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10-Q Filing

EnerSys CIK: 1289308 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001289308-23-000038
Period End Date 20230630
Filing Date 20230809
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance ens-20230702_htm.xml
Filing Contents
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $9.03M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $8.78M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 1.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $258.34M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $346.67M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts: July 2, 2023 - $9,033; March 31, 2023 - $8,775 AccountsReceivableNetCurrent $566.50M USD Point-in-time
Preferred stock, shares, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts: July 2, 2023 - $9,033; March 31, 2023 - $8,775 AccountsReceivableNetCurrent $637.82M USD Point-in-time
Preferred stock, shares, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, shares, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories, net InventoryNet $797.80M USD Point-in-time
Inventories, net InventoryNet $809.40M USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $118.80M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $113.60M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Total current assets AssetsCurrent $1.75B USD Point-in-time
Total current assets AssetsCurrent $1.90B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 135.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 135.00M shares Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $512.97M USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $513.28M USD Point-in-time
Common stock, shares, issued (in shares) CommonStockSharesIssued 56.13M shares Point-in-time
Common stock, shares, issued (in shares) CommonStockSharesIssued 56.00M shares Point-in-time
Goodwill Goodwill $676.72M USD Point-in-time
Goodwill Goodwill $688.44M USD Point-in-time
Common stock, shares, outstanding (in shares) CommonStockSharesOutstanding 41.03M shares Point-in-time
Common stock, shares, outstanding (in shares) CommonStockSharesOutstanding 40.90M shares Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $360.41M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 15.10M shares Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $354.66M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockCommonShares 15.10M shares Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $49.15M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $49.15M USD Point-in-time
Other assets OtherAssetsNoncurrent $121.23M USD Point-in-time
Other assets OtherAssetsNoncurrent $122.70M USD Point-in-time
Total assets Assets $3.62B USD Point-in-time
Total assets Assets $3.48B USD Point-in-time
Short-term debt ShortTermBorrowings $30.64M USD Point-in-time
Short-term debt ShortTermBorrowings $30.96M USD Point-in-time
Accounts payable AccountsPayableCurrent $343.34M USD Point-in-time
Accounts payable AccountsPayableCurrent $378.64M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $261.35M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $309.04M USD Point-in-time
Total current liabilities LiabilitiesCurrent $718.32M USD Point-in-time
Total current liabilities LiabilitiesCurrent $635.65M USD Point-in-time
Long-term debt, net of unamortized debt issuance costs LongTermDebtNoncurrent $1.04B USD Point-in-time
Long-term debt, net of unamortized debt issuance costs LongTermDebtNoncurrent $907.77M USD Point-in-time
Deferred taxes DeferredIncomeTaxLiabilitiesNet $61.12M USD Point-in-time
Deferred taxes DeferredIncomeTaxLiabilitiesNet $60.77M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $191.37M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $193.61M USD Point-in-time
Total liabilities Liabilities $2.01B USD Point-in-time
Total liabilities Liabilities $1.80B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Preferred Stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding at July 2, 2023 and at March 31, 2023 PreferredStockValue - USD Point-in-time
Preferred Stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding at July 2, 2023 and at March 31, 2023 PreferredStockValue - USD Point-in-time
Common Stock, $0.01 par value per share, 135,000,000 shares authorized, 56,129,710 shares issued and 41,030,034 shares outstanding at July 2, 2023; 56,004,613 shares issued and 40,901,059 shares outstanding at March 31, 2023 CommonStockValue $565.00K USD Point-in-time
Common Stock, $0.01 par value per share, 135,000,000 shares authorized, 56,129,710 shares issued and 41,030,034 shares outstanding at July 2, 2023; 56,004,613 shares issued and 40,901,059 shares outstanding at March 31, 2023 CommonStockValue $560.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $612.29M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $596.46M USD Point-in-time
Treasury stock at cost, 15,099,676 shares held as of July 2, 2023 and 15,103,554 shares held as of March 31, 2023 TreasuryStockCommonValue $740.96M USD Point-in-time
Treasury stock at cost, 15,099,676 shares held as of July 2, 2023 and 15,103,554 shares held as of March 31, 2023 TreasuryStockCommonValue $740.74M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.93B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.99B USD Point-in-time
Contra equity - indemnification receivable ContraEquityAccountIndemnificationReceivable $-2.46M USD Point-in-time
Contra equity - indemnification receivable ContraEquityAccountIndemnificationReceivable $-2.46M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-183.47M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-179.48M USD Point-in-time
Total EnerSys stockholders equity StockholdersEquity $1.60B USD Point-in-time
Total EnerSys stockholders equity StockholdersEquity $1.68B USD Point-in-time
Nonredeemable noncontrolling interests MinorityInterest $3.60M USD Point-in-time
Nonredeemable noncontrolling interests MinorityInterest $3.41M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.68B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.44B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.60B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.49B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.62B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.48B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $898.97M USD 1 Quarter
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $908.57M USD 1 Quarter
Inventory adjustment relating to exit activities InventoryWriteDown $3.10M USD 1 Quarter
Inventory adjustment relating to exit activities InventoryWriteDown - USD 1 Quarter
Gross profit GrossProfit $185.53M USD 1 Quarter
Gross profit GrossProfit $240.31M USD 1 Quarter
Operating expenses OperatingExpenses $127.08M USD 1 Quarter
Operating expenses OperatingExpenses $144.55M USD 1 Quarter
Restructuring and other exit charges RestructuringCharges $8.33M USD 1 Quarter
Restructuring and other exit charges RestructuringCharges $6.31M USD 1 Quarter
Operating earnings OperatingIncomeLoss $89.44M USD 1 Quarter
Operating earnings OperatingIncomeLoss $50.13M USD 1 Quarter
Interest expense InterestExpense $15.24M USD 1 Quarter
Interest expense InterestExpense $11.60M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-1.77M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-668.00K USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $36.76M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $73.53M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.74M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $5.78M USD 1 Quarter
Net earnings attributable to EnerSys stockholders NetIncomeLoss $66.80M USD 1 Quarter
