ESCO Technologies (ESE) to Sell Technical Packaging Business, Offers FY Guidance
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ESCO Technologies (ESE) Tops Q4 EPS by 3c, Revenues Beat; Offers Q1 & FY20 EPS Guidance Below Consensus
November 19, 2019 4:20 PM ESTESCO Technologies (NYSE: ESE) reported Q4 EPS of $1.09, $0.03 better than the analyst estimate of $1.06. Revenue for the quarter came in at $236.66 million versus the consensus estimate of $235.35 million.
Operating Highlights
Net sales increased $41 million (5.4 percent) to $813 million in 2019 compared to $772 million in 2018.On a segment basis, 2019 Filtration sales increased 14 percent from 2018 (10.5 percent excluding Globe). Aerospace sales (PTI, Crissair, and Mayday) increased $32 million (19 percent) in 2019 driven by higher OEM build rates and strong after-market demand, partially offset by lower navy sales at VACCO due to revenue recognition timing on several large programs. Test sales... More