billed but not paid pursuant to contract provisions will be due upon completion of the contracts. Based on the Company’s experience, management considers all amounts classified as retainage receivable to be collectible. A majority of retainage receivable amounts are expected to be collected within the next fiscal year. The Company provides an allowance for doubtful accounts when collection of an account or note receivable is considered doubtful, and receivables are written off against the allowance when deemed uncollectible. Inherent in the assessment of the allowance for doubtful accounts are certain judgments and estimates including, among others, the customer’s access to capital, the customer’s willingness or ability to pay, general economic conditions and the ongoing relationship with the customer.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Costs which extend the useful lives or increase the productivity of the assets are capitalized, while normal repairs and maintenance that do not extend the useful life or increase productivity of the asset are expensed as incurred. Property and equipment are depreciated principally on the straight-line method over the estimated useful lives of the assets: buildings 39 years; operating equipment and vehicles 5-7 years; and office equipment, furniture and fixtures 5-7 years.
Intangible Assets	Intangible Assets Acquired intangible assets subject to amortization are amortized on a straight-line basis, which approximates the pattern in which the economic benefit of the respective intangible assets is realized, over their respective estimated useful lives. The definite-lived identifiable intangible assets recognized as part of the Company’s business combinations were initially recorded at their estimated fair value.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets A long-lived asset shall be tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset would be compared to the asset’s carrying amount to determine if a write-down to market value is required.
Claims	Claims Claims are amounts in excess of the agreed contract price that a contractor seeks to collect from customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders in dispute or unapproved as to both scope and price, or other causes of unanticipated additional costs. The Company records revenue on claims that management believes are probable. Revenue from a claim is recorded only to the extent that contract costs relating to the claim have been incurred.
Self -Insurance	Self -Insurance The Company has its workers compensation, general liability and auto insurance through a captive insurance company. While the Company believes that this arrangement has been very beneficial in reducing and stabilizing insurance costs, the Company has to maintain a surety deposit to guarantee payment of premiums. The surety deposit had a balance of $2.0 million and $1.9 million as of September 30, 2024 and 2023, respectively, which is in “Prepaid expenses and other” on the Company’s Consolidated Balance Sheets. Should the captive experience severe losses over an extended period, it could increase the Company’s insurance expense or surety deposit required.
Advertising	Advertising All advertising costs are expensed as incurred. Total advertising expenses were $279,000 and $138,000 for the years ended September 30, 2024 and 2023, respectively.
Stock Compensation Plans	Stock Compensation Plans The Company accounts for its equity-based compensation as prescribed by U.S. GAAP for share-based payments. The Company has adopted a fair value-based method of accounting for employee equity-based plans, whereby compensation cost is measured at the grant date based on the fair value of the award and is recognized over the service period, which is usually the vesting period. As a result, compensation expense relating to stock compensation plans will be reflected in net income as part of “Selling and administrative expenses” on the consolidated statements of income.
Income Taxes	Income Taxes The Company and all subsidiaries file a consolidated federal and various state income tax returns on a fiscal year basis. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations for years ending prior to September 30, 2021. The Company follows the liability method of accounting for income taxes in accordance with U.S. GAAP. Under this method, deferred tax assets and liabilities are recorded for future tax consequences of temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the underlying assets or liabilities are recovered or settled. A valuation allowance is established to reduce deferred tax assets if it is more likely than not that a deferred tax asset will not be realized. U.S. GAAP also prescribes a comprehensive model for how companies should recognize, measure, present and disclose in their financial statements uncertain tax positions taken or to be taken on a tax return. This evaluation is a two-step process. First, the recognition process determines if it is more likely than not that a tax position will be sustained based on the merits of the tax position upon examination by the appropriate taxing authority. Second, a measurement process is calculated to determine the amount of benefit/expense to recognize in the financial statements if a tax position meets the more likely than not recognition threshold. The tax position is measured at the greatest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement. Any interest and penalty related to the unrecognized tax benefits, as the result of recognition of tax obligations resulting from uncertain tax positions, are included in general and administrative expenses. The Company had not recognized any uncertain tax positions at September 30, 2024 or 2023.
Earnings Per Common Share	Earnings Per Common Share Basic earnings per share is computed using the weighted average number of common shares outstanding during the year, and diluted earnings per share is computed using the weighted average number of common shares outstanding during the year adjusted for all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive.
Collective Bargaining Agreements	Collective Bargaining Agreements Certain Energy Services subsidiaries are party to collective bargaining agreements with unions representing members that are employed by the Company. The agreements require such subsidiaries to pay specified wages and provide certain benefits to the union employees. These agreements expire at various times and have typically been renegotiated and renewed on terms that are similar to the ones contained in the expiring agreements. Under certain collective bargaining agreements, the applicable Energy Services subsidiary is required to make contributions to multi-employer pension plans. If the subsidiary were to cease participation in one or more of these plans, a liability could potentially be assessed related to any underfunding of these plans. The amount of such an assessment, were one to be made, cannot be reasonably estimated.
Litigation Costs	Litigation Costs The Company recognizes reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Litigation costs are expensed as incurred.
Treasury Stock	Treasury Stock When the Company’s stock is retired or repurchased for constructive retirement (with or without an intention to retire the stock formally in accordance with applicable laws), an excess of par or stated value over the cost of treasury shares is credited to additional paid-in capital.
New Accounting Pronouncements	New Accounting Pronouncements On October 28, 2021, the Financial Accounting Standards Board (“FASB”) released Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	12 Months Ended
	Sep. 30, 2024
DISAGGREGATION OF REVENUE
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ Electrical, ​ ​ ​ ​ Gas & Water Gas & Petroleum Mechanical, Total revenue ​ ​ Distribution ​ Transmission ​ & General ​ from contracts Lump sum contracts ​ $ — ​ $ — ​ $ 121,997,872 ​ $ 121,997,872 Unit price contracts ​ 82,426,199 ​ 71,265,020 ​ 4,141,938 ​ 157,833,157 Cost plus and T&M contracts ​ — ​ 9,790,155 ​ 62,255,677 ​ 72,045,832 Total revenue from contracts ​ $ 82,426,199 ​ $ 81,055,175 ​ $ 188,395,487 ​ $ 351,876,861 ​ ​ ​ ​ ​ Earned over time ​ $ 9,541,650 ​ $ 71,265,020 ​ $ 133,898,665 ​ $ 214,705,335 Earned at point in time ​ 72,884,549 ​ 9,790,155 ​ 54,496,822 ​ 137,171,526 Total revenue from contracts ​ $ 82,426,199 ​ $ 81,055,175 ​ $ 188,395,487 ​ $ 351,876,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Electrical, ​ ​ ​ ​ ​ Gas & Water ​ Gas & Petroleum ​ Mechanical, ​ Total revenue ​ Distribution Transmission & General from contracts Lump sum contracts ​ $ — ​ $ — ​ $ 101,700,805 ​ $ 101,700,805 Unit price contracts ​ 68,066,230 ​ 86,738,111 ​ 6,110,395 ​ 160,914,736 Cost plus and T&M contracts ​ — ​ 609,184 ​ 40,879,767 ​ 41,488,951 Total revenue from contracts ​ $ 68,066,230 ​ $ 87,347,295 ​ $ 148,690,967 ​ $ 304,104,492 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earned over time ​ $ 25,184,336 ​ $ 86,738,111 ​ $ 107,674,083 ​ $ 219,596,530 Earned at point in time ​ 42,881,894 ​ 609,184 ​ 41,016,884 ​ 84,507,962 Total revenue from contracts ​ $ 68,066,230 ​ $ 87,347,295 ​ $ 148,690,967 ​ $ 304,104,492 ​

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	12 Months Ended
	Sep. 30, 2024
CONTRACT BALANCES
Schedule of accounts receivable-trade, net of allowance for doubtful accounts, contract assets and contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 September 30, 2023 Change ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable-trade, net of allowance for doubtful accounts ​ $ 56,064,318 ​ $ 51,168,895 ​ $ 4,895,423 ​ ​ ​ ​ ​ ​ ​ Contract assets ​ ​ ​ ​ ​ ​ Cost and estimated earnings in excess of billings ​ $ 24,595,792 ​ $ 15,955,220 ​ $ 8,640,572 ​ ​ ​ ​ ​ ​ ​ Contract liabilities ​ ​ ​ ​ ​ ​ Billings in excess of cost and estimated earnings ​ $ 16,950,988 ​ $ 17,743,001 ​ $ (792,013) ​

ALLOWANCE FOR DOUBTFUL ACCOUN_2

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)	12 Months Ended
	Sep. 30, 2024
ALLOWANCE FOR DOUBTFUL ACCOUNTS
Schedule of allowance for doubtful accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 51,063 ​ $ 70,310 Charged to expense ​ 687,463 ​ — Deductions for uncollectible receivables written off, net of recoveries ​ — ​ (19,247) Balance at end of period ​ $ 738,526 ​ $ 51,063 ​

UNCOMPLETED CONTRACTS (Tables)

UNCOMPLETED CONTRACTS (Tables)	12 Months Ended
	Sep. 30, 2024
UNCOMPLETED CONTRACTS
Schedule of costs, estimated earnings and billings on uncompleted contracts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, September 30, ​ 2024 2023 Costs incurred on contracts in progress ​ $ 347,180,901 ​ $ 287,347,650 Estimated earnings, net of estimated losses ​ 59,349,378 ​ 38,976,895 ​ ​ 406,530,279 ​ 326,324,545 Less billings to date ​ 398,885,475 ​ 328,112,326 ​ ​ $ 7,644,804 ​ $ (1,787,781) ​ ​ ​ ​ ​ Costs and estimated earnings in excess of billed on uncompleted contracts ​ $ 24,595,792 ​ $ 15,955,220 Less billings in excess of costs and estimated earnings on uncompleted contracts ​ 16,950,988 ​ 17,743,001 ​ ​ $ 7,644,804 ​ $ (1,787,781)

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Sep. 30, 2024
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Land ​ $ 3,258,838 ​ $ 2,974,354 Buildings and leasehold improvements ​ 11,534,943 ​ 10,000,570 Operating equipment and vehicles ​ 75,768,103 ​ 70,126,093 Office equipment, furniture and fixtures ​ 1,235,965 ​ 1,225,570 Assets not yet in service ​ 87,772 ​ 2,762 ​ ​ 91,885,621 ​ 84,329,349 Less accumulated depreciation ​ 53,749,907 ​ 47,799,840 Property, plant and equipment, net ​ $ 38,135,714 ​ $ 36,529,509 ​

SHORT-TERM DEBT (Tables)

SHORT-TERM DEBT (Tables)	12 Months Ended
	Sep. 30, 2024
SHORT-TERM DEBT
Schedule of line of credit is limited to a borrowing base	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 September 30, 2023 Eligible borrowing base ​ $ 25,089,446 ​ $ 23,942,868 ​ ​ ​ ​ ​ ​ ​ ​ Borrowed on line of credit ​ 4,500,000 ​ 8,712,915 ​ ​ ​ ​ ​ ​ ​ ​ ​ Line of credit balance available ​ $ 20,589,446 ​ $ 15,229,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate ​ 8.0 % 8.5 %

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	12 Months Ended
	Sep. 30, 2024
SHORT-TERM AND LONG-TERM DEBT
Schedule of short-term and long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Line of credit payable to bank, monthly interest at 8.0%, final payment due by June 28, 2025, guaranteed by certain directors of the Company. ​ $ 4,500,000 ​ $ 8,712,915 ​ ​ ​ ​ ​ Equipment line of credit with a total of $9.3 million and $8.5 million of $9.3 million available borrowed at June 30, 2024 and September 30, 2023, respectively, fixed interest at 7.25% of outstanding balance due in monthly installments between June 1, 2023 and December 1, 2023. Payments of $202,809 due in monthly installments, including fixed interest at 7.25%, beginning January 2024 with final payment due February 2028, secured by equipment, guaranteed by certain directors of the Company. ​ ​ 7,802,313 ​ ​ 8,487,085 ​ ​ ​ ​ ​ ​ ​ Paycheck Protection Program loans from Small Business Administration, 1.0% simple interest, initially forgiven in the fiscal year ended September 30, 2021. Final forgiveness decision has not been determined. ​ ​ 10,292,676 ​ ​ 10,184,320 ​ ​ ​ ​ ​ ​ ​ Term note payable to United Bank, WV Pipeline acquisition, due in monthly installments of $64,853 interest at 4.25%, final payment due by March 25, 2026, secured by receivables and equipment, guaranteed by certain directors of the Company. ​ 1,134,185 ​ 1,790,051 ​ ​ ​ ​ ​ Notes payable to finance companies, due in monthly installments totaling $76,000 at September 30, 2024 and $50,000 at September 30, 2023, including interest ranging from 0.00% to 6.0%, final payments due October 2024 through August 2026, secured by equipment. ​ 1,787,009 ​ 1,290,148 ​ ​ ​ ​ ​ Note payable to finance company for insurance premiums financed, due in monthly installments totaling $327,000 in calendar year 2023 and $282,000 in calendar year 2022, including interest rate at 6.70%, final payment due December 2023. ​ — ​ 950,235 ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling , final payment due November 2034 secured by building and property. ​ ​ 762,670 ​ ​ 813,242 ​ ​ ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling $12,580, including interest at 9.5%, final payment due November 2025 secured by building and property, guaranteed by certain directors of the Company. ​ — ​ 294,761 ​ ​ ​ ​ ​ Notes payable to bank, due in monthly installments totaling $59,932, including fixed interest at 6.0%, final payment due October 2027 secured by receivables and equipment, guaranteed by certain directors of the Company. ​ ​ 2,024,847 ​ ​ 2,601,404 ​ ​ ​ Notes payable to David Bolton and Daniel Bolton, due in annual installments totaling $500,000, including interest at 3.25%, final payment due December 31, 2026, unsecured. ​ 940,000 ​ 1,660,000 ​ ​ ​ ​ ​ Notes payable to bank, interest at 4.25% of outstanding balance due in monthly installments between January 2021 and January 2022 with note payments beginning February 2022. Payments due in monthly installments totaling $68,150, including interest at 9.5%, final payment due January 2026, secured by equipment, guaranteed by certain directors of the Company. ​ — ​ 1,873,831 ​ ​ ​ ​ ​ Term note payable to United Bank, Tri-State Paving acquisition, due in monthly installments of $129,910, including interest at 4.50%, final payment due by June 1, 2027, secured by receivables and equipment, guaranteed by certain directors of the Company. ​ ​ 4,359,883 ​ ​ 5,698,761 ​ ​ ​ ​ ​ ​ ​ Notes payable to Corns Enterprises, $1,000,000 with fair value of $936,000, due in annual installments totaling $250,000, including interest at 3.50%, final payment due April 29, 2026, unsecured. ​ ​ 250,000 ​ ​ 468,523 ​ ​ ​ ​ ​ ​ ​ Total debt ​ $ 33,853,583 ​ $ 44,825,276 ​ ​ ​ ​ ​ Less current maturities ​ 16,665,591 ​ 25,954,747 ​ ​ ​ ​ ​ Total long-term debt ​ $ 17,187,992 ​ $ 18,870,529
Schedule of future expected payments due on short-term and long-term debt	​ ​ ​ ​ ​ 2025 $ 16,665,591 2026 ​ 10,238,734 2027 ​ 4,591,906 2028 ​ 1,775,120 2029 ​ 62,726 Thereafter ​ 519,506 ​ ​ $ 33,853,583 ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2024
INCOME TAXES
Schedule of components of income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Federal ​ ​ ​ ​ ​ ​ Current ​ $ 7,218,772 ​ $ 432,251 Deferred ​ (364,036) ​ 1,865,019 Total ​ 6,854,736 ​ 2,297,270 ​ ​ ​ ​ ​ State ​ ​ ​ ​ Current ​ 1,576,518 ​ 127,568 Deferred ​ (15,587) ​ 550,412 Total ​ 1,560,931 ​ 677,980 ​ ​ ​ ​ ​ Total income tax expense (benefit) ​ $ 8,415,667 ​ $ 2,975,250
Schedule of effective income tax rates are estimates taxable income or loss, non-taxable and non-deductible expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended ​ ​ September 30, 2024 September 30, 2023 ​ ​ ​ ​ ​ ​ Statutory rate 21.0 % 21.0 % State income taxes 4.7 % 6.0 % Meals and other (0.6) % 1.7 % Effective tax rate ​ 25.1 % 28.7 %
Schedule of income tax effects to deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 Deferred tax liabilities ​ ​ ​ ​ ​ ​ Property and equipment ​ $ 7,437,645 ​ $ 8,141,025 Other ​ ​ 1,509,487 ​ ​ 588,632 Total deferred tax liabilities ​ $ 8,947,132 ​ $ 8,729,657 ​ ​ ​ ​ ​ ​ ​ Deferred income tax assets ​ ​ Accruals & Other ​ $ 2,325,671 ​ $ 948,704 Net operating loss carryforward-States ​ ​ 663,548 ​ ​ 910,443 Net operating loss valuation allowance-States ​ ​ (532,975) ​ ​ — Total deferred tax assets ​ $ 2,456,244 ​ $ 1,859,147 ​ ​ ​ ​ ​ ​ ​ Total net deferred tax liabilities ​ $ 6,490,888 ​ $ 6,870,510

