Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Enphase Gets a Charge from Q2 Earnings and Bright Outlook

Share on Stocktwits


Enphase Energy's shares are surging by more than 30% today after releasing strong growth and earnings for Q2/19.

Global solar energy technology firm and major supplier of solar microinverters Enphase Energy Inc. (ENPH:NASDAQ) announced financial results for the second quarter of 2019 yesterday after markets closed.

The company reported revenue of $134.1 million for Q2/19, an increase of 34% sequentially and 77% year-over year. The firm indicated that its Enphase IQ 7 products shipments equaled 98% of all microinverters sold. Enphase added that it shipped approximately 416 megawatts DC, or 1,283,680 microinverters, and advised that it continues to see strong demand across the board from customers.

The company further reported Q2/19 GAAP operating income of $17.4 million (non-GAAP $23.2 million) and GAAP net income of $10.6 million (non-GAAP $23.2 million) resulting in GAAP diluted EPS of $0.08 (non-GAAP $0.18).

President and CEO Badri Kothandaraman commented, "While demand continued to outstrip available supply, we were able to increase capacity to better support our customers and we are on track to have a supply of approximately 2,000,000 microinverters in Q2/19."

The company reiterated some of the business highlights in the quarter, noting that in June it announced that more than 500 solar installation companies in the U.S. have benefitted from significantly reduced solar design complexity and logistics by adopting Enphase Energized AC Modules. Also in June, Enphase announced that it renewed its low-income solar partnership with GRID Alternatives, a national leader in making renewable energy technology and job training accessible to underserved communities. And in July, Enphase announced the first shipment of seventh-generation Enphase IQ microinverters produced in Mexico as part of its expanded manufacturing agreement with Flex.

The company also provided some estimates for Q3/19: "Revenue to be within a range of $170–180 million, including a range of $6–10 million for ITC safe harbor; GAAP and non-GAAP gross margin to be within a range of 33–36%; and GAAP operating expenses to be within a range of $28.5–30.5 million, including a total of approximately $5.0 million estimated for stock-based compensation expenses and acquisition related expenses and amortization."

Enphase Energy is headquartered in Fremont, Calif. and describes its business as being a global energy technology company that delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The company states that it has revolutionized the solar industry with its microinverter technology, producing a fully integrated solar plus storage solution. To date, the firm has shipped more than 21 million microinverters and deployed over 940,000 Enphase systems in 130 countries.

Enphase shares are up sharply higher today on the news opening at $26.31 (+$4.66, +21.52%) over yesterday afternoon's close of $21.65, and so far today have traded between $26.29 and $28.93, a 52-week intraday high price. At present, the stock is trading at $28.19 (+$6.54, +30.21%).


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Alternative - Solar and Alternative Energy investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe