Enphase Energy Q4 Performance: Revenue Shortfall, Subpar Outlook And More
Portfolio Pulse from Erica Kollmann
Enphase Energy, Inc. (NASDAQ:ENPH) reported Q4 earnings with a revenue of $302.57 million and adjusted earnings of 54 cents per share, both below analyst expectations. Year-over-year, revenue decreased by 58.25% and earnings by 64.24%. The company's Q1 revenue forecast is also below estimates, and it plans to cease operations in Romania and Wisconsin to focus on manufacturing in South Carolina and Texas. ENPH shares rose 8.18% after-hours.
February 06, 2024 | 9:30 pm
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Enphase Energy reported lower-than-expected Q4 earnings and revenue, with significant year-over-year decreases. The company's Q1 revenue forecast is below estimates, but shares rose 8.18% after-hours.
Despite the negative earnings report and subpar outlook, ENPH shares increased after-hours, likely due to short covering or profit booking. The decision to streamline manufacturing might be viewed positively in the long term, but the immediate financial performance and outlook could concern investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100