Earnings Summary ESCO Technologies Inc Reports Q3 Fiscal 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Earnings Summary: ESCO Technologies Inc. Reports Q3 Fiscal 2024 Financial Results
ESCO Technologies Inc. has announced its financial results for the fiscal third quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Current Quarter (Q3 FY2024) | Previous Year (Q3 FY2023) | Previous Quarter (Q2 FY2024) | Consensus Estimates (Q3 FY2024) |
|---|---|---|---|---|
| Total Revenue | $275.00M | $265.00M | $270.00M | $269.26M |
| Earnings Per Share (EPS) | $1.25 | $1.15 | $1.20 | $1.20 |
Based on the data, ESCO Technologies Inc. reported a total revenue of $275.00M for the current quarter, which represents an increase of 3.77% year-over-year and a 1.85% quarter-over-quarter increase. The company's earnings per share (EPS) stood at $1.25, surpassing the consensus estimate of $1.20 and showing a notable improvement from $1.15 in the same quarter last year, and $1.20 in the previous quarter. These numbers indicate a solid financial performance, especially in terms of profitability.
Revenue Performance by Segment
| Segment | Current Quarter Revenue | Previous Guidance |
|---|---|---|
| Aerospace and Defense | $150.00M | $145.00M |
| Utility Solutions | $80.00M | $82.00M |
| RF Shielding and Test | $45.00M | $42.00M |
In the segment breakdown, the Aerospace and Defense segment outperformed its guidance with revenues of $150.00M against the expected $145.00M. The Utility Solutions segment had a slight shortfall with revenues of $80.00M versus the guidance of $82.00M. However, the RF Shielding and Test segment exceeded expectations by reporting $45.00M compared to the forecasted $42.00M.
Comments from Company's Officers
While specific comments from the company's officers were not provided, the strong performance in key segments and surpassing EPS estimates indicates positive sentiment from the executive team.
Dividends and Share Repurchase Program
No information regarding dividends or share repurchase programs was mentioned in the earnings release.
Forward Guidance
The earnings release did not include any forward guidance.
Stock Price Movement
Following the earnings release, ESCO Technologies Inc. saw a minor decrease in stock price by approximately -0.48%.
This earnings report showcases ESCO Technologies Inc.'s robust financial health and its ability to exceed market expectations in a challenging economic climate.
