Kayode Omotosho
2 min read
Home energy technology company Enphase (NASDAQ:ENPH) will be reporting earnings this Tuesday afternoon. Here’s what you need to know.
Enphase beat analysts’ revenue expectations last quarter, reporting revenues of $291.9 million, down 19.6% year on year. It was a mixed quarter for the company, with EPS in line with analysts’ estimates.
Is Enphase a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Enphase’s revenue to decline 25.4% year on year, a reversal from the 7.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Enphase has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Enphase’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 138%, beating analysts’ expectations by 14.6%, and Allegion reported revenues up 9.6%, topping estimates by 3.3%. Bloom Energy traded down 11.7% following the results while Allegion was up 12.6%.
Read our full analysis of Bloom Energy’s results here and Allegion’s results here.
Over the last year or so, investors’ attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.9% on average over the last month. Enphase is up 2.5% during the same time and is heading into earnings with an average analyst price target of $49.13 (compared to the current share price of $31.70).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
