8-K
filed October 26, 2023, 7:59 PM ET
ticker ENPH
CIK 0001463101
earnings
confidence high
sentiment negative
materiality 0.85
Enphase Q3 rev $551M (-22.5% QoQ), EPS $0.80; guides Q4 $300-350M on weak Europe demand
Enphase Energy, Inc.
2024-Q3 EPS reported
$2.92
revenue$1,988,216,000
- Q3 revenue $551.1M vs $711.1M QoQ and $634.7M YoY; GAAP diluted EPS $0.80, non-GAAP $1.02.
- Q4 revenue guidance slashed to $300-350M (down 36-46% QoQ) on high distributor inventory and softening demand in Europe and US.
- Europe revenue fell 34% QoQ; US down 16%; macroeconomic conditions and inventory bloat cited.
- Non-GAAP gross margin 48.4% (up 220bps QoQ) helped by net IRA benefit of 2.6%; operating income $167.6M non-GAAP.
- Ended Q3 with $1.78B cash; repurchased $110M in stock; Q3 operating cash flow $145.9M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Enphase Energy, Inc. reported Q3 2023 results: revenue 551.1 million, net income 114.0 million, EPS 0.80.
- Period
- Q3 2023
- Revenue
- 551.1 million
- Net income
- 114.0 million
- EPS
- 0.80
- Result
- reported results
Exact text from the filing
We reported quarterly revenue of $551.1 million in the third quarter of 2023, along with 48.4% for non-GAAP gross margin.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Enphase Energy, Inc. reported Q3 2023 results: revenue 551.1 million, net income 114.0 million, EPS 0.80.
- Period
- Q3 2023
- Revenue
- 551.1 million
- Net income
- 114.0 million
- EPS
- 0.80
- Result
- reported results
Exact text from the filing
GAAP net income of $114.0 million; non-GAAP net income of $141.8 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Enphase Energy, Inc. reported Q3 2023 results: revenue 551.1 million, net income 114.0 million, EPS 0.80.
- Period
- Q3 2023
- Revenue
- 551.1 million
- Net income
- 114.0 million
- EPS
- 0.80
- Result
- reported results
Exact text from the filing
today financial results for the third quarter of 2023, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $551.1 million in the third quarter of 2023, along with 48.4% for non-GAAP gross margin. We shipped 3,905,239 microinverters, or approximately 1,585.6 megawatts DC, and 86.2 megawatt hours of
View on SEC.gov
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