Enersys Q1 Earnings Surpass Estimates, Sales Miss

Enersys (NYSE: ENS) reported first-quarter fiscal 2025 (ended Jun 30, 2024) adjusted earnings of $1.98 per share, which surpassed the Zacks Consensus Estimate of $1.97. The bottom line increased 5% year over year due to lower operating expenses.Enersys’ net sales of $852.9 million missed the consensus estimate of $878 million. The top line declined 6% year over year due to temporary spending pauses in telecom and broadband. While organic sales decreased 3%, price/mix and foreign currency translation had adverse impacts of 2% and 1%, respectively, on sales.Segmental DiscussionThe Energy Systems segment’s sales (accounting for 42.3% of total sales) were $361 million, down 15% year over year. The Zacks Consensus Estimate for segmental net sales was $372 million. Net sales decreased due to capital spending pauses of telecommunication and broadband customers. While organic sales decreased 11%, price/mix and foreign currency translation had an adverse impacts of 3% and 1%, respectively, on sales.The Motive Power segment generated net sales of $366.2 million (accounting for 43% of total sales), up 4% year over year.

The consensus estimate for segmental net sales was $366 million. The upside was driven by a 6% increase in organic volume, partially offset by a 1% unfavorable impact each from price/mix and foreign currency …Full story available on Benzinga.com