Stock Story -
Battery manufacturer EnerSys (NYSE:ENS) will be reporting earnings tomorrow after market hours. Here's what investors should know.
EnerSys beat analysts' revenue expectations by 2% last quarter, reporting revenues of $910.7 million, down 8% year on year. It was a strong quarter for the company, with an impressive beat of analysts' volume estimates and a decent beat of analysts' earnings estimates.
Is EnerSys a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting EnerSys's revenue to decline 3.5% year on year to $876.4 million, a reversal from the 1.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.95 per share.
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 four times over the last two years.
Looking at EnerSys's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nextracker delivered year-on-year revenue growth of 50.1%, beating analysts' expectations by 16.8%, and Generac reported flat revenue, in line with consensus estimates. Nextracker traded down 10.3% following the results while Generac was also down 6.4%.
Read the full analysis of Nextracker's and Generac's results on StockStory.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. EnerSys is down 3.2% during the same time and is heading into earnings with an average analyst price target of $125.9 (compared to the current share price of $97.37).
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