ENPH

A month has gone by since the last earnings report for Enphase Energy (ENPH). Shares have added about 9.5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Enphase Energy due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Enphase Energy, Inc. before we dive into how investors and analysts have reacted as of late. Enphase Energy Q2 Earnings Match Estimates, Revenues Decline Y/YEnphase Energy, Inc. reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.Including one-time adjustments, the company posted GAAP earnings of 27 cents per share, down from 28 cents recorded in the year-ago quarter. Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.The year-over-year plunge was mainly due to weaker sales in the United States. The company’s adjusted gross margin decreased 180 basis points year over year to 46.8%.Adjusted operating expenses rose 2.6% year over year to $79.8 million. The adjusted operating income totaled $56.7 million, down 42.5% from the year-ago quarter. ENPH’s shipments amounted to approximately 1.59 million microinverters and 113.8 megawatt-hours (MWh) of Enphase IQ Batteries.More than 25,000 installers worldwide were certified to install IQ Batteries at quarter-end, up from more than 24,000 in the preceding quarter. Enphase Energy had $529.3 million in cash and cash equivalents as of June 30, 2026 compared with $474.3 million as of Dec. 31, 2025.The net cash flow from operating activities was $143.2 million during the first six months of 2026 compared with $75 million in the prior-year period. For the third quarter of 2026, ENPH expects revenues in the range of $290-$320 million. The Zacks Consensus Estimate for third-quarter revenues is pegged at $315.9 million, which is at the higher end of the company’s guided range.Enphase Energy expects to ship IQ batteries in the range of 130-150 MWh in the third quarter.Adjusted operating expenses are expected between $76 million and $80 million. This excludes approximately $44 million estimated for stock-based compensation expenses, acquisition-related costs and amortization, as well as restructuring and asset impairment charges.The adjusted gross margin is anticipated in the range of 44-47%, excluding stock-based compensation expenses and acquisition-related amortization. It turns out, fresh estimates have trended downward during the past month. The consensus estimate has shifted -13.14% due to these changes. At this time, Enphase Energy has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for value investors. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Enphase Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

FREMONT, Calif., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced that its Board of Directors, excluding Benjamin Kortlang, unanimously voted to retain Mr. Kortlang as a member of the Board of Directors. The decision followed a recommendation by the Nominating and Corporate Governance Committee, excluding Mr. Kortlang, in accordance with Enphase Energy’s Corporate Governance Guidelines. Following a thorough review, the Board, excluding Mr. Kortlang, unanimously reaffirmed its support and highlighted the attributes he brings to the Board: Deep knowledge of Enphase Energy, its technology roadmap, and strategic priorities Experience in capital markets and clean energy investing, together with significant understanding of the residential and commercial energy markets, customer adoption trends, and competitive dynamics Experience in energy and data center infrastructure supporting Enphase Energy’s IQ® SST expansion into AI data centers Unwavering commitment, with perfect attendance at all Board and Committee meetings for the past five years The Board recognizes that the 2026 director vote and stockholder feedback reflect a desire for continued evolution in governance and Board composition. Accordingly, the following actions are underway: In June 2026, Shanker Trivedi was appointed to the Board, adding deep expertise in data centers, cloud infrastructure, and high-performance computing Joseph Malchow will become Chair of the Nominating and Corporate Governance Committee effective immediately, bringing his board and investment experience to the role Mr. Kortlang will continue to serve on the Audit Committee and Strategic Committee, where his experience supports oversight of Enphase Energy’s financial and strategic priorities Enphase Energy will continue active stockholder engagement and evaluate additional governance enhancements in the best interests of stockholders “The Board approached this review with great care and took the stockholder vote seriously,” said Steve Gomo, chair of Enphase Energy’s Board of Directors. “We concluded that Mr. Kortlang’s experience, judgment, independence, and contributions remain valuable to the Board and the company. We also believe Mr. Malchow is well positioned to lead the Nominating and Corporate Governance Committee as we continue to strengthen our governance practices.” About Enphase