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EnerSys (ENS+0.18%) has submitted its 10-Q filing for the quarterly period ended December 29, 2024.
The filing reports a net sales increase of 5.2% to $906.2 million for the quarter compared to $861.5 million in the same period the previous year. This increase resulted from a combination of organic volume growth, pricing adjustments, and acquisitions, partially offset by foreign currency impacts.
Gross profit for the quarter was $298.2 million, representing 32.9% of net sales, up from $248.6 million or 28.9% of net sales in the previous year. The increase in gross profit margin was attributed to improved sales mix and benefits from the Inflation Reduction Act.
Operating expenses for the quarter were $154.3 million, up from $143.9 million in the prior year, primarily due to acquisition-related costs and investments in new ventures.
Operating earnings increased to $142.7 million, or 15.7% of net sales, compared to $92.6 million, or 10.7% of net sales, in the previous year.
Interest expense was $14.9 million for the quarter, up from $11.7 million in the previous year, due to higher average debt levels.
The company reported net earnings of $114.8 million for the quarter, up from $76.2 million in the previous year. Basic earnings per share increased to $2.92 from $1.88.
EnerSys completed the acquisition of Bren-Tronics Defense LLC during the quarter, which contributed to the Specialty segment's sales and operating results.
The company declared a quarterly cash dividend of $0.24 per share, to be paid on March 28, 2025, to stockholders of record as of March 14, 2025.
EnerSys continues to monitor global economic conditions, including tariffs and geopolitical tensions, which may impact future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the EnerSys quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.