EnerSys (ENS) Misses Q4 EPS by 7c, Revenues Beat

EnerSys (NYSE: ENS) reported Q4 EPS of $1.11, $0.07 worse than the analyst estimate of $1.18. Revenue for the quarter came in at $781.8 million versus the consensus estimate of $771.59 million.

David M. Shaffer, President and Chief Executive Officer of EnerSys stated “As I noted in our press release on April 21st, the fourth quarter reflected good performance despite the many challenges we faced, including the direct adverse impact COVID-19 had on our factories in China and overall supply chain. Currently, all of our factories, deemed essential critical infrastructure suppliers, remain in operation with some near full capacity while others reflect lower demand, particularly those in our motive power lines of business. We have been able to meet customer demand while maintaining the safety considerations for those in our facilities and as many employees continue to work effectively from home. Orders softened from our OEM motive power and transportation customers due to their forced closures related to COVID. In the near term, additional TPPL production is being allocated to network power, defense and the startup of our premium automotive retail business. We remain optimistic about our upcoming 5G opportunities and have continued significant progress on our new small cell powering solutions. We also continue to win meaningful new defense contracts for our thermal batteries. Meanwhile, we are adjusting our cost structure to adapt to the current environment while generating strong cash flows, protecting our balance sheet and capitalizing on opportunities to increase market share.”

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

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