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Esco Technologies Inc (ESE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

Esco Technologies Inc

CIK: 866706 Ticker: ESE

Exhibit 99.1

 

 

NEWS FROM  

 

For more information contact:

Kate Lowrey

Vice President of Investor Relations

ESCO Technologies Inc.

(314) 213-7277

 

ESCO REPORTS SECOND QUARTER FISCAL 2022 RESULTS

- Q2 GAAP EPS $0.64 and Adjusted EPS $0.65 -

- Q2 Sales increase 23.5% to $205 Million -

- $236 Million in Q2 Orders / Book-to-bill of 1.15x -

 

ST. LOUIS, May 9, 2022 – ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today reported its operating results for the second quarter ended March 31, 2022 (Q2 2022) compared to the second quarter ended March 31, 2021 (Q2 2021).

 

Operating Highlights

·Q2 2022 GAAP EPS was $0.64 per share compared to $0.59 in Q2 2021. Q2 2022 Adjusted EPS increased $0.09 per share (16 percent) to $0.65 per share compared to $0.56 per share in Q2 2021.
·Q2 2022 Sales of $204.9 million increased $39.0 million (23.5 percent) compared to Q2 2021. Organic sales increased $27.3 million (16.5 percent) and recent acquisitions contributed $11.7 million (7.0 percent) of revenue in the quarter.
·Q2 2022 Entered Orders increased $60.2 million (34 percent) over the prior year period to $236.5 million (book-to-bill of 1.15x), resulting in record ending backlog of $671 million.
·

Net cash provided by operating activities was $23 million YTD 2022. Operating cash flow was negatively impacted by higher inventories to support record backlogs, supply chain challenges that reduced manufacturing output, and the timing of milestone payments.

·Net debt (total borrowings less cash on hand) was $142 million, resulting in a 1.27x leverage ratio and $546 million in liquidity at March 31, 2022.

 


The following information was filed by Esco Technologies Inc (ESE) on Monday, May 9, 2022 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Acquisition
Acquisition (Details)
Adjusted Quarterly Financial Information
Adjusted Quarterly Financial Information (Details)
Adjusted Quarterly Financial Information (Tables)
Adjusted Quarterly Financial Information - Additional Information (Details)
Basis Of Presentation
Business Segment Information
Business Segment Information (Details)
Business Segment Information (Tables)
Debt
Debt (Details)
Debt (Tables)
Debt - Additional Information (Details)
Earnings Per Share (Eps)
Earnings Per Share (Eps) (Details)
Earnings Per Share (Eps) (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Changes In Carrying Amount Of Goodwill (Details)
Income Tax Expense
Income Tax Expense (Details)
Inventories
Inventories (Details)
Inventories (Tables)
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)
Revenues
Revenues (Tables)
Revenues - Disaggregation Of Revenues (Details)
Revenues - Remaining Performance Obligations (Details)
Share-Based Compensation
Share-Based Compensation (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Shareholders' Equity (Tables)
Ticker: ESE
CIK: 866706
Form Type: 10-Q Quarterly Report
Accession Number: 0001410578-22-001243
Submitted to the SEC: Tue May 10 2022 2:40:18 PM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Communications Equipment

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