The financial results for the Q4 2020 ending on September 30, 2020, have been announced by ESCO Technologies Inc. (NYSE: ESE).
GAAP EPS fell to $0.81 (net loss of $21 million) per share in the fourth quarter of 2020, which contained the quarterly effect of the 2020 discreet items. Except for the influence of the 2020 Discrete Items on net profits, Adjusted EPS was $0.90 per share in the fourth quarter.
Meanwhile, GAAP EPS was $0.95 per share in the fourth quarter of 2019 (GAAP net income of $25 million) which contained $0.07 per share from discontinued activities and other non-operating products reported in previous reports. Adjusted EPS was $1.02 per share in the fourth quarter of 2019, minus discontinued activities and other non-operating products.
Adjusted EBITDA amounted to $42 million during the fourth quarter of 2020, relative to adjusted EBITDA of $48 million during the same period in 2019.
GAAP EPS was $3.90 per share for the full year 2020 (GAAP net earnings of $102 million) which contained the net earnings effect of the above listed 2020 Discrete Items. 2020 Adjusted EPS was $2.76 per share, excluding the net earnings effect of the 2020 Separate Products.
GAAP EPS was $3.10 per share for the full year 2019 ($81 million in GAAP net earnings) which contained $0.15 per share from discontinued activities and other non-operating products listed in previous announcements. 2019 Adjusted EPS was $2.95 per share excluding discontinued activities and other non-operating products.
Adjusted EBITDA for the full year 2020 was $137 million, relative to adjusted EBITDA of $141 million for 2019.
As we continue to work through the global COVID-19 pandemic, we remain focused on the health and welfare of our personnel, consumers and vendors, while maintaining the company’s financial well-being, Vic Richey, Chairman, and Chief Executive Officer, commented.
Our 2020 outcomes illustrate the importance of retaining flexibility in our target markets, as our long-term success would be driven by this diversity, combined with our solid balance sheet and significant liquidity, he added.
