EnerSys Reports Second Quarter Fiscal 2025 Results

Delivers Gross Margin of 28.5%, up 190 Basis Points From Prior Year



Second Quarter Fiscal 2025 Highlights

(All comparisons against the second quarter of fiscal year 2024 unless otherwise noted)

  • Delivered net sales of $884M, down 2%, with strength in Motive Power offset by continued pressure in Communications and Class 8 Transportation
  • Energy Systems improving with net sales +6% sequentially and backlog increasing for the second consecutive quarter
  • Achieved GM of 28.5%, +190 bps, including increased benefits from Inflation Reduction Act / IRC 45X tax credits, +60 bps ex IRA
  • Realized diluted EPS of $2.01, +29%, and adjusted diluted EPS(1) of $2.12, +15%
  • Net leverage ratio(a) 1.6 X EBITDA on operating cash flow of $34M
  • Selected for $199M Department of Energy award negotiation to partially fund EnerSys’ planned lithium-ion cell production facility in Greenville, SC
  • Published Climate Action Plan Roadmap, outlining Company’s strategic plans to achieve carbon neutrality goals
  • Announced planned executive succession; David Shaffer to retire as CEO, Shawn O’Connell named successor

READING, Pa.–(BUSINESS WIRE)–#EnerSysEnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today results for its second quarter of fiscal 2025, which ended on September 29, 2024.

Message from the CEO

In the second quarter, EnerSys delivered revenue and EPS which were in line with our guidance ranges and demonstrated our ability to generate strong and accelerating financial results in an uncertain market environment through our balanced business portfolio.

Energy Systems achieved sequential performance improvement, albeit with continued softness in Communications end markets, with the results of our optimization initiatives flowing through to the bottom line. We saw higher order trends in Communications and Data Centers in the Americas, providing optimism in the market recovery momentum. Motive Power delivered record Q2 adjusted operating earnings, with volumes and margins increasing versus the prior year on consistent customer demand in Logistics and Warehousing, and ongoing customer enthusiasm for our maintenance-free offerings.

Specialty enjoyed excellent A&D results supplemented by the accretive impact of the Bren-Tronics acquisition which expands our lithium portfolio and presence in the defense market. Integration and results are exceeding our expectations. Although we grew our U.S. Transportation aftermarket volume, we were not able to offset the sluggish Class 8 truck OEM demand. The installation of our new production lines in Missouri are on track and will deliver improved productivity, capacity, and flexibility when Transportation and Communications market demand returns to normalized levels. In New Ventures, we installed our first Fast Charge & Storage (FC&S) system in September.

We were very pleased to announce during the quarter that we were selected for a $199 million award negotiation from the Department of Energy to partially fund our planned lithium gigafactory, and that we have received formal approval from our Board to proceed with this important project. We are currently finalizing award negotiations and our construction plans, conducting an environmental study, completing our supply chain selections, and hiring for strategic positions.

While we expect that market uncertainty will persist through the coming months, we are confident our second half of the fiscal year is on track to outperform the first half. We are bullish about our strong position as a leading provider of energy storage solutions as we continue to deliver innovative products and services in growing end markets where the need for access to reliable power is increasing exponentially. We remain focused on delivering profitable long-term growth for our shareholders.

David M. Shaffer, Chief Executive Officer, EnerSys

Key Financial Results and Metrics

Second quarter ended

 

Six months ended

In millions, except per share amounts

September 29, 2024

 

October 1, 2023

 

Change

 

September 29, 2024

 

October 1, 2023

 

Change

Net Sales

$

883.7

 

$

901.0

 

 

(1.9

)%

 

$

1,736.6

 

$

1,809.6

 

 

(4.0

)%

Diluted EPS (GAAP)

$

2.01

 

$

1.56

 

$

0.45

 

 

$

3.72

 

$

3.17

 

$

0.55

 

Adjusted Diluted EPS (Non-GAAP)(1)

$

2.12

 

$

1.84

 

$

0.28

 

 

$

4.09

 

$

3.72

 

$

0.37

 

Gross Profit (GAAP)

$

252.1

 

$

239.6

 

$

12.5

 

 

$

490.5

 

$

479.9

 

$

10.6

 