Energy, Inc. Enphase Energy, a global energy technology company based in Fremont, CA, is the world's leading supplier of microinverter-based solar and battery systems, EV chargers, home energy management systems, and virtual power plant (VPP) solutions. Enphase products enable people to harness the sun to make, use, save, and sell their own power, all controlled through the Enphase App. The company revolutionized the solar industry with its microinverter-based technology and has shipped approximately 89.4 million microinverters, with approximately 5.3 million Enphase-based systems deployed in over 165 countries. For more information, visit https://investor.enphase.com. ©2026 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. Other names are for informational purposes and may be trademarks of their respective owners. Forward-Looking Statements This press release may contain forward-looking statements, including statements related to its corporate governance enhancements. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law. Contact: Zach FreedmanEnphase Energy, Inc.Investor [email protected]

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Enphase Energy stock has delivered a steep 76.1% decline over the past five years, yet current valuation checks now suggest the shares trade at a premium, with both the Discounted Cash Flow (DCF) intrinsic value estimate and market multiples pointing in the same direction. The share price is down 76.1% over five years, which puts extra focus on whether the recent recovery phase is supported by the underlying valuation. Recent work on U.S. based manufacturing and the Kestrel ASIC platform can support expectations for future cash flows, while any disappointment around adoption of these technologies or returns on new capacity may weigh on what investors are willing to pay. Enphase Energy scores 2 out of 6 on broader valuation checks, which leans toward the shares looking expensive rather than a clear bargain. The issue now is whether Enphase Energy's current market price already reflects the value of its U.S. manufacturing push and power electronics platform, or if there is still a margin of safety for new investors. Find out why Enphase Energy's 29.1% return over the last year is lagging behind its peers. The Discounted Cash Flow (DCF) model uses Enphase Energy's projected future cash flows to estimate what the stock could be worth today. For Enphase Energy, the model is built on last twelve month free cash flow of about $156.8 million and assumes that cash flows grow over time rather than shrink. Based on these inputs, the DCF model produces an estimated intrinsic value of about $34 per share. This is below the current share price, which implies the stock trades at roughly a 22.7% premium to the model's fair value. Recent news around Enphase Energy reinforcing U.S. manufacturing and rolling out its Kestrel ASIC platform helps explain why the market is willing to pay more for the stock despite this gap. Overall, the DCF work suggests Enphase Energy stock currently screens as overvalued relative to its modelled cash flows. Our Discounted Cash Flow (DCF) analysis suggests Enphase Energy may be overvalued by 22.7%. Discover 51 high quality undervalued stocks or create your own screener to find better value opportunities. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Enphase Energy. The P/E ratio suits Enphase Energy because it ties the share price directly to the earnings that its power electronics and solar businesses produce today. Enphase Energy trades on a P/E of about 41.3x, which is below the wider semiconductor industry average of roughly 52.6x and well under a peer average near 93.9x. On simple comparisons, that might look like a discount to the broader group. The valuation model used here, which fine tunes the benchmark for Enphase Energy based on its size, margins and risk profile, points to a fair P/E of about 37.2x. The current 41.3x multiple therefore sits above that tailored fair level and suggests investors are paying a premium to what the model implies is reasonable for the stock. On the P/E multiple alone, Enphase Energy stock appears overvalued relative to the level suggested by its tailored fair ratio. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where the Enphase Energy valuation puzzle leaves off by setting out what kind of future growth, margins and earnings would need to unfold for the stock to be worth materially more or materially less than today's price. Each Narrative links Enphase Energy's potential fair value to a particular combination of catalysts and risks, allowing you to see over time which version of the story is playing out in the real business. Community views on Enphase Energy are split, with one camp focused on upside from product and market expansion while the other leans into policy and competition risks. Bull case: 42% undervalued Read the full Bull Case to see why Enphase Energy could be undervalued Bear case: 