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Mar 31, 2022
EnerSys Q4 2022 Earnings Report
EnerSys reported record quarterly net sales and earnings improvement driven by pricing actions.
Key Takeaways
EnerSys reported a strong finish to a challenging year, with record fourth-quarter net sales of $907 million, an 11.5% increase year-over-year. The company's backlog grew to $1.3 billion, and pricing actions outpaced costs, driving sequential earnings improvement despite macroeconomic headwinds.
Net sales for the fourth quarter of fiscal 2022 were $907.0 million, an 11.5% increase from the prior year fourth quarter.
Diluted EPS (GAAP) was $0.67, compared to $0.78 in the prior year quarter.
Adjusted diluted EPS (non-GAAP) was $1.20, compared to $1.30 in the prior year quarter.
The company returned $186 million to stockholders through share buybacks and dividends in FY’22.
EnerSys
EnerSys
EnerSys Revenue by Segment
Revenue by Segment
Energy Systems Revenue
CapyFin.comMotive Power Revenue
CapyFin.comSpecialty Revenue
CapyFin.com Forward Guidance
For the first quarter of fiscal 2023, the company expects adjusted diluted earnings per share in the range of $1.10 to $1.20, with pricing keeping pace with mounting inflation and FX gains in the fourth quarter of fiscal 2022 not repeating. The company expects its gross margin for the first quarter of fiscal 2023 to be in the range of 21% - 23%. For the full year of fiscal 2023 the company expects capital expenditure to be approximately $100 million.
Positive Outlook
- Pricing keeping pace with mounting inflation
- Gross margin for the first quarter of fiscal 2023 to be in the range of 21% - 23%
- Tracking to strategic plan
- Well-positioned to capitalize heavily on robust market demand in exciting end-markets
- Strong order book and price stickiness once the current macro environment normalizes
Challenges Ahead
- Macro headwinds from supply chain constraints
- Increasing interest rates
- Increased inflationary challenges
- Geopolitical events
- FX gains in the fourth quarter of fiscal 2022 not repeating
Revenue & Expenses
Visualization of income flow from segment revenue to net income