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Dec 31, 2021
ESCO Technologies Q1 2022 Earnings Report
Reported solid sales growth and strong entered orders.
Key Takeaways
ESCO Technologies reported an 8.8% increase in sales compared to Q1 2021, driven by recent acquisitions and solid organic growth in aerospace, renewables, and Test end-markets. Entered orders were up 42% to $224 million. Labor and supply chain constraints impacted sales by an estimated $5 to $8 million.
Q1 GAAP EPS was $0.44 per share and Adjusted EPS was $0.46 per share.
Q1 orders totaled $224 million, resulting in a book-to-bill ratio of 1.27x.
Q1 sales reached $177 million, an 8.8% increase over Q1 2021.
The company repurchased approximately 116,000 shares for $10 million during Q1 2022.
ESCO Technologies
ESCO Technologies
Forward Guidance
Management expects 2022 adjusted earnings per share in the range of $3.10 to $3.20, predicated on sales in the range of $815 to $835 million (an increase of 14 to 17 percent).
Challenges Ahead
- Q1 2022 revenue was negatively impacted by labor and material availability issues.
- Expect modest EPS growth in Q2.
- Working to increase capacity in certain parts of the business and to manage supply chain challenges.