ENERSYS Reports 1.1% Increase in Revenue and 115.6% Increase in Net Income for FY2024 Q1

☀️Earnings Overview

For the first quarter of fiscal year 2024, closing June 30 2023, ENERSYS ($NYSE:ENS) reported total revenue of USD 908.6 million and a net income of USD 66.8 million, representing an increase of 1.1% and 115.6% respectively compared to the same period the previous year.

Analysis

GoodWhale has performed an analysis of ENERSYS‘s wellbeing and their findings have been summarized in the Risk Rating. According to the rating, ENERSYS is a medium risk investment in terms of financial and business aspects. GoodWhale has also detected two risk warnings in the company’s income sheet and balance sheet, and full details can be found by registering on GoodWhale.com. Financial risk for ENERSYS is the potential of failing to meet their financial obligations and appearing insolvent in the future. In particular, GoodWhale has identified potential risks associated with the company’s income sheet and balance sheet. When evaluating the risk rating, investors should take these warnings into consideration. Business risk for ENERSYS is related to the potential of experiencing a decrease in profitability or market share due to external market events, government regulations, or competition. GoodWhale has identified potential risks in this area as well, and these should be taken into consideration when evaluating the overall risk rating. Overall, ENERSYS is rated as a medium risk investment in terms of financial and business aspects. Investors should carefully review the risk warnings identified by GoodWhale and take them into consideration when making their decision. Full details can be found by registering on GoodWhale.com. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Enersys. ENERSYS_Reports_1.1_Increase_in_Revenue_and_115.6_Increase_in_Net_Income_for_FY2024_Q1″>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Enersys. ENERSYS_Reports_1.1_Increase_in_Revenue_and_115.6_Increase_in_Net_Income_for_FY2024_Q1″>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Enersys. ENERSYS_Reports_1.1_Increase_in_Revenue_and_115.6_Increase_in_Net_Income_for_FY2024_Q1″>More…

Key Ratios Snapshot

Some of the financial key ratios for Enersys are shown below. ENERSYS_Reports_1.1_Increase_in_Revenue_and_115.6_Increase_in_Net_Income_for_FY2024_Q1″>More…

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 Q1 FY2024 results, with total revenue of USD 908.6 million and net income of USD 66.8 million – a 1.1% and 115.6% increase, respectively, from the same period last year. This is a positive sign for investors as Enersys continues to perform well. With strong balance sheets, a proven track record of profitability, and continued revenue growth, Enersys remains a sound investment.

The company continues to invest in research and development to ensure the long-term success of their business, while also delivering attractive returns to their shareholders. Moving forward, Enersys appears to be well-positioned to capitalize on future growth opportunities and deliver solid returns to their investors.