ESCO Technologies Reports Strong FY 2024 Results

Esco Technologies ( (ESE) ) has released its Q4 earnings. Here is a breakdown of the information Esco Technologies presented to its investors.

ESCO Technologies Inc., headquartered in St. Louis, Missouri, is a global provider of highly engineered products and solutions, serving diverse markets such as aviation, Navy, space, and industrial sectors with a focus on filtration, fluid control, and RF test and measurement products.

In its latest earnings report, ESCO Technologies Inc. announced a robust performance for the fourth quarter and fiscal year 2024, with significant increases in sales and earnings per share. The company achieved a milestone by surpassing the $1 billion mark in sales and orders.

Key financial highlights include a 9.5% increase in Q4 sales to $299 million and a 7.4% increase for the fiscal year to $1.03 billion. The adjusted earnings per share rose by 16.8% in the fourth quarter and 13.0% for the year. Despite a decrease in Q4 entered orders, the fiscal year saw a 9.7% increase in entered orders, resulting in a record year-end backlog of $879 million. Notable growth was observed in the Aerospace & Defense segment, driven by Navy and aerospace programs, while the Utility Solutions Group also showed solid performance.

The report highlights ESCO’s strategic acquisition of the SM&P business, expected to close in the second fiscal quarter of 2025, which will enhance the company’s Navy business. Managing Director Bryan Sayler expressed optimism for continued growth in 2025 across core markets, including aerospace, Navy, and electric power sectors, with projected sales and earnings growth between 6-8% and 12-17% respectively.

Looking forward, ESCO Technologies remains focused on leveraging growth drivers across its markets, anticipating growth in sales, EBIT, and EBITDA in 2025. The company is also undergoing a strategic review of its Space business at VACCO, aiming to optimize its portfolio and create shareholder value.