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Jun 30, 2024
ESCO Technologies Q3 2024 Earnings Report
ESCO Technologies' Q3 2024 results were released, featuring a 46% increase in orders and a 5% increase in sales.
Key Takeaways
ESCO Technologies reported a solid Q3 2024, with orders increasing by 46% to $312 million and sales increasing by 5% to $261 million. GAAP EPS increased by 5% to $1.13, and Adjusted EPS increased by 6% to $1.16.
Orders increased 46% to $312 million, resulting in a book-to-bill ratio of 1.20x.
Sales increased 5% to $261 million.
GAAP EPS increased 5% to $1.13.
Adjusted EPS increased 6% to $1.16.
Revenue by Segment
Forward Guidance
Management expects Q4 Adjusted EPS in the range of $1.38 to $1.48 (10 to 18 percent growth), leading to full year guidance in the range of $4.10 to $4.20 (11 to 14 percent growth). Full year sales are expected to be in the range of $1.02 to $1.03 billion (7 to 8 percent annual growth).
Positive Outlook
- Q4 Adjusted EPS is expected to grow by 10-18%.
- Full year Adjusted EPS is expected to grow by 11-14%.
- Full year sales are expected to grow by 7-8%.
- ESCO anticipates its third consecutive year of double-digit earnings growth.
- Acquisition of Signature Management & Power (SM&P) business of Ultra Maritime is expected to close in Q1 fiscal 2025.
Challenges Ahead
- VACCO Space programs could experience further profitability erosion of $5 to $7 million ($0.15 - $0.21) in Q4 2024.
- The Company is undertaking a process to review strategic alternatives for the Space business at VACCO, which could include a sale of the business.
- The timing and outcome of the strategic alternatives review for the Space business at VACCO are uncertain.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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