Operating Earnings (GAAP)

$

99.4

 

$

88.6

 

$

10.8

 

 

$

190.7

 

$

178.0

 

$

12.7

 

Adjusted Operating Earnings (Non-GAAP)(2)

$

114.6

 

$

103.5

 

$

11.1

 

 

$

220.3

 

$

210.7

 

$

9.6

 

Net Earnings (GAAP)

$

82.3

 

$

65.2

 

$

17.1

 

 

$

152.4

 

$

132.0

 

$

20.4

 

EBITDA (Non-GAAP)(3)

$

122.0

 

$

108.2

 

$

13.8

 

 

$

235.8

 

$

219.5

 

$

16.3

 

Adjusted EBITDA (Non-GAAP)(3)

$

129.0

 

$

116.4

 

$

12.6

 

 

$

250.3

 

$

238.5

 

$

11.8

 

Share Repurchases

$

63.5

 

$

47.3

 

$

16.2

 

 

$

75.1

 

$

47.3

 

$

27.8

 

Dividend per share

$

0.24

 

$

0.225

 

$

0.02

 

 

$

0.465

 

$

0.40

 

$

0.07

 

Total Capital Returned to Stockholders

$

73.1

 

$

56.5

 

$

16.6

 

 

$

93.8

 

$

63.7

 

$

30.1

 

(a) Net leverage ratio is a non-GAAP financial measure as defined pursuant to our credit agreement and discussed under Reconciliations of GAAP to Non-GAAP Financial Measures.

(1) Adjusted Diluted EPS is a non-GAAP financial measure and discussed under Reconciliations of GAAP to Non-GAAP Financial Measures.

(2) Operating Earnings are adjusted for charges that the Company incurs as a result of restructuring and exit activities, impairment of goodwill and indefinite-lived intangibles and other assets, acquisition activities and those charges and credits that are not directly related to operating unit performance. A reconciliation of operating earnings to Non-GAAP Adjusted Earnings are provided in tables under the section titled Business Segment Operating Results.

(3) Non-GAAP EBITDA is calculated as net earnings adjusted for depreciation, amortization, interest and income taxes. Non-GAAP Adjusted EBITDA is further adjusted for certain charges such as restructuring and exit activities, impairment of goodwill and indefinite-lived intangibles and other assets, acquisition activities and other charges and credits as discussed under Reconciliations of GAAP to Non-GAAP Financial Measures.

Summary of Results

Second Quarter 2025

Net sales for the second quarter of fiscal 2025 were $883.7 million, a decrease of 1.9% from the prior year second quarter net sales of $901.0 million, and in the range of the second quarter of fiscal 2025 guidance of $880 million to $920 million. The decrease compared to prior year quarter was the result of a 3% decrease in organic volume, a 1% decrease in pricing, partially offset by a 2% increase in acquisitions.

Net earnings attributable to EnerSys stockholders (“Net earnings”) for the second quarter of fiscal 2025 was $82.3 million, or $2.01 per diluted share, which included an unfavorable highlighted net of tax impact of $4.2 million, or $0.11 per diluted share, from highlighted items described in further detail in the tables shown below, reconciling non-GAAP adjusted financial measures to reported amounts.

Net earnings for the second quarter of fiscal 2024 was $65.2 million, or $1.56 per diluted share, which included an unfavorable highlighted net of tax impact of $11.3 million, or $0.28 per diluted share, from highlighted items described in further detail in the tables shown below, reconciling non-GAAP adjusted financial measures to reported amounts.

Excluding these highlighted items, adjusted Net earnings per diluted share for the second quarter of fiscal 2025, on a non-GAAP basis, were $2.12, compared to the guidance of $2.05 to $2.15 per diluted share for the second quarter given by the Company on August 7, 2024. These earnings compare to the prior year second quarter adjusted Net earnings of $1.84 per diluted share. Please refer to the section included herein under the heading “Reconciliations of GAAP to Non-GAAP Financial Measures” for a discussion of the Company’s use of non-GAAP adjusted financial information, which includes tables reconciling GAAP and non-GAAP adjusted financial measures for the quarters ended September 29, 2024 and October 1, 2023.

