EnerSys reported solid first-quarter results for fiscal 2025 (QQ1), with revenue of approximately $853 million and GAAP net income of $70.1 million ($1.74 basic EPS, $1.71 diluted). Adjusted metrics point to a margin-heavy, cost-conscious business benefiting from IRA-related adjustments and ongoing cost-reduction actions. Energy Systems revenue declined 15% year-over-year, constrained by communications and Class 8 OEM softness, while Motive Power grew 4% on higher volumes and stronger demand for maintenance-free offerings. Specialty revenue fell 6% as Class 8 OEM activity softened, but Aerospace & Defense opportunities and Bren-Tronics’ recent closing provide aerospace/defense upside and accretive earnings timing. Management stressed a multi-segment recovery cadence into the second half of fiscal 2025, highlighted by Energy Systems’ improving backlog, data-center resilience demand, and an anticipated ramp in Motive Power and Specialty volumes, aided by capacity expansions (Missouri TPPL) and new product lines (NexSys lithium, outdoor chargers) as well as the fast-charge storage venture. The company lifted full-year revenue guidance by $60 million and raised adjusted diluted EPS guidance by $0.25, signaling confidence in achieving the midpoint as Bren-Tronics contributions materialize and Energy Systems backlogs normalize. Near-term catalysts include data-center project monetization, resilience-driven network investments (Telco/HFC), and the planned lithium cell gigafactory contingent on DOE funding outcomes. Key risks include macro demand volatility in communications and trucking end markets, integration/timing risk from Bren-Tronics, supply chain dynamics, tariff impacts, and the pace of DOE grant decisions. Overall, EnerSys is positioned to benefit from secular trends in energy storage, electrification, and defense electronics, albeit with some quarterly cadence volatility.