ENERSYS Reports 1.1% Increase in Revenue and 115.6% Increase in Net Income for First Quarter of FY2024
August 17, 2023
☀️Earnings Overview
For the first quarter of financial year 2024 ending on June 30 2023, ENERSYS ($NYSE:ENS) reported a total revenue of USD 908.6 million, a 1.1% increase from the same period the previous year, and net income of USD 66.8 million, a 115.6% increase from the previous year.
Analysis
GoodWhale has conducted an analysis of ENERSYS‘s wellbeing, which has resulted in the company being classified as a ‘cheetah’. This type of company is characterized by high revenue or earnings growth, but is typically considered less stable due to lower profitability. Therefore, it is likely to appeal to certain types of investors, such as those looking for a high return but accepting a higher level of risk. The Star Chart for ENERSYS shows that it is strong in profitability, medium in asset growth and weak in dividend. Furthermore, ENERSYS has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable of sustaining future operations even in difficult times. This combination of strengths and weaknesses make it an attractive option for investors who are willing to accept a higher level of risk and are looking for high returns. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enersys. More…
| Total Revenues | Net Income | Net Margin |
| 3.72k | 211.63 | 6.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enersys. More…
| Operations | Investing | Financing |
| 426.77 | -46.25 | -503.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enersys. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.48k | 1.8k | 40.94 |
Key Ratios Snapshot
Some of the financial key ratios for Enersys are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.3% | 11.6% | 8.4% |
| FCF Margin | ROE | ROA |
| 9.3% | 11.8% | 5.6% |
Peers
The company competes with ESS Tech Inc, Shandong Sacred Sun Power Sources Co Ltd, Eos Energy Enterprises Inc, among others. EnerSys has a diversified product portfolio and a strong market position. The company’s products are used in a variety of applications including material handling, oil and gas, power generation, transportation, and other industrial applications.
– ESS Tech Inc ($NYSE:GWH)
Founder and CEO of the company is Jean-luc Roy. The company provides software for the management and analysis of data. The company went public in May of 2017. The company’s market cap as of December of 2020 was $525.68 million. The company’s ROE as of December of 2020 was -188.29%.
– Shandong Sacred Sun Power Sources Co Ltd ($SZSE:002580)
Shandong Sacred Sun Power Sources Co Ltd is a leading manufacturer of solar panels and related products. The company has a market cap of 4.97B as of 2022 and a return on equity of 4.18%. The company’s products are used in a variety of applications, including solar power plants, residential and commercial rooftops, and portable solar power systems.
– Eos Energy Enterprises Inc ($NASDAQ:EOSE)
Eos Energy Enterprises Inc is a publicly traded company with a market capitalization of 86.7 million as of 2022. The company has a return on equity of 163.71%. Eos Energy Enterprises Inc is engaged in the business of developing and commercializing energy storage solutions based on zinc-air batteries.
Summary
Enersys has reported strong financial results for the first quarter of 2023, with total revenue up 1.1% to $908.6 million and net income up 115.6% to $66.8 million compared to the same period last year. This is an excellent performance and indicates that Enersys is well-positioned for further success in the future. Investors should be encouraged by the company’s robust revenue growth, positive cash flow, and expense management.
It also shows that Enersys is actively executing on its strategic initiatives, which could provide long-term upside to shareholders. Overall, Enersys is a compelling investment opportunity for those looking to benefit from its impressive financial performance.
