Espey Mfg. & Electronics Up 13.22% To $18.41 After Earnings

Espey MFG and Electronics Corp (ESP) reported better than expected earnings this afternoon for Q2 2023.

Espey Mfg. & Electronics reported EPS of $0.47. Profits rose 4600% year-over-year after reporting an EPS of $0.01 in its year-ago quarter. The positive growth rate signals that the Industrials company is performing well amid recent economic conditions.

Espey Mfg. & Electronics reported Q2 2023 revenue of $8.8 million. The $8.8 million (0%) negative revenue surprise led to 18% growth year-over-year as the firm reported revenue of $7.5 million in its year-ago quarter. The higher earnings growth compared to revenue points to Espey Mfg. & Electronics improving its profit margin.

The stock is up 13.22% to $18.41 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned Espey Mfg. & Electronics a Bullish Sentiment Rank from InvestorsObserver.

Espey Mfg. & Electronics has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 98, putting Espey Mfg. & Electronics in the top 25% of stocks. The firm was recently trading at a 52-week high of $17.3 on February 13, 2023 and set a 52-week low on May 18, 2022 at $12.39.

Espey Manufacturing & Electronics Corp designs, develops, tests, and manufactures specialized military and rugged industrial power supplies and transformers for use in harsh or severe environment applications. Its products and solutions include power converters, power conditioning, high voltage radar, contract manufacturing, custom engineering, and others. The applications of these products include AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power.