Battery manufacturer EnerSys (NYSE: ENS) will be announcing earnings results this Wednesday after market close. Here’s what to expect.
EnerSys met analysts’ revenue expectations last quarter, reporting revenues of $974.8 million, up 7% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but EPS guidance for next quarter missing analysts’ expectations significantly.
Is EnerSys a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting EnerSys’s revenue to be flat year on year at $848.1 million, improving from the 6.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.05 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. EnerSys has missed Wall Street’s revenue estimates six times over the last two years.
Looking at EnerSys’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3.4%, and American Superconductor reported revenues up 79.6%, topping estimates by 11.4%. Generac traded up 28.9% following the results while American Superconductor was also up 29.4%.
Read our full analysis of Generac’s results here and American Superconductor’s results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. EnerSys is up 2.9% during the same time and is heading into earnings with an average analyst price target of $105.36 (compared to the current share price of $90.75).
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