ENERSYS Reports Second Quarter FY2024 Earnings Results for Period Ending September 30 2023

🌥️Earnings Overview

On November 8 2023, ENERSYS ($NYSE:ENS) reported its earnings results for the second quarter of FY2024, which ended on September 30 2023. Total revenue for the quarter was USD 901.0 million, signifying a great increase from the previous year’s figure of 0.9 million. Moreover, the company achieved a net income of USD 65.2 million – a major improvement from the year before’s amount of 0.0 million.

Price History

The company’s stock opened at $87.6 and closed at $87.3, representing a slight decrease of 0.3% from its previous closing price of 87.5. Overall, ENERSYS reported strong results for the second quarter of FY2024, with slight decreases in net income and EPS more than offset by increases in revenues, margins, and cash flow. The company’s shareholders will benefit from the increased dividend payment announced for the quarter. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Enersys. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Enersys. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Enersys. More…

Key Ratios Snapshot

Some of the financial key ratios for Enersys are shown below. More…

Analysis

At GoodWhale, we analyze ENERSYS‘s financials to help our clients make savvy investment decisions. Our star chart shows that ENERSYS has a high health score of 7/10, indicating that it is capable to sustain future operations in times of crisis. We classify ENERSYS as a ‘cheetah’, a type of company which has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Considering ENERSYS’s performance across each criteria, we can see that it is strong in cashflows and debt, medium in dividend, growth, profitability and weak in asset. As such, investors who are risk-tolerant and looking for potential growth opportunities may be interested in investing in ENERSYS. It is important for potential investors to consider the risks associated with investing in such a company in order to make an informed decision. 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 delivered strong financial results for the second quarter of FY2024, with total revenue of $901 million and net income of $65.2 million. This marks a significant improvement from the same period last year, when revenues stood at $0.9 million and net income was zero. Investing in Enersys could be a good opportunity for investors, as the company has shown a strong quarter-on-quarter performance that indicates a more positive outlook for the coming quarters. The company’s financials are also bolstered by its product diversification and global presence, which could provide potential for long-term growth.