Welcome to our dedicated page for Espey Mfg & Elec news (Ticker: ESP), a resource for investors and traders seeking the latest updates and insights on Espey Mfg & Elec stock.
Espey Mfg & Elec Corp. (NYSE: ESP) delivers specialized power conversion solutions for defense and industrial markets through vertical manufacturing capabilities. This news hub provides investors and industry professionals with essential updates on corporate developments shaping this established provider of military-grade power systems.
Access authoritative coverage of ESP's financial announcements, product innovations, and strategic initiatives. Our curated collection features earnings reports, contract awards with defense partners, technology advancements in magnetics, and manufacturing capacity expansions - all critical for assessing the company's market position.
Key updates include quarterly financial disclosures, Department of Defense contract milestones, engineering certifications, and executive leadership changes. Bookmark this page for streamlined tracking of ESP's progress in power supply innovation and its role in critical infrastructure projects.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has secured an additional $19.8 million contract to manufacture electrical power transformers for the U.S. Navy's Virginia and Columbia class submarines. The contract, awarded by General Dynamics Electric Boat and the U.S. Navy, involves components previously designed and supplied by Espey for both submarine classes.
The Columbia class submarine program, a top priority for the Department of Defense, aims to replace the existing Ohio class ballistic missile submarines. The company's primary business focuses on developing specialized military and industrial power supplies/transformers.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has secured a $3.4 million funding award from the U.S. Navy for capital equipment and facility upgrades. This investment, part of the initiative to strengthen the domestic U.S. Surface Combatant Industrial Base, will enhance Espey's capabilities in designing, manufacturing, testing, and delivering electrical power products.
The new funding complements a previous $7.4 million award received in February 2023, which was allocated for constructing a new manufacturing facility and improving power infrastructure. The project will be executed at Espey's Saratoga Springs, NY facility, with completion anticipated in 2026.
Espey specializes in developing specialized military and industrial power supplies, power systems, and transformers.
Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP), a developer and manufacturer of specialized military and industrial power supplies/transformers, has announced its Board of Directors has declared a regular quarterly dividend of $0.25 per share. The dividend will be distributed on March 28, 2025 to shareholders of record as of March 21, 2025.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has announced key leadership changes in its financial team. Katrina Sparano, who served as Chief Financial Officer and Treasurer for 20 years, retired effective February 15, 2025. During her tenure, the company achieved record profitability and substantial growth.
Kaitlyn O'Neil has been appointed as the new Principal Financial Officer and Treasurer. O'Neil, a Certified Public Accountant with over 10 years of financial leadership experience, joined the company on January 6, 2025. Her previous roles include Finance Director at Octo Telematics North America and various finance positions at Precisely Holdings. She also worked as Senior Audit Associate at KPMG LLP.
Espey, primarily focused on developing specialized military and industrial power supplies/transformers, views these changes as strategic for continued business growth and success.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported strong Q2 FY2025 results with net sales of $13.6 million, up from $10.3 million in Q2 FY2024. Net income reached $1.9 million ($0.71 per diluted share) compared to $1.8 million ($0.72 per diluted share) last year.
First half FY2025 performance showed significant growth with net sales of $24 million, a 27% increase from $18.9 million in the same period FY2024. Net income rose to $3.5 million ($1.32 per diluted share) from $2.9 million ($1.16 per diluted share).
The company's backlog reached $120.1 million as of December 31, 2024, compared to $84.8 million year-over-year. New orders in H1 FY2025 totaled $46.9 million, more than double the $20.1 million in H1 FY2024. Current orders have reached $54 million, surpassing the previous annual record of $52 million.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has secured a significant $29.5 million contract to manufacture electric power distribution panels for the U.S. Navy's Columbia class submarines. Selected by General Dynamics Electric Boat and the U.S. Navy, Espey will produce previously designed components for the next-generation ballistic missile submarine fleet. The contract covers deliveries through 2030 for 4 of the 12 planned submarines, which will be the largest ever built by the United States and feature a first-of-its-kind electric drive propulsion system. These submarines are designed to replace the existing Ohio class fleet and represent a top priority for the U.S. Navy.
Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has announced a regular quarterly dividend of $0.25 per share, payable on December 27, 2024, to shareholders of record as of December 20, 2024.
The company also appointed Jennifer Pickering as Corporate Secretary, following her roles as Chief Human Resources Officer since April 2024 and Assistant Corporate Secretary since June 2024. She succeeds Peggy A. Murphy, who retired on December 6, 2024, after serving as Corporate Secretary since December 1998 and being with the company since October 1978.
Espey specializes in developing and manufacturing military and industrial power supplies/transformers.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported strong Q1 FY2025 results with net sales of $10.4 million, up from $8.6 million in Q1 FY2024. Net income increased to $1.6 million ($0.61 per diluted share) from $1.1 million ($0.44 per share) year-over-year. The company's backlog grew to $94.6 million from $87.1 million last year. However, new orders decreased to $7.8 million from $12.1 million in the same period. Management expressed confidence in future performance, citing improved operational efficiency and expectations for higher annual new orders.
Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has announced a significant increase in its regular quarterly dividend. The Board of Directors has declared a dividend of $0.25 per share, representing a 25% increase from the previous dividend. This enhanced dividend will be payable on September 27, 2024, to shareholders of record as of September 20, 2024.
Espey specializes in the development, design, and production of military and industrial power supplies/transformers. This dividend increase may signal strong financial performance and confidence in the company's future prospects, potentially attracting income-focused investors.
The Board of Directors of Espey announced a 14% increase in its regular quarterly dividend, now $0.20 per share, payable on June 24, 2024, to shareholders of record on June 17, 2024. Additionally, Espey secured a new employment agreement with its CEO, David O'Neil. The company also appointed Jennifer Pickering as the new Assistant Corporate Secretary, who joined as Chief HR Officer in April 2024. Espey specializes in developing military and industrial power supplies and transformers.
