EnerSys posts record Q1 EPS $1.60, adjusted $1.89; raises dividend 29% to $0.225

EnerSys

2024-Q1 EPS reported $1.60 revenue$908,569,000

Net sales $909M (+1% YoY); record GAAP EPS $1.60 ($0.85 YoY increase), adjusted EPS $1.89.
Record gross margin 26.4% (+580 bps); includes $19M IRA 45X tax credit benefit.
Operating earnings $89M (+78%); adjusted operating earnings $107.2M (+65%).
Quarterly dividend raised 29% to $0.225/share, payable Sep 29, record Sep 15.
Reduced net leverage to 1.5x EBITDA; operating cash flow $75M.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EnerSys reported first quarter of fiscal 2024 results: revenue $908.6, net income $66.8, EPS $1.60.

Period: first quarter of fiscal 2024
Revenue: $908.6
Net income: $66.8
EPS: $1.60
Result: reported results

Exact text from the filing

MORE THAN DOUBLE PRIOR YEAR First Quarter Fiscal 2024 Highlights (All comparisons against the first quarter of fiscal year 2023 unless otherwise noted) • Delivered net sales of $909M, +1% on customers normalizing inventory levels • Achieved record GM of 26.4%, +580 bps, including $19M benefit from Inflation Reduction Act IRC 45X tax credits • Generated

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Source: SEC EDGAR

accession 0001289308-23-000039

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