ESCO Technologies Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
May 09, 2023 at 04:16 pm EDT
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ESCO Technologies Inc. reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported sales was USD 229.14 million compared to USD 204.93 million a year ago. Net income was USD 17.88 million compared to USD 16.58 million a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to USD 0.64 a year ago.
For the six months, sales was USD 434.64 million compared to USD 381.94 million a year ago. Net income was USD 32.61 million compared to USD 28.11 million a year ago. Diluted earnings per share from continuing operations was USD 1.26 compared to USD 1.08 a year ago.
ESCO Technologies Inc. provides highly engineered products and solutions to diverse and growing end-markets that include the aerospace, defense, space, healthcare, wireless, consumer electronics, electric utility and renewable energy industries. The Company has three segments: Aerospace & Defense (A&D), Utility Solutions Group (USG), and RF Test & Measurement (Test). A&D segment primarily designs and manufactures specialty filtration, fluid control and naval products, including hydraulic filter elements, fluid control devices and precision-tolerance machined components. USG is engaged in the development, manufacture and delivery of diagnostic testing and data management solutions that enable electric power grid operators to assess the integrity of high-voltage power delivery equipment. Test segment designs and manufactures products and systems to measure and control RF and acoustic energy for research and development, regulatory compliance, and medical and security applications.
ESCO TECHNOLOGIES INC. 
