READING, Pa. - EnerSys (NYSE: NYSE:ENS), a provider of industrial energy storage solutions, has announced its role in the recent NASA Europa Clipper mission, which launched on October 14, 2024. The company's ABSL™ lithium-ion space battery was onboard the spacecraft when it took off from Kennedy Space Center aboard a SpaceX Falcon Heavy Rocket.
The mission, led by NASA's Jet Propulsion Laboratory in collaboration with the John Hopkins Applied Physics Laboratory, aims to study Jupiter's moon Europa, focusing on its potential to support life. The Europa Clipper spacecraft is set to perform close to 50 flybys of Europa, equipped with scientific instruments to examine the moon's icy surface and underlying ocean.
The ABSL™ lithium-ion space battery designed by EnerSys is tasked with powering both the spacecraft's flight and its scientific instruments. The battery's configuration, which includes three 8s72p modules in parallel, provides a capacity of over 540 ampere-hours at 28 volts. It is engineered to endure various charge and discharge cycles over the mission's lifespan and to minimize magnetic interference with the spacecraft's operations.
Mark Matthews, EnerSys President of Specialty Global, expressed pride in the company's contribution to the mission, highlighting EnerSys' longstanding partnership with NASA in developing specialized energy storage solutions for space exploration.
EnerSys' ABSL™ batteries are known for their reliability in space conditions, having been used in over 300 spacecraft and launch vehicles. They are designed to handle deep discharge cycles, long lifespans, and extreme vibrations.
EnerSys operates in various sectors, providing energy system solutions, motive power batteries, and specialty batteries for a range of industrial applications. The company's commitment to sustainability is evident in its operations and product impacts, focusing on minimizing environmental footprints and contributing to positive environmental, social, and economic outcomes.
This news is based on a press release statement and reflects the information provided therein as of the date of the press release. EnerSys does not assume any obligation to update the information following the publication of this news article.
In other recent news, EnerSys is poised to secure a $199 million grant from the U.S. Department of Energy for a new lithium-ion cell production facility. The company is also planning to invest approximately $615 million over the next four years in this project, which is expected to create up to 500 jobs. In addition, EnerSys has reported solid financial results, meeting its revenue target of $911 million and exceeding earnings expectations with $2.08 per share for the fourth quarter of fiscal 2024.
The company also announced a 7% increase in its quarterly cash dividend to $0.24 per share. Furthermore, Roth/MKM initiated coverage of EnerSys with a Buy rating, acknowledging the company's role in the energy transition. EnerSys recently acquired Bren-Tronics to enhance its defense applications and lithium product offerings.
For the first quarter and full fiscal year 2025, EnerSys expects net sales between $860 million and $900 million for Q1, and between $3.675 billion and $3.825 billion for the full year. The projected adjusted diluted earnings per share are anticipated to range from $1.93 to $2.03 for Q1, and $8.55 to $8.95 for the full fiscal year. These are recent developments and reflect the company's ongoing growth and commitment to enhancing shareholder value.
InvestingPro Insights
EnerSys' involvement in NASA's Europa Clipper mission underscores the company's technological prowess and its position in the specialized energy storage market. This high-profile project aligns with several key financial metrics and insights from InvestingPro.
According to InvestingPro data, EnerSys boasts a market capitalization of $3.89 billion, reflecting its significant presence in the industrial energy storage sector. The company's P/E ratio of 14.46 suggests that it's trading at a reasonable valuation relative to its earnings, which could be attractive to value-oriented investors interested in the space technology sector.
An InvestingPro Tip highlights that EnerSys has maintained dividend payments for 12 consecutive years, demonstrating financial stability and a commitment to shareholder returns. This is particularly noteworthy given the company's involvement in long-term, high-stakes projects like space missions. The current dividend yield stands at 0.98%, with a impressive dividend growth of 37.14% over the last twelve months.
Another InvestingPro Tip indicates that EnerSys operates with a moderate level of debt, which is crucial for a company engaged in capital-intensive projects such as developing space-grade batteries. This financial prudence may provide EnerSys with the flexibility to invest in research and development for future space missions and other innovative projects.
EnerSys' revenue for the last twelve months was $3.53 billion, with a gross profit of $998.03 million. While there was a slight revenue decline of 5.16%, the company maintained a solid gross profit margin of 28.3%. This financial performance suggests that EnerSys can sustain its operations and continue to invest in cutting-edge technologies like those used in the Europa Clipper mission.
For investors interested in EnerSys' potential, InvestingPro offers 7 additional tips that could provide further insights into the company's financial health and growth prospects. These tips, along with real-time metrics, can be invaluable for making informed investment decisions in the dynamic aerospace and energy storage sectors.
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