Last $60.82 USD
Change Today +0.69 / 1.15%
Volume 120.3K
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As of 3:48 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

enersys (ENS) Key Developments

EnerSys Mulls Acquisitions

EnerSys (NYSE:ENS) is seeking acquisitions. John Craig, Chairman, President and Chief Executive Officer of EnerSys said, "We need to continue to be aggressive on the acquisition front but always keep in mind that we are not going to buy for the sake of buying."

EnerSys Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended September 28, 2014; Provides Earnings Guidance Third Quarter and Full Year of Fiscal 2015

EnerSys reported unaudited earnings results for the second quarter and six months ended September 28, 2014. For the quarter, the company reported net earnings attributable to the company's stockholders of $56.3 million, or $1.16 per diluted share, including a favorable highlighted net of tax impact of $0.10 per share from a legal accrual reversal, net of professional fees of $9.9 million and gain of $2.0 million in connection with the disposition of equity interest in Altergy, pursuant to previously announced legal settlement, offset by charges of $1.4 million for restructuring and other exit costs, $5.3 million for stock-based compensation of senior executives, $0.5 million for ERP system implementation and $0.1 million for fees related to acquisition activities. The Net earnings compares to $41.4 million or $0.84 for the second quarter of fiscal 2014, which included an unfavorable highlighted net of tax charges of $0.8 million for restructuring plans and $0.8 million for fees related to acquisition related activities. Net sales for the second quarter of fiscal 2015 were $629.9 million, an 11% increase from the prior year second quarter net sales of $568.8 million primarily from organic growth and recent acquisitions. Sequential quarterly sales decreased 1% from the first quarter of fiscal 2015 net sales of $634.1 million primarily due to foreign currency translation impact. Operating earnings were at $80.0 million against $61.0 million reported last year. Earnings before income taxes was $79.1 million against $56.4 million reported last year. Non-GAAP adjusted net earnings were at $51.7 million or $1.06 per diluted share against $43.0 million or $0.87 per diluted share reported last year. Net earnings for the six months of fiscal 2015 were $105.5 million, or $2.15 per diluted share, including a favorable net of tax impact of $0.07 per share from a legal accrual reversal, net of professional fees of $9.9 million and gain of $2.0 million in connection with the disposition of equity interest in Altergy, pursuant to previously announced legal settlement, offset by charges of $2.7 million for restructuring and other exit costs, $5.3 million for stock-based compensation of senior executives, $0.5 million for ERP system implementation and $0.3 million for fees related to acquisition activities. Net earnings for the six months of fiscal 2014 were $82.2 million, or $1.67 per diluted share, including an unfavorable net of tax impact of $0.03 per share from charges of $1.1 million for restructuring plans and $0.8 million for fees related to acquisition activities. Total operating earnings were $151.7 million compared to $123.6 million reported a year ago. Earnings before income taxes were $144.9 million compared to $112.4 million reported a year ago. Net sales for the six months of fiscal 2015 were $1,264.0 million, an increase of 8% from the net sales of $1,166.1 million in the comparable period in fiscal 2014. The 8% increase was the result of a 6% increase from acquisitions and a 2% increase in organic volume. Non-GAAP adjusted net earnings were at $102.4 million or $2.08 per diluted share against $84.1 million or $1.70 per diluted share reported last year. The company provided third quarter 2015 guidance for non-GAAP adjusted net earnings per diluted share of $1.04 to $1.08, which excludes an expected net charge of $0.10 per diluted share from ongoing restructuring programs, acquisition expenses and other highlighted items. The company expects tax rate for the third quarter of fiscal 2015 will be between 26% and 28%. The company anticipates gross profit rate in third fiscal quarter to be between 25% and 26%. For the full year, company expects 25% to 26% rate on as adjusted earnings.

EnerSys Declares Quarterly Cash Dividend, Payable on December 26, 2014

EnerSys announced its board of directors has declared a quarterly cash dividend of $0.175 per share of common stock payable on December 26, 2014 to holders of record as of December 12, 2014.

EnerSys, Q2 2015 Earnings Call, Nov 06, 2014

EnerSys, Q2 2015 Earnings Call, Nov 06, 2014

EnerSys Announces Executive Changes

John D. Craig of EnerSys announced that he will be stepping down from his position of President effective November 1, 2014, but will remain with the company as Chairman and Chief Executive Officer. With this move, Dave M. Shaffer has been appointed to the newly created position of President and Chief Operating Officer. Mr. Shaffer is currently serving as President of the company's Europe, Middle East and Africa business and prior to that was President of the company's Asia business. Mr. Shaffer will continue to report to Mr. Craig.

 

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ENS

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Valuation ENS Industry Range
Price/Earnings 17.2x
Price/Sales 1.1x
Price/Book 2.3x
Price/Cash Flow 15.7x
TEV/Sales 0.8x
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