Introduces 2027 Financial Targets and Outlines Strategic Priorities
READING, Pa.–(BUSINESS WIRE)–#investorday—EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, hosted its 2023 Investor Day at the New York Stock Exchange on Thursday, June 15, 2023.
President and CEO Dave Shaffer, EVP and CFO Andi Funk, and other members of the executive management team presented a detailed overview of the Company’s strategy and drivers to innovate, optimize, and accelerate the business, as well as the Company’s priorities for sustainability and capital allocation.
Additionally, the Company introduced its fiscal 2027 financial targets as follows:
|
CAGR from FY’23 to FY’27 |
|
|
Net sales growth |
8% to 10% |
|
Fiscal year ending 3/31/2027 |
|
|
Adjusted Operating Margin |
14% to 16% |
|
Adjusted EBITDA |
$850M to $950M |
|
Adjusted EPS |
$11.00 to $13.00 |
“We are excited to share an update on our strategic vision and long-term objectives,” said Dave Shaffer, President and CEO. “As a leading provider of energy storage solutions, EnerSys plays a critical role in the global electrification megatrend. Guided by our three strategic pillars and with our highly differentiated solutions, we are extremely well-positioned for long-term profitable growth, and we see a very bright future ahead for EnerSys.”
A replay of the event can be accessed through the Events and Presentations page of the Investor Relations section of the company’s website at https://investor.enersys.com/events-presentations.
About EnerSys:
EnerSys is the global leader in stored energy solutions for industrial applications, 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. Energy Systems, which combine enclosures, power conversion, power distribution and energy storage, 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, large over-the-road trucks, premium automotive, medical and security systems applications. EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. With the NorthStar acquisition, EnerSys has solidified its position as the market leader for premium Thin Plate Pure Lead batteries which are sold across all three lines of business. More information regarding EnerSys can be found at www.enersys.com.
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. Forward-looking statements include all 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 events or developments that EnerSys expects or anticipates will occur in the future, including statements relating to the proposed offering of the Notes and the use of proceeds thereof, 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. 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, 2023. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. No undue reliance should be placed on any forward-looking statements.
Contacts
Lisa Hartman
Investor Relations and Financial Media
EnerSys
610-236-4040
E-mail: investorrelations@enersys.com
