Enphase sizzles after Q4 earnings topper, upbeat Q1 revenue guidance
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Enphase Energy (NASDAQ:ENPH) +8.9% post-market Tuesday after reporting better than expected Q4 adjusted earnings and guiding Q1 above analyst estimates.
Q4 net income climbed to $153.8M, or $1.06/share, from $115M, or $0.80/share, in the year-ago period, as revenues reached a quarterly record $724.7M, along with 43.8% gross margin, above 41.8% analyst consensus.
The company said it shipped 4,873,702 microinverters, or 1,952.4 MW DC, and 122.1 MWh Enphase IQ batteries.
For Q1, Enphase (ENPH) guided for revenues of $700M-$740M, above $674.4M consensus, which includes shipments of 100-120 MWh of Enphase IQ batteries, as well as adjusted gross margin of 41%-44%, compared to 41.5% consensus.
Enphase's (ENPH) upbeat report has other solar stocks rising post-market, including SolarEdge (SEDG) +5.5%, Sunnova (NOVA) +3.6%, Sunrun (RUN) +3.5%, SunPower (SPWR) +3.4% and First Solar (FSLR) +1.6%.
Enphase Energy (ENPH) shares have dropped 10% so far this year but gained 62% during the past year.