Fiscal Year to Date 2025

Net sales for the six months of fiscal 2025 were $1,736.6 million, a decrease of 4.0% from the prior year six months net sales of $1,809.6 million. This decrease was due to a 3% decrease in organic volume, a 1% decrease in pricing, and a 1% decrease in foreign currency translation, partially offset by a 1% increase in acquisitions.

Net earnings for the six months of fiscal 2025 was $152.4 million, or $3.72 per diluted share, which included an unfavorable highlighted net of tax impact of $15.0 million, or $0.37 per diluted share, from highlighted items described in further detail in the tables shown below, reconciling non-GAAP adjusted financial measures to reported amounts.

Net earnings for the six months of fiscal 2024 was $132.0 million, or $3.17 per diluted share, which included an unfavorable highlighted net of tax impact of $23.1 million, or $0.55 per diluted share, from highlighted items described in further detail in the tables shown below, reconciling non-GAAP adjusted financial measures to reported amounts.

Adjusted Net earnings per diluted share for the six months of fiscal 2025, on a non-GAAP basis, were $4.09. This compares to the prior year six months adjusted Net earnings of $3.72 per diluted share. Please refer to the section included herein under the heading “Reconciliations of GAAP to Non-GAAP Financial Measures” for a discussion of the Company’s use of non-GAAP adjusted financial information.

Quarterly Dividend

The company announced today that its Board of Directors has declared a quarterly cash dividend of $0.24 per share of common stock payable on December 27, 2024, to holders of record as of December 13, 2024.

Balance Sheet and Cash Flow

As of September 29, 2024, cash and cash equivalents were $407.9 million and net debt was $839.6 million. The net leverage ratio at the end of the second quarter was 1.6 X, up from 1.4 X in the prior year period. Capital expenditures during the second quarter were $30.4 million, up from $19.8 million in the prior year period, driven by investments in plant improvements. During the second quarter, cash from operating activities was $33.6 million and free cash flow was $3.2 million.

The Company also returned approximately $73.1 million to shareholders through $63.5 million in share repurchases and $9.6 million through its quarterly dividend payment in the second quarter.

Third Quarter and Full Year 2025 Outlook

In the third quarter of fiscal 2025, EnerSys expects:

  • Net sales in the range of $920M to $960M
  • Adjusted diluted earnings per share in the range of $2.20 to $2.30*

For the full year fiscal 2025, EnerSys expects:

  • Net sales in the range of $3,675 to $3,765M, down from prior guidance of $3,735M to $3,885M
  • Adjusted diluted earnings per share in the range of $8.75 to $9.05*, down from prior guidance of $8.80 to $9.20*
  • Capital expenditures in the range of $100M to $120M

While we are seeing encouraging demand trends in the majority of our end markets, including improving order rates in the Communications and Data Center markets and stable trends in our Motive Power and A&D businesses, we are managing our business prudently to navigate the continued spending pause in the Class 8 truck OEM market and near-term macro uncertainty. We are excited about our progress in New Ventures, delivering our first Fast Charge and Storage (FC&S) system at the end of the second quarter, but deployment schedules have been pushed out due to installation and site readiness challenges. As a result, we are modestly lowering our revenue range for our full year fiscal 2025. As we enter the second half of the year, we expect the profitability of our baseline business to deliver accelerating returns, driven by improving volumes, favorable product mix, the accretive contribution of Bren-Tronics, continued cost improvements, and benefits from operational efficiencies flowing through to our bottom line. We are excited to advance the next phase of our lithium-ion gigafactory in Greenville and expect to incur modest related non-capitalizable expenses in the second half of the year as we move forward with this strategic project. As a result, we are slightly lowering the mid-point of our full year fiscal 2025 adjusted diluted earnings per share guidance by $0.10 to account for these increased expenditures. We believe the global concern over energy scarcity will persist as major trends drive a swift rise in the demand for reliable power. As a key provider of energy systems and storage solutions, EnerSys is well-positioned to take advantage of this growth opportunity. We remain focused on delivering long-term value to our stockholders,” said Andrea Funk, EnerSys Chief Financial Officer.

*Inclusive of IRC 45X tax benefits created with the IRA.

