Esco Technologies (ESE) Q4 FY2023 earnings: revenue $273 million, up 6.3% on the year

Esco Technologies Inc. (ESE) reported revenue of $273 million for Q4 FY2023, the quarter ended 30 September 2023, up 6.3% on the same quarter a year earlier. Net income was $32 million, up 3.1% on the year, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2023.

Revenue$273 millionup 6.3%

Net income$32 millionup 3.1%

Diluted EPS$1.24

QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	273	n/a	n/a	n/a
Cost of revenue	164	n/a	n/a	n/a
Gross profit	108	n/a	n/a	n/a
Gross margin	39.7%	n/a	n/a
Selling, general and administrative	56.6	n/a	n/a	n/a
Operating income	41.2	n/a	n/a	n/a
Operating margin	15.1%	n/a	n/a
Interest expense	2.4	n/a	n/a	n/a
Pre-tax income	41.2	n/a	n/a	n/a
Income tax	9.2	n/a	n/a	n/a
Effective tax rate	22.3%	n/a	n/a
Net income	32.0	n/a	n/a	n/a
Net margin	11.7%	n/a	n/a
Diluted EPS	$1.24	n/a	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	47.7	n/a	n/a	n/a
Capital expenditure	5.4	n/a	n/a	n/a
Free cash flow	42.3	n/a	n/a	n/a
Free cash flow margin	15.5%	n/a	n/a
Cash from investing	-8.5	n/a	n/a	n/a
Cash from financing	-52.2	n/a	n/a	n/a
Depreciation and amortisation	12.8	n/a	n/a	n/a
Share-based compensation	1.9	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	2.1	n/a	n/a	n/a
Diluted shares, weighted	26m	n/a	n/a	n/a
Shares outstanding at period end	26m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,131	n/a	n/a	n/a
Debt	102	n/a	n/a	n/a
Operating lease liabilities	36.6	n/a	n/a	n/a
Finance lease liabilities	18.4	n/a	n/a	n/a
Other liabilities	395	n/a	n/a	n/a
Total liabilities and equity	1,683	n/a	n/a	n/a
Fixed assets	155	n/a	n/a	n/a
Goodwill	503	n/a	n/a	n/a
Intangible assets	392	n/a	n/a	n/a
Cash and equivalents	41.9	n/a	n/a	n/a
Receivables	199	n/a	n/a	n/a
Inventory	184	n/a	n/a	n/a
Other assets	208	n/a	n/a	n/a
Total assets	1,683	n/a	n/a	n/a

Questions

What was Esco Technologies' revenue in Q4 FY2023?

Esco Technologies (ESE) reported revenue of $273 million for Q4 FY2023, the quarter ended 30 September 2023, up 6.3% on the same quarter a year earlier.

How much did Esco Technologies earn in Q4 FY2023?

Net income for Q4 FY2023 was $32 million, up 3.1% on the year, and diluted earnings per share $1.24.

When did Esco Technologies report Q4 FY2023 results?

Esco Technologies filed its 10-K for the year that ended with the quarter on 29 November 2023; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	273	218	249	234	299	215	232	296	353	290	309	339
Cost of revenue	164	134	152	135	179	124	133	174	203	170	178	198
Gross profit	108	84.2	96.8	98.2	120	90.4	99.3	122	149	120	131	142
Gross margin	40%	39%	39%	42%	40%	42%	43%	41%	42%	41%	42%	42%
SG&A	56.6	54.0	55.1	51.0	60.0	55.0	54.3	62.0	63.3	61.2	62.8	71.0
Operating income	41.2	19.5	29.2	36.0	44.0	28.1	34.4	33.1	59.6	38.4	43.9	41.0
Operating margin	15%	9%	12%	15%	15%	13%	15%	11%	17%	13%	14%	12%
Interest expense	2.4	2.7	3.2	3.3	6.0	2.3	2.2	7.9	5.1	2.9	n/a	n/a
Pre-tax income	41.2	19.5	29.2	36.0	44.0	25.8	34.4	33.1	59.6	35.5	43.9	41.0
Tax rate	22%	22%	21%	22%	22%	21%	23%	25%	25%	19%	23%	20%
Net income	32.0	15.2	23.2	29.2	34.3	23.5	31.0	26.1	219	28.7	34.7	32.7
Net margin	12%	7%	9%	13%	11%	11%	13%	9%	62%	10%	11%	10%
Diluted EPS	$1.24	$0.59	$0.90	$1.13	$1.32	$0.91	$1.20	$1.01	$8.43	$1.11	$1.34	$1.26
Operating cash flow	47.7	8.7	10.5	36.2	72.1	34.2	24.1	73.7	110	68.9	6.4	58.8
Capital expenditure	5.4	7.8	8.5	8.6	11.2	5.1	10.1	8.9	n/a	5.9	7.2	11.4
Free cash flow	42.3	0.9	2.0	27.6	60.9	29.1	14.0	64.9	n/a	63.0	-0.8	47.3
Buybacks	0.0	2.1	5.1	0.8	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.1
Shares outstanding	26m	26m	26m	26m	26m	26m	26m	26m	26m	26m	26m	26m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 29 November 2023, accession 0001410578-23-002596: the filing on EDGAR. All of Esco Technologies Inc.'s filings: EDGAR company page.

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