EnerSys (ENS) Wednesday reported a rise in third-quarter net earnings to $39.2 million or $0.80 per share, from $38.6 million or $0.77 per share last year. The results included an unfavorable net of tax impact of $0.08 per share from a charge of $3.5 million for restructuring plans.
Adjusted earnings for the quarter was $0.88 per share compared to $0.80 per share in the prior year. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.80 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, net sales for the third quarter fell 3 percent to $557.3 million from $574.2 million last year. Analysts estimated revenues of $548.54 million for the quarter.
Looking forward to the fourth quarter, the company expects adjusted earnings between $0.73 per share and $0.77 per share. The Street currently estimates earnings of $0.84 per share last year.
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