ENS’ steady long-term outlook and focus on niche markets drive solid ROICs.
No-moat EnerSys reported fiscal fourth-quarter 2018 results in line with our expectations, and we do not plan to alter our $79 fair value estimate. Fourth-quarter revenue grew 9% year over year to $683 million thanks to a 3% increase in pricing, 1% increase in volume, and 5% boost from foreign currency translation. Robust volume and pricing growth in Asia along with higher premium sales for motive power product lines helped offset some increases in commodity costs, but adjusted operating margins...EnerSys is a manufacturer, marketer and distributor of industrial batteries. The company also manufactures, markets and distributes products such as battery chargers, power equipment, battery accessories, and outdoor cabinet enclosures. The company's product lines are: reserve power products, which are used for backup power for the continuous operation of critical applications in telecommunications systems, uninterruptible power systems applications for computer and computer-controlled systems, and other specialty power applications; and motive power products, which are used to provide power for electric industrial forklifts used in manufacturing, warehousing and other material handling applications.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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