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ESCO Technologies Announces Fourth Quarter 2024 Earnings Release And Conference Call
GlobeNewswire News Room· 2024-10-23 20:15
St. Louis, Oct. 23, 2024 (GLOBE NEWSWIRE) -- ESCO Technologies Inc. (NYSE:ESE) will report its fourth quarter financial results after the market close on Thursday, November 14, 2024, followed by a conference call where the financial results and related commentary will be discussed. Event: Fourth Quarter 2024 Conference Call Date: Thursday, November 14 Time: 4:00 p.m. Central Time The conference call webcast and an accompanying slide presentation will be available in the Investor Center of ESCO's website. Th ...
ESE Entertainment Provides Corporate Update on Bombee Americas Acquisition
Prnewswire· 2024-10-23 13:00
Merger Anticipated to Improve Financial Performance and Expand ESE's Reach with Tier 1 Clients Across Gaming and Entertainment Sectors VANCOUVER, BC, Oct. 23, 2024 /PRNewswire/ - ESE Entertainment Inc. (TSXV: ESE) (OTCQBSS: ENTEF) ("ESE" or the "Company"), is pleased to provide a corporate update following its acquisition of Bombee Global Entertainment Ltd. ("Bombee Americas" or "Bombee"), the North American arm of the premier gaming production and entertainment company, Bombee Event Production AB ("Bombee ...
ESE Entertainment Completes Acquisition of Gaming Production Company, Bombee Americas
Prnewswire· 2024-10-22 13:00
Core Viewpoint - ESE Entertainment Inc. has acquired Bombee Global Entertainment Ltd., enhancing its presence in the North American gaming market and positioning itself for future growth and innovation in the industry [1][2]. Acquisition Details - The acquisition was executed through a share purchase agreement, where ESE acquired all outstanding shares of Bombee Americas for a total consideration of $1,500,000 in cash and 30,000,000 common shares valued at $0.10 each [2][3]. - The cash payment structure includes $750,000 at closing, $375,000 six months post-closing, and another $375,000 twelve months post-closing, subject to adjustments based on working capital [2]. Operational Continuity - The founders of Bombee Americas will continue to manage the business under ESE for three years, ensuring operational continuity and a smooth transition [3]. - The acquisition includes the assumption of Bombee Americas' liabilities, which are expected to have a negligible impact on ESE's overall operations [3]. Strategic Implications - This acquisition marks a significant milestone for ESE, referred to as a "2.0 version" of the company, aimed at delivering enhanced value to partners and improving the gaming experience for clients globally [2]. - ESE aims to leverage Bombee's expertise in live production and event management to expand its service offerings in the gaming sector [1][2].
ESE Entertainment Announces Appointment of New Director
Prnewswire· 2024-09-13 13:00
VANCOUVER, BC, Sept. 13, 2024 /PRNewswire/ - ESE Entertainment Inc. (TSXV: ESE) (OTCQB: ENTEF) ("ESE" or the "Company"), a gaming company that provides a range of services to leading video game developers and publishers, is pleased to announce the appointment of Ryan Maarschalk B.Sc, CPA, as a Director of the Company. About Mr. Maarschalk Mr. Ryan Maarschalk was previously a Director of ESE Entertainment, after its initial public listing and subsequent valuation growth. He brings over two decades of leaders ...
ESCO Technologies(ESE) - 2024 Q3 - Quarterly Report
2024-08-09 16:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 1-10596 ESCO TECHNOLOGIES INC. (Exact name of registrant as specified in its charter) MISSOURI 43-1554045 (State or other jurisdictio ...
