Esco Technologies Inc. · NYSE:ESE
Esco Technologies — Q1 2023 Earnings Presentation
10 slides from Esco Technologies's earnings presentation, Feb 8, 2023
Slide 1: ESCO Technologies First Quarter FY 2023 Earnings Call
ESCO Technologies First Quarter FY 2023 Earnings Call Bryan Sayler President & CEO Chris Tucker Sr. Vice President & CFO February 8, 2023 1
Slide 2: Forward Looking Statement
Forward Looking Statement Statements in this presentation and made during today’s conference call regarding Management’s expectations for fiscal 2023, the effects of continuing inflationary pressures, higher interest rates, pressures related to supply chain performance and labor shortages, our guida
Slide 3: Q1 Results
Q1 Results ($ in Millions, except per share amounts) Entered Orders Sales Adjusted EBIT Adjusted EPS 228.9 205.5 21.5 $0.60 224.4 177.0 16.4 10.5% $0.46 9.3% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Entered Orders Q1’22 Q1’23 Delta $ Delta % • Orders up 2% with strength for A&D and USG offset
Slide 4: A&D
A&D ($ in Millions) Entered Orders Sales Adjusted EBIT 83.0 12.7 97.3 90.2 70.2 10.2 15.3% 14.4% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Entered Orders Q1’22 Q1’23 Delta $ Delta % • Navy - Columbia/ VA Class Funding & Spares Orders • Aerospace – Crissair & Mayday orders higher, PTI lower due to timing o
Slide 5: USG
USG ($ in Millions) Entered Orders Sales Adjusted EBIT 80.2 71.0 16.1 63.5 13.8 66.2 22.7% 21.8% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Entered Orders • Utility +10.1M (+18%) – strong end of calendar year utility spending Q1’22 Q1’23 Delta $ Delta % • Strong quarter for Doble protection testing (hardwa
Slide 6: Test
Test ($ in Millions) Entered Orders Sales EBIT 67.9 51.5 5.4 43.3 51.5 4.0 10.5% 9.2% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Entered Orders • Q1’22 had was a strong orders quarter Q1’22 Q1’23 Delta $ Delta % • Power Filters ($7M) • Test & Measurement projects in the U.S. & China ($14M) Entered Orders $
Slide 7: Q1 Cash Flow & Capital Expenditures
Q1 Cash Flow & Capital Expenditures ($ in Millions) Operating Cash Flow Capital Spending 1.9 14.1 4.8 -9.0 Q1'22 Q1'23 Q1'22 Q1'23 Operating Cash Flow YTD YTD • Higher inventory related to increased backlog and management of supply chain issues to support expected delivery schedules Cash Flow Q1’22
Slide 8: FY'23 Guidance
FY’23 Guidance Adjusted EPS • Q2 - Expectation is for Q2 Adjusted EPS in the range of $0.68 to $0.74 per share, representing growth of 5% – 14% over the prior year • Full Year – Consistent with our November guidance, but narrows Adjusted EPS to be in the range of $3.50 to $3.60 per share Expected Q2
Slide 9: ESCO Technologies Q&A
ESCO Technologies First Quarter FY 2023 Earnings Call Q&A 9
Slide 10: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 10