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Sep. 30, 2024
EARNINGS PER SHARE
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, ​ ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 25,105,010 ​ $ 7,401,420 ​ ​ ​ ​ ​ Weighted average shares outstanding-basic ​ 16,570,289 ​ 16,646,086 ​ ​ ​ ​ ​ Weighted average shares outstanding-diluted ​ 16,608,038 ​ 16,670,963 ​ ​ ​ ​ ​ Earnings per share available to common shareholders ​ $ 1.52 ​ $ 0.44 ​ ​ ​ ​ ​ Earnings per share available to common shareholders-diluted ​ $ 1.51 ​ $ 0.44

STOCK REPURCHASE PLAN (Tables)

STOCK REPURCHASE PLAN (Tables)	12 Months Ended
	Sep. 30, 2024
STOCK REPURCHASE PLAN
Schedule of stock repurchases during the period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ Maximum Number of ​ ​ Number of ​ Average ​ Value of Shares Purchased ​ Shares That May Yet Be ​ ​ Shares ​ Price Paid ​ as Part of Publicly Announced ​ Purchased Under Period ​ Purchased ​ Per Share ​ Plans or Programs ​ the Plans or Programs May 2024 6,901 ​ $ 6.00 ​ $ 41,379 893,099 Total 6,901 ​ $ 6.00 ​ $ 41,379 ​

LONG TERM INCENTIVE PLAN (Table

LONG TERM INCENTIVE PLAN (Tables)	12 Months Ended
	Sep. 30, 2024
LONG TERM INCENTIVE PLAN
Schedule of restricted stock grants awarded	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercised or ​ ​ ​ ​ Outstanding at the ​ Granted during the ​ converted during the ​ Forfeited during the ​ Expired during the ​ ​ ​ Exercisable or fiscal year ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Twelve Months Ended ​ Outstanding at ​ convertible at September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, 2023 2024 2024 2024 2024 2024 2024 1,460,000 24,561 ​ — — — 1,435,439 —
Schedule of vesting shares during the period	​ ​ ​ ​ ​ restricted stock award vesting FY 2025 21,520 FY 2026 21,520 FY 2027 8,187 ​ ​ 51,227 ​

LEASE OBLIGATIONS (Tables)

LEASE OBLIGATIONS (Tables)	12 Months Ended
	Sep. 30, 2024
LEASE OBLIGATIONS
Schedule of information about operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease-Weighted Average Remaining Term ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years left Remaining liability Lease end Fiscal year end Operating lease 1 0.5 ​ $ 45,833 3/31/2025 2025 Operating lease 2 1.9 ​ 122,701 8/31/2026 2026 Operating lease 3 4.0 ​ 2,203,465 9/30/2028 2028 Operating lease 4 0.0 ​ — 9/30/2024 2024 Operating lease 5 ​ 1.5 ​ ​ 160,928 ​ 3/31/2026 ​ 2026 ​ ​ ​ ​ $ 2,532,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average remaining term ​ ​ ​ 3.7 years ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, Operating Lease Expense 2024 ​ 2023 Amortization ​ ​ ​ ​ ​ ​ Operating lease 1 ​ $ 87,167 ​ $ 72,267 Operating lease 2 ​ 74,042 ​ ​ 62,001 Operating lease 3 ​ 688,869 ​ ​ 568,114 Operating lease 4 ​ 124,701 ​ ​ 113,480 Operating lease 5 ​ ​ 101,243 ​ ​ 28,191 Total amortization ​ 1,076,022 ​ ​ 844,053 ​ ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ ​ Operating lease 1 ​ $ 3,833 ​ $ 7,355 Operating lease 2 ​ 1,892 ​ ​ 3,825 Operating lease 3 ​ 219,414 ​ ​ 87,416 Operating lease 4 ​ 4,899 ​ ​ 2,802 Operating lease 5 ​ 14,250 ​ ​ 11,391 Total interest ​ ​ 244,288 ​ ​ 112,789 Total amortization and interest ​ $ 1,320,310 ​ $ 956,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended ​ ​ September 30, ​ September 30, Cash Paid for Operating Leases ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ Operating lease 1 ​ $ 91,000 ​ $ 79,622 Operating lease 2 ​ 75,934 ​ ​ 65,826 Operating lease 3 ​ 908,283 ​ ​ 655,530 Operating lease 4 ​ 129,600 ​ ​ 116,282 Operating lease 5 ​ ​ 115,493 ​ ​ 39,582 ​ ​ $ 1,320,310 ​ $ 956,842
Schedule of operating lease maturity schedule	​ ​ ​ ​ ​ Operating Lease Maturity Schedule ​ 2025 ​ $ 1,110,028 2026 ​ 1,004,022 2027 ​ 804,467 2028 ​ 129,749 ​ ​ 3,048,266 Less amounts representing interest ​ (515,339) Present value of operating lease liabilities ​ $ 2,532,927

MAJOR CUSTOMERS (Tables)

MAJOR CUSTOMERS (Tables)	12 Months Ended
	Sep. 30, 2024
MAJOR CUSTOMERS
Schedule of Company's revenue or accounts receivable net	​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended Twelve Months Ended Revenue ​ September 30, 2024 ​ September 30, 2023 ​ TransCanada Corporation 10.4 % 13.9 % NiSource and subsidiaries * ​ 17.5 % All other 89.6 % 68.6 % Total 100.0 % 100.0 % * Less than 10.0% and included in “All other” if applicable ​ ​ ​ ​ ​ ​ Accounts receivable, net of retention at September 30, 2024 at September 30, 2023 NiSource and subsidiaries * ​ 11.8 % All other 100.0 % 88.2 % Total 100.0 % 100.0 % * Less than 10.0% and included in “All other” if applicable

RETIREMENT AND EMPLOYEE BENEF_2

RETIREMENT AND EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Sep. 30, 2024
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Schedule of multi-employer defined benefit pension plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contibutions of ​ ​ ​ ​ ​ ​ ​ ​ Pension Protection Act (“PPA”) ​ ​ ​ ​ ​ ​ Energy Services of America ​ ​ ​ ​ ​ ​ ​ ​ Certified Zone Status (1) ​ FIP/RP Status ​ ​ ​ ​ Companies ​ ​ ​ Expiration Date of ​ ​ EIN/Pension ​ ​ ​ ​ ​ Pending/ ​ ​ ​ ​ ​ ​ Surcharge ​ Collective Bargaining Pension Fund Plan Number 2023 2022 Implemented (2) ​ 2024 ​ 2023 Imposed Agreement ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Central States, Southeast and Southwest Areas Pension Fund ​ 36-6044243/001 Green Red Implemented $ 197,890 $ 160,566 no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Laborers National Pension Fund 75-1280827/001 Red Red Implemented ​ 220,354 ​ 46,167 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Laborers' District Council of Western Pennsylvania Pension Plan ​ 25-6135576/001 ​ Yellow ​ Yellow ​ Implemented ​ ​ 4,026 ​ ​ — ​ no ​ Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Engineers Local 324 Pension Fund ​ 38-1900637/001 ​ Red ​ Red ​ Implemented ​ ​ 50,666 ​ ​ 837 ​ no ​ Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ National Automatic Sprinkler Industry Pension Fund 52-6054620/001 Green Red Implemented ​ 570,197 ​ 214,590 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carpenters Pension Fund of WV 55-6027998/001 Red Red Implemented ​ 871,079 ​ 907,515 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plumbers & Pipefitters National Pension Fund 52-6152779/001 Green Yellow Implemented ​ 1,964,549 ​ 817,059 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ Sheet Metal Workers' National Pension Fund 52-6112463/001 Green Yellow Implemented ​ 370,727 ​ 188,749 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ Plumbers and Steamfitters Local 577 Pension Fund 31-6134953/001 Red Red Implemented ​ — ​ 5,623 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sheet Metal Workers Local Pension Fund 34-6666753/001 Red Red Implemented ​ 4,716 ​ — ​ no Various ​ ​ ​ ​ ​ ​ ​ All Other Green Green ​ 5,729,480 ​ 9,258,051 ​ no Various ​ ​ ​ ​ ​ ​ ​ ​ $ 9,983,684 ​ $ 11,599,157 ​ ​ (1) The most recent PPA zone status available in 2024 and 2023 is the plan’s year-end during 2023 and 2022, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. (2) Indicates whether the plan has a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) which is either pending or has been implemented.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Sep. 30, 2024
ACQUISITIONS
Schedule of acquisition purchase price	​ ​ ​ ​ ​ Property and equipment $ 178,900 Customer relationships ​ ​ 121,100 Total ​ $ 300,000

