8-K
filed November 8, 2023, 6:59 PM ET
ticker ENS
CIK 0001289308
earnings
confidence high
sentiment positive
materiality 0.82
EnerSys Q2 FY2024 EPS $1.56 (+86% YoY); record gross margin 26.6%; dividend raised to $0.225
EnerSys
2024-Q2 EPS reported
$3.17
revenue$1,809,602,000
- Q2 FY2024 net sales $901M (record Q2); GAAP diluted EPS $1.56 (+86% YoY); adjusted diluted EPS $1.84 (+66% YoY).
- Record gross margin 26.6% (+490 bps YoY) driven by $22M IRA 45X tax credit benefit.
- Operating cash flow $111M; net leverage reduced to 1.4x EBITDA; share repurchases $47.3M in quarter.
- Quarterly dividend increased to $0.225/share (from $0.175), payable Dec 29 to holders of record Dec 15.
- Shawn O'Connell appointed President Energy Systems Global; Chad Uplinger named President Motive Power Global.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
EnerSys reported Second quarter fiscal 2024 results: revenue $901.0, net income $65.2, EPS $1.56.
- Period
- Second quarter fiscal 2024
- Revenue
- $901.0
- Net income
- $65.2
- EPS
- $1.56
- Result
- reported results
Exact text from the filing
Delivered net sales of $901M, a record second quarter
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
EnerSys reported Second quarter fiscal 2024 results: revenue $901.0, net income $65.2, EPS $1.56.
- Period
- Second quarter fiscal 2024
- Revenue
- $901.0
- Net income
- $65.2
- EPS
- $1.56
- Result
- reported results
Exact text from the filing
EPS OF $1.56, UP 86% FROM PRIOR YEAR Second Quarter Fiscal 2024 Highlights (All comparisons against the second quarter of fiscal year 2023 unless otherwise noted) • Delivered net sales of $901M, a record second quarter • Achieved record GM of 26.6%, +490 bps, including $22M benefit from Inflation Reduction Act IRC 45X tax credits • Generated operating earnings of $89M, +63%, and adjusted operating earnings (2) of $103M, +58% • Realized diluted EPS of $1.56, +86%, and adjusted diluted EPS (1) of $1.84, +66% • Reduced net leverage (a) to 1.4X EBITDA on operating cash flow of $111M • Received initial order for 50 systems from our Fast Charge and Storage (FC&S) launch customer • Won Environmental Finance Energy Efficiency Initiative of the Year award for EOS lean management energy and waste reduction achievements READING, Pa.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Andrew M. Zogby departed as President, Energy Systems Global at EnerSys.
- Action
- ceased to be
- Role
- President, Energy Systems Global
Exact text from the filing
Andrew M. Zogby ceased to be President, Energy Systems Global of EnerSys, but continues with EnerSys in an executive advisory role through his retirement on March 31, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Shawn M. O’Connell was appointed as President, Energy Systems Global at EnerSys.
- Action
- appointed
- Role
- President, Energy Systems Global
Exact text from the filing
Shawn M. O’Connell was appointed President, Energy Systems Global of EnerSys
View on SEC.gov
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