Espey's Q1 sales rise but backlog and orders fall

Overview

• US military power supply maker's fiscal Q1 sales rose yr/yr

• Net income for fiscal Q1 was nearly flat yr/yr

• Company's new orders and backlog declined significantly from prior year

Outlook

• Company says management remains focused on bookings execution and cost management for fiscal 2027

Result Drivers

• BACKLOG - Total backlog at September 30 was $126.7 million, compared to $141.1 million last year

• NEW ORDERS - New orders received in Q1 were $2.6 million, compared to $10.5 million new orders in the prior year

• PRODUCT MIX SENSITIVITY - Gross profits remain sensitive to overall product mix and it is actively managing programs to build long-term value

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "hold"

• The average consensus recommendation for the electrical components & equipment peer group is "buy."

• Wall Street's median 12-month price target for Espey MFG & Electronics Corp is $70.00, about 46.1% above its November 12 closing price of $47.90

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)