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Sep. 30, 2024
GOODWILL AND INTANGIBLE ASSETS
Summary of changes in goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 4,087,554 $ 4,087,554 ​ ​ ​ ​ ​ ​ ​ Acquired ​ — ​ — ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 4,087,554 ​ $ 4,087,554
Schedule of intangible assets subject to amortization	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Accumulated Amortization and Amortization and ​ ​ ​ ​ Remaining Life ​ ​ ​ ​ Amortization and ​ Amortization and ​ Impairment ​ Impairment ​ Net Book ​ Net Book ​ ​ (in months) at ​ ​ ​ ​ Impairment at ​ Impairment at ​ Twelve Months Ended ​ Twelve Months Ended ​ Value at ​ Value at ​ ​ September 30, ​ Original ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, ​ September 30, Intangible assets: ​ 2024 ​ Cost ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ West Virginia Pipeline: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 75 ​ $ 2,209,724 ​ ​ 828,630 ​ $ 607,661 ​ ​ 220,969 ​ ​ 220,968 ​ $ 1,381,094 ​ $ 1,602,063 Tradename ​ 75 ​ ​ 263,584 ​ ​ 98,863 ​ ​ 72,500 ​ ​ 26,363 ​ ​ 26,364 ​ ​ 164,721 ​ ​ 191,084 Non-competes — ​ ​ 83,203 ​ ​ 83,203 ​ ​ 83,203 ​ ​ — ​ ​ 10,397 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolt Energy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employment agreement/non-compete — ​ 100,000 ​ 100,000 ​ 100,000 ​ ​ — ​ 22,221 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Heritage Painting Customer relationships ​ 57 ​ ​ 121,100 ​ ​ 6,054 ​ ​ — ​ ​ 6,054 ​ ​ — ​ ​ 115,046 ​ ​ — Tri-State Paving: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ 91 ​ ​ 1,649,159 ​ ​ 398,547 ​ ​ 233,631 ​ ​ 164,916 ​ ​ 166,850 ​ ​ 1,250,612 ​ ​ 1,415,528 Tradename ​ 91 ​ ​ 203,213 ​ ​ 49,110 ​ ​ 28,789 ​ ​ 20,321 ​ ​ 20,421 ​ ​ 154,103 ​ ​ 174,424 Non-competes ​ — ​ ​ 39,960 ​ ​ 39,960 ​ ​ 39,960 ​ ​ — ​ ​ 23,370 ​ ​ — ​ ​ — Total intangible assets ​ $ 4,669,943 ​ $ 1,604,367 ​ $ 1,165,744 ​ $ 438,623 ​ $ 490,591 ​ $ 3,065,576 ​ $ 3,383,099
Schedule of amortization on identifiable intangible assets	​ ​ ​ ​ ​ ​ Amortization Expense October 2024 to September 2025 ​ $ 456,780 October 2025 to September 2026 ​ 456,780 October 2026 to September 2027 ​ 456,780 October 2027 to September 2028 ​ 456,780 October 2028 to September 2029 ​ 450,746 After ​ ​ 787,710 Total ​ $ 3,065,576 ​

BUSINESS AND ORGANIZATION (Deta

BUSINESS AND ORGANIZATION (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
BUSINESS AND ORGANIZATION
Operating revenue	$ 351,876,861	$ 304,104,492
Gas & Water Distribution
BUSINESS AND ORGANIZATION
Operating revenue	$ 82,426,199	$ 68,066,230
Percentage of revenue	23.30%	20.90%
Gas & Petroleum Transmission
BUSINESS AND ORGANIZATION
Operating revenue	$ 81,055,175	$ 87,347,295
Percentage of revenue	23.50%	30.30%
Electrical, Mechanical, and General
BUSINESS AND ORGANIZATION
Percentage of revenue	53.20%	48.80%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Aggregate principal amount of fixed-rate debt	$ 25,600,000	$ 33,800,000
Fair value of aggregate principal amount of debt	24,700,000	32,100,000
Surety deposit balance	2,000,000	1,900,000
Advertising expense	$ 279,000	$ 138,000
Buildings
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Estimated useful lives	39 years
Minimum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Billing and payment term	30 days
Minimum | Operating equipment and vehicles
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Estimated useful lives	5 years
Minimum | Office equipment, furniture and fixtures
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Estimated useful lives	5 years
Maximum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Billing and payment term	45 days
Maximum | Operating equipment and vehicles
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Estimated useful lives	7 years
Maximum | Office equipment, furniture and fixtures
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Estimated useful lives	7 years

ACCOUNTING FOR PPP LOANS (Detai

ACCOUNTING FOR PPP LOANS (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Apr. 27, 2020	Apr. 30, 2023	Sep. 30, 2021	Sep. 30, 2020	Apr. 07, 2020
ACCOUNTING FOR PPP LOANS
PPP loans received				$ 9.8
PPP Loans
ACCOUNTING FOR PPP LOANS
Lender aggregate principal amount					$ 13.1
Unanimously voted to return loans	$ 3.3
Amount of PPP loans to fund operations	9.8
PPP loans received	$ 9.8		$ 9.8
Short-term borrowings due to accrued interest		$ 9.8

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
DISAGGREGATION OF REVENUE
Operating revenue	$ 351,876,861	$ 304,104,492
Earned over time
DISAGGREGATION OF REVENUE
Operating revenue	214,705,335	219,596,530
Earned at point in time
DISAGGREGATION OF REVENUE
Operating revenue	137,171,526	84,507,962
Lump sum contracts
DISAGGREGATION OF REVENUE
Operating revenue	121,997,872	101,700,805
Unit price contracts
DISAGGREGATION OF REVENUE
Operating revenue	157,833,157	160,914,736
Cost plus and T&M contracts
DISAGGREGATION OF REVENUE
Operating revenue	72,045,832	41,488,951
Gas & Water Distribution
DISAGGREGATION OF REVENUE
Operating revenue	82,426,199	68,066,230
Gas & Water Distribution | Earned over time
DISAGGREGATION OF REVENUE
Operating revenue	9,541,650	25,184,336
Gas & Water Distribution | Earned at point in time
DISAGGREGATION OF REVENUE
Operating revenue	72,884,549	42,881,894
Gas & Water Distribution | Lump sum contracts
DISAGGREGATION OF REVENUE
Operating revenue	0	0
Gas & Water Distribution | Unit price contracts
DISAGGREGATION OF REVENUE
Operating revenue	82,426,199	68,066,230
Gas & Water Distribution | Cost plus and T&M contracts
DISAGGREGATION OF REVENUE
Operating revenue	0	0
Gas & Petroleum Transmission
DISAGGREGATION OF REVENUE
Operating revenue	81,055,175	87,347,295
Gas & Petroleum Transmission | Earned over time
DISAGGREGATION OF REVENUE
Operating revenue	71,265,020	86,738,111
Gas & Petroleum Transmission | Earned at point in time
DISAGGREGATION OF REVENUE
Operating revenue	9,790,155	609,184
Gas & Petroleum Transmission | Lump sum contracts
DISAGGREGATION OF REVENUE
Operating revenue	0	0
Gas & Petroleum Transmission | Unit price contracts
DISAGGREGATION OF REVENUE
Operating revenue	71,265,020	86,738,111
Gas & Petroleum Transmission | Cost plus and T&M contracts
DISAGGREGATION OF REVENUE
Operating revenue	9,790,155	609,184
Electrical, Mechanical, & General
DISAGGREGATION OF REVENUE
Operating revenue	188,395,487	148,690,967
Electrical, Mechanical, & General | Earned over time
DISAGGREGATION OF REVENUE
Operating revenue	133,898,665	107,674,083
Electrical, Mechanical, & General | Earned at point in time
DISAGGREGATION OF REVENUE
Operating revenue	54,496,822	41,016,884
Electrical, Mechanical, & General | Lump sum contracts
DISAGGREGATION OF REVENUE
Operating revenue	121,997,872	101,700,805
Electrical, Mechanical, & General | Unit price contracts
DISAGGREGATION OF REVENUE
Operating revenue	4,141,938	6,110,395
Electrical, Mechanical, & General | Cost plus and T&M contracts
DISAGGREGATION OF REVENUE
Operating revenue	$ 62,255,677	$ 40,879,767

