Enphase Energy (NASDAQ: ENPH) reported Q1 EPS of $1.37, $0.16 better than the analyst estimate of $1.21. Revenue for the quarter came in at $726 million versus the consensus estimate of $719.28 million.

GUIDANCE:

Enphase Energy sees Q2 2023 revenue of $700-750 million, versus the consensus of $773 million.

• Revenue to be within a range of $700.0 million to $750.0 million, which includes shipments of 80 to 100 megawatt hours of Enphase IQ Batteries
• GAAP gross margin to be within a range of 41.0% to 44.0%
• Non-GAAP gross margin to be within a range of 42.0% to 45.0%, excluding stock-based compensation expense and acquisition related amortization
• GAAP operating expenses to be within a range of $155.0 million to $159.0 million
• Non-GAAP operating expenses to be within a range of $98.0 million to $102.0 million, excluding $57.0 million estimated for stock-based compensation expense, acquisition related expenses and amortization, and restructuring charges for site consolidation
• GAAP and non-GAAP annualized effective tax rate is expected to be within a range of 21.0% to 23.0%

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