EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today results for its second quarter of fiscal 2019, which ended on September 30, 2018.
Net earnings attributable to EnerSys stockholders (“Net earnings”) for the second quarter of fiscal 2019 were $47.4 million, or $1.11 per diluted share, which included an unfavorable highlighted net of tax impact of $2.5 million, or $0.06 per diluted share from highlighted items described in further detail in the tables shown below, reconciling non-GAAP adjusted financial measures to reported amounts.
Net earnings for the second quarter of fiscal 2018 were $43.2 million, or $1.00 per diluted share, which included an unfavorable highlighted net of tax impact of $2.1 million, or $0.05 per diluted share from highlighted items described in further detail in the tables shown below.
Excluding these highlighted items, adjusted Net earnings per diluted share for the second quarter of fiscal 2019, on a non-GAAP basis, were $1.17 which met the guidance of $1.14 to $1.18 per diluted share given by the Company on August 8, 2018. These earnings compare to the prior year second quarter adjusted Net earnings of $1.05 per diluted share. Please refer to the section included herein under the heading “Reconciliation of Non-GAAP Financial Measures” for a discussion of the Company’s use of non-GAAP adjusted financial information which include tables reconciling GAAP and non-GAAP adjusted financial measures for the quarters ended September 30, 2018 and October 1, 2017.
Net sales for the second quarter of fiscal 2019 were $660.5 million, an increase of 7% from the prior year second quarter net sales of $617.3 million and a 2% sequential quarterly decrease from the first quarter of fiscal 2019 net sales of $670.9 million. The increase in the current quarter compared to the prior year quarter was the result of a 7% increase in organic volume and a 2% increase in pricing, partially offset by a 2% decrease in foreign currency translation impact. The 2% sequential quarterly decrease was primarily due to a 1% decrease each in organic volume and foreign currency translation impact.