Enersys Inc is a global leader in stored energy solutions, specializing in the manufacture and distribution of industrial batteries and energy systems
The company provides a wide range of advanced battery technologies, power management products, and services to various sectors, including telecommunications, data centers, transportation, and renewable energy. Enersys's offerings encompass motives and reserve power applications, particularly in material handling and telecommunications, enabling businesses to optimize their energy usage and enhance operational efficiency. With a commitment to innovation and sustainability, Enersys continues to develop and deliver reliable energy storage solutions that meet the evolving needs of its diverse client base.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how renewable energy stocks fared in Q3, starting with EnerSys (NYSEENS).
Over the past six months, EnerSys’s shares (currently trading at $92.22) have posted a disappointing 11.4% loss, well below the S&P 500’s 9.7% gain. This was partly due to its softer quarterly results and might have investors contemplating their next move.
We are looking for value in the Industrials Sector because we are still in a strong bull market that has been not only one of the longest on record, but also has seen the S&P 500 get to one of its lofty valuations ever.
Companies Reporting Before The Bell • Madison Square Garden (NYSEMSGE) is expected to report quarterly loss at $0.80 per share on revenue of $301.83 million.
Battery manufacturer EnerSys (NYSEENS) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 1.9% year on year to $883.7 million. On the other hand, next quarter’s revenue guidance of $940 million was less impressive, coming in 2% below analysts’ estimates. Its non-GAAP profit of $2.12 per share was 2.4% above analysts’ consensus estimates.
Oppenheimer analyst Noah Kaye downgrades EnerSys to Perform, citing concerns over revenue miss and weak Q4 guidance. Analyst Noah Kaye lowered revenue and EPS estimates.