CONTRACT BALANCES - Accounts re

CONTRACT BALANCES - Accounts receivable-trade, net of allowance for doubtful accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CONTRACT BALANCES
Accounts receivable-trade, net of allowance for doubtful accounts	$ 56,064,318	$ 51,168,895
Change in accounts receivable-trade, net of allowance for doubtful accounts	4,895,423
Contract assets
Cost and estimated earnings in excess of billings	24,595,792	15,955,220
Change in cost and estimated earnings in excess of billings	8,640,572	(154,373)
Contract liabilities
Billings in excess of cost and estimated earnings	16,950,988	17,743,001
Change in billings in excess of cost and estimated earnings	$ (792,013)	$ 11,715,423

CONTRACT BALANCES - Additional

CONTRACT BALANCES - Additional information (Details) $ in Millions	12 Months Ended
	Sep. 30, 2024 USD ($)
CONTRACT BALANCES
Recognized revenue included in contract liability	$ 16.5
Minimum
CONTRACT BALANCES
Billing and payment term	30 days
Maximum
CONTRACT BALANCES
Billing and payment term	45 days

PERFORMANCE OBLIGATIONS (Detail

PERFORMANCE OBLIGATIONS (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
PERFORMANCE OBLIGATIONS
Recognized revenue	$ 0	$ 0
Amount of remaining unsatisfied performance obligations	$ 158,600,000

ALLOWANCE FOR DOUBTFUL ACCOUN_3

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Allowance for Doubtful Accounts Receivable
Balance at beginning of period	$ 51,063	$ 70,310
Charged to expense	687,463	0
Deductions for uncollectible receivables written off, net of recoveries	0	(19,247)
Balance at end of period	$ 738,526	$ 51,063

UNCOMPLETED CONTRACTS - Summary

UNCOMPLETED CONTRACTS - Summary of costs, estimated earnings, and billings on uncompleted contracts (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
UNCOMPLETED CONTRACTS
Costs incurred on contracts in progress	$ 347,180,901	$ 287,347,650
Estimated earnings, net of estimated losses	59,349,378	38,976,895
Costs of uncompleted contracts including net estimated earnings	406,530,279	326,324,545
Less billings to date	398,885,475	328,112,326
Unbilled contracts	7,644,804	(1,787,781)
Costs and estimated earnings in excess of billed on uncompleted contracts	24,595,792	15,955,220
Billings in excess of cost and estimated earnings	16,950,988	17,743,001
Unbilled contracts receivable	$ 7,644,804	$ (1,787,781)

UNCOMPLETED CONTRACTS - Backlog

UNCOMPLETED CONTRACTS - Backlog (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
UNCOMPLETED CONTRACTS
Backlog	$ 243.2	$ 229.8

PROVISION FOR LOSS (Details)

PROVISION FOR LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
PROVISION FOR LOSS
Provision for bad debts	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	$ 91,885,621	$ 84,329,349
Less accumulated depreciation	53,749,907	47,799,840
Total fixed assets	38,135,714	36,529,509
Land
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	3,258,838	2,974,354
Buildings and leasehold improvements
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	11,534,943	10,000,570
Operating equipment and vehicles
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	75,768,103	70,126,093
Office equipment, furniture and fixtures
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	1,235,965	1,225,570
Assets not yet in service
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment	$ 87,772	$ 2,762

SHORT-TERM DEBT (Details)

SHORT-TERM DEBT (Details)			1 Months Ended	12 Months Ended
	Aug. 08, 2024 USD ($)	Apr. 27, 2020 USD ($)	Apr. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2023 USD ($)	Apr. 07, 2020 USD ($)
SHORT-TERM DEBT
Line of credit				$ 25,089,446			$ 23,942,868
Interest rate				8%			8.50%
Line of credit balance available				$ 20,589,446			$ 15,229,953
Insurance policy premium outstanding				0			$ 950,000
PPP loans received						$ 9,800,000
PPP Loans
SHORT-TERM DEBT
Lender aggregate principal amount								$ 13,100,000
Unanimously voted to return loans		$ 3,300,000
Amount of PPP loans to fund operations		9,800,000
PPP loans received		$ 9,800,000			$ 9,800,000
Short-term borrowings due to accrued interest			$ 9,800,000
Revolving credit facility | United Bank, Inc.
SHORT-TERM DEBT
Line of credit	$ 30,000,000
Interest rate on the line of credit description	Wall Street Journal” Prime Rate
Interest rate on line of credit	4.99%
Minimum tangible net worth				$ 28,000,000
Minimum traditional debt service coverage ratio				1.50x
Minimum current ratio				1.20x
Maximum debt to tangible net worth ratio				2.75x
Ratio to be maintained by borrower for maximum senior funded debt to EBDITA				3.5

SHORT-TERM DEBT Operating Line

SHORT-TERM DEBT Operating Line of Credit (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
SHORT-TERM DEBT
Eligible borrowing base	$ 25,089,446	$ 23,942,868
Borrowed on line of credit	4,500,000	8,712,915
Line of credit balance available	$ 20,589,446	$ 15,229,953
Interest rate	8%	8.50%

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
SHORT-TERM AND LONG-TERM DEBT
Total debt	$ 33,853,583	$ 44,825,276
Less current maturities	16,665,591	25,954,747
Total long-term debt	17,187,992	18,870,529
Line of credit payable to bank, final payment due by june 28, 2025
SHORT-TERM AND LONG-TERM DEBT
Total debt	4,500,000	8,712,915
Equipment line of credit, due January 2024 through February 2028
SHORT-TERM AND LONG-TERM DEBT
Total debt	7,802,313	8,487,085
Paycheck Protection Program loans from Small Business Administration, 1.0% simple interest, initially forgiven in the fiscal year ended September 30, 2021. Final forgiveness decision has not been determined.
SHORT-TERM AND LONG-TERM DEBT
Total debt	10,292,676	10,184,320
Term note payable to United Bank, WV Pipeline acquisition, final payment due by March 25, 2026
SHORT-TERM AND LONG-TERM DEBT
Total debt	1,134,185	1,790,051
Notes payable to finance companies due October 2024 through August 2026
SHORT-TERM AND LONG-TERM DEBT
Total debt	1,787,009	1,290,148
Notes payable to finance companies, final payment, due December 2023
SHORT-TERM AND LONG-TERM DEBT
Total debt		950,235
Notes payable to bank, final payment due November 2034
SHORT-TERM AND LONG-TERM DEBT
Total debt	762,670	813,242
Notes payable to bank, final payment due November 2025
SHORT-TERM AND LONG-TERM DEBT
Total debt		294,761
Notes payable to banks due October 2027
SHORT-TERM AND LONG-TERM DEBT
Total debt	2,024,847	2,601,404
Notes payable to David and Daniel Bolton due final payment December 31, 2026
SHORT-TERM AND LONG-TERM DEBT
Total debt	940,000	1,660,000
Notes payable to bank, monthly interest rate at 4.25%, final payment due January 2026
SHORT-TERM AND LONG-TERM DEBT
Total debt		1,873,831
Term notes payable to United Bank, Tri-State Paving acquisition, final payment due by June 1, 2027
SHORT-TERM AND LONG-TERM DEBT
Total debt	4,359,883	5,698,761
Notes payable to Corns Enterprises, final payment due April 29, 2026
SHORT-TERM AND LONG-TERM DEBT
Total debt	$ 250,000	$ 468,523

