earnings
confidence high
sentiment neutral
materiality 0.75
Enphase Q2 rev $303.5M, GAAP EPS $0.08, non-GAAP $0.43; Q3 outlook $370-410M
Enphase Energy, Inc.
2024-Q2 EPS reported
-$0.04
revenue$566,797,000
- Revenue $303.5M, down 57% YoY from $711.1M; GAAP diluted EPS $0.08 vs $1.09 last year.
- Non-GAAP diluted EPS $0.43, down from $1.47; non-GAAP gross margin 47.1% (ex-IRA 41.0%).
- Shipped 1.4M microinverters, 120.2 MWh batteries; US revenue up 32% QoQ; channel inventory normalized.
- Q3 guidance: rev $370-410M, non-GAAP gross margin 47-50% (ex-IRA 39-42%), net IRA benefit $30-33M.