Enphase Energy (ENPH) Misses Q2 EPS by 6c; offers guidance

Enphase Energy (NASDAQ: ENPH) reported Q2 EPS of $0.43, $0.06 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $303.5 million versus the consensus estimate of $310.32 million.

GUIDANCE:

Enphase Energy sees Q3 2024 revenue of $370-410 million, versus the consensus of $408.4 million.

Non-GAAP gross margin to be within a range of 47.0% to 50.0% with net IRA benefit and 39.0% to 42.0% excluding net IRA benefit. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization
GAAP operating expenses to be within a range of $138.0 million to $142.0 million

Non-GAAP operating expenses to be within a range of $79.0 million to $83.0 million, excluding $59.0 million estimated for stock-based compensation expense, acquisition related amortization and restructuring

For 2024, GAAP and non-GAAP annualized effective tax rate with IRA benefit, excluding discrete items, is expected to be within a range of 17.0% to 19.0%.

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

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