Please refer to the section included herein under the heading “Reconciliations of GAAP to Non-GAAP Financial Measures” for a discussion of the Company’s use of non-GAAP adjusted financial information.

Conference Call and Webcast Details

The Company will host a conference call to discuss its second quarter results at 9:00 AM (ET) Thursday, November 7, 2024. A live broadcast as well as a replay of the call can be accessed via https://edge.media-server.com/mmc/p/2h25g7rf/ or the Investor Relations section of the company’s website at https://investor.enersys.com.

To join the live call, please register at https://register.vevent.com/register/BI1012cc0b2b4144b9b4ee866d5476e344. A dial-in and unique PIN will be provided upon registration.

About EnerSys

EnerSys is the global leader in stored energy solutions for industrial applications and designs, manufactures, and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. The company goes to market through four lines of business: Energy Systems, Motive Power, Specialty and New Ventures. Energy Systems, which combine power conversion, power distribution, energy storage, and enclosures, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions. Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles. Specialty batteries are used in aerospace and defense applications, portable power solutions for soldiers in the field, large over-the-road trucks, premium automotive, medical and security systems applications. New Ventures provides energy storage and management systems for various applications including demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. To learn more about EnerSys please visit https://www.enersys.com/en/

Sustainability

Sustainability at EnerSys is about more than just the benefits and impacts of our products. Our commitment to sustainability encompasses many important environmental, social and governance issues. Sustainability is a fundamental part of how we manage our own operations. Minimizing our environmental footprint is a priority. Sustainability is our commitment to our employees, our customers and the communities we serve. Our products facilitate positive environmental, social, and economic impacts around the world. To learn more visit: https://www.enersys.com/en/about-us/sustainability/.

Caution Concerning Forward-Looking Statements

This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys’ earnings estimates, intention to pay quarterly cash dividends, return capital to stockholders, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, order intake, backlog, payment of future cash dividends, commodity prices, execution of its stock buyback program, judicial or regulatory proceedings, ability to identify and realize benefits in connection with acquisition and disposition opportunities, and market share, as well as statements expressing optimism or pessimism about future operating results or benefits from its cash dividend, its stock buyback programs, application of Section 45X of the Internal Revenue Code, future responses to and effects of the pandemic, adverse developments with respect to the economic conditions in the U.S. in the markets in which we operate and other uncertainties, including the impact of supply chain disruptions, interest rate changes, inflationary pressures, geopolitical and other developments and labor shortages on the economic recovery and our business are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond the Company’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys’ results, including earnings estimates, see EnerSys’ filings with the Securities and Exchange Commission, including “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Forward-Looking Statements,” set forth in EnerSys’ Annual Report on Form 10-K for the fiscal year ended March 31, 2024. No undue reliance should be placed on any forward-looking statements. 

 

EnerSys

Consolidated Condensed Statements of Income (Unaudited)

(In millions, except share and per share data)

 

 

Quarter ended

 

Six months ended

 

September 29, 2024

 

October 1, 2023

 

September 29, 2024

 

October 1, 2023

Net sales

$

883.7

 

$

901.0

 

$

1,736.6

 

$

1,809.6

Gross profit

 

252.1

 

$

239.6

 

$

490.5

 

$

479.9

Operating expenses

 

150.5

 

$

143.8

 

$

291.7

 

$

288.4

Restructuring and other exit charges

 

2.2

 

$

7.2

 

$

8.1

 

$

13.5

Operating earnings

 

99.4

 

$

88.6

 

$

190.7

 

$

178.0

Earnings before income taxes

 

84.2

 

$

73.4

 

$

163.5

 

$

146.9

Income tax expense

 

1.9

 

$

8.2

 

$

11.1

 

$

14.9

Net earnings attributable to EnerSys stockholders

$

82.3

 

$

65.2

 

$

152.4

 

$

132.0

 

 

 

 

 

 

 

 

Net reported earnings per common share attributable to EnerSys stockholders:

 

 

 

 

 

 

 

Basic

$

2.05

 

$

1.59

 

$

3.79

 

$

3.23

Diluted

$

2.01

 

$

1.56

 

$

3.72

 

$

3.17

Dividends per common share

$

0.24

 

$

0.225

 

$

0.465

 

