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. reports news on a diversified engineered-products business serving utility, industrial, aerospace, Navy, renewable energy, and commercial markets. The company operates through Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement activities, with products that include filtration and fluid control components, advanced composites, signature and power management solutions, RF test and measurement systems, diagnostic instruments, software, and related services.
Recurring updates cover quarterly and annual operating results, entered orders, backlog, segment demand, dividend declarations, earnings calls, and portfolio actions. Company news also reflects completed changes to its business mix, including the integration of Signature Management & Power as ESCO Maritime Solutions and the divestiture of VACCO Industries.
ESCO Technologies reported robust Q1 2023 results with a 30% increase in GAAP EPS to $0.57 and Adjusted EPS also up 30% to $0.60. Sales climbed 16% to $205.5 million, driven by growth in commercial aerospace and renewables, which saw 30% and 45% growth respectively. Entered orders totaled $228.9 million, achieving a book-to-bill ratio of 1.11x, and a record backlog of $718 million. The company’s net debt was $80 million, with a leverage ratio of 0.72x. Guidance for 2023 now projects adjusted EPS between $3.50 and $3.60.
ESCO Technologies Inc. (NYSE:ESE) will release its first quarter financial results on February 8, 2023, after market close. A conference call will follow at 4:00 p.m. Central Time to discuss the results and provide commentary. Interested parties can access the webcast and a slide presentation on ESCO's investor website, with a replay available afterward. ESCO is recognized for its highly engineered products and solutions in sectors like aviation, Navy, and renewable energy, positioning itself as a leader in RF shielding and EMC test products.
ESCO Technologies Inc. (NYSE: ESE) announced that CEO Bryan Sayler will present at the CJS Securities 23rd Annual New Ideas for the New Year Conference on January 11, 2023. The presentation is set to showcase the company's operations, which include providing engineering products for various markets such as aviation, Navy, and renewable energy. A live audio webcast will be available on the investor website at 10:15 a.m. Eastern Time, with visuals to follow in the Investor Presentation section.
Doble Engineering Company has appointed Matthew Carrara as President, effective January 1, 2023. Carrara, an energy industry veteran with over 30 years of experience, succeeds Bryan Sayler, who will become CEO of parent company ESCO Technologies Inc. Carrara previously held key roles at Schneider Electric and brings expertise that could drive Doble's growth in power grid diagnostics, particularly in the evolving landscape of renewables and digitalization. His leadership aims to enhance value for Doble's global customers.
Doble Engineering Company has launched INSIDEVIEW® 6, a diagnostic software designed for power and utility organizations, enhancing management of insulating liquid data. The new version improves workflows, speed, and reporting, facilitating enterprise-level deployment and ROI acceleration. Key features include an optimized user interface, customizable health metrics, and integration with third-party asset management solutions like Maximo® and SAP®. This software evaluates over 130 laboratory tests, providing advanced diagnostics for better asset health management.
ESCO Technologies reported strong Q4 and FY 2022 results, with GAAP EPS at $1.19, a 53% increase year-over-year, and total FY sales rising 20% to $858 million. Q4 sales grew 25% to $256 million, driven by organic growth and acquisitions. Operating cash flow reached $135 million, and year-end backlog hit a record $695 million. The company anticipates FY 2023 sales growth of 6-8%, with Adjusted EPS projected to increase by 7.5-12%. A leadership transition is also underway as Bryan Sayler will assume the role of CEO in 2023.
Doble Engineering Company has launched its Calisto Cable Condition Monitoring solutions, designed for high and medium voltage cables. This innovative technology provides near real-time data on cable health, helping power and utility teams enhance safety and reliability while reducing operational costs. The system monitors key parameters such as partial discharge, temperature, and vibration. According to Jay Ganson, the Systems Solution Director, insulation breakdown is a primary cause of electrical failures, and these solutions aim to significantly minimize such risks.
ESCO Technologies Inc. (NYSE:ESE) will release its fourth quarter and full year financial results on November 17, 2022, after market close. A conference call will follow at 4:00 p.m. Central Time, where results and commentary will be discussed. The call's webcast and a presentation will be available on ESCO's investor website. The company, based in St. Louis, provides engineered products for various markets including aviation, Navy, and renewable energy. They lead in RF shielding and EMC testing products.
Doble Engineering Company has launched the Doble PowerBase™ Web Viewer, enhancing access to critical maintenance and engineering records for power and utility teams. This web-based platform allows field technicians and supervisors to view essential data from anywhere without additional licensing. Key features include synchronized data updates, a user-friendly interface, and the ability to manage lifecycle maintenance records. The enhancement is available to customers with active annual maintenance and support, with additional functionalities planned for future releases.
ESCO Technologies Inc. (NYSE:ESE) announced the retirement of Vic Richey as CEO and President, effective December 31, 2022. He will remain Executive Chairman. Bryan Sayler, currently President of the Utility Solutions Group, will take over as CEO and President on January 1, 2023. Richey, serving for 20 years, transformed ESCO into a leader in engineering products and solutions across diverse industries. Sayler's leadership since 2016 in the Utility Solutions Group has been marked by strategic growth, including renewables and successful acquisitions.