ESCO Technologies Inc. (NYSE:ESE) Q3 2022 Earnings Conference Call August 8, 2022 5:00 PM ET
Company Participants
Kate Lowrey – Vice President of Investor Relations
Vic Richey – Chairman and Chief Executive Officer
Chris Tucker – Senior Vice President and Chief Financial Officer
Conference Call Participants
Tommy Moll – Stephens
John Franzreb – Sidoti
Jon Tanwanteng – CJS Securities
Operator
Good day, and thank you for standing by. Welcome to the Third Quarter 2022 ESCO Technologies Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.
On the call today, we have Vic Richey, Chairman and CEO; Chris Tucker, Senior Vice President and CFO.
And I would now like to hand the conference over to your first speaker today, Kate Lowrey, Vice President of Investor Relations. Kate, you now have the floor.
Kate Lowrey
Thank you. Statements made during this call, which are not strictly historical are forward-looking statements within the meaning of the Safe Harbor provisions of the federal securities laws. These statements are based on current expectations and assumptions and actual results may differ materially from those projected in the forward-looking statements.
Due to risks and uncertainties exist in the company’s operations and business environment, including, but not limited to, the risk factors referenced in the company’s press release issued today, which will be included as an exhibit to the company’s Form 8-K to be filed. We undertake no duty to update or revise any forward-looking statements, except as may be required by applicable laws or regulations.
In addition, during this call, the company may discuss some non-GAAP financial measures in describing the company’s operating results. A reconciliation of these measures to the most comparable GAAP measures can be found in the press release issued today and found on the company’s website at www.escotechnologies.com under the link Investor Relations.
Now, I’ll turn the call over to Vic.
Vic Richey
Thanks, Kate, and thanks, everybody, for joining today’s call. I’ll start off with thanking our global teams. We continue to experience challenging operating conditions across all of our end markets that the teams are working tirelessly to deliver for our customers.
We did see the benefits of this hard work during the quarter, with reported sales increasing by over 20%. This is the second quarter in a row of sales growth in excess of 20%. This strong top line growth translated to the bottom line, which reported earnings per share of over 50% and adjusted earnings per share up 33%, I would say, strong performance indeed.