ESCO Technologies(US:ESE)2024-11-15 01:01Financial Performance - Q4 FY24 - Sales increased by 9.5% to $298.5 million, with organic growth contributing 8.5% and the MPE acquisition adding 1%[6,7] - Adjusted EBIT increased by 17.7% to $51.8 million, resulting in an adjusted EBIT margin of 17.4%, a 1.3 percentage point increase[6,7] - Adjusted EPS increased by 16.8% to $1.46, despite profit erosion on Space development programs at VACCO[6,7] - Entered orders decreased by 14.9% to $288.8 million, leading to a book-to-bill ratio of 0.97, but the ending backlog increased by $107 million (14%) from September 30, 2023[6,7] Segment Performance - Q4 FY24 - A&D sales increased by 16.2% to $124.3 million, with adjusted EBIT increasing by 26.7% to $24.2 million and a record ending backlog of +$116 million (+24%) from 9/30/23[9,10,11] - USG sales increased by 6.2% to $108.5 million, with adjusted EBIT increasing by 9.0% to $28.6 million[12,13] - Test sales increased by 3.6% to $65.8 million, with adjusted EBIT increasing by 8.1% to $12.0 million[17,20] Full Year FY24 Performance - Sales increased by 7.4% to $1,026.8 million[21,23] - Adjusted EBIT increased by 13.8% to $150.1 million, with an adjusted EBIT margin of 14.6%, an increase of 0.8 percentage points[21,23] - Adjusted EPS increased by 13.0% to $4.18[21,23] - Entered orders increased by 9.7% to $1,133.4 million, resulting in a book-to-bill ratio of 1.10 and an ending backlog increase of $107 million (14%)[21,22,23] FY25 Guidance - Sales are expected to increase by 6% to 8%, reaching a range of $1.09 billion to $1.11 billion[28,29] - Adjusted EBIT is expected to increase by approximately 12% to 15%, with margins increasing to 15.3% - 15.7%[28] - Adjusted EPS is expected to be in the range of $4.70 to $4.90 per share, representing a growth of 12% to 17%[28,30]