EnerSys (ENS) Q3 Earnings: What To Expect

Battery manufacturer EnerSys (NYSE:ENS) will be reporting results this Wednesday after market hours. Here’s what investors should know.

EnerSys beat analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $893 million, up 4.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ sales volume 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, analysts are expecting EnerSys’s revenue to be flat year on year at $890.3 million, improving from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.35 per share.

Analysts covering the company have generally 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 five times over the last two years.

Looking at EnerSys’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 57.1%, beating analysts’ expectations by 22.8%, and Enphase reported revenues up 7.8%, topping estimates by 12%. Bloom Energy traded up 18% following the results while Enphase was down 15.3%.

Read our full analysis of Bloom Energy’s results here and Enphase’s results here.

Investors in the renewable energy segment have had steady hands going into earnings, with share prices flat over the last month. EnerSys is up 8.3% during the same time and is heading into earnings with an average analyst price target of $120 (compared to the current share price of $125.62).

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