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EnerSys, Inc. (symbol: ENS) is a global leader in stored energy solutions for industrial applications. With over 100 years of expertise in the battery industry, EnerSys has established itself as a comprehensive provider of DC power products. The company's extensive portfolio includes motive power, reserve power, aerospace/defense, and specialty batteries, complemented by a full range of integrated services and systems.
EnerSys excels in manufacturing and distributing energy system solutions that cater to a variety of industries. Their products include motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories, and outdoor equipment enclosure solutions. The company's energy systems are an amalgamation of enclosures, power conversion, power distribution, and energy storage, which are indispensable in telecommunications, broadband, utilities, uninterruptible power supplies, and numerous other applications requiring reliable stored energy solutions.
The company operates through three primary segments: Energy Systems, Motive Power, and Specialty. The Energy Systems segment focuses on integrated solutions for telecommunications, broadband, and utility industries. The Motive Power segment provides high-performance batteries for industrial forklifts and other commercial electric vehicles. The Specialty segment caters to aerospace, defense, and various industrial markets with custom battery solutions.
Recent Achievements: EnerSys continues to innovate, showcasing their commitment to sustainability and efficiency. Recent developments include advancements in battery technology, strategic partnerships, and expansions into new markets. The company's global sales and service network ensures that they maintain a strong presence and provide exceptional customer support worldwide.
EnerSys remains financially robust, with consistent revenue growth and a stable market position. They are an EEO/AA employer, committed to diversity and inclusion in their workforce. The company's ongoing projects and investments reflect their dedication to meeting the evolving energy needs of their global customer base.
For job opportunities and to join their talent network, visit EnerSys Careers.
EnerSys reported record net sales of $920 million for Q3 FY2023, marking a 9% year-over-year increase. Adjusted operating earnings reached a record $85 million, up 41% year-over-year. Despite facing foreign exchange headwinds and inflation, the company improved gross margins to 23.2%, a 150 bps rise sequentially. With a backlog of $1.3 billion, demand remains strong across all segments. The outlook for Q4 FY2023 predicts adjusted diluted EPS between $1.33 and $1.43. Key challenges include ongoing inflation and supply chain unpredictability.
EnerSys (NYSE: ENS) will release its third quarter fiscal 2023 financial results on February 8, 2023, after the market close. The results will cover the period ending January 1, 2023. Investors can access the press release and accompanying slide presentation via the Investor Relations section of the company's website. A conference call is scheduled for February 9, 2023, at 9:00 AM ET, where management will discuss the financial results. EnerSys specializes in stored energy solutions, manufacturing a range of products for industrial applications, and emphasizes sustainability in its operations.
EnerSys (NYSE: ENS) has successfully closed a $150 million trade receivable securitization facility with Wells Fargo, aimed at enhancing its balance sheet and providing annual interest savings of around $1.4 million. The facility, which has a three-year term, is expected to reduce interest expenses and lower leverage under its Credit Agreement. CFO Andrea J. Funk highlighted that this move will improve cash flow over time. This transaction marks a significant step in EnerSys' strategy to optimize financial performance amidst ongoing economic conditions.
EnerSys (NYSE: ENS) has appointed Tamara Morytko as a Class II director, effective immediately. Morytko, currently President of the Pumps Division at Flowserve, brings extensive experience in industrial manufacturing operations. Her past roles include COO at Norsk Titanium and various leadership positions at Baker Hughes and Pratt & Whitney. The board's chair, Arthur T. Katsaros, highlighted her expertise as a boost to the board's depth and succession initiatives. CEO David M. Shaffer noted her experience will support EnerSys' leadership and strategic objectives.
EnerSys (NYSE: ENS), a leader in stored energy solutions for industrial applications, announced a Tech Talk to discuss its energy systems offerings and lithium strategy. Scheduled for December 13, 2022, at 3:00 p.m. ET, the event will feature Senior VP Joern Tinnemeyer and President Drew Zogby. The talk will be accessible live and via replay on the company's Investor Relations site. EnerSys provides a range of energy systems, motive power batteries, and aftermarket services globally, solidifying its market position through strategic acquisitions and a commitment to sustainability.
EnerSys (NYSE: ENS), a leader in stored energy solutions, announced that Andrea J. Funk, Executive Vice President and CFO, will participate in a fireside chat at the Wells Fargo 6th Annual TMT Summit on November 29, 2022, at 10:00 a.m. PT (1:00 p.m. ET). The event will be accessible via live webcast and archived for future viewing on the Investor Relations page of EnerSys' website.
EnerSys specializes in energy systems and batteries used across diverse industries, including telecommunications and electric vehicles, and aims to minimize its environmental footprint as part of its sustainability initiatives.
EnerSys (NYSE: ENS) has announced a quarterly cash dividend of $0.175 per share, payable on December 30, 2022, to shareholders on record as of December 16, 2022. The company, a leader in stored energy solutions, focuses on diverse applications including industrial electric vehicles and specialty batteries for various sectors. This ongoing commitment to return capital to shareholders reinforces EnerSys's financial stability and operational confidence.
EnerSys reported $899 million in net sales for Q2 FY2023, a 14% increase year-over-year, despite a $45 million foreign exchange impact. Adjusted diluted EPS rose to $1.11, exceeding guidance of $1.05 to $1.15. The company boasts a healthy backlog of $1.4 billion, up 38% year-over-year. Adjusted gross margin improved by 120 bps sequentially, driven by effective pricing strategies. Looking ahead, guidance for Q3 FY2023 projects adjusted EPS between $1.20 to $1.30.
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