Welcome to our dedicated page for ESCO Technologies news (Ticker: ESE), a resource for investors and traders seeking the latest updates and insights on ESCO Technologies stock.
ESCO Technologies, Inc. (NYSE: ESE) is a global provider of engineered products and systems catering to industrial and commercial markets. Headquartered in St. Louis, Missouri, the company operates through three primary segments: Aerospace & Defense, Utility Solutions Group (USG), and RF Shielding and Test (Test).
The Aerospace & Defense segment specializes in designing and manufacturing filtration products such as hydraulic filter elements and fluid control devices used in commercial aerospace applications. It also produces filtration mechanisms for micro-propulsion devices in satellites and customized filters for manned aircraft and submarines. Additionally, this segment develops elastomeric-based signature reduction solutions for U.S. naval vessels and mission-critical components for aerospace and defense industries.
The Utility Solutions Group (USG) provides diagnostic testing solutions that allow electric power grid operators to evaluate the integrity of their systems. This segment addresses the increasing need to update and maintain the aging U.S. electric grid, while also supporting the transition to clean energy.
The RF Shielding and Test segment delivers comprehensive solutions for identifying, measuring, and containing magnetic, electromagnetic, and acoustic energy. It offers customers the ability to manage these energies effectively, ensuring both safety and compliance with industry standards.
In recent financial updates, ESCO Technologies reported strong performance, including a 14% increase in Q3 sales to $249 million and a 14% rise in adjusted EPS to $1.09. The company also repurchased shares and declared a quarterly dividend, reflecting its commitment to delivering value to shareholders.
Moreover, ESCO is involved in significant projects and acquisitions, such as the recent acquisition of MPE Limited, broadening its reach in the EMC/EMP filters market. With a robust pipeline of orders and a strong backlog, ESCO continues to exhibit growth potential across its diversified segments.
For more details, visit the ESCO Technologies website.
The Village of Oak Lawn, Illinois, is finalizing the implementation of Aclara's RF™ advanced metering infrastructure (AMI) and acoustic leak detection system. This project replaces the legacy AMR system and supports 17,000 meters, optimizing water distribution and improving meter reading accuracy. The initiative aims to reduce non-revenue water loss with 825 leak-detection loggers, marking the largest deployment of its kind in the Western Hemisphere. The data will be managed through the AclaraONE® platform, enhancing operational efficiency and providing daily consumption reports.
ESCO Technologies reported Q3 2021 GAAP EPS of $0.57 and Adjusted EPS of $0.67, with year-to-date GAAP EPS at $1.65, a decline from $1.87 in 2020. The company experienced $75 million in cash flow from operations and Q3 orders surpassed $200 million with a book-to-bill ratio of 1.12. Despite ongoing COVID-19 challenges, sales increased by 5% to $181 million in Q3. A new $200 million stock repurchase program and a dividend of $0.08 per share were announced. Guidance for Q4 suggests Adjusted EPS between $0.73 and $0.78.
ESCO Technologies Inc. (NYSE: ESE) announced the completion of its acquisition of I.S.A Altanova Group on July 29, 2021, and Phenix Technologies on August 9, 2021. These acquisitions will enhance ESCO’s Utility Solutions Group, positioning it for substantial growth in the power and utility markets globally. Phenix, with annual sales of approximately $25 million and strong operating margins, is recognized for its high voltage test systems. Together with Altanova, these companies provide ESCO a broader product portfolio and an expanded customer base, further driving international growth opportunities.
ESCO Technologies Inc. (NYSE:ESE) has announced a webcast for its Third Quarter 2021 Conference Call, scheduled for August 9, 2021 at 4 p.m. Central Time. The call will follow the release of its financial results at approximately 3:15 p.m. Central Time. Participants can access the call through the company's website, which also provides a replay option for those unable to attend. ESCO specializes in highly-engineered filtration and fluid control products across various industries, including aviation and defense.
Doble Engineering Company, a subsidiary of ESCO Technologies (NYSE: ESE), launched the F8000 platform, a modular power system simulator designed for advanced testing of protection relay, automation, and control technologies. This innovative platform accommodates both conventional and digital systems, enabling tailored functionality for utility companies. The F8000 features various configurations and compatibility with existing Doble software, enhancing flexibility and operational efficiency. The platform aims to help clients adapt to emerging technologies in power grid operations.
ESCO Technologies Inc. (NYSE: ESE) has announced its acquisition of I.S.A Altanova Group S.R.L., a leading European provider of condition assessment technologies for electrical equipment. This acquisition, valued at approximately $30 million, is anticipated to enhance ESCO's Utility Solutions Group by filling product gaps and expanding its global reach in power generation and distribution markets. The transaction is subject to Italian regulatory approval and is expected to close within 45 days.
ESCO Technologies reported a Q2 2021 GAAP EPS of $0.62, exceeding expectations, and an adjusted EPS of $0.59. Year-to-date adjusted EPS rose to $1.15, up 4% from $1.11 in 2020, despite a 6% sales decline due to COVID-19 impacts. The company's net sales were $167 million, down from $180 million in Q2 2020. Record cash flow from operations and improved gross margins at 38.1% were reported. The company anticipates ongoing challenges in commercial aerospace but remains positive about recovery trends and upcoming acquisition opportunities.
ESCO Technologies Inc. (NYSE:ESE) will host its Second Quarter 2021 Conference Call on May 4 at 4 p.m. Central Time. The call will follow the release of the financial results at approximately 3:15 p.m. Central Time. Interested participants are encouraged to access the company’s website at least 15 minutes before the call for registration. A replay will be available on the website or via phone. ESCO is a leader in manufacturing filtration and fluid control products for various sectors, including aviation, navy, and renewable energy.
Doble Engineering Company, a subsidiary of ESCO Technologies (NYSE: ESE), announced the launch of the Spark P3, a universal analyzer for partial discharge (PD) and electromagnetic interference (EMI). This device simplifies diagnostics across various high voltage equipment, enhancing reliability and user-friendliness.
Equipped with advanced tools for early fault detection, the Spark P3 supports users of all experience levels. Its automatic signal classification and dual operating modes cater to both novices and experts, making it suitable for utilities, laboratories, and industrial use.
Doble Engineering Company, a subsidiary of ESCO Technologies (NYSE: ESE), launched the Calisto™ H1, a new hydrogen detector for real-time monitoring of transformer health. This device enables power and utility teams to detect faults quickly, reducing the need for manual sampling and field personnel intervention. The Calisto H1 allows teams to monitor more transformers cost-effectively and integrates seamlessly within the Calisto™ Condition Monitoring platform. Doble emphasizes the importance of real-time data for maintaining grid reliability and enhancing asset performance management.
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