EnerSys Files 2024 10-K: A Look at Stored Energy Solutions

TL;DR

EnerSys 2024 10-K is in! Full year results and strategy details out now.

AI Summary

EnerSys, a global leader in stored energy solutions, filed its 10-K for the fiscal year ending March 31, 2024. The company reported significant financial results and discussed its operational strategies. Key financial highlights and future outlook were detailed in the filing, which provides a comprehensive overview of the company's performance and strategic direction.

Why It Matters

This filing provides investors and stakeholders with a detailed financial and operational overview of EnerSys, crucial for understanding the company's performance and future prospects in the energy storage market.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 2024-03-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-05-22 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• EnerSys (company) — Filer of the 10-K
• 2024-03-31 (date) — Fiscal year end date
• 2024-05-22 (date) — Filing date
• 2366 BERNVILLE ROAD, READING, PA 19605 (address) — Company's business and mailing address
• 001-32253 (other) — SEC file number

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share ENS New York Stock
• $208 m — re Bren-Tronics, Inc. for approximately $208 million, subject to adjustments. Bren-Tro

Filing Documents

• ens-20240331.htm (10-K) — 3223KB
• exhibit46_capitalxstockxfy.htm (EX-4.6) — 29KB
• exhibit191insidertradingpo.htm (EX-19.1) — 36KB
• exhibit211_4qxfy24.htm (EX-21.1) — 53KB
• exhibit231_4qxfy24.htm (EX-23.1) — 4KB
• exhibit311_4qxfy24.htm (EX-31.1) — 9KB
• exhibit312_4qxfy24.htm (EX-31.2) — 9KB
• exhibit321_4qxfy24.htm (EX-32.1) — 6KB
• exhibit971clawbackpolicy.htm (EX-97.1) — 36KB
• ens-20240331_g1.jpg (GRAPHIC) — 181KB
• 0001289308-24-000018.txt ( ) — 18135KB
• ens-20240331.xsd (EX-101.SCH) — 107KB
• ens-20240331_cal.xml (EX-101.CAL) — 141KB
• ens-20240331_def.xml (EX-101.DEF) — 550KB
• ens-20240331_lab.xml (EX-101.LAB) — 1272KB
• ens-20240331_pre.xml (EX-101.PRE) — 955KB
• ens-20240331_htm.xml (XML) — 3298KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 27

Cybersecurity

Item 1C. Cybersecurity 27

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30

Reserved

Item 6. Reserved 32

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 50

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 108

Controls and Procedures

Item 9A. Controls and Procedures 108

Other Information

Item 9B. Other Information 108

Disclosure regarding foreign jurisdictions that prevent inspections

Item 9C. Disclosure regarding foreign jurisdictions that prevent inspections 108 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 109

Executive Compensation

Item 11. Executive Compensation 109

Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters 109

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 109

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 110 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 111

Signatures

Signatures 115 5 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Overview EnerSys (the "Company," "we," or "us") is a world leader in stored energy solutions for industrial applications. We design, manufacture, and distribute energy systems solutions, and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures solutions to customers worldwide. Energy Systems, which combine power conversion, power distribution, energy storage, and thermally managed enclosures, are used in the telecommunication, broadband, data center, and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive Power batteries and chargers are utilized in electric forklift trucks, automated guided vehicles (AGVs), and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, large over the road trucks, premium automotive, and medical products. New Ventures provides energy storage and management systems for demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles. We also provide aftermarket and customer support services to over 10,000 customers in more than 100 countries through a network of distributors, independent representatives, and our internal sales force around the world. The Company's chief operating decision maker, or CODM (the Company's Chief Executive Officer), reviews financial information for purposes of assessing business performance and allocating resources, by focusing on the lines of business on a global basis. The Company identifies the following as its four operating segments, based on lines of business: Energy Systems - uninterruptible power systems, or "UPS" applications for computer and computer-controlled systems used in data centers, as well as telecommunications systems, switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy s

View Full Filing

View this 10-K filing on SEC EDGAR