ESCO Technologies Reports FY24 Results and FY25 Guidance

TL;DR

ESCO Tech FY24 sales hit $1.31B, FY25 guidance $1.30B-$1.38B. Looks steady.

AI Summary

ESCO Technologies Inc. announced its fiscal year 2024 fourth quarter and full-year results on November 7, 2024. The company reported net sales of $348.4 million for the fourth quarter and $1.31 billion for the full year. They also provided guidance for fiscal year 2025, expecting net sales between $1.30 billion and $1.38 billion.

Why It Matters

This filing provides investors with ESCO Technologies' latest financial performance and their outlook for the upcoming fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine earnings report with forward-looking guidance, typical for public companies.

Key Numbers

• $1.31B — Full Year Net Sales (FY24) (Represents the company's total revenue for the fiscal year 2024.)
• $348.4M — Fourth Quarter Net Sales (FY24) (Indicates the company's revenue performance in the most recent quarter.)
• $1.30B - $1.38B — Full Year Net Sales Guidance (FY25) (Provides the company's revenue expectations for the upcoming fiscal year.)

Key Players & Entities

• ESCO TECHNOLOGIES INC. (company) — Registrant
• $348.4 million (dollar_amount) — Fourth quarter net sales
• $1.31 billion (dollar_amount) — Full year net sales
• $1.30 billion (dollar_amount) — FY25 net sales guidance (low end)
• $1.38 billion (dollar_amount) — FY25 net sales guidance (high end)
• November 7, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share ESE New York Stock Exchan
• $810,000 — r Chief Executive Officer & President $810,000 6,226 $1,890,000 7,263 14,526 29,0
• $1,890,000 — e Officer & President $810,000 6,226 $1,890,000 7,263 14,526 29,052 Christopher L.
• $231,180 — President & Chief Financial Officer $231,180 1,777 $539,420 2,073 4,146 8,292
• $539,420 — ief Financial Officer $231,180 1,777 $539,420 2,073 4,146 8,292 David M. Schatz
• $127,830 — esident, General Counsel & Secretary $127,830 982 $298,270 1,146 2,292 4,584 I
• $298,270 — ral Counsel & Secretary $127,830 982 $298,270 1,146 2,292 4,584 Item 7.01 Regula

Filing Documents

• tm2428429d1_8k.htm (8-K) — 37KB
• tm2428429d1_ex99-1.htm (EX-99.1) — 200KB
• tm2428429d1_ex99-1img001.jpg (GRAPHIC) — 38KB
• 0001104659-24-118951.txt ( ) — 480KB
• ese-20241107.xsd (EX-101.SCH) — 3KB
• ese-20241107_lab.xml (EX-101.LAB) — 33KB
• ese-20241107_pre.xml (EX-101.PRE) — 22KB
• tm2428429d1_8k_htm.xml (XML) — 3KB

02 Results of Operations

Item 2.02 Results of Operations and Financial Condition Today, November 14, 2024, ESCO Technologies Inc. (the Registrant, or the "Company") is issuing a press release (furnished as Exhibit 99.1 to this report) announcing its financial and operating results for the fourth quarter and fiscal year ended September 30, 2024. See Item 7.01, Regulation FD Disclosure, below.

02 Departure of Directors

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Executive Officers – Long-Term Equity Incentive Awards On November 7, 2024, the Human Resources and Compensation Committee of the Company's Board of Directors approved the fiscal 2025 awards of time-based Restricted Share Units (RSUs) and Performance Share Units (PSUs) to the Company's three executive officers and the other participants in the Company's LTI program, effective November 7, 2024. Other than the share amounts, the terms of the fiscal 2025 RSUs (and future RSUs except to the extent hereafter amended by the HRCC) are substantially similar to those awarded for fiscal 2024, vesting over a period of approximately three years, in three equal portions approximately 12, 24 and 36 months after the grant date; for the fiscal 2025 awards, vesting will occur on the last NYSE trading days in November 2025, 2026 and 2027. The terms of the fiscal 2025 PSUs (and future PSUs except to the extent hereafter amended by the HRCC) are substantially similar to those awarded for fiscal 2024 other than the specific share amounts and performance goals. The fiscal 2025 PSUs will vest after a three-year performance period beginning October 1, 2024 and ending on September 30, 2027, on the last trading day of the month in which the HRCC approves and certifies the extent to which the applicable performance goals have been achieved. Upon vesting, the awards will be converted into a currently undeterminable number of shares of Company common stock, which may be less than or greater than the number of PSUs awarded, within certain specified threshold and maximum limits, depending on the degree to which the Company has achieved one or more specified performance goals. If the performance is less than the threshold goal for a particular performance measure, there will be no payout of that portion of the PSUs dependent on that measu

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure Today, November 14, 2024, the Company is issuing a press release (attached as Exhibit 99.1) announcing its financial and operating results for the fourth quarter and fiscal year ended September 30, 2024. The Company will conduct a related Webcast conference call today at 4:00 p.m. Central Time. The press release will be posted on the Company's web site located at http://www.escotechnologies.com . It can be viewed through the "Investor News" page of the web site under the "Investor Center" tab, although the Company reserves the right to discontinue that availability at any time.

01 Financial Statements

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 99.1 Press Release issued November 14, 2024 104 Cover Page Inline Interactive Data File Other Matters The information in this report furnished pursuant to Item 2.02 and Item 7.01, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 as amended ("Exchange Act") or otherwise subject to the liabilities of that section, unless the Company incorporates it by reference into a filing under the Securities Act of 1933 as amended or the Exchange Act. Any references to the Company's web site address included in this Form 8-K and the press release are intended only as inactive textual references and not as active links to its web site. Information contained on the Company's web site does not constitute part of this Form 8-K or the press release. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 14, 2024 ESCO TECHNOLOGIES INC. By: /s/David M. Schatz David M. Schatz Senior Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR