ESCO Technologies(ESE) - 2023 Q4 - Earnings Call Transcript

The last chart on 2023 is number 10 where we have the cash flow highlights. The operating cash flow dropped to approximately $77 million in 2023. Cash flow continued to be a challenge throughout the year. The biggest challenges were with the A&D business, where we continued to see elevated levels of past due backlog. This tied up more cash and working capital, and was the key driver of the cash decline in 2023. You can also see we had unfavorable cash impacts from increased tax and interest payments during ...