Enphase Energy posts Q3 earnings topper, guides Q4 revenues above consensus
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Enphase Energy (NASDAQ:ENPH) +2.2% in volatile post-market activity Tuesday after beating estimates for Q3 earnings and revenues, and guiding Q4 revenues above Wall Street consensus.
Enphase (ENPH) said quarterly revenues hit a company record of $634.7M, up 20% Q/Q and 80% Y/Y, and Q3 GAAP gross margin rose to 42.2% from 41.3% in Q1 and 39.9% in the year-ago quarter.
The company said Q3 revenues in Europe jumped ~70% Q/Q, as the region accelerates efforts to address rising energy prices and reliance on fossil fuels.
Enphase (ENPH) issued upside guidance for Q4, forecasting revenues of $680M-$720M vs. $663.5M analyst consensus estimate, with GAAP gross margin of 39%-42% and adjusted gross margin of 40%-43.0%.
Enphase Energy's (ENPH) stock price return shows a 44% YTD gain and a 48% increase during the past year.