EnerSys raises Q3 FY2024 adjusted EPS guidance to $2.50-$2.60 on increased Section 45X tax credits

EnerSys

Annual Section 45X tax credits now expected $120M-$160M, up from prior $80M-$120M.
Q3 FY2024 adjusted diluted EPS guidance raised to $2.50-$2.60 from $1.80-$1.90.
Increase driven by proposed Treasury regulations clarifying battery capacity calculation; credits reduce COGS.
Retroactive impacts from Q4 FY2023 through Q3 FY2024 included in updated guidance.
Sustained capex pauses from telecom/broadband customers partially offset gains.

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