Enphase Energy Announces Restructuring Initiatives and Quarterly Outlook Update
Enphase Energy, Inc. (ENPH)
Last enphase energy, inc. earnings: 2/18 04:05 pm
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US:NASDAQ Investor Relations:
investor.enphase.com
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Source: Marketwire
PETALUMA, CA -- (Marketwired) -- 09/22/16 -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced restructuring and cost savings initiatives that are expected to result in approximately $20 million of annualized operating expense savings. Enphase is reducing approximately 11 percent of its global workforce and eliminating certain non-core projects. The Company expects to incur aggregate restructuring charges in the third quarter of 2016 of approximately $3.0 million, including approximately $1.7 million in cash-based severance and related benefits, and approximately $1.3 million in non-cash expense for asset impairments and write-offs related to property and equipment. The restructuring actions are expected to be completed in the fourth quarter of 2016. "We made these decisions as part of our efforts to increase our competitiveness in an environment where industry dynamics are constantly evolving," said Paul Nahi, President and CE
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- Enphase Energy, Inc. (NASDAQ: ENPH) was upgraded by analysts at Barclays PLC from an "equal weight" rating to an "overweight" rating. They now have a $134.00 price target on the stock, up previously from $115.00.MarketBeat
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ENPH
Earnings
- 4/23/24 - Beat
ENPH
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 144
- 4/25/24 - Form 144
- ENPH's page on the SEC website