EnerSys Q1 sales beats estimates, pauses FY guidance due to macro uncertainties
Overview
EnerSys fiscal Q1 net sales rise 5% to $893 mln, beating estimates, per LSEG data
Adjusted EPS of $1.11 missed analyst expectations, per LSEG data
Co announces $1 bln increase in stock repurchase authorization
Outlook
EnerSys expects Q2 net sales of $870M to $910M
Company anticipates Q2 adjusted diluted EPS of $2.33 to $2.43
EnerSys sees Q2 IRC 45X benefits to cost of sales at $35M to $40M
Company pauses full-year guidance amid policy and macro uncertainties
Result Drivers
BREN-TRONICS ACQUISITION - Revenue growth driven by Bren-Tronics acquisition, contributing to 4% increase in sales
COMMUNICATIONS RECOVERY - Continued recovery in U.S. Communications market supported sales growth
DATA CENTER DEMAND - Robust Data Center deployments bolstered revenue, per CEO Shawn O’Connell
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Beat | $893 mln | $848 mln (4 Analysts) |
Q1 Adjusted EPS | Miss | $1.11 | $2.05 (4 Analysts) |
Q1 EPS |
| $1.46 |
|
Q1 Net Income |
| $57.50 mln |
|
Q1 Operating Earnings |
| $86.50 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for EnerSys is $101.00, about 9.5% above its August 5 closing price of $91.40
Press Release: ID:nBw4KjDkta
