Enphase Falls Short Of Q3 Expectations, Issues Shabby Q4 Outlook, Stock Tanks
Portfolio Pulse from Ryan Gustafson
Enphase Energy, Inc. (NASDAQ:ENPH) reported Q3 earnings per share of $1.02, missing the $1.03 estimate, and revenue of $551.1 million, falling short of the $566.02 million estimate. The company cited high inventory and softening demand in key markets as reasons. Enphase also issued a Q4 revenue outlook of $300 million to $350 million, significantly below the $601.24 million estimate. Following the announcement, ENPH shares fell 18.2% in after-hours trading.
October 26, 2023 | 8:31 pm
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Enphase Energy's Q3 earnings and revenue missed estimates, and the company issued a lower than expected Q4 revenue outlook. This led to a significant drop in the company's stock price.
Enphase Energy's Q3 earnings and revenue fell short of estimates, and the company's Q4 revenue outlook is also below expectations. This negative news is likely to have a significant impact on investor sentiment, leading to a decrease in the company's stock price in the short term.
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