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Details) (Parenthetical) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
SHORT-TERM AND LONG-TERM DEBT
Line of credit	$ 25,089,446	$ 23,942,868
Fair value of debt	$ 24,700,000	32,100,000
Line of credit payable to bank, final payment due by june 28, 2025
SHORT-TERM AND LONG-TERM DEBT
Interest rate	8%
Equipment line of credit, due January 2024 through February 2028
SHORT-TERM AND LONG-TERM DEBT
Interest rate	7.25%
Borrowed on line of credit	$ 9,300,000	8,500,000
Line of credit	9,300,000
Note payable in monthly or annual installments	$ 202,809
Paycheck Protection Program loans from Small Business Administration, 1.0% simple interest, initially forgiven in the fiscal year ended September 30, 2021. Final forgiveness decision has not been determined.
SHORT-TERM AND LONG-TERM DEBT
Interest rate				1%
Term note payable to United Bank, WV Pipeline acquisition, final payment due by March 25, 2026
SHORT-TERM AND LONG-TERM DEBT
Interest rate	4.25%
Note payable in monthly or annual installments	$ 64,853
Notes payable to finance companies due October 2024 through August 2026
SHORT-TERM AND LONG-TERM DEBT
Note payable in monthly or annual installments	$ 76,000	$ 50,000
Notes payable to finance companies due October 2024 through August 2026 | Minimum
SHORT-TERM AND LONG-TERM DEBT
Interest rate	0%
Notes payable to finance companies due October 2024 through August 2026 | Maximum
SHORT-TERM AND LONG-TERM DEBT
Interest rate	6%
Notes payable to finance companies, final payment, due December 2023
SHORT-TERM AND LONG-TERM DEBT
Interest rate		6.70%
Note payable in monthly or annual installments		$ 327,000	$ 282,000
Notes payable to bank, final payment due November 2034
SHORT-TERM AND LONG-TERM DEBT
Interest rate	4.82%
Note payable in monthly or annual installments	$ 7,848
Notes payable to bank, final payment due November 2025
SHORT-TERM AND LONG-TERM DEBT
Interest rate	9.50%
Note payable in monthly or annual installments	$ 12,580
Notes payable to banks due October 2027
SHORT-TERM AND LONG-TERM DEBT
Interest rate	6%
Note payable in monthly or annual installments	$ 59,932
Notes payable to David and Daniel Bolton due final payment December 31, 2026
SHORT-TERM AND LONG-TERM DEBT
Interest rate	3.25%
Note payable in monthly or annual installments	$ 500,000
Notes payable to bank, monthly interest rate at 4.25%, final payment due January 2026
SHORT-TERM AND LONG-TERM DEBT
Interest rate	4.25%
Note payable in monthly or annual installments	$ 68,150
Notes payable to bank, monthly interest rate at 9.5%, final payment due January 2026
SHORT-TERM AND LONG-TERM DEBT
Interest rate	9.50%
Term notes payable to United Bank, Tri-State Paving acquisition, final payment due by June 1, 2027
SHORT-TERM AND LONG-TERM DEBT
Interest rate	4.50%
Note payable in monthly or annual installments	$ 129,910
Notes payable to Corns Enterprises, final payment due April 29, 2026
SHORT-TERM AND LONG-TERM DEBT
Interest rate	3.50%
Note payable in monthly or annual installments	$ 1,000,000
Fair value of debt	936,000
Notes payable on annual installments	$ 250,000

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT - future expected payments due on short-term and long-term debt (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
SHORT-TERM AND LONG-TERM DEBT
2025	$ 16,665,591
2026	10,238,734
2027	4,591,906
2028	1,775,120
2029	62,726
Thereafter	519,506
Total debt	$ 33,853,583	$ 44,825,276

INCOME TAXES - Components of in

INCOME TAXES - Components of income taxes (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Federal
Current	$ 7,218,772	$ 432,251
Deferred	(364,036)	1,865,019
Total	6,854,736	2,297,270
State
Current	1,576,518	127,568
Deferred	(15,587)	550,412
Total	1,560,931	677,980
Total income tax expense (benefit)	$ 8,415,667	$ 2,975,250

INCOME TAXES - Summary of effec

INCOME TAXES - Summary of effective income tax rates are estimates taxable income or loss, non-taxable and non-deductible expenses (Details)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
INCOME TAXES
Federal rate	21%	21%
State income taxes	4.70%	6%
Meals and other	(0.60%)	1.70%
Effective tax rate	25.10%	28.70%

INCOME TAXES - Summary of incom

INCOME TAXES - Summary of income tax effects of temporary differences giving rise to the deferred tax assets and liabilities (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Deferred tax liabilities
Property and equipment	$ 7,437,645	$ 8,141,025
Other	1,509,487	588,632
Total deferred tax liabilities	8,947,132	8,729,657
Deferred income tax assets
Accruals & Other	2,325,671	948,704
Net operating loss carryforward-States	663,548	910,443
Net operating loss valuation allowance-States	(532,975)
Total deferred tax assets	2,456,244	1,859,147
Total net deferred tax liabilities	$ 6,490,888	$ 6,870,510

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
INCOME TAXES
Federal rate	21%	21%
State rate	4.70%	6%
Effective tax rate	25.10%	28.70%
Minimum
INCOME TAXES
State rate	5%
Maximum
INCOME TAXES
State rate	6%
Federal
INCOME TAXES
Net operating loss carryforwards	$ 0	$ 3
State
INCOME TAXES
Net operating loss carryforwards	$ 20.5	$ 23.3

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended								12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2024	Sep. 30, 2023
EARNINGS PER SHARE
Net income	$ 6,658,016	$ 17,513,627	$ (1,108,828)	$ 2,042,195	$ 5,721,100	$ 3,415,546	$ (1,873,600)	$ 138,374	$ 25,105,010	$ 7,401,420
Weighted average shares outstanding-basic									16,570,289	16,646,086
Weighted average shares outstanding-diluted									16,608,038	16,670,963
Earnings per share available to common shareholders									$ 1.52	$ 0.44
Earnings per share available to common shareholders-diluted									$ 1.51	$ 0.44

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - Restricted stock awards	12 Months Ended
	Sep. 30, 2024 shares
EARNINGS PER SHARE
Dilutive effect of restricted stock grants	37,749
Number of unvested shares	51,227

STOCK REPURCHASE PLAN (Details)

STOCK REPURCHASE PLAN (Details) - Employee Stock Purchase Plan	Jul. 06, 2022 shares
STOCK PURCHASE PLAN
Percent of shares repurchased to its outstanding common stock	6%
Maximum
STOCK PURCHASE PLAN
Maximum number of common stocks agreed to repurchase	1,000,000

STOCK REPURCHASE PLAN - Stock R

STOCK REPURCHASE PLAN - Stock Repurchases (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2024	Sep. 30, 2024
STOCK REPURCHASE PLAN
Total Number of Shares Purchased	6,901	6,901
Average Price Paid Per Share	$ 6	$ 6
Value of Shares Purchased as Part of Publicly Announced Plans or Programs	$ 41,379	$ 41,379
Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs	893,099

LONG TERM INCENTIVE PLAN (Detai

LONG TERM INCENTIVE PLAN (Details) - 2022 Equity Incentive Plan - USD ($)	12 Months Ended
	Sep. 30, 2024	Feb. 16, 2022
LONG TERM INCENTIVE PLAN
Maximum number of shares of stock, granted under the Plan as stock options, restricted stock or restricted stock units		1,500,000
Compensation expense	$ 50,000

LONG TERM INCENTIVE PLAN - Rest

LONG TERM INCENTIVE PLAN - Restricted stocks grants awarded (Details) - Restricted stock awards - 2022 Equity Incentive Plan	12 Months Ended
	Sep. 30, 2024 shares
LONG TERM INCENTIVE PLAN
Available at the beginning of current fiscal year	1,460,000
Granted during current fiscal year	24,561
Available at the end of current fiscal year	1,435,439

LONG TERM INCENTIVE PLAN - Vest

LONG TERM INCENTIVE PLAN - Vesting shares (Details) - Restricted stock awards - 2022 Equity Incentive Plan	Sep. 30, 2024 shares
LONG TERM INCENTIVE PLAN
Total vesting of shares during the year	51,227
FY 2025
LONG TERM INCENTIVE PLAN
Total vesting of shares during the year	21,520
FY 2026
LONG TERM INCENTIVE PLAN
Total vesting of shares during the year	21,520
FY 2027
LONG TERM INCENTIVE PLAN
Total vesting of shares during the year	8,187

