Enphase Energy (ENPH) came out with quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this solar technology company would post earnings of $0.54 per share when it actually produced earnings of $0.54, delivering no surprise.Over the last four quarters, the ...

Revenue and Sales Performance - Net revenues for the three months ended March 31, 2024, decreased by $462.7 million, or 64%, compared to the same period in 2023, primarily due to a 71% decrease in microinverter units shipped[144]. - Approximately 1.4 million microinverter units were sold in Q1 2024, down from approximately 4.8 million units in Q1 2023, and IQ Batteries shipped decreased from 102.4 MWh to 75.5 MWh[145]. - The demand environment for products experienced a slowdown beginning in Q2 2023, leading to elevated inventory levels with distributors and installers[136]. - The company expects continued adverse effects on revenue in 2024 due to higher interest rates and changes in net energy metering policies in key markets[136]. Profitability and Expenses - Gross profit for Q1 2024 was $115.5 million, a decrease of $210.9 million, or 65%, from $326.4 million in Q1 2023, with a gross margin of 43.9%[146]. - Research and development expenses decreased by $2.9 million, or 5%, in Q1 2024, totaling $54.2 million, primarily due to restructuring actions[149]. - Sales and marketing expenses for Q1 2024 were $53.3 million, down $11.3 million, or 18%, from $64.6 million in Q1 2023[151]. - General and administrative expenses decreased by $1.1 million, or 3%, in Q1 2024 compared to Q1 2023, mainly from lower facility and equipment costs[154]. - Restructuring and asset impairment charges increased by $1.2 million, or 175%, in Q1 2024 compared to Q1 2023, reflecting a new restructuring plan[156]. Financial Position and Cash Flow - Cash, cash equivalents, and marketable securities decreased by $148.8 million, or 8%, to $1.63 billion in Q1 2024 compared to Q1 2023[165]. - Net cash provided by operating activities decreased by $197.0 million to $49.2 million in Q1 2024, primarily due to lower revenue[171]. - Net cash provided by investing activities was $17.7 million in Q1 2024, compared to a net cash used of $363.5 million in Q1 2023[172]. - The company repurchased 332,735 shares for an aggregate amount of $42.0 million under its share repurchase program in Q1 2024[168]. - Total debt increased by $3.5 million, or 0.3%, to $1.3 billion in Q1 2024 compared to Q1 2023, primarily due to accretion of debt discount[166]. Interest and Taxation - Interest income rose to $19.7 million in Q1 2024, up 51% from $13.0 million in Q1 2023, primarily due to increased interest rates[158]. - The income tax provision decreased by $27.5 million, or 86%, to $4.6 million in Q1 2024 from $32.1 million in Q1 2023, due to lower profitability[162]. Product and Market Information - The average selling price (ASP) for microinverters increased due to a favorable product mix, with more IQ8 microinverters sold compared to IQ7 microinverters[145]. - The company shipped approximately 75 million microinverters and deployed over 4.1 million residential and commercial systems in more than 150 countries as of March 31, 2024[132]. - The Enphase IQ Battery storage systems have usable capacities of 10.1 kWh and 3.4 kWh for the U.S. market, and 10.5 kWh and 3.5 kWh for Europe and other international markets[140].

Enphase Energy Reports Financial Results for the First Quarter of 2024 FREMONT, Calif., April 23, 2024 - Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today financial results for the first quarter of 2024, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $263.3 million in the first quarter of 2024, along with 46.2% for non-GA ...

FREMONT, Calif., April 22, 2024 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today a new strategic relationship with global energy and tech company, Octopus Energy Group. The parties will focus on deploying Enphase IQ8™ Microinverters and IQ™ Battery 5P™ in the United Kingdom. Octopus Energy's retail customers in the United Kingdom can now integrate Enphase's home solar ...

As Earth Day 2024 approaches, it’s the perfect time to reflect on how we can invest in the planet and our future. For those looking to make a positive impact with their investments, sustainable stocks offer a compelling opportunity.These companies not only prioritize environmental conservation and sustainability but also deliver strong financial returns. This Earth Day 2024, consider investing in three sustainable stocks that are helping to build a greener future while potentially growing your wealth.The hi ...

FREMONT, Calif., April 18, 2024 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, today announced the launch of the IQ® Combiner Lite in the Netherlands to simplify installation and commissioning of small-scale solar installations on homes categorized as "social housing," where rent is capped by the Dutch government to increase accessibility for people with low incomes. The Netherlands ...

Enphase Energy, Inc. (ENPH) is scheduled to report first-quarter results on Apr 23, after the closing bell.In the last reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. Enphase Energy has a trailing four-quarter average earnings surprise of 7.24%.Factors to NoteSolid shipment of batteries backed by a solid demand trend in the solar market is expected to have contributed favorably to ENPH’s top-line growth.  Region-wise, the Netherlands, France, Germany and Europe are l ...

Enphase Energy (ENPH) closed at $110.59 in the latest trading session, marking a -1.67% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.12%.Shares of the solar technology company have appreciated by 1.15% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.4% and outperforming the S&P 500's loss of 0.9%.Analysts and investors alike will be keeping a clos ...

You may have heard about GPT-4 Turbo, Gemini, Llama or X’s (formerly Twitter) Grok. However, there is a new contender outside of these Big Tech models in town. It’s called Claude, created by Anthropic. The company recently released Claude 3 models and claims its premium “Opus” model is smarter than all other AI bots. Many people have touted it as the most intelligent AI available right now. Moreover, it has access to events up to August 2023, making it more up-to-date than other models.Could Claude’s stock ...

In the latest market close, Enphase Energy (ENPH) reached $119.60, with a -1.95% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.The solar technology company's shares have seen an increase of 0.81% over the last month, not keeping up with the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.Market participants will be closely following the financial results of Enp ...