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EnerSys

For the period ended Sep 29, 2024. Filed Nov 6, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 29, 2024 · Filed Nov 6, 2024

ENS$147.02+3.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 29, 2024

☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number:001-32253

EnerSys

(Exact name of registrant as specified in its charter)

Delaware23-3058564
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)

2366 Bernville Road

Reading, Pennsylvania 19605

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:610-208-1991

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par value per shareENSNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ý Yes ¨ No.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ý No¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act of 1934.

Large Accelerated FilerýAccelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).☐ Yesý No.

Common Stock outstanding at November 1, 2024:39,820,159 shares

EnerSys

INDEX – FORM 10-Q

Page
PART I – FINANCIAL INFORMATION
Item 1.Financial Statements
Consolidated Condensed Balance Sheets (Unaudited) as of September 29, 2024 and March 31, 20243
Consolidated Condensed Statements of Income (Unaudited) for the Quarters Ended September 29, 2024 and October 1, 20234
Consolidated Condensed Statements of Income (Unaudited) for the Six Months Ended September 29, 2024 and October 1, 20235
Consolidated Condensed Statements of Comprehensive Income (Unaudited) for the Quarters and Six Months Ended September 29, 2024 and October 1, 20236
Consolidated Condensed Statements of Cash Flows (Unaudited) for the Six Months Ended September 29, 2024 and October 1, 20237
Notes to Consolidated Condensed Financial Statements (Unaudited)8
1Basis of Presentation8
2Acquisition9
3Revenue Recognition10
4Accounts Receivable11
5Goodwill and Other Intangible Assets11
6Inventories12
7Fair Value of Financial Instruments12
8Derivative Financial Instruments14
9Income Taxes18
10Warranty19
11Commitments, Contingencies and Litigation19
12Restructuring and Other Exit Charges19
13Debt22
14Retirement Plans25
15Stock-Based Compensation25
16Stockholders’ Equity and Noncontrolling Interests26
17Earnings Per Share31
18Business Segments32
19Subsequent Events32
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations34
Item 3.Quantitative and Qualitative Disclosures about Market Risk49
Item 4.Controls and Procedures51
PART II – OTHER INFORMATION
Item 1.Legal Proceedings52
Item 1A.Risk Factors52
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds53
Item 4.Mine Safety Disclosures53
Item 5.Other Information53
Item 6.Exhibits54
SIGNATURES55
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