{
  "url": "https://struct.news/briefs/esco-grew-profit-26-cash-flow-barely-moved",
  "title": "ESCO grew profit 26%. Cash flow barely moved",
  "summary": "Accounts receivable rose 12.4% during the nine months, nearly nine times the growth in operating cash flow.",
  "published_at": "2026-08-10T17:59:37.240025+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "ESCO Technologies Inc.",
    "ticker": "ESE",
    "cik": "1104659",
    "sector": "Technology",
    "industry": "Scientific & Technical Instruments"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-10",
    "accession": "0001104659-26-093266",
    "url": "https://www.sec.gov/Archives/edgar/data/866706/000110465926093266/ese-20260630x10q.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-11",
    "url": "https://www.sec.gov/Archives/edgar/data/866706/000141057825001667/ese-20250630x10q.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 1095388000,
      "display": "$1.1B",
      "unit": "usd",
      "period": "2025-09-30",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001104659-26-093266",
        "filing_date": "2026-08-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 19.17700165483116,
      "display": "+19.2%",
      "unit": "percent",
      "period": "2025-09-30",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001104659-26-093266",
        "filing_date": "2026-08-10"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 15.552023575208054,
      "display": "+15.6%",
      "unit": "percent",
      "period": "2025-09-30",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001104659-26-093266",
        "filing_date": "2026-08-10"
      }
    }
  ],
  "watch_next": [
    {
      "type": "interest_rates",
      "statement": "Megger financing costs increased interest expense, partly offset by lower borrowings and lower average interest rates.",
      "importance": "medium",
      "evidence": "The increase in interest expense in the third quarter and first nine months of 2026 compared to the corresponding periods of 2025 was mainly due to approximately $7 million of debt financing costs incurred in the third quarter of 2026 related to the pending Megger acquisition, partially offset by lower average outstanding borrowings due to the prior year Maritime acquisition and lower average interest rates.",
      "source_date": "2026-08-10"
    },
    {
      "type": "demand",
      "statement": "Higher Doble volumes supported EBIT, while lower NRG volumes offset part of the gain.",
      "importance": "medium",
      "evidence": "The increase in EBIT in the third quarter and first nine months of 2026 compared to the corresponding periods of 2025 was mainly driven by leverage on higher sales volumes at Doble and price increases and mix, partially offset by lower sales volumes at NRG, and inflationary pressures.",
      "source_date": "2026-08-10"
    },
    {
      "type": "pricing",
      "statement": "Price increases and mix contributed to higher EBIT, with inflation offsetting part of the benefit.",
      "importance": "medium",
      "evidence": "The increase in EBIT in the third quarter and first nine months of 2026 compared to the corresponding periods of 2025 was mainly driven by leverage on higher sales volumes at Doble and price increases and mix, partially offset by lower sales volumes at NRG, and inflationary pressures.",
      "source_date": "2026-08-10"
    },
    {
      "type": "working_capital",
      "statement": "Inventory increased because of higher work-in-process and raw materials tied to the timing of manufacturing existing orders.",
      "importance": "medium",
      "evidence": "Inventories increased $22.7 million during this period due to a $14.9 million increase within the A&D segment, and a $9.2 million increase within the USG segment; both increases due to higher work-in-process and raw materials inventories due to timing of manufacturing existing orders, partially offset by a $1.4 million decrease within the Test segment.",
      "source_date": "2026-08-10"
    }
  ],
  "related_tickers": [
    "ESE"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}