financetom
Business
financetom
/
Business
/
Enphase forecasts Q1 revenue above expectations, shares rise
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Enphase forecasts Q1 revenue above expectations, shares rise
Feb 4, 2025 7:41 PM

(Reuters) -Solar inverter maker Enphase Energy forecast first-quarter revenue above market estimates on Tuesday, after robust demand helped it post a better-than-expected fourth-quarter operating profit, sending its shares up about 6% after the bell.

The solar energy company forecast first-quarter revenue to be in the range of $340 million to $380 million, compared with analysts' expectations of $338.5 million, according to data compiled by LSEG.

The company said the forecast included shipments of 150-170 megawatt hours of IQ Batteries, which are used to store excess solar energy for later use, as well as about $50 million of safe harbor revenue, which is any sales made to customers who plan to install the inventory over more than one year.

"Stock was up in after-market, but this (inclusion of 'safe harbor' revenue in Q1 guide) may be frowned upon as the Street fully digests it," GLJ Research LLC analyst Gordon L. Johnson said in a note.

In the U.S., Enphase's biggest market, revenue rose 6% sequentially due to higher microinverter sales in the quarter.

The Fremont, California-based company's adjusted net operating income was $120.4 million for the quarter ending Dec. 31, ahead of analysts' average estimate of $100.4 million, according to data compiled by LSEG.

Enphase Energy is planning to move its battery cell manufacturing out of China to avoid tariffs imposed by U.S. President Donald Trump, Bloomberg News reported on Tuesday.

"We need to be making cell packs outside of China and that's what we are going to be focusing on the next year," CEO Badri Kothandaraman said in an interview with Bloomberg News, without specifying where the company would move its operations.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Psyence Biomed Enters Into Agreement To Acquire Stake In Psylabs
BRIEF-Psyence Biomed Enters Into Agreement To Acquire Stake In Psylabs
Sep 19, 2024
Sept 19 (Reuters) - Psyence Biomedical Ltd ( PBM ): * PSYENCE BIOMED ENTERS INTO AGREEMENT TO ACQUIRE STAKE IN PSYLABS * PSYENCE BIOMEDICAL ( PBM ): TO ACQUIRE 11.13% STAKE IN PRIVATELY-HELD PSYLABS Source text for Eikon: Further company coverage: ...
Update On TD Bank Group; Also Details Other Senior Exec Team Updates
Update On TD Bank Group; Also Details Other Senior Exec Team Updates
Sep 19, 2024
08:43 AM EDT, 09/19/2024 (MT Newswires) -- Shares in TD Bank Group were at last look up 0.66% in US premarket as Chief Executive Officer, Bharat Masrani, announced Thursday his intention to retire on April 10, 2025, after 38 years at the Bank and more than a decade as CEO. In line with TD Bank Group's succession plan, the TD...
POET Technologies and Mitsubishi Electric to Develop Optical Engines for AI Networks
POET Technologies and Mitsubishi Electric to Develop Optical Engines for AI Networks
Sep 19, 2024
08:33 AM EDT, 09/19/2024 (MT Newswires) -- POET Technologies ( POET ) , on Thursday said it has will collaborate with Mitsubishi Electric to develop integrated optical engine chipsets for 3.2T pluggable transceivers, a product required for optical connectivity in the artificial intelligence networking market. POET and Mitsubishi Electric will jointly support product demonstrations with major customers. The two companies...
Kratos Defense Stock Hit New 52-Week Highs On Wednesday: What Happened?
Kratos Defense Stock Hit New 52-Week Highs On Wednesday: What Happened?
Sep 19, 2024
Kratos Defense & Security Solutions Inc shares hit new 52-week highs on Wednesday on what appeared to be continued strength from an U.S. Air Force award announced Tuesday. The stock also got a boost from strength across broader markets following the Federal Reserve’s decision on rates. What To Know: Kratos Defense shares reached new 52-week highs on Wednesday, a day...
Copyright 2023-2025 - www.financetom.com All Rights Reserved