ENSERVCO Corporation announced it expects Q2 revenue to increase approximately 24% year over year to approximately $8.8M versus $7.1M in the same quarter last year. For the six-month period, the company expects to report revenue of approximately $29.9M, up 43% over the year ago total of $20.9M. Net income and adjusted EBITDA for Q2 will be impacted by management transition costs and continued investments in operational and sales process improvements. Net income and adjusted EBITDA for the six-month period are expected to show considerable growth on a year-over-year basis. "Our revenue and profit metrics are trending up significantly for the year-to-date period and we are on track for our most successful year since our record campaign in 2014," said Ian Dickinson, president and CEO. "We continue to see strong demand from our growing customer base, supported by industry tailwinds in the form of increased activity and higher commodity prices. We are already lining up customer commitments for our fourth- and first-quarter heating season, when we generate much of our revenue and profit, and we are optimistic about a strong finish to 2018 and a good start to 2019."
ENSERVCO Corporation announced the appointment of Kevin Kersting to the new position of COO. He will report directly to Ian Dickinson, president and CEO. Kersting will be responsible for operations in all basins in which ENSERVCO provides services. His top priority will be to accelerate implementation of ENSERVCO's initiative to enhance the Company's operating structure and business processes in order to drive full fleet utilization. Prior to joining ENSERVCO, Kersting held several senior positions at CAP Logistics.