Enphase Energy (ENPH) Misses Q1 EPS by 3c

Enphase Energy (NASDAQ: ENPH) reported Q1 EPS of ($0.34), $0.03 worse than the analyst estimate of ($0.31). Revenue for the quarter came in at $61.1 million versus the consensus estimate of $65.37 million.

“We are gaining market share with several new and existing customer wins in both the U.S. and international markets,” said Paul Nahi, president and CEO of Enphase Energy. “We continue to execute on our cost reduction roadmap that will significantly drive down our product costs. Also, we are making solid progress on the expansion of the Enphase Home Energy Solution with the upcoming launch of the AC Battery storage system. Together, these will drive long-term growth with new and existing partners worldwide.”

GUIDANCE:

Enphase Energy sees Q2 2016 revenue of $76-82 million, versus the consensus of $80.1 million.

“We expect revenue for the second quarter of 2016 to be within a range of 76 to 82 million dollars,” said Kris Sennesael, CFO of Enphase Energy. “At the midpoint of the range, revenue is expected to be up 23 percent sequentially and megawatt shipments are expected to be up 32 percent sequentially, demonstrating further market share gains. We expect gross margin to be within a range of 17 to 20 percent. We also expect non-GAAP operating expenses for the second quarter of 2016 to be within a range of 27 to 29 million dollars.”

For earnings history and earnings-related data on Enphase Energy (ENPH) click here.

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