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Jun 30, 2023
ESCO Technologies Q3 2023 Earnings Report
ESCO Technologies reported a strong third quarter with sales increasing and adjusted EBIT margin improving.
Key Takeaways
ESCO Technologies reported a strong Q3 2023 with a 14% increase in sales to $249 million. GAAP EPS was $1.08 and adjusted EPS was $1.09. The company is raising its full year earnings guidance based on year-to-date results and expectations for the fourth quarter.
Sales increased 14 percent driven by aerospace, utility, and renewables end-markets.
A&D and USG both delivered double digit revenue growth.
Adjusted EBIT and Adjusted EPS both increased over 20 percent compared to the prior year.
Adjusted EBIT margin improved by 130 basis points.
ESCO Technologies
ESCO Technologies
ESCO Technologies Revenue by Segment
Revenue by Segment
RF Test & Measurement Revenue
CapyFin.com Forward Guidance
The company expects Q4 Adjusted EPS in the range of $1.17 to $1.23, resulting in Adjusted 2023 EPS in the range of $3.62 to $3.68 (13 to 15 percent growth). Sales are expected in a range of $940 to $950 million (10 to 11 percent annual growth).