ESCO Technologies(ESE) - 2024 Q3 - Earnings Call Transcript
2024-08-08 02:48
Financial Data and Key Metrics Changes - Order growth in Q3 2024 was substantial at 46%, resulting in a record backlog of nearly $890 million [12][4] - Sales increased by 5%, driven by 4% organic growth and a 1% contribution from the MPE acquisition [12] - Adjusted EBIT improved by 50 basis points, and adjusted EPS increased by over 6% [12] Business Segment Data and Key Metrics Changes - Aerospace & Defense segment saw order growth of 79%, with sales up nearly 11% [13] - Utility Solutions Group orders increased by 17%, with Doble delivering a 30% increase [14] - Test business orders increased by over 40%, although sales were down 5% on an organic basis [15] Market Data and Key Metrics Changes - The Utility Solutions Group experienced a modest sales growth, with orders for NRG decreasing by $4 million compared to last year's record [14] - The Test business showed sequential improvements in both sales and margins, with adjusted EBIT margins at 16.6% [11] Company Strategy and Development Direction - The company is reviewing strategic alternatives for its VACCO Space business, which has sales of approximately $55 million [9] - The addition of two new board members with deep utility industry backgrounds indicates a focus on expanding the Utility Solutions group [6][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects for the company, citing record backlogs and a strong outlook across all business platforms [18][4] - The company anticipates continued sequential growth in revenue and margins, particularly in the Test business [32] Other Important Information - The company completed regulatory filings for the Signature Management & Power acquisition, expecting to close the deal in Q1 of fiscal 2025 [18] - Adjusted EPS guidance for 2024 is set at $4.10 to $4.20, excluding potential profitability erosion from the VACCO space business [17] Q&A Session Summary Question: Navy orders and shipset content realization - Management indicated that recent Navy orders were primarily for spares, with larger orders anticipated in the future [20] Question: Revenue growth expectations for A&D segment - Management acknowledged the potential for double-digit revenue growth in the A&D segment, given the significant backlog [21] Question: Profitability of VACCO Space business - Management stated that the profitability of the VACCO Space business is below segment averages and is still under review [24] Question: Incremental improvements in the Test business - Management expects continued sequential growth in revenue and margins for the Test business, particularly in the U.S. market [32] Question: Factors affecting Utility Solutions Group performance - Management noted some softening in the renewable side compared to the previous year but highlighted strong growth in Doble's services and hardware [37]
ESCO Technologies(ESE) - 2024 Q3 - Earnings Call Presentation
2024-08-07 22:37
1 ESCO Technologies Third Quarter FY 2024 Earnings Call Bryan Sayler President & CEO Chris Tucker Sr. Vice President & CFO August 7, 2024 Forward Looking Statement Statements in this presentation regarding Management's intentions, expectations and guidance for fiscal 2024, including restructuring and cost reduction actions, sales, orders, revenues, margin, earnings, Adjusted EPS, and any other statements which are not strictly historical, are "forward-looking statements" within the meaning of the safe harbo ...
ESCO Technologies(ESE) - 2024 Q3 - Quarterly Results
2024-08-07 20:15
Exhibit 99.1 NEWS FROM For more information contact: Kate Lowrey - VP of Investor Relations (314) 213-7277 / klowrey@escotechnologies.com ESCO REPORTS THIRD QUARTER FISCAL 2024 RESULTS - Q3 Orders increase 46% to $312 million / Book-to-Bill of 1.20x – - Q3 Sales increase 5% to $261 million - - Q3 GAAP EPS increases 5% to $1.13 - - Q3 Adjusted EPS increases 6% to $1.16 - ST. LOUIS, August 7, 2024 – ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today reported its operating results for the third qu ...
ESCO Reports Third Quarter Fiscal 2024 Results
GlobeNewswire News Room· 2024-08-07 20:15
St. Louis, Aug. 07, 2024 (GLOBE NEWSWIRE) -- ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today reported its operating results for the third quarter ended June 30, 2024 (Q3 2024). Operating Highlights Q3 2024 Sales increased $12.1 million (5 percent) to $260.8 million compared to $248.7 million in Q3 2023. Q3 organic sales increased $8.7 million (4 percent) and the MPE acquisition contributed $3.4 million (1 percent) of revenue in the quarter. Q3 2024 GAAP EPS increased 5 percent to $1.13 per s ...
ESCO Technologies Announces Third Quarter 2024 Earnings Release And Conference Call
GlobeNewswire News Room· 2024-07-17 20:15
For those unable to participate, a webcast replay will be available after the call in the Investor Center of ESCO's website. ESCO is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products for the aviation, Navy, space, and process markets worldwide and composite-based products and solutions for Navy, defense, and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement pro ...