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Esco Technologies Inc (ESE) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, September 30, 2021

SEC Filings

Esco Technologies Inc

CIK: 866706 Ticker: ESE

Exhibit 99.1

  

NEWS FROM

 

 

For more information contact:

Kate Lowrey

Director, Investor Relations

ESCO Technologies Inc.

(314) 213-7277

 

ESCO ANNOUNCES FOURTH QUARTER AND FISCAL 2021 RESULTS

 

- Q4 GAAP EPS $0.78 and Adjusted EPS $0.85 -

- $259 Million in Q4 Orders - Book-to-bill of 1.26x -

-Record Cash Flow from Operations of $123 million in FY 2021 –

 

ST. LOUIS, November 18, 2021 – ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today reported its operating results for the fourth quarter (Q4 2021) and fiscal year (2021) ended September 30, 2021.

 

Vic Richey, Chairman and Chief Executive Officer, commented, “Our committed team worked diligently throughout 2021 to manage through the continuing economic impacts associated with COVID-19. 2021 presented challenges related to global supply chain management, labor shortages, and a delayed return to normal travel patterns. Despite these challenges, our focus on cost structure optimization, cash flow management, and program execution enabled us to deliver solid results across each of our three business segments. The quarter was highlighted by revenue growth in USG and Test, strong cash flow generation, a double-digit increase in entered orders, and record ending backlog.

 

“Our strong balance sheet and substantial liquidity enabled us to fund capital investments, new product development, and acquisitions during 2021. We continued to expand our product portfolio through the launch of a number of new products and two new acquisitions, the Altanova Group (Altanova) and the assets of Phenix Technologies (Phenix), which broaden our product offerings and geographic footprint.”

 

Earnings Summary

 

Q4 2021 GAAP EPS was $0.78 per share (GAAP net earnings of $20.4 million) and included the net earnings impact of the Q4 2021 Discrete Items described below. Excluding the net earnings impact of the Discrete Items, Q4 2021 Adjusted EPS was $0.85 per share.

 

2021 GAAP EPS was $2.42 per share (GAAP net earnings of $63.5 million) and included the net earnings impact of the 2021 Discrete Items described below. Excluding the net earnings impact of the Discrete Items, 2021 Adjusted EPS was $2.59 per share.

 


The following information was filed by Esco Technologies Inc (ESE) on Thursday, November 18, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Esco Technologies Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Acquisitions
Acquisitions (Details)
Business Segment Information
Business Segment Information (Details)
Business Segment Information (Tables)
Business Segment Information - Additional Information (Details)
Business Segment Information - Schedule Of Capital Expenditures (Details)
Business Segment Information - Schedule Of Depreciation And Amortization (Details)
Business Segment Information - Schedule Of Geographic Information Long-Lived Assets (Details)
Business Segment Information - Schedule Of Geographic Information Net Sales (Details)
Business Segment Information - Schedule Of Identifiable Assets (Details)
Capital Stock
Capital Stock (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Details)
Debt (Tables)
Debt - Additional Information (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Details)
Goodwill And Other Intangible Assets - Changes In Carrying Amount Of Goodwill (Details)
Income Tax Expense
Income Tax Expense (Principal Components Of Income Tax Expense (Benefit) From Continuing Operations) (Details)
Income Tax Expense (Schedule Of Actual Income Tax Expense (Benefit) From Continuing Operations) (Details)
Income Tax Expense (Tables)
Income Tax Expense (Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Liabilities) (Details)
Income Tax Expense - Additional Information (Details)
Income Tax Expense - Components Of Income From Continuing Operations Before Income Taxes (Details)
Income Tax Expense - Total Income Tax Expense (Benefit) (Details)
Inventories, Net
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Leases
Leases (Tables)
Leases - Additional Information Related To Leases (Details)
Leases - Components Of Lease Costs (Details)
Leases - Reconciliation Of Future Undiscounted Cash Flows To The Operating And Finance Lease Liabilities, And The Related Rou Assets (Details)
Retirement And Other Benefit Plans
Retirement And Other Benefit Plans (Details)
Revenues
Revenues (Tables)
Revenues - Disaggregation Of Revenues (Details)
Revenues - Remaining Performance Obligations (Details)
Share-Based Compensation
Share-Based Compensation (Details)
Share-Based Compensation (Tables)
Share-Based Compensation - Schedule Of Outstanding Restricted Share Awards (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Number Of Shares Used In Calculation Of Earnings Per Share) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Asc 606 Adoption (Details)
Technical Packaging Divestiture
Technical Packaging Divestiture (Details)
Ticker: ESE
CIK: 866706
Form Type: 10-K Annual Report
Accession Number: 0001410578-21-000447
Submitted to the SEC: Mon Nov 29 2021 4:53:54 PM EST
Accepted by the SEC: Mon Nov 29 2021
Period: Thursday, September 30, 2021
Industry: Communications Equipment

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