ESCO TECHNOLOGIES INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ESCO TECHNOLOGIES INC filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

ESCO TECHNOLOGIES INC (ESE) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. ESCO TECHNOLOGIES INC filed a 10-Q report for the period ending March 31, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on September 30. ESCO TECHNOLOGIES INC is incorporated in Missouri (MO). The company's SIC code is 3669 (Communications Equipment, NEC).

Why It Matters

For investors and stakeholders tracking ESCO TECHNOLOGIES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for ESCO TECHNOLOGIES INC. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — ESCO TECHNOLOGIES INC shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand ESCO TECHNOLOGIES INC's operational trends.

Key Numbers

• 20240331 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240510 — Filing Date (FILED AS OF DATE)
• 0930 — Fiscal Year End (FISCAL YEAR END)
• 3669 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• ESCO TECHNOLOGIES INC (company) — FILER
• 0000866706 (company) — CENTRAL INDEX KEY
• 3669 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• MO (company) — STATE OF INCORPORATION
• ST LOUIS (company) — CITY
• 3142137200 (company) — BUSINESS PHONE
• 19920703 (company) — DATE OF NAME CHANGE
• 20240331 (date) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

The company operates within the communications equipment sector, which is subject to technological advancements and market demand.

Regulatory Implications

As a publicly traded company, ESCO TECHNOLOGIES INC is subject to the reporting requirements of the Securities and Exchange Commission (SEC) under the 1934 Act.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine segment performance to identify growth drivers and areas of concern.
3. Review any disclosed risk factors or management discussion and analysis for forward-looking statements.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period; no prior filing data is available for comparison within this context.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share ESE New York Stock Exchan

Filing Documents

• ese-20240331x10q.htm (10-Q) — 1272KB
• ese-20240331xex10d1.htm (EX-10.1) — 26KB
• ese-20240331xex31d1.htm (EX-31.1) — 11KB
• ese-20240331xex31d2.htm (EX-31.2) — 11KB
• ese-20240331xex32.htm (EX-32) — 7KB
• 0001410578-24-000723.txt (&nbsp;) — 6468KB
• ese-20240331.xsd (EX-101.SCH) — 33KB
• ese-20240331_cal.xml (EX-101.CAL) — 53KB
• ese-20240331_def.xml (EX-101.DEF) — 117KB
• ese-20240331_lab.xml (EX-101.LAB) — 323KB
• ese-20240331_pre.xml (EX-101.PRE) — 218KB
• ese-20240331x10q_htm.xml (XML) — 1554KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ESCO TECHNOLOGIES INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 Net sales $ 249,129 229,136 Costs and expenses: Cost of sales 152,347 142,296 Selling, general and administrative expenses 55,097 53,877 Amortization of intangible assets 8,572 7,030 Interest expense, net 3,226 2,269 Other expenses, net 666 314 Total costs and expenses 219,908 205,786 Earnings before income taxes 29,221 23,350 Income tax expense 6,002 5,472 Net earnings $ 23,219 17,878 Earnings per share: Basic - Net earnings 0.90 0.69 Diluted - Net earnings $ 0.90 0.69 See accompanying notes to consolidated financial statements. 2 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollars in thousands, except per share amounts) Six Months Ended March 31, 2024 2023 Net sales $ 467,443 434,637 Costs and expenses: Cost of sales 286,498 268,679 Selling, general and administrative expenses 109,065 105,179 Amortization of intangible assets 16,440 13,891 Interest expense, net 5,893 3,927 Other expenses, net 872 712 Total costs and expenses 418,768 392,388 Earnings before income taxes 48,675 42,249 Income tax expense 10,287 9,644 Net earnings $ 38,388 32,605 Earnings per share: Basic — Net earnings $ 1.49 1.26 Diluted — Net earnings $ 1.49 1.26 See accompanying notes to consolidated financial statements. 3 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Dollars in thousands) Three Months Ended Six Months Ended March 31, March 31, 2024 2023 2024 2023 Net earnings $ 23,219 17,878 38,388 32,605 Other comprehensive income (loss), net of tax: Foreign currency transla

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View this 10-Q filing on SEC EDGAR