Q4 2024 EnerSys Earnings Call Transcript
Key Points
- EnerSys (ENS) delivered strong adjusted earnings per share of $2.08 for the fourth quarter, at the high end of their guidance range.
- Revenue for the fourth quarter was $911 million, in line with expectations, supported by diversified end markets.
- EnerSys (ENS) achieved adjusted gross margin improvement and adjusted operating earnings growth versus the prior fourth quarter.
- The company saw healthy demand in most end markets, with overall company order rates up 4% year-over-year.
- EnerSys (ENS) made significant progress in strategic initiatives, including the development of a lithium ion cell gigafactory and the acquisition of Bren-Tronics.
- Revenue for the fiscal year 2024 was down 3% year-over-year, impacted by softness in telco broadband spending.
- Adjusted operating earnings for Energy Systems were down $12 million from the prior year, with adjusted operating margin decreasing by 180 basis points.
- Supply chain constraints continue to affect some material handling OEMs, leading to longer lead times for certain products.
- The company experienced a 6.9% decrease in volume for the fourth quarter, primarily due to temporary telecom broadband spending pauses.
- Adjusted operating margin for the fourth quarter, excluding IRA benefits, was 8%, down 110 basis points year-over-year.
Good day, and thank you for standing by. Welcome to the Fourth Quarter 2024 EnerSys Earnings Conference Call. (Operator Instructions) Please be advised today's conference is being recorded.
I would now like to turn the conference over to your speaker today, Lisa Hartman. Please go ahead.
Good morning, everyone. Thank you for joining us today to discuss EnerSys' fourth quarter and full year fiscal 2024 results. On the call with me today are David Shaffer, EnerSys' President and Chief Executive Officer; and Andrea Funk, EnerSys' Executive Vice President and Chief Financial Officer.
Last evening, we published our fourth quarter and fiscal year 2024 results, and filed our 10-K with the SEC, which are available on our website. We also posted slides that we will be referring during this call. The slides are available on the Presentations page within the Investor Relations section of our website.
As a reminder, we will be presenting forward-looking statements on this call that are subject to uncertainties
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