Latest news with #DavidO'Neil
Yahoo
15-05-2025
- Business
- Yahoo
Espey Stock Gains 16% on Q3 Earnings Up Y/Y, Backlog Hits $138 Million
Shares of Espey Mfg. & Electronics Corp. ESP have gained 15.9% since the company reported its earnings for the quarter ended March 31, 2025. This compares to the S&P 500 index's 4% growth over the same time frame. Over the past month, the stock has gained 19.8% compared with the S&P 500's 11.3% growth, reflecting strong investor confidence likely tied to the company's robust performance and expanding order pipeline. For the third quarter of fiscal 2025, Espey reported net income of 63 cents per share compared to 40 cents per share in the prior-year quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.) The company posted net sales of $10.3 million, a 24.8% increase from $8.3 million in the same period last year. Net income surged 65.2% to $1.7 million, compared to $1 million in the prior-year quarter. For the first nine months of fiscal 2025, net sales reached $34.4 million, marking a 26.7% increase from $27.1 million in the prior-year comparable period. Net income over the same nine-month period rose 32.9% to $5.2 million, or $1.95 per share, from $3.9 million, or $1.56 per share, a year ago. Espey Mfg. & Electronics Corp. price-consensus-eps-surprise-chart | Espey Mfg. & Electronics Corp. Quote A standout metric from the report was the significant expansion in Espey's backlog, which stood at $138 million as of March 31, 2025, up 63.9% from $84.2 million a year earlier. This robust increase is underpinned by new orders totaling $75.1 million during the first nine months of fiscal 2025, more than double the $27.8 million in new orders booked in the same period of the previous fiscal year. The order growth was boosted by a previously announced $19.8 million contract, which has helped cement a strong near-term production pipeline. The backlog figure suggests sustained demand across the company's core defense and industrial power supply markets, positioning Espey well for continued revenue expansion. President and CEO David O'Neil credited the company's year-over-year growth in sales and earnings to strategic margin improvement initiatives and operational execution. He noted the company's ability to improve margins on key programs and emphasized that the growth in backlog is a direct result of a record year for new orders. Espey's top and bottom-line performance was driven primarily by increased production volume and improved pricing or mix within its power supply and transformer programs. The earnings improvement reflects both the scale benefit of higher sales and management's ability to execute cost discipline. Though detailed margin data was not disclosed in the earnings release, O'Neil's reference to improving gross profits on key programs suggests enhanced profitability in high-contribution segments. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Espey Mfg. & Electronics Corp. (ESP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
SNAP cuts proposal endangers Texoma food security
WICHITA FALLS (KFDX/KJTL) — Proposed snap cuts could increase food insecurity in Texoma after recent changes were made to the U.S. House Agriculture Committee's reconciliation bill. The bill includes changes such as stricter benefits requirements, making refugees ineligible for SNAP, and mandating state payments of 5 to 25 percent for SNAP benefit amounts, which hurts the program's ability to meet increased need during natural disasters and economic crises. Construction projects in Wichita Falls to boost economy These measures would result in a decrease in benefit levels, fewer people eligible for food assistance and a significant reduction in the number of people participating in the program. Wichita Falls Area Food Bank CEO David O'Neil said the SNAP cuts directly hurt the children and families on fixed incomes who are already struggling with hunger in our food bank's 12-county area. 'Out of almost 200 food banks, the Wichita Falls area food bank has the 15th highest hunger rate or food insecurity rate in the entire country. So we're at a point where it's already difficult for many, many of our neighbors to seek assistance and get help,' O'Neil said. 'But the change and the bill that's being presented, through the budget reconciliation, is going to make it even more difficult for our neighbors to be able to find food.' According to the Urban Institute, the SNAP cost-sharing plan could push nearly 900,000 additional people into poverty during a recession. The Feeding Texas Network is calling on members of the House Agriculture Committee and all members of the US House to reject these proposed snap cuts, which include the state cost-share plan. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
06-05-2025
- Business
- Yahoo
United Supermarkets aids Wichita Falls Area Food Bank in hunger fight
WICHITA FALLS (KFDX/KJTL) — United Supermarkets has continued to fight hunger by generously donating to the Wichita Falls Area Food Bank. On Monday, May 5, the grocery chain donated nearly 3,900 pounds of apples. Over the years, WFAFB has received 650,000 pounds of apples from United. Food Bank CEO David O'Neil said the bank's commonality of serving the 12-county area helps it continue to serve the food-insecure. 'When we get a donation of this size, it warms our hearts for everybody here at the food bank, our board, and all of those who invest in us, because that's our mission,' O'Neil said. The mobile teaching kitchen also gave samples of a recipe that uses apples. The non-profit posts a weekly video of fresh recipes for everyone to try. For their latest recipe, visit the WFAFB Facebook page. Click here for more information on the programs, newsletters, donations, etc. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to
Yahoo
07-02-2025
- Sport
- Yahoo
Tackle Hunger talks with CEO of Wichita Falls Area Food Bank
WICHITA FALLS (KFDX/KJTL) — The Super Bowl is Sunday, but it's also the final day to help the morning and evening teams get food donated for the Wichita Falls Area Food Bank. The CEO of the WFAFB, David O'Neil, visited us; this has been a record-breaking competition. NFL player returns home to help clean up eastside Wichita Falls Darrell and Carney from the evening team had the chance to interview O'Neil, and the evening crew said that just last week, someone made a hefty monetary donation, which not only helped them come back to first place at the moment but will also help the WFAFB purchase canned foods as well. If you donate canned foods to Tackle Hunger, O'Neil said protein would be appreciated, for example, canned chicken, tuna, and beans, because there is usually never enough protein. No matter who wins, our neighbors in need are the real winners here. The AM team is now at 1,726 PM team is now at 2,454 lbs. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
