Enphase Energy leaps despite earnings miss; Analysts say not as bad as feared By Investing.com

© Reuters. Enphase Energy leaps despite earnings miss; Analyst says not as bad as feared

Enphase Energy (NASDAQ:) unveiled Q4 earnings and revenue that missed Wall Street’s expectations and issued worse-than-expected guidance for the first quarter.

Even so, ENPH surged 15% in premarket trading Wednesday.

The energy technology company reported fourth-quarter earnings per share (EPS) of $0.54 for the quarter, missing the consensus estimates of $0.56. Revenue came in at $302.6 million, while analysts expected $335.78 million.

Adjusted gross margin was reported at 50.3%, ahead of the projected 47.4%.

For Q1, Enphase expects Q1 revenue in the range of $260 million to $300 million, notably below the forecasted $335.78 million.

“The stock traded up post close as the miss was not as bad as fears, but we remain cautious given the uncertain pace of recovery from here,” analysts at Wolfe Research said.

“We see revenues exiting 2024 at a run-rate of ~$500M/quarter on 3.1M microinverter shipments with sequential improvements continuing through 2025 and a 4Q25 estimate of ~$600M.”

Oppenheimer analysts raised their ratings on ENPH in the aftermath of the earnings report.

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