EnerSys Files Q2 Fiscal 2025 10-Q Report

TL;DR

EnerSys Q2 FY25 10-Q filed. Financials look steady.

AI Summary

EnerSys filed its 10-Q for the period ending September 29, 2024, reporting on its financial performance. The company's fiscal year ends on March 31st, and this filing covers the second quarter of fiscal year 2025. Key financial details and operational updates are provided within the report.

Why It Matters

This filing provides investors and stakeholders with a crucial update on EnerSys's financial health and operational performance for the second quarter of fiscal year 2025, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant negative news.

Key Numbers

• Q2 — Fiscal Quarter (Second quarter of fiscal year 2025)
• 0331 — Fiscal Year End (EnerSys's fiscal year concludes on March 31st)

Key Players & Entities

• EnerSys (company) — Filer of the 10-Q report
• 2024-09-29 (date) — End of the reporting period
• 2024-11-06 (date) — Date of filing
• 2366 BERNVILLE ROAD (address) — Company's business and mailing address
• READING, PA 19605 (address) — Company's business and mailing address
• 001-32253 (company_id) — SEC file number for EnerSys

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share ENS New York Stock

Filing Documents

• ens-20240929.htm (10-Q) — 2045KB
• ens-exhibit311_2qxfy25.htm (EX-31.1) — 11KB
• ens-exhibit312_2qxfy25.htm (EX-31.2) — 11KB
• ens-exhibit321_2qxfy25.htm (EX-32.1) — 6KB
• 0001289308-24-000041.txt ( ) — 9844KB
• ens-20240929.xsd (EX-101.SCH) — 58KB
• ens-20240929_cal.xml (EX-101.CAL) — 83KB
• ens-20240929_def.xml (EX-101.DEF) — 372KB
• ens-20240929_lab.xml (EX-101.LAB) — 659KB
• ens-20240929_pre.xml (EX-101.PRE) — 532KB
• ens-20240929_htm.xml (XML) — 1655KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Consolidated Condensed Balance Sheets (Unaudited) as of Se ptember 29 , 2024 and March 31, 202 4 3 Consolidated Condensed Statements of Income (Unaudited) for the Quarters Ended September 29 , 2024 and October 1, 2023 4 Consolidated Condensed Statements of Income (Unaudited) for the Six Months Ended Se ptember 29, 202 4 and October 1, 2023 5 Consolidated Condensed Statements of Comprehensive Income (Unaudited) for the Quarters and Six Months Ended September 29, 2024 and October 1, 2023 6 Consolidated Condensed Statements of Cash Flows (Unaudited) for the Six Months Ended September 29, 2024 and October 1, 2023 7 Notes to Consolidated Condensed Financial Statements (Unaudited) 8 1 Basis of Presentation 8 2 Acquisition 9 3 Revenue Recognition 10 4 Accounts Receivable 11 5 Goodwill and Other Intangible Assets 11 6 Inventories 12 7 Fair Value of Financial Instruments 12 8 Derivative Financial Instruments 14 9 Income Taxes 18 10 Warranty 19 11 Commitments, Contingencies and Litigation 19 12 Restructuring and Other Exit Charges 19 13 Debt 22 14 Retirement Plans 25 15 Stock-Based Compensation 25 16 Stockholders' Equity and Noncontrolling Interests 26 17 Earnings Per Share 31 18 Business Segments 32 19 Subsequent Events 32

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 49

Controls and Procedures

Item 4. Controls and Procedures 51

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 52

Risk Factors

Item 1A. Risk Factors 52

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 53

Other Information

Item 5. Other Information 53

Exhibits

Item 6. Exhibits 54

SIGNATURES

SIGNATURES 55 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS EnerSys Consolidated Condensed Balance Sheets (Unaudited) (In Thousands, Except Share and Per Share Data) September 29, 2024 March 31, 2024 Assets Current assets: Cash and cash equivalents $ 407,919 $ 333,324 Accounts receivable, net of allowance for doubtful accounts: September 29, 2024 - $ 8,808 ; March 31, 2024 - $ 8,107 549,011 524,725 Inventories, net 763,516 697,698 Prepaid and other current assets 335,923 226,949 Total current assets 2,056,369 1,782,696 Property, plant, and equipment, net 582,298 532,450 Goodwill 738,603 682,934 Other intangible assets, net 395,411 319,407 Deferred taxes 55,090 49,798 Other assets 123,261 98,721 Total assets $ 3,951,032 $ 3,466,006 Liabilities and Equity Current liabilities: Short-term debt $ 30,080 $ 30,444 Accounts payable 333,671 369,456 Accrued expenses 328,687 323,957 Total current liabilities 692,438 723,857 Long-term debt, net of unamortized debt issuance costs 1,202,583 801,965 Deferred taxes 34,836 30,583 Other liabilities 179,579 152,529 Total liabilities 2,109,436 1,708,934 Commitments and contingencies Equity: Preferred Stock, $ 0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding at September 29, 2024 and at March 31, 2024 — — Common Stock, $ 0.01 par value per share, 135,000,000 shares authorized, 56,680,568 shares issued and 39,813,904 shares outstanding at September 29, 2024; 56,363,924 shares issued and 40,271,936 shares outstanding at March 31, 2024 567 564 Additional paid-in capital 644,162 629,879 Treasury stock at cost, 16,866,664 shares held as of September 29, 2024 and 16,091,988 shares held as of March 31, 2024 ( 910,650 ) ( 835,827 ) Retained earnings 2,297,431 2,163,880 Accumulated other comprehensive loss ( 193,443 ) ( 204,851 ) Total EnerSys stockholders' equity 1,838,067 1,753,645 Nonredeemable noncontrolling interests 3,529 3,427 Total equity 1,841,596 1,757,072 Total liabilities and equity $ 3,951,

View Full Filing

View this 10-Q filing on SEC EDGAR