EnerSys (ENS) Q3 earnings: what to expect

Battery manufacturer EnerSys (NYSE:ENS) will be reporting earnings this Wednesday after the bell. Here’s what to look for.

EnerSys beat analysts’ revenue expectations last quarter, reporting revenues of $935.6 million, up 4.8% year on year. It was a favorable quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

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 1.6% year on year, slowing from the 7.6% 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 Q3 results, giving us a hint as to what we can expect. Sunrun delivered year-on-year revenue growth of 51.7%, beating analysts’ expectations by 46.5%, and Bloom Energy reported revenues up 138%, topping estimates by 14.6%. Sunrun traded up 9.9% following the results while Bloom Energy was down 11.2%.

Read our full analysis of Sunrun’s results here and Bloom Energy’s results here.

There has been positive sentiment among investors in the renewable energy segment, with share prices up 3% on average over the last month. EnerSys is down 15.1% during the same time and is heading into earnings with an average analyst price target of $249.48 (compared to the current share price of $151.35).

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