Enphase Energy's Q4 Earnings Beat Estimates, Revenues Increase Y/Y

Core Insights - Enphase Energy, Inc. (ENPH) reported a significant increase in fourth-quarter 2024 adjusted earnings, reaching 94 cents per share, a 74.1% increase from 54 cents in the prior-year quarter, and surpassing the Zacks Consensus Estimate by 25.3% [1][2] - The company's full-year adjusted earnings for 2024 were $2.37 per share, down from$4.41 in the previous year, but still above the Zacks Consensus Estimate of $2.18 per share [3] - Enphase Energy's revenues for the fourth quarter were$382.7 million, exceeding the Zacks Consensus Estimate of $376 million by 1.8$302.6 million in the prior-year quarter [4] Financial Performance - The company reported GAAP earnings of 45 cents per share for the fourth quarter, compared to 15 cents in the year-ago quarter, driven by higher revenues and operational income [2] - Full-year revenues for 2024 totaled $1.33 billion, down from$2.29 billion in 2023, but still beating the consensus estimate of $1.32 billion [4] - Enphase Energy's adjusted gross margin increased by 290 basis points year-over-year to 53.2$83.3 million [5] Operational Metrics - The company shipped approximately 2.01 million microinverters and 152.4 MW hours of Enphase IQ Batteries [5] - Adjusted operating income for the fourth quarter was $120.4 million, reflecting an 83.6$369.1 million, up from $288.7 million a year earlier [6] - The net cash flow from operating activities for 2024 was$513.7 million, compared to $696.8 million at the end of 2023 [6] - For Q1 2025, the company expects revenues between$340 million and $380 million, with shipments of IQ batteries projected between 150-170 MW hours [7][8]