Enersys (ENS) SEC Filing 10-Q Quarterly report for the period ending Sunday, January 3, 2021


CIK: 1289308 Ticker: ENS

EnerSys Reports Third Quarter Fiscal 2021 Results 

Reading, PA, USA, February 10, 2021 – EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today results for its third quarter of fiscal 2021, which ended on January 3, 2021.

Third Quarter FY 21 Highlights
Net sales of $751M up 6% sequentially
Gross Profit Margins steady at 25%
Operating Expenses remain flexed
YTD Operating Cash Flow $272M
Operating earnings up YOY
Richmond fire claim settled
Credit facility leverage ratio remains near 2.0x
TPPL High Speed line in production

Key Results from Operations by Segments ($ in millions)
Q3 FY21Q3 FY20% Change
Energy Systems
Net Sales$337.2 $345.5 (2.4)%
Operating Earnings18.516.313.0 
Adjusted Operating Earnings *24.821.813.8 
Motive Power
Net Sales304.4315.5(3.5)
Operating Earnings40.230.830.3 
Adjusted Operating Earnings *40.531.528.6 
Net Sales109.5102.76.6 
Operating Earnings12.69.237.5 
Adjusted Operating Earnings *13.110.425.6 
* This is a non-GAAP financial measure. See “Reconciliation of Non-GAAP Financial Measures” for more information.

Message from the CEO
I remain humbled by our employees’ ability to deliver in these challenging times. We have continued to make excellent progress on our strategic initiatives and demand remained strong in our third quarter. Our as-adjusted $1.27 third quarter EPS benefited approximately $0.10 from our claim related to the September 2019 Richmond, KY fire while foreign currency losses created $0.03 in headwinds. Excluding the settlement and FX, we achieved the mid-point of our guidance provided in November. We are pleased that Richmond is increasing production beyond pre-fire levels to meet increased demand and, so far in the new calendar year, motive power and broadband orders are improving further while telecom and transportation orders remain strong. We entered our fourth quarter capacity constrained in several key factories as we manage through COVID related constraints, including staffing and suppliers meeting our higher demand. Although we are likely to remain capacity constrained in the near term, we expect to achieve between $1.25 and $1.31 per share in as-adjusted Q4 earnings as production output improves.

David M. Shaffer, President and Chief Executive Officer, EnerSys

The following information was filed by Enersys (ENS) on Wednesday, February 10, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Enersys's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Condensed Balance Sheets
Consolidated Condensed Balance Sheets (Parenthetical)
Consolidated Condensed Statements Of Cash Flows
Consolidated Condensed Statements Of Comprehensive Income
Consolidated Condensed Statements Of Income
- (Other Disclosures) (Details)
Acquisition (Tables)
Acquisitions - (Additional Information) (Detail)
Acquisitions - (Other Intangible Assets) (Details)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Basis Of Presentation - Allowance For Doubtful Accounts (Details)
Business Segments
Business Segments - (Details)
Business Segments - (Goodwill) (Details)
Business Segments Business Segments (Tables)
Commitments, Contingencies And Litigation
Commitments, Contingencies And Litigation - (Additional Information) (Details)
Debt (Tables)
Debt - (Additional Information) (Details)
Debt - (Long-Term Debt Including Capital Lease Obligations) (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - (Additional Information) (Details)
Derivative Financial Instruments - (Derivatives Designated As Cash Flow Hedges) (Details)
Derivative Financial Instruments - (Derivatives Not Designated As Hedging Instruments) (Details)
Derivative Financial Instruments - (Location And Amounts Of Derivative Fair Values) (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - (Reconciliation From Basic To Diluted Average Common Shares) (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - (Additional Information) (Details)
Fair Value Of Financial Instruments - (Carrying Amounts And Estimated Fair Values) (Details)
Fair Value Of Financial Instruments - (Financial Assets And Liabilities) (Details)
Income Taxes
Income Taxes - (Additional Information) (Details)
Inventories (Tables)
Inventories - (Details)
Leases (Tables)
Leases - (Additional Information Related To Leases) (Details)
Leases - (Additional Information) (Details)
Leases - (Balance Sheet Classification) (Details)
Leases - (Finance And Operating Lease Maturity Schedules) (Details)
Leases - (Lease Cost) (Details)
Leases - (Supplemental Cash Flow Information) (Details)
Restructuring Plans
Restructuring Plans (Tables)
Restructuring Plans - (Additional Information) (Details)
Restructuring Plans - (Roll-Forward Of Restructuring Reserve) (Details)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - (Net Periodic Benefit Cost) (Details)
Revenue Recognition
Revenue Recognition - (Additional Information) (Details)
Revenue Recognition - (Remaining Performance Obligation) (Details)
Stock-Based Compensation
Stock-Based Compensation - (Additional Information) (Details)
Stockholders' Equity And Noncontrolling Interests
Stockholders' Equity And Noncontrolling Interests (Tables)
Stockholders' Equity And Noncontrolling Interests - (Change In The Number Of Shares Of Common Stock Outstanding) (Details)
Stockholders' Equity And Noncontrolling Interests - (Components Of Accumulated Other Comprehensive Income) (Details)
Stockholders' Equity And Noncontrolling Interests - (Reclassifications From Aoci) (Details)
Stockholders' Equity And Noncontrolling Interests - (Treasury Stock) (Details)
Subsequent Events
Subsequent Events - (Details)
Warranty (Tables)
Warranty - (Analysis Of Changes In The Liability) (Details)

Material Contracts, Statements, Certifications & more

Enersys provided additional information to their SEC Filing as exhibits

Ticker: ENS
CIK: 1289308
Form Type: 10-Q Quarterly Report
Accession Number: 0001289308-21-000008
Submitted to the SEC: Wed Feb 10 2021 4:15:50 PM EST
Accepted by the SEC: Wed Feb 10 2021
Period: Sunday, January 3, 2021
Industry: Wholesale Electrical Apparatus And Equipment Wiring Supplies

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