Net earnings attributable to EnerSys stockholders NetIncomeLoss $30.98M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.63 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.76 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.60 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.75 USD 1 Quarter
Dividends per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.17 USD 1 Quarter
Dividends per common share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.17 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 40.94M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 40.79M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 41.70M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 41.35M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $30.98M USD 1 Quarter
Net earnings ProfitLoss $66.80M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $22.69M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $23.62M USD 1 Quarter
Write-off of assets relating to exit activities RestructuringCosts $3.34M USD 1 Quarter
Write-off of assets relating to exit activities RestructuringCosts $7.45M USD 1 Quarter
Net (losses) gains GainLossOnDerivativeInstrumentsNetPretax $-503.00K USD 1 Quarter
Net (losses) gains GainLossOnDerivativeInstrumentsNetPretax $216.00K USD 1 Quarter
Cash (settlements) proceeds CashProceedsSettlementsDerivativesOperatingActivities $-600.00K USD 1 Quarter
Cash (settlements) proceeds CashProceedsSettlementsDerivativesOperatingActivities $657.00K USD 1 Quarter
Provision for doubtful accounts ProvisionAndRecoveryForDoubtfulAccounts $504.00K USD 1 Quarter
Provision for doubtful accounts ProvisionAndRecoveryForDoubtfulAccounts $-173.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $20.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $42.00K USD 1 Quarter
Non-cash interest expense NoncashInterestExpenseAccretionAndAmortizationOfDeferredFinanceFees $410.00K USD 1 Quarter
Non-cash interest expense NoncashInterestExpenseAccretionAndAmortizationOfDeferredFinanceFees $487.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $7.93M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.33M USD 1 Quarter
(Gain) loss on disposal of property, plant, and equipment GainLossOnSaleOfPropertyPlantEquipment $40.00K USD 1 Quarter
(Gain) loss on disposal of property, plant, and equipment GainLossOnSaleOfPropertyPlantEquipment $-43.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-5.54M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-73.20M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $10.96M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $81.45M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.09M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.46M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $484.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $886.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-33.07M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-39.31M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-24.97M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-46.65M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $315.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.57M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $74.95M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-71.89M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $16.09M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $23.01M USD 1 Quarter
Purchase of business PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Purchase of business PaymentsToAcquireBusinessesNetOfCashAcquired $8.27M USD 1 Quarter
Proceeds from disposal of property, plant, and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $139.00K USD 1 Quarter
Proceeds from disposal of property, plant, and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $44.00K USD 1 Quarter
Net cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-22.88M USD 1 Quarter
Net cash (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-24.32M USD 1 Quarter
Net (repayments) borrowings on short-term debt ProceedsFromRepaymentsOfOtherShortTermDebt $-8.02M USD 1 Quarter
Net (repayments) borrowings on short-term debt ProceedsFromRepaymentsOfOtherShortTermDebt $-404.00K USD 1 Quarter
Proceeds from Second Amended Revolver borrowings ProceedsFromLinesOfCredit $80.00M USD 1 Quarter
Proceeds from Second Amended Revolver borrowings ProceedsFromLinesOfCredit $163.20M USD 1 Quarter
Repayments of Second Amended Revolver borrowings RepaymentsOfLinesOfCredit $216.38M USD 1 Quarter
Repayments of Second Amended Revolver borrowings RepaymentsOfLinesOfCredit $27.20M USD 1 Quarter
Option proceeds, net ProceedsFromStockOptionsExercised - USD 1 Quarter
Option proceeds, net ProceedsFromStockOptionsExercised $7.65M USD 1 Quarter
Payment of taxes related to net share settlement of equity awards ProceedsFromStockPlansAndPaymentsRelatedToTaxWithholdingForShareBasedCompensation $633.00K USD 1 Quarter
Payment of taxes related to net share settlement of equity awards ProceedsFromStockPlansAndPaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $22.91M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $7.17M USD 1 Quarter
Dividends paid to stockholders PaymentsOfDividends $7.11M USD 1 Quarter
Other ProceedsFromRepaymentsOfCapitalLeaseObligationsAndOther $207.00K USD 1 Quarter
Other ProceedsFromRepaymentsOfCapitalLeaseObligationsAndOther $354.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-135.95M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $97.54M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-22.02M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.00M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-88.32M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-19.25M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $346.67M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $383.24M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $258.34M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $402.49M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $346.67M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $383.24M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $258.34M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $402.49M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $30.98M USD 1 Quarter
Net earnings ProfitLoss $66.80M USD 1 Quarter
Net unrealized gain (loss) on derivative instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $1.79M USD 1 Quarter
Net unrealized gain (loss) on derivative instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-8.23M USD 1 Quarter
Pension funded status adjustment, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-20.00K USD 1 Quarter
Pension funded status adjustment, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-89.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.00M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-52.22M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-60.37M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $3.81M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $70.61M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-29.39M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-190.00K USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-210.00K USD 1 Quarter
Comprehensive income (loss) attributable to EnerSys stockholders ComprehensiveIncomeNetOfTax $70.80M USD 1 Quarter
Comprehensive income (loss) attributable to EnerSys stockholders ComprehensiveIncomeNetOfTax $-29.18M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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