55% overvalued Read the full Bear Case to see why Enphase Energy could be overvalued Do you think there's more to the story for Enphase Energy? Head over to our Community to see what others are saying! For Enphase Energy, both the Discounted Cash Flow (DCF) intrinsic value estimate and the tailored P/E work point in the same direction. The stock currently screens as overvalued rather than offering an obvious margin of safety. Broader valuation checks are also weak, which supports the idea that expectations around U.S. manufacturing and the Kestrel ASIC platform are already baked into the price. The key question from here is whether Enphase Energy can deliver the cash flows and earnings that the current premium is implying, or whether sentiment cools if those expectations prove too optimistic. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ENPH. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

SolarEdge Technologies, Inc. SEDG reported a second-quarter 2026 adjusted earnings of 6 cents per share, which beat the Zacks Consensus Estimate of 4 cents by 50%. The result marked a sharp improvement from the year-ago loss of 81 cents per share.Barring one-time adjustments, the company incurred a GAAP loss of 50 cents per share compared with a GAAP loss of $2.13 in the year-ago period. Revenues increased 19.6% year over year to $346.2 million and surpassed the consensus estimate of $343 million by 1.3%. Strong European demand and U.S. commercial and industrial activity offset softness in the U.S. residential market. Battery volume reached 426 megawatt-hours. SolarEdge Technologies, Inc. price-consensus-eps-surprise-chart | SolarEdge Technologies, Inc. Quote Adjusted gross profit rose to $98.7 million from $36.9 million in the prior-year quarter. The adjusted gross margin expanded to 28.6% from 13.1%, representing the sixth consecutive quarter of year-over-year gross margin improvement.The reported margin included a $13.3 million benefit related to tariff matters under the International Emergency Economic Powers Act. Even with that contribution, the widening margin and stronger revenue base helped SolarEdge return to adjusted operating profitability for the first time since the second quarter of 2023.Adjusted operating expenses were $88.5 million compared with $85.2 million a year earlier. However, the improvement in gross profit more than offset the modest increase in expenses, resulting in adjusted operating income of $10.2 million.SEDG had recorded an adjusted operating loss of $48.3 million in the prior-year period. SEDG recognized revenues from approximately 62,600 inverters during the quarter, up from 50,500 in the first quarter. Optimizer volume increased sequentially to nearly 2.49 million units from roughly 2.44 million.Battery volume climbed to 426 megawatt-hours from 331 megawatt-hours in the preceding quarter. The sharp sequential increase supports the strong battery revenue performance and highlights the product category’s growing importance within SEDG’s sales mix. Cash and cash equivalents reached $527.3 million as of June 30, 2026, up from $455.1 million at the end of 2025.As of the same date, total long-term liabilities were $971.1 million compared with $951.2 million as of Dec. 31, 2025.The net cash provided by operating activities in the first six months of 2026 amounted to $35.84 million compared with $26.02 million in the year-ago period. For the third quarter of 2026, the company expects revenues to be between $310 million and $340 million. The midpoint of $325 million implies a sequential decline from the second-quarter level. The Zacks Consensus Estimate is pegged at $377.18 million, higher than the company’s guided range.Adjusted gross margin is projected between 22% and 26%, while adjusted operating expenses are expected in the range of $86 million to $91 million. The guidance excludes potential third-quarter tariff refunds and assumes no significant revenue pull-forward. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. First Solar, Inc. FSLR reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter. FSLR’s net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.ENPH’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million. Canadian Solar Inc. CSIQ is slated to report second-quarter 2026 results on Aug. 27, before market open. The Zacks Consensus Estimate for CSIQ’s second-quarter loss is pegged at $1.01 per share, indicating a year-over-year decline of 90.6%.The Zacks Consensus Estimate for CSIQ’s second-quarter sales is pegged at $1.17 billion, implying a year-over-year decline of 31.2%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report First Solar, Inc. (FSLR) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

