Enphase Energy slips after announcing job cuts, restructuring plans

Enphase Energy ENPH.O shares down 2% premarket to $38.66 after solar inverter maker announced job cuts as part of broader restructuring

ENPH said late Fri it will cut roughly 160 jobs, about 6% of its workforce, and move certain functions to lower-cost regions as part of a plan to streamline operations and improve profitability

In a letter to employees, CEO Badri Kothandaraman pointed to the impact of the federal 25D residential clean energy tax credit ending on Dec 31, which had provided a 30% credit for solar and other renewable energy systems

"We are aligning our cost structure to match current market conditions while staying disciplined against our financial operating model," Kothandaraman said

In Oct, ENPH issued a Q4 rev outlook below Wall Street expectations, citing negative effect from tariffs on its margins

Through Fri close, ENPH shares gained 23% to start 2026. Stock lost 53% last year

Of 36 analysts covering the stock, recommendation breakdown is 10 "strong buy" or "buy", 20 "hold" and 6 "sell" ratings; median PT $37, per LSEG