Enphase Energy Q3 preview: Strong demand likely to power yet another earnings beat
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Enphase Energy (NASDAQ:ENPH) is scheduled to announce Q3 earnings results on Tuesday, Oct. 25, after market close.
The consensus EPS estimate is $1.09 (+81.7% Y/Y) and the consensus revenue estimate is $615.85M (+75.2% Y/Y).
Over the last 2 years, ENPH has beaten EPS and revenue estimates 100% of the time. Over the last 3 months, both EPS and revenue estimates have seen 23 upward revisions.
KeyBanc believes the solar power firm is "best positioned to grow and execute through near-term headwinds, given its global presence and dominant market share".
Guggenheim Partners downgraded Enphase (ENPH) as the stock appears fairly valued, but clarified that this did not reflect a negative assessment of the quality of its business.
SA contributor The Value Pendulum rates Enphase (ENPH) Hold as the stock's valuation multiples are much higher than peers, but "this is justified considering expectations of faster top line growth and higher margins".
Shares of Enphase (ENPH) gained 36% YTD, outperforming the S&P 500 index by a very wide margin.
Q2 recap:

Enphase (ENPH) stock rallied after a big Q2 earnings beat, driven by strong demand for Enphase Energy Systems. The firm guided for Q3 revenue of $590M-$630M, which includes shipments of 130-145 MWh of Enphase IQ batteries.
The strong show led to several analysts raising their price targets on Enphase (ENPH).
Credit Suisse upgraded the firm on strong execution amid supply chain issues, and as it delivered on IQ8 premium pricing/margins.