Battery manufacturer EnerSys (NYSE: ENS) will be announcing earnings results this Wednesday afternoon. Here’s what you need to know.
EnerSys beat analysts’ revenue expectations last quarter, reporting revenues of $988 million, up 1.4% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and EPS guidance for next quarter exceeding analysts’ expectations.
Is EnerSys a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting EnerSys’s revenue to grow 3.9% year on year, in line with the 4.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. EnerSys has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at EnerSys’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 166%, beating analysts’ expectations by 27.7%, and Sunrun reported revenues up 52.8%, topping estimates by 19.2%. Bloom Energy traded down 1.9% following the results while Sunrun was also down 9.4%.
Read our full analysis of Bloom Energy’s results here and Sunrun’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 2.6% on average over the last month. EnerSys is down 7.1% during the same time and is heading into earnings with an average analyst price target of $252.58 (compared to the current share price of $186.72).
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