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. & Electronics Corp. (NYSE American: ESP) regularly publishes news that reflects its role in specialized military and industrial power electronics. Company releases emphasize its primary business in the development, design, and production of power supplies, power systems, and transformers, as well as its participation in U.S. defense and industrial programs.
News items for ESP commonly include financial results, such as quarterly and annual net sales, net income, backlog levels, and new order volumes, as reported in its earnings announcements. These updates give readers insight into trends in Espey’s sales, order activity, and program execution over time.
Espey’s news flow also highlights contract awards and funding related to defense initiatives. The company has reported additional contracts to provide electrical power transformers for the U.S. Navy’s Virginia and Columbia class submarine programs and funding awards tied to the U.S. Navy’s Surface Combatant Industrial Base initiative. Releases describe how these awards support capital equipment purchases, facility upgrades, and expanded manufacturing and testing capabilities.
Another recurring theme in Espey’s news is facility and capability expansion, including the completion and ramp-up of its Magnetics Center of Excellence, which supports advanced magnetics systems development and MIL-STD testing. The company also issues announcements about dividend declarations, detailing regular quarterly dividends and, in some cases, special cash dividends approved by its Board of Directors.
Investors and followers of ESP stock can use this news page to review historical and recent announcements on earnings, contracts, facility investments, dividends, and governance-related developments. Checking this feed provides a consolidated view of the company’s disclosed business activity and financial reporting over time.
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.
Espey Mfg. & Electronics Corp. (NYSE American: ESP) reported their third-quarter results for fiscal year 2024. Net sales for Q3 2024 were $8.25 million, down from $9.81 million in Q3 2023. However, net income rose to $1.03 million, or $0.40 per diluted share, compared to $0.87 million, or $0.35 per diluted share, in the same period last year. For the first nine months of fiscal year 2024, net sales were $27.1 million, almost flat compared to $27.2 million in the same period of fiscal year 2023. Net income for this period increased to $3.92 million, or $1.56 per diluted share, from $2.78 million, or $1.13 per diluted share, last year. The backlog grew to $84.2 million, up from $82.1 million, despite new orders decreasing to $27.8 million from $32.6 million. CEO David O'Neil noted soft Q3 sales but highlighted improvements in gross profit and investment income, along with strong new sales orders and backlog. The company specializes in military and industrial power supplies/transformers.
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