Enphase Energy: 3Q Earnings Snapshot
PETALUMA, Calif. (AP) _ Enphase Energy Inc. (ENPH) on Tuesday reported a loss of $3.5 million in its third quarter.
The Petaluma, California-based company said it had a loss of 3 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.
The solar technology company posted revenue of $78 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $79.3 million.
For the current quarter ending in December, Enphase Energy said it expects revenue in the range of $80 million to $90 million.
Enphase Energy shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.15, more than tripling in the last 12 months.