EnerSys Provides Update On IRC Section 45X Tax Credit Benefits And Updated Guidance For Its Fiscal Q3 2024; Now Sees Q3 EPS $2.50-$2.60 Vs $1.85 Est.

Author: Benzinga Newsdesk | December 19, 2023 05:26pm

Based on the proposed regulations from the U.S. Department of the Treasury, the Company now expects its third quarter fiscal 2024 adjusted diluted EPS to be in the range of $2.50 to $2.60, which reflects an adjustment – including retroactive impacts for the incremental IRC 45X tax benefits attributable to the fourth quarter of fiscal 2023 through the third quarter of fiscal 2024, as well as absorbing sustained capex pauses from telecom and broadband customers. This compares to the previously communicated range of $1.80 to $1.90.

Posted In: ENS