EnerSys (ENS) Tops Q2 EPS by 5c, Announces $214M Buyback Plan

EnerSys (NYSE: ENS) reported Q2 EPS of $1.06, $0.05 better than the analyst estimate of $1.01. Revenue for the quarter came in at $629.9 million versus the consensus estimate of $630.8 million.

EnerSys sees Q3 2014 EPS of $1.04-$1.08, versus the consensus of $1.15.

EnerSys (NYSE: ENS) the global leader in stored energy solutions for industrial applications, announced today the establishment of a new $60 million stock repurchase authorization. With this authorization, the total stock repurchase program in fiscal 2015 is $214 million. The Company had repurchased $121 million of EnerSys stock through the second quarter of fiscal 2015. The authorized repurchases will be made from time to time in either the open market or through privately negotiated transactions. The timing, volume and nature of share repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time. No assurance can be given that any particular amount of common stock will be repurchased. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when EnerSys might otherwise be prevented from doing so under insider trading laws or because of self-imposed blackout periods. This repurchase program may be modified, extended or terminated by the Board of Directors at any time.

For earnings history and earnings-related data on EnerSys (ENS) click here.

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