Enphase Energy: Dismal Quarter Indicates A Steep Fall Ahead [Seeking Alpha]
Enphase Energy, Inc. (ENPH)
Last enphase energy, inc. earnings: 2/18 04:05 pm
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US:NASDAQ Investor Relations:
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Source: Seeking Alpha
Summary Enphase Energy (NASDAQ: ENPH ) missed the already low Q1 guidance . The Company's revenues came in at $54.8M compared to guidance of $60 to $65M. Gross margin of about 13% came well below the 16% to 20% guidance. What makes this miss particularly ugly is that the Q1 guidance was given two months into the quarter and it was already well below expectations with management blaming rains in California as the main reason for the low guidance . With that backdrop, the miss of over 10% at the mid-point was exceptionally bad. Dubiously, management continues to spin rains in California as the reason for the shortfall. For example, CEO Nahi stated that only 21 of 55 working days in Q1 were suitable for installations in California. We find this claim to be misleading. Firstly, these numbers do not seem to include weekends and holidays when many of the smaller installers do not hesitate to work (especially if the work week gets washed out). Secondly, even the installer
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ENPH
News
- Enphase Energy, Inc. (NASDAQ: ENPH) had its price target lowered by analysts at Mizuho from $150.00 to $148.00. They now have a "buy" rating on the stock.MarketBeat
- Enphase Energy, Inc. (NASDAQ: ENPH) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $140.00 price target on the stock.MarketBeat
- Enphase Energy Launches IQ Combiner Lite for Social Housing in the NetherlandsGlobeNewswire
- Enphase Energy, Inc. (NASDAQ: ENPH) is now covered by analysts at DZ Bank AG. They set a "hold" rating on the stock.MarketBeat
- Enphase Energy (ENPH) to Post Q1 Earnings: What's in Store? [Yahoo! Finance]Yahoo! Finance
ENPH
Earnings
- 2/6/24 - Beat
ENPH
Sec Filings
- 4/16/24 - Form 4
- 4/15/24 - Form 144
- 4/5/24 - Form 4
- ENPH's page on the SEC website