Enphase Energy, Inc. ENPH reported fourth-quarter 2024 adjusted earnings of 94 cents per share, which increased 74.1% from 54 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of 75 cents per share by 25.3%.

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Including one-time adjustments, the company posted GAAP earnings of 45 cents per share compared with 15 cents in the year-ago quarter.

The year-over-year earnings increase can be attributed to higher revenues as well as higher income from operations from the year-ago quarter.

ENPH reported 2024 adjusted earnings of $2.37 per share, which were significantly lower than the year-ago figure of $4.41. The full-year bottom-line figure, however, beat the Zacks Consensus Estimate of $2.18 per share.

ENPH’s Revenues

Enphase Energy’s revenues of $382.7 million beat the Zacks Consensus Estimate of $376 million by 1.8%. The top line also increased 26.5% from the prior-year quarter’s figure of $302.6 million.

The year-over-year revenue increase was driven by higher microinverter sales.

The company reported revenues of $1.33 billion in 2024, which were lower than $2.29 billion in 2023. However, the full-year top-line figure beat the consensus estimate of $1.32 billion.

Enphase Energy, Inc. Price, Consensus and EPS Surprise

Enphase Energy, Inc. price-consensus-eps-surprise-chart | Enphase Energy, Inc. Quote

Enphase Energy’s Operational Update

The company’s shipments amounted to approximately 2.01 million microinverters and 152.4 MW hours of Enphase IQ Batteries.

Enphase Energy’s adjusted gross margin increased 290 basis points year over year to 53.2%.

Adjusted operating expenses dropped 3.7% year over year to $83.3 million.

The adjusted operating income totaled $120.4 million, up 83.6% from the year-ago quarter.

Financial Details of ENPH

Enphase Energy generated cash and cash equivalents worth $369.1 million as of Dec. 31, 2024, compared with $288.7 million as of Dec. 31, 2023.

The net cash flow from operating activities amounted to $513.7 million during 2024 compared with $696.8 million at the end of 2023.

Q1 2025 Guidance of Enphase Energy

Enphase Energy issued its financial guidance for first-quarter 2025.

It expects to generate revenues in the range of $340-$380 million. The Zacks Consensus Estimate for first-quarter revenues is pegged at $331.6 billion, which lies lower than the company’s guided range.

Enphase Energy expects shipments to be in the range of 150-170 MW hours of IQ batteries.

Adjusted operating expenses are expected to be between $81 million and $85 million. This excludes approximately $62 million estimated for stock-based compensation expenses, acquisition-related amortization and restructuring.

The adjusted gross margin is expected to be in the range of 48-51%, excluding stock-based compensation expenses and acquisition-related amortization.

ENPH’s Zacks Rank

Enphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Other companies from the same industry that will soon report their fourth-quarter results are discussed below.

First Solar, Inc. FSLR is scheduled to report fourth-quarter results on Feb. 25, 2025. The Zacks Consensus Estimate for FSLR’s earnings is pegged at $4.69 per share, which indicates year-over-year growth of 44.3%.

The consensus estimate for sales is pegged at $1.47 billion, which indicates year-over-year growth of 26.9%.

Sunnova Energy International NOVA is set to report fourth-quarter 2024 results on March 3. The Zacks Consensus Estimate for NOVA’s earnings is pegged at a loss of 79 cents per share.

The consensus estimate for sales is pegged at $234.5 million, which indicates year-over-year growth of 20.8%.

SolarEdge Technologies SEDG is set to report fourth-quarter results on Feb. 19. The Zacks Consensus Estimate for SEDG’s earnings is pegged at a loss of $1.74 per share.

The consensus estimate for sales is pegged at $186.3 million.

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