Battery manufacturer EnerSys (NYSE: ENS) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.
EnerSys missed analysts’ revenue expectations last quarter, reporting revenues of $919.1 million, up 1.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is EnerSys a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting EnerSys’s revenue to be flat year on year, slowing from the 7% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at EnerSys’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Shoals reported revenues up 74.9%, topping estimates by 8.7%. Bloom Energy traded up 27.2% following the results while Shoals’s stock price was unchanged.
Read our full analysis of Bloom Energy’s results here and Shoals’s results here.
Investors in the renewable energy segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. EnerSys is up 13.8% during the same time and is heading into earnings with an average analyst price target of $199.89 (compared to the current share price of $227.54).
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