EnerSys® Reports Second Quarter Fiscal 2025 Results
READING, Pa.--(BUSINESS WIRE)--Nov. 06, 2024
EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced results for its second quarter of fiscal 2025, which ended on September 29, 2024.
Delivers Gross Margin of 28.5%, up 190 Basis Points From Prior Year
Second Quarter Fiscal 2025 Highlights
(All comparisons against the second quarter of fiscal year 2024 unless otherwise noted)
- Delivered net sales of $884M, down 2%, with strength in Motive Power offset by continued pressure in Communications and Class 8 Transportation
- Energy Systems improving with net sales +6% sequentially and backlog increasing for the second consecutive quarter
- Achieved GM of 28.5%, +190 bps, including increased benefits from Inflation Reduction Act / IRC 45X tax credits, +60 bps ex IRA
- Realized diluted EPS of $2.01, +29%, and adjusted diluted EPS(1) of $2.12, +15%
- Net leverage ratio(a) 1.6 X EBITDA on operating cash flow of $34M
- Selected for $199M Department of Energy award negotiation to partially fund EnerSys’ planned lithium-ion cell production facility in Greenville, SC
- Published Climate Action Plan Roadmap, outlining Company's strategic plans to achieve carbon neutrality goals
- Announced planned executive succession; David Shaffer to retire as CEO, Shawn O’Connell named successor