First Solar, Inc. FSLR reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter, aided by gross-margin expansion and a stronger mix of U.S.-made modules. Net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.Contracted backlog stood at 45.1 gigawatts, valued at about $13.6 billion, through 2030. First Solar, Inc. price-consensus-eps-surprise-chart | First Solar, Inc. Quote In the second quarter, the company’s gross profit was $605 million, which rose 21% from $499.9 million in the year-ago quarter.Total operating expenses jumped 11.8% year over year to $154.6 million.FSLR reported an operating income of $450.4 million compared with $361.6 million in the year-ago quarter. First Solar had $1.69 billion in cash and cash equivalents as of June 30, 2026, down from $2.80 billion as of Dec. 31, 2025.The company had no long-term debt as of the same date compared with $282.6 million as of Dec. 31, 2025.Net cash used in operating activities amounted to $359.8 million during the first six months of 2026 compared with $458.4 million in the year-ago period. FSLR still expects its sales to be in the range of $4.9-$5.2 billion. The Zacks Consensus Estimate for sales is pegged at $5.07 billion, which lies above the midpoint of the company’s guided range.First Solar still expects gross profit to be in the band of $2.4-$2.6 billion. Its operating expenses are anticipated to be in the $610-$635 million range.First Solar projects module shipments to be in the band of 17-18.2 gigawatts. The company expects its 2026 capital expenditure to be in the range of $0.8-$1 billion. First Solar currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million. SolarEdge Technologies, Inc. SEDG is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s second-quarter earnings is pegged at four cents per share.The Zacks Consensus Estimate for SEDG’s second-quarter sales is pegged at $341.7 million, implying a year-over-year improvement of 18%.Array Technologies ARRY is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for ARRY’s second-quarter earnings is pegged at 11 cents per share.The Zacks Consensus Estimate for ARRY’s second-quarter sales is pegged at $323.8 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report Array Technologies, Inc. (ARRY) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.Including one-time adjustments, the company posted GAAP earnings of 27 cents per share, down from 28 cents recorded in the year-ago quarter. Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.The year-over-year plunge was mainly due to weaker sales in the United States. Enphase Energy, Inc. price-consensus-eps-surprise-chart | Enphase Energy, Inc. Quote The company’s adjusted gross margin decreased 180 basis points year over year to 46.8%.Adjusted operating expenses rose 2.6% year over year to $79.8 million. The adjusted operating income totaled $56.7 million, down 42.5% from the year-ago quarter. ENPH’s shipments amounted to approximately 1.59 million microinverters and 113.8 megawatt-hours (MWh) of Enphase IQ Batteries.More than 25,000 installers worldwide were certified to install IQ Batteries at quarter-end, up from more than 24,000 in the preceding quarter. Enphase Energy had $529.3 million in cash and cash equivalents as of June 30, 2026 compared with $474.3 million as of Dec. 31, 2025.The net cash flow from operating activities was $143.2 million during the first six months of 2026 compared with $75 million in the prior-year period. For the third quarter of 2026, ENPH expects revenues in the range of $290-$320 million. The Zacks Consensus Estimate for third-quarter revenues is pegged at $315.9 million, which is at the higher end of the company’s guided range.Enphase Energy expects to ship IQ batteries in the range of 130-150 MWh in the third quarter.Adjusted operating expenses are expected between $76 million and $80 million. This excludes approximately $44 million estimated for stock-based compensation expenses, acquisition-related costs and amortization, as well as restructuring and asset impairment charges.The adjusted gross margin is anticipated in the range of 44-47%, excluding stock-based compensation expenses and acquisition-related amortization. Enphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. First Solar, Inc. FSLR is scheduled to report second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for FSLR’s earnings is pegged at $2.74 per share, which suggests a year-over-year decline of 13.8%.The consensus estimate for sales stands at $1.06 billion, which indicates a fall of 3.3%.SolarEdge Technologies SEDG is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s earnings is pegged at 4 cents per share, which calls for a year-over-year surge of 104.9%.The consensus estimate for sales is pegged at $341.7 million, which indicates an improvement of 18%.Sunrun Inc. RUN is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for RUN’s earnings is pegged at 8 cents per share, which suggests a year-over-year decline of 92.5%.The consensus estimate for sales is pegged at $722.9 million, which calls for a jump of 27%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report First Solar, Inc. (FSLR) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report Sunrun