Espey Mfg. & Electronics Corp. reports third quarter results
Rhea-AI Summary
Espey (NYSE American: ESP) reported third quarter fiscal 2026 net sales of $11.4 million, up from $10.3 million, and net income of $2.9 million ($0.99 diluted EPS) versus $1.7 million ($0.63) a year earlier.
For the first nine months, sales were $32.7 million versus $34.4 million, while net income rose to $7.8 million ($2.74 EPS) from $5.2 million ($1.95). Backlog was about $137.1 million, with new orders of $30.0 million compared to $75.1 million in the prior-year period.
AI-generated analysis. Not financial advice.
Positive
- Q3 2026 net sales increased to $11.4 million from $10.3 million
- Q3 2026 net income rose to $2.9 million from $1.7 million
- Q3 diluted EPS improved to $0.99 from $0.63 year over year
- Nine‑month 2026 net income increased to $7.8 million from $5.2 million
- Nine‑month diluted EPS grew to $2.74 from $1.95
- Order backlog remained high at approximately $137.1 million
Negative
- Nine‑month 2026 sales declined to $32.7 million from $34.4 million
- New orders for first nine months fell to $30.0 million from $75.1 million
Key Figures
Market Reality Check
Peers on Argus
ESP was down 0.42% pre‑news while several peers (e.g., NEOV, RFIL, TGEN) showed notable gains, indicating stock‑specific dynamics rather than a unified sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 10 | Q2 2026 earnings | Positive | -8.7% | Sales dipped but net income and margins improved on richer product mix. |
| Nov 12 | Q1 2026 earnings | Positive | +0.9% | Higher net income and backlog despite lower year‑over‑year sales. |
| Sep 16 | FY2025 results | Positive | -12.4% | Strong FY2025 sales, earnings and backlog growth with record new orders. |
| May 12 | Q3 2025 earnings | Positive | +9.8% | Q3 and nine‑month sales and earnings grew with backlog and large orders. |
| Feb 12 | Q2 2025 earnings | Positive | +0.3% | Q2 and first‑half FY2025 delivered higher sales, income, and backlog. |
Earnings releases often showed stronger profitability and backlog, but the average 24h move of -2.03% suggests the stock has sometimes traded cautiously or sold off on otherwise solid results.
Recent earnings for Espey have highlighted rising profitability and a robust funded backlog, even when sales softened. Events on Feb 10, 2026 and Nov 12, 2025 showed improved margins and higher net income, while the Sep 16, 2025 and May 12, 2025 reports emphasized strong annual and Q3 FY2025 growth with expanding backlog. This Q3 FY2026 update continues the theme of higher earnings, providing another data point in the company’s margin-focused trajectory.
Historical Comparison
Espey’s last 5 earnings releases saw an average -2.03% next‑day move despite generally strong profitability and backlog trends, framing this Q3 update within a cautious trading history.
Earnings releases from early 2025 through early 2026 trace a move from strong FY2025 growth to FY2026 quarters with softer sales but rising margins, net income, and a sustained high backlog.
Market Pulse Summary
This announcement reports Q3 FY2026 net sales of $11.42M and net income of $2.86M, with nine‑month diluted EPS rising to $2.74 despite slightly lower year‑to‑date sales. Backlog remained high at about $137.1M, but new orders of $30.0M trailed the prior year’s $75.1M. Historically, earnings releases have produced mixed market reactions even on strong fundamentals, so investors may focus on order trends, margin sustainability, and future backlog updates when assessing this report.
Key Terms
forward-looking statements regulatory
safe harbor provisions regulatory
AI-generated analysis. Not financial advice.
SARATOGA SPRINGS, N.Y., May 12, 2026 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces results for the first nine months of fiscal year 2026.
Net sales for the third quarter ending March 31, 2026, were
For the first nine months ending March 31, 2026 sales were
The backlog for the Company was approximately
Mr. David O’Neil, President and CEO, commented,
With a strong quarter behind us, we continue accelerating into the remainder of the year with the confidence that we will deliver excellent full-year results. Most importantly, we continue strengthening margins through a combination of increased revenue, favorable product mix, improved operating leverage, and a disciplined focus on cost efficiencies. These results demonstrate the strength of our business model and our ability to convert top-line growth into improved profitability. The combination of strong revenue performance and margin expansion highlights the progress we’ve made in optimizing the quality and consistency of our earnings. Each quarter, I am impressed by and grateful to our employees for their ongoing commitment and energy. This performance would not be possible without them.
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the internet at www.espey.com.
For further information, contact Ms. Kaitlyn O’Neil at invest@espey.com.
This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