$

0.40

Weighted-average number of common shares used in reported earnings per share calculations:

 

 

 

 

 

 

 

Basic

 

40,165,080

 

 

40,922,959

 

 

40,184,546

 

 

40,930,146

Diluted

 

40,863,205

 

 

41,684,634

 

 

40,924,660

 

 

41,691,479

 

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

 

$

3,951,032

 

 

$

3,466,006

 

 

EnerSys

Consolidated Condensed Statements of Cash Flows (Unaudited)

(In Thousands)

 

 

 

Six months ended

 

 

September 29, 2024

 

October 1, 2023

Cash flows from operating activities

 

 

 

 

Net earnings

 

$

152,377

 

 

$

132,026

 

Adjustments to reconcile net earnings to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

48,757

 

 

 

45,214

 

Write-off of assets relating to exit activities

 

 

244

 

 

 

4,146

 

Derivatives not designated in hedging relationships:

 

 

 

 

Net losses (gains)

 

 

(1,783

)

 

 

1,204

 

Cash (settlements) proceeds

 

 

1,320

 

 

 

695

 

Provision for doubtful accounts

 

 

1,124

 

 

 

1,456

 

Deferred income taxes

 

 

114

 

 

 

46

 

Non-cash interest expense

 

 

969

 

 

 

820

 

Stock-based compensation

 

 

12,187

 

 

 

13,077

 

(Gain) loss on disposal of property, plant, and equipment

 

 

64

 

 

 

158

 

Changes in assets and liabilities:

 

 

 

 

Accounts receivable

 

 

(9,323

)

 

 

93,368

 

Inventories

 

 

(12,401

)

 

 

10,529

 

Prepaid and other current assets

 

 

(26,201

)

 

 

(13,891

)

Other assets

 

 

968

 

 

 

(1,306

)

Accounts payable

 

 

(40,104

)

 

 

(57,233

)

Accrued expenses

 

 

(83,963

)

 

 

(44,803

)

Other liabilities

 

 

(303

)

 

 

217

 

Net cash provided by (used in) operating activities

 

 

44,046

 

 

 

185,723

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

Capital expenditures

 

 

(66,486

)

 

 

(35,854

)

Purchase of business

 

 

(205,276

)

 

 

(8,270

)

Proceeds from disposal of property, plant, and equipment

 

 

89

 

 

 

2,007

 

Investment in Equity Securities

 

 

(10,852

)

 

 

 

Net cash (used in) provided by investing activities

 

 

(282,525

)

 

 

(42,117

)

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

Net (repayments) borrowings on short-term debt

 

 

(434

)

 

 

(61

)

Proceeds from Second Amended Revolver borrowings

 

 

476,600

 

 

 

172,500

 

Repayments of Second Amended Revolver borrowings

 

 

(76,600

)

 

 

(252,500

)

Repayments of Second and Third Amended Term Loans

 

 

 

 

 

(12,736

)

Finance lease obligations

 

 

(8

)

 

 

 

Option proceeds, net

 

 

7,445

 

 

 

9,668

 

Payment of taxes related to net share settlement of equity awards

 

 

(7,984

)

 

 

(7,348

)

Purchase of treasury stock

 

 

(75,187

)

 

 

(47,340

)

Issuance of treasury stock- ESPP

 

 

537

 

 

 

 

Dividends paid to stockholders

 

 

(18,598

)

 

 

(16,341

)

PPD Deferred Financing on Bond Issue-Legal Fees

 

 

(351

)

 

 

 

Other

 

 

(166

)

 

 

690

 

Net cash (used in) financing activities

 

 

305,254

 

 

 

(153,468

)

Effect of exchange rate changes on cash and cash equivalents

 

 

7,820

 

 

 

(9,052

)

Net decrease in cash and cash equivalents

 

 

74,595

 

 

 

(18,914

)

Cash and cash equivalents at beginning of period

 

 

333,324

 

 

 

346,665

 

Cash and cash equivalents at end of period

 

$

407,919

 

 

$

327,751

 

 

 

 

 

 

Contacts

Lisa Hartman
Vice President, Investor Relations and Corporate Communications

EnerSys

610-236-4040

E-mail: investorrelations@enersys.com

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