Solar inverter maker Enphase Energy forecast fourth-quarter revenue below Wall Street expectations on Tuesday due to weak demand in some markets, sending its shares down 9% after the bell.
Enphase's revenue in Europe dropped about 15% quarter-on-quarter as demand softened.
Enphase Energy Inc. ENPH is gearing up to report its third-quarter earnings after the market closes on Tuesday. Wall Street expects 77 cents per share and revenue of $391.98 million.
With interest rates coming down, this company could experience major tailwinds.
Enphase Energy (ENPH) reachead $91.64 at the closing of the latest trading day, reflecting a +0.08% change compared to its last close.
ENPH's Q3 results are expected to reflect dismal top-line performance due to continued weak demand in the United States and Europe. Restructuring and impairment charges might have hurt earnings.
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RBC Capital Markets analyst Christopher Dendrinos downgraded Enphase Energy, Inc. ENPH to Sector Perform from Outperform, lowering the price forecast to $100 from $125.
Enphase Energy (ENPH) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Enphase Energy Inc (NASDAQ:ENPH) is slumping in pre-market trading, last seen 1.8% lower after a bear note from RBC Capital Markets.
Enphase Energy's Q3 results are anticipated to benefit from the launch of IQ8X microinverters in Australia and extended warranties, driving sales and installations. A strong financial base and international expansion, particularly in high-growth markets, position Enphase well despite recent hardships in a high interest rate environment. Potential medium-term risks include U.S. inflation, slowing GDP growth, and federal debt limitations, which could impact Enphase's valuation and overall success.
The latest trading day saw Enphase Energy (ENPH) settling at $100.98, representing a +1.8% change from its previous close.