Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of energy service provider PowerSecure International (NASDAQ: POWR) jumped as much as 18% in early trading after reporting earnings.

So what: Revenues jumped 85% from a year ago to $70.2 million and net income rose from $1.6 million to $2.1 million, or $0.11 per share. On a non-GAAP basis, which analysts compare to, the company earned $0.12 per share, $0.02 above estimates.  

Now what: The company hit an all-time high in backlog as well, which bodes well for future revenue and earnings. The stock is trading at a lofty 34 times this year's estimates, but two of the last three quarters it has beaten estimates, and with strong growth that's not a terrible value. I'd like to see a pullback before jumping in and more evidence of expanding margins after recent acquisitions.

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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.