Enphase Energy Inc reports results for the quarter ended June 30 - Earnings Summary

• Enphase Energy Inc ENPH.OQ reported quarterly adjusted earnings of 69 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 43 cents. The mean expectation of twenty eight analysts for the quarter was for earnings of 62 cents per share. Wall Street expected results to range from 55 cents to 70 cents per share.

• Revenue rose 19.7% to $363.15 million from a year ago; analysts expected $359.66 million.

• Enphase Energy Inc's reported EPS for the quarter was 28 cents​.

• The company reported quarterly net income of $37.05 million.

• Enphase Energy Inc shares had risen by 0.0% this quarter and lost 42.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 19.8% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 12 "strong buy" or "buy," 13 "hold" and 12 "sell" or "strong sell." The average consensus recommendation for the renewable energy equipment & services peer group is "buy."

• Wall Street's median 12-month price target for Enphase Energy Inc is $44.70, about 11.3% above its last closing price of $39.66

This summary was machine generated from LSEG data July 22 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)