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	12 Months Ended
	Sep. 30, 2024
RELATED PARTY TRANSACTIONS
Percentage of shares of common stock transaction between executive, officers, directors and holders	10% or more

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional information (Details) - USD ($)			1 Months Ended	12 Months Ended
	Apr. 30, 2022	Apr. 29, 2022	Aug. 31, 2022	Sep. 30, 2024	Sep. 30, 2023
RELATED PARTY TRANSACTIONS
Aggregate principal amount of fixed-rate debt				$ 25,600,000	$ 33,800,000
Fair value of debt				24,700,000	32,100,000
Payments to acquire business gross				300,000
Carrying value				2,531,227	3,326,405
Unconditional guarantee			$ 5,000,000
Related Party | C J Hughes Construction Company
RELATED PARTY TRANSACTIONS
Equipment Rental Expense				318,000	$ 387,000
Development | Ventures
RELATED PARTY TRANSACTIONS
Ownership percentage			75%
Landlord | Development
RELATED PARTY TRANSACTIONS
Ownership percentage by non controlling owners			1%
Landlord | United Bank
RELATED PARTY TRANSACTIONS
Ownership percentage by parent			99%
SQP
RELATED PARTY TRANSACTIONS
Aggregate principal amount of fixed-rate debt			$ 5,000,000
SQP | Development
RELATED PARTY TRANSACTIONS
Equity investment			$ 156,000
SQP | Development
RELATED PARTY TRANSACTIONS
Equity method investment ownership percentage			25%
Tri State Paving
RELATED PARTY TRANSACTIONS
Aggregate principal amount of fixed-rate debt				236,000
Carrying value				46,000
Unsecured loan agreement with David Bolton and Daniel Bolton
RELATED PARTY TRANSACTIONS
Interest rate		3.50%
Unsecured loan agreement with David Bolton and Daniel Bolton | Tri State Paving
RELATED PARTY TRANSACTIONS
Interest payment	$ 7,000
Promissory Note agreement with Corns Enterprises
RELATED PARTY TRANSACTIONS
Term of loan agreement		4 years
Aggregate principal amount of fixed-rate debt		$ 1,000,000
Principal installment payments				$ 750,000
Fair value of debt		$ 250,000

LEASE OBLIGATIONS (Details)

LEASE OBLIGATIONS (Details)					12 Months Ended
	Aug. 12, 2022 USD ($) item	Aug. 11, 2022 USD ($) item	Apr. 29, 2022 USD ($) item	Mar. 25, 2021 Y	Sep. 30, 2024 USD ($) agreement	Sep. 30, 2023 USD ($)	Mar. 28, 2023 USD ($)
LEASE OBLIGATIONS
Operating lease payments for office space per month					$ 1,500
Term of operating lease				2 years
Number of renewable options available | Y				5
Operating lease, renewal term				1 year	1 year
Number of financing leases entered | agreement					2
Finance lease, value					$ 160,000
Term of finance leases					22 months
Finance lease, interest rate					0%
Finance lease, monthly installment payments					$ 6,645
Option to cancel the finance lease					false
Number of right of use operating leases | item			2
Carrying value					$ 907,503	$ 1,075,815
Rental expense					16,300,000	12,100,000
Operating Lease for Hurricane, WV Facility
LEASE OBLIGATIONS
Net present value			$ 236,000
Carrying value					$ 46,000
Interest rate on operating lease					4.50%
Operating Lease for Winchester, Kentucky Facility
LEASE OBLIGATIONS
Net present value							$ 290,000
Carrying value					$ 161,000
Interest rate on operating lease					7.50%
Operating Lease for Chattanooga, Tennessee Facility
LEASE OBLIGATIONS
Operating lease, renewal term					2 years
Net present value			$ 144,000		$ 140,000
Carrying value					$ 123,000
Interest rate on operating lease					8.50%
Operating Lease with Enterprise
LEASE OBLIGATIONS
Net present value	$ 2,000,000	$ 1,200,000
Carrying value					$ 2,200,000
Number of vehicles to be used | item	43	31
Operating Lease with RICA Developers, LLC
LEASE OBLIGATIONS
Operating lease, renewal term					1 year
Net present value	$ 140,000				$ 125,000
Carrying value					$ 0	$ 0
Interest rate on operating lease					8.50%	4.50%

LEASE OBLIGATIONS - Operating l

LEASE OBLIGATIONS - Operating lease-weighted average remaining term (Details)	Sep. 30, 2024 USD ($)
LEASE OBLIGATIONS
Weighted average remaining term	3 years 8 months 12 days
Present value of remaining liability	$ 2,532,927
Operating lease 1
LEASE OBLIGATIONS
Weighted average remaining term	6 months
Present value of remaining liability	$ 45,833
Operating lease 2
LEASE OBLIGATIONS
Weighted average remaining term	1 year 10 months 24 days
Present value of remaining liability	$ 122,701
Operating lease 3
LEASE OBLIGATIONS
Weighted average remaining term	4 years
Present value of remaining liability	$ 2,203,465
Operating lease 4
LEASE OBLIGATIONS
Weighted average remaining term	0 years
Operating lease 5
LEASE OBLIGATIONS
Weighted average remaining term	1 year 6 months
Present value of remaining liability	$ 160,928

LEASE OBLIGATIONS - Operating_2

LEASE OBLIGATIONS - Operating lease maturity schedule (Details)	Sep. 30, 2024 USD ($)
LEASE OBLIGATIONS
2025	$ 1,110,028
2026	1,004,022
2027	804,467
2028	129,749
Operating lease liability	3,048,266
Less amounts representing interest	(515,339)
Present value of operating lease liabilities	$ 2,532,927

LEASE OBLIGATIONS - Operating_3

LEASE OBLIGATIONS - Operating lease expense (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
LEASE OBLIGATIONS
Total amortization	$ 1,076,022	$ 844,053
Total interest	244,288	112,789
Total amortization and interest	1,320,310	956,842
Cash Paid for Operating Leases	1,320,310	956,842
Operating lease 1
LEASE OBLIGATIONS
Total amortization	87,167	72,267
Total interest	3,833	7,355
Cash Paid for Operating Leases	91,000	79,622
Operating lease 2
LEASE OBLIGATIONS
Total amortization	74,042	62,001
Total interest	1,892	3,825
Cash Paid for Operating Leases	75,934	65,826
Operating lease 3
LEASE OBLIGATIONS
Total amortization	688,869	568,114
Total interest	219,414	87,416
Cash Paid for Operating Leases	908,283	655,530
Operating lease 4
LEASE OBLIGATIONS
Total amortization	124,701	113,480
Total interest	4,899	2,802
Cash Paid for Operating Leases	129,600	116,282
Operating lease 5
LEASE OBLIGATIONS
Total amortization	101,243	28,191
Total interest	14,250	11,391
Cash Paid for Operating Leases	$ 115,493	$ 39,582

MAJOR CUSTOMERS (Details)

MAJOR CUSTOMERS (Details) - Customer concentration risk	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
MAJOR CUSTOMERS
Customers concentration percentage	10%
Revenue
MAJOR CUSTOMERS
Customers concentration percentage	100%	100%
Revenue | TransCanada Corporation
MAJOR CUSTOMERS
Customers concentration percentage	10.40%	13.90%
Revenue | NiSource and subsidiaries
MAJOR CUSTOMERS
Customers concentration percentage		17.50%
Revenue | All other
MAJOR CUSTOMERS
Customers concentration percentage	89.60%	68.60%
Revenue | Customer one
MAJOR CUSTOMERS
Customers concentration percentage	10%
Accounts receivable, net of retention
MAJOR CUSTOMERS
Customers concentration percentage	100%	100%
Accounts receivable, net of retention | NiSource and subsidiaries
MAJOR CUSTOMERS
Customers concentration percentage		11.80%
Accounts receivable, net of retention | All other
MAJOR CUSTOMERS
Customers concentration percentage	100%	88.20%
Accounts receivable, net of retention | Customer two
MAJOR CUSTOMERS
Customers concentration percentage	10%

