Enphase Calls for Better Times Ahead, but Europe Is Still a Worry for Solar-Power Company
Enphase Energy Inc. guided for better-than-expected sales in the current quarter, boosting the stock of the microinverter maker by more than 6% in the extended session Tuesday.
Enphase said it expects sales between $340 million and $380 million in the first quarter, which compares with FactSet expectations of $338 million in sales.
Wall Street was keeping a close and cautious eye on Enphase’s outlook ahead of Tuesday’s numbers, due to “elevated competition in U.S. and continued softness in EU,” Truist analysts said earlier this week.
The solar-power company earned an adjusted 94 cents a share on revenue of $382.7 million in the fourth quarter. That was ahead of the FactSet consensus for adjusted EPS of 73 cents on sales of $377 million.
The jump in revenue between quarters was due to higher microinverter sales, Enphase said, but it added that its revenue in Europe fell by about 25% in the fourth quarter.
“The decline in revenue was the result of a further softening in European demand,” Enphase said.
Shares of Enphase have lost 35% in the past 12 months, contrasting with gains of around 22% for the S&P 500 index.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10