AND SUBSIDIARIESCondensed Business Segment Information (Unaudited)(Dollars in thousands) GAAP As Adjusted YTD Q2 2025 YTD Q2 2024 YTD Q2 2025 YTD Q2 2024 Net Sales Aerospace & Defense$237,670 209,434 237,670 209,434 USG 177,427 170,293 177,427 170,293 Test 97,448 87,716 97,448 87,716 Totals$512,545 467,443 512,545 467,443 EBIT Aerospace & Defense$51,892 40,040 51,920 40,303 USG 41,269 35,200 41,352 35,320 Test 10,791 7,321 11,256 7,797 Corporate (29,060) (27,993) (18,959) (16,860) Consolidated EBIT 74,892 54,568 85,569 66,560 Less: Interest expense (4,452) (5,893) (4,452) (5,893) Less: Income tax (15,934) (10,287) (18,390) (13,045) Net earnings$54,506 38,388 62,727 47,622 Note 1: Adjusted net earnings of $62.7 million in YTD 2025 exclude $8.2 million (or $0.31 per share) of after-tax charges consisting of: $0.01 of restructuring charges within the Test segment and acquisition related costs at Corporate, and $0.30 of acquisition related amortization. Note 2: Adjusted net earnings of $47.6 million in YTD 2024 exclude $9.2 million (or $0.36 per share) of after-tax charges consisting of: $0.05 of MPE acquisition backlog and inventory step-up charges and acquisition costs, $0.02 of restructuring costs (primarily severance) within the Test and A&D segments, and $0.29 of acquisition related amortization. EBITDA Reconciliation to Net earnings: YTD YTD YTD YTD Q2 2025 - Q2 2024 - Q2 2025 Q2 2024 As Adjusted As Adjusted Consolidated EBITDA$102,673 82,123 103,393 83,582 Less: Depr & Amort (27,781) (27,555) (17,824) (17,022) Consolidated EBIT 74,892 54,568 85,569 66,560 Less: Interest expense (4,452) (5,893) (4,452) (5,893) Less: Income tax expense (15,934) (10,287) (18,390) (13,045) Net earnings$54,506 38,388 62,727 47,622 ESCO TECHNOLOGIES INC.
AND SUBSIDIARIESCondensed Business Segment Information (Unaudited)(Dollars in thousands) GAAP As Adjusted Q2 2025 Q2 2024 Q2 2025 Q2 2024 Net Sales Aerospace & Defense$123,369 114,701 123,369 114,701 USG 90,767 87,309 90,767 87,309 Test 51,383 47,119 51,383 47,119 Totals$265,519 249,129 265,519 249,129 EBIT Aerospace & Defense$30,296 23,377 30,298 23,640 USG 20,779 17,575 20,862 17,575 Test 6,369 5,542 6,369 5,745 Corporate (14,750) (14,047) (9,648) (8,260) Consolidated EBIT 42,694 32,447 47,881 38,700 Less: Interest expense (2,195) (3,226) (2,195) (3,226) Less: Income tax expense (9,466) (6,002) (10,659) (7,440) Net earnings$31,033 23,219 35,027 28,034 Note 1: Adjusted net earnings of $35.0 million in Q2 2025 exclude $4.0 million (or $0.15 per share) of after-tax charges consisting primarily of acquisition related amortization. Note 2: Adjusted net earnings of $28.0 million in Q2 2024 exclude $4.8 million (or $0.19 per share) of after-tax charges consisting of: $0.02 of MPE acquisition backlog charges, $0.02 of restructuring charges (primarily severance) within the Test and A&D segments, and $0.15 of acquisition related amortization. EBITDA Reconciliation to Net earnings: Q2 2025 - Q2 2024 - Q2 2025 Q2 2024 As Adjusted As Adjusted Consolidated EBITDA$56,668 46,550 56,895 47,174 Less: Depr & Amort (13,974) (14,103) (9,014) (8,474) Consolidated EBIT 42,694 32,447 47,881 38,700 Less: Interest expense (2,195) (3,226) (2,195) (3,226) Less: Income tax expense (9,466) (6,002) (10,659) (7,440) Net earnings$31,033 23,219 35,027 28,034 ESCO TECHNOLOGIES INC.
AND SUBSIDIARIES Reconciliation of Non-GAAP Financial Measures (Unaudited) EPS – Adjusted Basis Reconciliation – Q2 2025 EPS – GAAP Basis – Q2 2025$1.20 Adjustments (defined below) 0.15 EPS – As Adjusted Basis – Q2 2025$1.35 Adjustments exclude $0.15 per share consisting primarily of acquisition related amortization. The $0.15 of EPS adjustments per share consists of $5.2 million of pre-tax charges offset by $1.2 million of tax benefit for net impact of $4 million. EPS – Adjusted Basis Reconciliation – Q2 2024 EPS – GAAP Basis – Q2 2024$0.90 Adjustments (defined below) 0.19 EPS – As Adjusted Basis – Q2 2024$1.09 Adjustments exclude $0.19 per share consisting primarily of $0.02 of MPE acquisition backlog charges, $0.02 of restructuring charges within the Test and A&D segments, and $0.15 of acquisition related amortization. The $0.19 of EPS adjustments per share consists of $6.2 million of pre-tax charges offset by $1.4 million of tax benefit for net impact of $4.8 million. EPS – Adjusted Basis Reconciliation – YTD Q2 2025 EPS – GAAP Basis – YTD Q2 2025$2.11 Adjustments (defined below) 0.31 EPS – As Adjusted Basis – YTD Q2 2025$2.42 Adjustments exclude $0.31 per share consisting primarily of $0.01 of restructuring charges within the Test segment and $0.30 of acquisition related amortization. The $0.31 of EPS adjustments per share consists of $10.7 million of pre-tax charges offset by $2.5 million of tax benefit for net impact of $8.2 million. EPS – Adjusted Basis Reconciliation – YTD Q2 2024 EPS – GAAP Basis – YTD Q2 2024$1.49 Adjustments (defined below) 0.36 EPS – As Adjusted Basis – YTD Q2 2024$1.85 Adjustments exclude $0.36 per share consisting primarily of $0.05 of MPE acquisition backlog charges, inventory step-up charges and acquisition costs, $0.02 of restructuring charges, and $0.29 of acquisition related amortization. The $0.36 of EPS adjustments per share consists of $12 million of pre-tax charges offset by $2.8 million of tax benefit for net impact of $9.2 million. SOURCE ESCO Technologies Inc.
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