Esterline Technologies Corp (ESL) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Esterline Technologies Corp
Ticker: ESL CIK: 33619

Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE



Contact:		John Hobbs
		+1 425-453-9400

ESTERLINE REPORTS FISCAL 2017 THIRD QUARTER RESULTS

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Sales of $503.8 million in the third fiscal quarter; $1.47 billion year-to-date

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Third fiscal quarter earnings from continuing operations of $31.3 million; adjusted earnings from continuing operations of $32.5 million

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Third fiscal quarter GAAP earnings from continuing operations of $1.04 per diluted share; adjusted earnings per diluted share of $1.08

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Free cash flow of $96.7 million year-to-date

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Company updates full-year guidance

BELLEVUE, Wash., August 3, 2017 – Esterline Corporation (NYSE: ESL) (www.esterline.com), a leading specialty manufacturer serving the global aerospace and defense markets, today reported results for the third fiscal quarter ended June 30, 2017. The company reported consolidated revenue of $503.8 million during the quarter compared with $517.1 million in the year-ago period. Lower sales volume in the company’s Avionics & Controls segment primarily contributed to the lower year-over-year quarterly revenue result. The company reported year-to-date (YTD) fiscal 2017 revenues of $1.47 billion, slightly ahead of the prior-year result of $1.45 billion.

Earnings from continuing operations in the third fiscal quarter of 2017 were $31.3 million, or $1.04 per diluted share, compared with prior-year earnings from continuing operations of $38.0 million, or $1.28 per diluted share. Earnings from continuing operations in the third fiscal quarter of 2017 were affected by higher research, development and engineering (R&D) spending and a higher effective tax rate. U.S. GAAP earnings from continuing operations YTD in fiscal 2017 were $88.0 million, or $2.94 per diluted share, compared with $64.9 million, or $2.18 per diluted share, in the 2016 period.

Adjusted earnings from continuing operations for the third fiscal quarter of 2017 were $32.5 million, or $1.08 per diluted share (see Table 1 below). In the comparable period of the prior year, adjusted earnings from continuing operations were $40.9 million, or $1.38 per diluted share. Adjusted earnings from continuing operations YTD in fiscal 2017 were $93.0 million, or $3.11 per diluted share, compared with $86.6 million, or $2.91 per diluted share, in the prior year (see Table 2 below).

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The following information was filed by Esterline Technologies Corp (ESL) on Thursday, August 3, 2017 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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