EnerSys (NYSE:ENS) Q4 2020 Earnings Conference Call - Final Transcript

Jun 02, 2020 • 09:00 am ET


EnerSys (NYSE:ENS) Q4 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2020 EnerSys Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

[Operator Instructions]. I would now like to hand the conference over to your speaker today, David Shaffer, President and CEO. Please go ahead.

David M. Shaffer

Thanks, Sara. Good morning, and thank you for joining us for our fourth quarter and full year earnings call. On the call with me this morning is Mike Schmidtlein, our Chief Financial Officer.

Last evening, we posted slides on our website that we will be referencing during the call this morning. If you didn't get a chance to see this information, you can go to the webcast tab in the Investors section of our website at www.enersys.com.

I'm going to ask Mike to cover information regarding forward-looking statements.

Michael J. Schmidtlein

Thank you, Dave, and good morning to everyone. As a reminder, we will be presenting certain forward-looking statements on this call that are based on management's current expectations and views regarding future events and operating performance and are subject to uncertainties and changes in circumstances. Our actual results may differ materially from the forward-looking statements for a number of reasons. Our forward-looking statements are applicable only as of the date of this presentation.

For a list of factors which could affect our future results, including our earnings estimates, see forward-looking statements included in Item 7, Management's Discussion and Analysis of financial condition and results of operations, set forth in our Annual Report on Form 10-K for the fiscal year ended March 31st, 2020, which was filed with the U.S. Securities and Exchange Commission.

In addition, we will also be presenting certain non-GAAP financial measures. For an explanation of the differences between the comparable GAAP financial information and the non-GAAP information, please see our Company's Form 8-K, which includes our press release dated June 1st, 2020, which is located on our website at www.enersys.com.

Now let me turn it back to you, Dave.

David M. Shaffer

Thanks, Mike. I would like to spend the first few minutes of this morning's call providing an update on how COVID-19 is impacting our business and the things we are doing to confront this challenge.

Despite the many challenges this pandemic has brought with it, our focus has been on the health and safety of our employees worldwide. Wherever possible, our employees are working from home and every factory is operating in compliance with all applicable health and safety guidelines, rules and regulations.

I'm extremely proud of the responsiveness and adaptability of our employees in the face of this crisis. Morale has stayed high as the teams continue to pull together to get the job done for our customers. I'll talk more about our go-forward strategy in this COVID environment later in the call.

I'd like to move on to Slide 3. The most significant COVID-related impact on EnerSys was the forced closure of our electric forklift and Class 8 over-the-road OEM truck customers in April, which had