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Mar 31, 2024
ESCO Technologies Q2 2024 Earnings Report
ESCO Technologies' Q2 2024 results were released, showing revenue and adjusted EPS growth.
Key Takeaways
ESCO Technologies reported a solid second quarter with a 9% increase in revenue to $249 million and a 24% increase in adjusted EPS to $0.94 compared to the prior year quarter. The company maintains its full year adjusted EPS guidance in the range of $4.15 to $4.30, representing 12 to 16 percent growth.
Revenue increased by 9% to $249 million.
GAAP EPS increased by 30% to $0.90.
Adjusted EPS increased by 24% to $0.94.
The company repurchased approximately 72,000 shares for $7.2 million during the quarter.
ESCO Technologies
ESCO Technologies
ESCO Technologies Revenue by Segment
Revenue by Segment
Aerospace & Defense Revenue
CapyFin.comUtility Solutions Group Revenue
CapyFin.comRF Test & Measurement Revenue
CapyFin.com Forward Guidance
The company maintains its full year adjusted EPS guidance in the range of $4.15 to $4.30 (12 to 16 percent growth). This outlook is based on sales in line with our initial guidance range of $1.02 to $1.04 billion (7 to 9 percent annual growth). Management’s expectation is for Q3 Adjusted EPS in the range of $1.16 to $1.22.
Positive Outlook
- Full year adjusted earnings per share guidance is being maintained in the range of $4.15 to $4.30 (12 to 16 percent growth).
- Represents ESCO’s third year in a row of double-digit earnings growth.
- Sales in line with initial guidance range of $1.02 to $1.04 billion (7 to 9 percent annual growth).
- Management’s expectation is for Q3 Adjusted EPS in the range of $1.16 to $1.22.
- Favorable dynamics in key aerospace, Navy and utility end markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income