Enphase Energy down on results miss, quarterly revenue forecast below estimates
ReutersApr 22, 2025 9:20 PM
Solar inverter maker Enphase Energy ENPH.O falls nearly 11% at $47.58 after the bell
Company forecasts Q2 revenue between $340 million and $380 million, the midpoint of which is below analysts' expectations of $376 million, per data compiled by LSEG
Also posts Q1 revenue and profit below estimates
Posts adjusted earnings of 68 cents compared to analysts' estimate of 70 cents
Qtrly revenue came in at $356.1 million, missing estimates of $360.9 million
Weakening demand and a metering reform introduced in 2023 in top U.S. market California has dented demand for ENPH's inverters used in residential solar units
As of last close, stock down 22% so far this year
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