RETIREMENT AND EMPLOYEE BENEF_3

RETIREMENT AND EMPLOYEE BENEFIT PLANS - C.J. Hughes retirement plan (Details) - Union Employees Retirement Plan - C J Hughes Construction Company - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Percentage of employees contribution to retirement compensation plan	15%	15%
Maximum amount of employees contribution	$ 23,000	$ 22,500
Amount of contribution matched per dollar	$ 0.25	$ 0.25
Percentage of contribution of eligible wages	6%	6%
Amount of contribution to union plan	$ 37,000	$ 17,000

RETIREMENT AND EMPLOYEE BENEF_4

RETIREMENT AND EMPLOYEE BENEFIT PLANS - Energy Services of America retirement plan (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Non Union Employees Retirement Plan | Nitro Electric And C. J. Hughes Construction Company merger
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Defined contribution plan employer matching contribution percent of each dollar contributed for the first 3%	100%
Defined contribution plan employer matching contribution percent of each dollar contributed for the next 3%	50%
Retirement Plan | Energy Services of America
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Amount of contribution to union plan	$ 864,000	$ 599,000

RETIREMENT AND EMPLOYEE BENEF_5

RETIREMENT AND EMPLOYEE BENEFIT PLANS - Summary of Participation in Pension Fund Plan (Details) - USD ($)		12 Months Ended
	Dec. 15, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Multiemployer plan, employer contribution, cost, Total		$ 9,983,684	$ 11,599,157
Payments for installment	$ 41,000
Amount expensed		$ 0	$ 164,000
Central States, Southeast and Southwest Areas Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		36-6044243/001	36-6044243/001	36-6044243/001
Pension Protection Act ("PPA") Certified Zone Status			Green	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 197,890	$ 160,566
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Laborers National Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		75-1280827/001	75-1280827/001	75-1280827/001
Pension Protection Act ("PPA") Certified Zone Status			Red	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 220,354	$ 46,167
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Laborers' District Council of Western Pennsylvania Pension Plan
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		25-6135576/001	25-6135576/001	25-6135576/001
Pension Protection Act ("PPA") Certified Zone Status			Yellow	Yellow
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 4,026
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Operating Engineers Local 324 Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		38-1900637/001	38-1900637/001	38-1900637/001
Pension Protection Act ("PPA") Certified Zone Status			Red	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 50,666	$ 837
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
National Automatic Sprinkler Industry Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		52-6054620/001	52-6054620/001	52-6054620/001
Pension Protection Act ("PPA") Certified Zone Status			Green	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 570,197	$ 214,590
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Carpenters Pension Fund of WV
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		55-6027998/001	55-6027998/001	55-6027998/001
Pension Protection Act ("PPA") Certified Zone Status			Red	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 871,079	$ 907,515
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Plumbers & Pipefitters National Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		52-6152779/001	52-6152779/001	52-6152779/001
Pension Protection Act ("PPA") Certified Zone Status			Green	Yellow
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 1,964,549	$ 817,059
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Sheet Metal Workers' National Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		52-6112463/001	52-6112463/001	52-6112463/001
Pension Protection Act ("PPA") Certified Zone Status			Green	Yellow
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 370,727	$ 188,749
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Plumbers and Steamfitters Local 577 Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		31-6134953/001	31-6134953/001	31-6134953/001
Pension Protection Act ("PPA") Certified Zone Status			Red	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies			$ 5,623
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Sheet Metal Workers Local Pension Fund
RETIREMENT AND EMPLOYEE BENEFIT PLANS
EIN/Pension Plan Number		34-6666753/001	34-6666753/001	34-6666753/001
Pension Protection Act ("PPA") Certified Zone Status			Red	Red
FIP/RP Status		Implemented	Implemented	Implemented
Contributions of Energy Services Companies		$ 4,716
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
All Other
RETIREMENT AND EMPLOYEE BENEFIT PLANS
Pension Protection Act ("PPA") Certified Zone Status			Green	Green
Surcharge Imposed		No	No	No
Expiration Date of Collective Bargaining Agreement		Various	Various	Various
Multiemployer plan, pension, insignificant, employer contribution, cost		$ 5,729,480	$ 9,258,051

CREDIT RISK (Details)

CREDIT RISK (Details) $ in Millions	Sep. 30, 2024 USD ($)
CREDIT RISK
Uninsured deposits	$ 13.2

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2024
COMMITMENTS AND CONTINGENCIES
Performance bonds outstanding amount		$ 117.6
PPP loans received	$ 9.8

ACQUISITIONS - Purchase Price (

ACQUISITIONS - Purchase Price (Details) - USD ($)		12 Months Ended
	Jul. 11, 2024	Sep. 30, 2024
ACQUISITIONS
Payments to acquire business gross		$ 300,000
Heritage painting
ACQUISITIONS
Property and equipment		178,900
Customer relationships		121,100
Total		$ 300,000
Payments to acquire business gross	$ 300,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Goodwill
Beginning balance	$ 4,087,554	$ 4,087,554
Ending balance	$ 4,087,554	$ 4,087,554

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible assets subject to amortization (Details) - USD ($)			12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
GOODWILL AND INTANGIBLE ASSETS
Original Cost	$ 4,669,943		$ 4,669,943
Accumulated Amortization and Impairment	1,604,367	$ 1,165,744	438,623	$ 490,591
Net Book Value	$ 3,065,576	3,383,099	$ 3,065,576	3,383,099
Customer Relationships | West Virginia Pipeline
GOODWILL AND INTANGIBLE ASSETS
Remaining Life	75 months		75 months
Original Cost	$ 2,209,724		$ 2,209,724
Accumulated Amortization and Impairment	828,630	607,661	220,969	220,968
Net Book Value	$ 1,381,094	1,602,063	$ 1,381,094	1,602,063
Customer Relationships | Tri-State Paving
GOODWILL AND INTANGIBLE ASSETS
Remaining Life	91 months		91 months
Original Cost	$ 1,649,159		$ 1,649,159
Accumulated Amortization and Impairment	398,547	233,631	164,916	166,850
Net Book Value	$ 1,250,612	1,415,528	$ 1,250,612	1,415,528
Tradename | West Virginia Pipeline
GOODWILL AND INTANGIBLE ASSETS
Remaining Life	75 months		75 months
Original Cost	$ 263,584		$ 263,584
Accumulated Amortization and Impairment	98,863	72,500	26,363	26,364
Net Book Value	$ 164,721	191,084	$ 164,721	191,084
Tradename | Tri-State Paving
GOODWILL AND INTANGIBLE ASSETS
Remaining Life	91 months		91 months
Original Cost	$ 203,213		$ 203,213
Accumulated Amortization and Impairment	49,110	28,789	20,321	20,421
Net Book Value	154,103	174,424	154,103	174,424
Non-competes | West Virginia Pipeline
GOODWILL AND INTANGIBLE ASSETS
Original Cost	83,203		83,203
Accumulated Amortization and Impairment	83,203	83,203		10,397
Non-competes | Tri-State Paving
GOODWILL AND INTANGIBLE ASSETS
Original Cost	39,960		39,960
Accumulated Amortization and Impairment	39,960	39,960		23,370
Employment agreement/non-compete | Revolt Energy
GOODWILL AND INTANGIBLE ASSETS
Original Cost	100,000		$ 100,000
Accumulated Amortization and Impairment	$ 100,000	$ 100,000		$ 22,221
Heritage Painting Customer relationships | Revolt Energy
GOODWILL AND INTANGIBLE ASSETS
Remaining Life	57 months		57 months
Original Cost	$ 121,100		$ 121,100
Accumulated Amortization and Impairment	6,054		6,054
Net Book Value	$ 115,046		$ 115,046

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Amortization expenses (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
GOODWILL AND INTANGIBLE ASSETS
2024	$ 456,780
2025	456,780
2026	456,780
2027	456,780
2028	450,746
After	787,710
Total	$ 3,065,576	$ 3,383,099

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Nov. 20, 2024	Oct. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
SUBSEQUENT EVENTS
Dividends on common stock (in dollars per share)	$ 0.03		$ 0.06	$ 0.05
SUBSEQUENT EVENTS | Tribute Contracting And Consultants, LLC
SUBSEQUENT EVENTS
Purchase of equipment		$ 22
Energy Services Common stock		$ 2
SUBSEQUENT EVENTS | O 2025 Q1 Dividends
SUBSEQUENT EVENTS
Dividends of date declared	Nov. 20, 2024
Dividends of date will be Paid	Jan. 02, 2025
Dividends of Date Record	Dec. 13, 2024