Enphase Energy: 2Q Earnings Snapshot
Jul. 31, 2018
PETALUMA, Calif. (AP) _ Enphase Energy Inc. (ENPH) on Tuesday reported a loss of $3.7 million in its second quarter.
The Petaluma, California-based company said it had a loss of 4 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 2 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The solar technology company posted revenue of $75.9 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $77.2 million.
For the current quarter ending in October, Enphase Energy said it expects revenue in the range of $76 million to $82 million.
Enphase Energy shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.95, rising sixfold in the last 12 months.