Inc. (RUN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: $291.9 million for Q2 2026. Microinverters Shipped: 1.59 million units. Batteries Shipped: 113.8 megawatt hours. Free Cash Flow: $25.9 million. GAAP Gross Margin: 60%. Non-GAAP Gross Margin: 46.8%. GAAP Operating Expense: 42.3% of revenue. Non-GAAP Operating Expense: 27.3% of revenue. GAAP Operating Income: 17.7% of revenue. Non-GAAP Operating Income: 19.4% of revenue. Net Income (Non-GAAP): $61.5 million. Net Income (GAAP): $36.1 million. Cash, Cash Equivalents, and Marketable Securities: $937.7 million. Q3 Revenue Guidance: $290 million to $320 million. Q3 Battery Shipments Guidance: 130 to 150 megawatt hours. Q3 Safe Harbor Revenue Guidance: $75 million. Q3 Gross Margin Guidance (GAAP): 42% to 45%. Q3 Gross Margin Guidance (Non-GAAP): 44% to 47%. Warning! GuruFocus has detected 5 Warning Signs with ENPH. Is ENPH fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Enphase Energy Inc (NASDAQ:ENPH) reported a quarterly revenue of $291.9 million, with a 3% increase in global Q2 revenue compared to Q1. The company achieved a GAAP gross margin of 60% and a non-GAAP gross margin of 46.8%, indicating strong profitability. Enphase Energy Inc (NASDAQ:ENPH) is expanding its product offerings with the launch of the fifth-generation IQ battery and the GaN-based IQ 9 microinverter, which are expected to enhance market competitiveness. The company is seeing significant growth in Europe, with a 35% increase in revenue and a 30% increase in sell-through, driven by strong performance in solar and battery markets. Enphase Energy Inc (NASDAQ:ENPH) is making progress in the data center market with its IQ Solid-State Transformer (SST), which is expected to provide high efficiency and reliability. The US revenue declined 3% sequentially, with a 7% decrease in US sell-through, reflecting continued pressure from higher interest rates and the expiration of the 2025 tax credit. The company's Global Customer Service NPS decreased to 80% in the second quarter from 82% in the first quarter. Enphase Energy Inc (NASDAQ:ENPH) is experiencing cautious distributor behavior amid broader macroeconomic uncertainty, including interest rates. The company is facing challenges in the US residential solar market, with industry-wide permits and upstream sales activity remaining about 30% below prior year levels. Enphase Energy Inc (NASDAQ:ENPH) is still under shipping relative to sell-through, indicating potential inventory management issues. Q: How is Enphase Energy balancing margin capture versus market share adoption for the Solid-State Transformer (SST) product, considering the potential for high gross margins with 45x credits? A: Badrinarayanan Kothandaraman, President and CEO, explained that Enphase Energy aims to be extremely competitive while focusing on their value drivers such as faster response times and modularity. The SST's ability to respond within sub-milliseconds allows battery storage to move to the data center's black space, which is a key differentiator. The company is finalizing details on the 45x production tax credits, which will help maintain high profitability. Q: What is driving the significant safe harbor revenue in the third and fourth quarters, and is this indicative of market share gains among third-party owners (TPOs)? A: Badrinarayanan Kothandaraman noted that strong relationships with TPO partners, some of whom are supported by strong balance sheets, are driving the safe harbor revenue. Enphase has executed agreements totaling approximately $1.1 billion, with $202 million under the 5% ITC safe harbor method and $878.6 million under the physical work test method. This reflects confidence in Enphase's strategy and partnerships. Q: Why is Enphase Energy under-shipping in the third quarter despite improving demand, and what is the outlook for the fourth quarter? A: Badrinarayanan Kothandaraman explained that the company is cautious and aims to maintain healthy channel inventory. The core revenue is expected to increase by approximately 10% from Q2 to Q3, with growth primarily from the US market. The company is focusing on ensuring a healthy channel inventory and expects to see continued growth in Q4. Q: How is Enphase Energy addressing the potential impact of the FCC's plan to ban Chinese inverters in the US, particularly in the commercial segment? A: Badrinarayanan Kothandaraman highlighted opportunities in the small commercial segment, with expected revenue of approximately $10 million in Q3. Enphase has introduced new products, such as the IQ9N and IQ9S-3P microinverters, to address the 3-phase market. The company is also focusing on small commercial storage, which presents a significant opportunity. Q: What actions is Enphase Energy taking to drive battery demand, and how does pricing play a role? A: Badrinarayanan Kothandaraman stated that Enphase has made pricing adjustments in Europe and is generating organic demand from its installed base. In the US, the company is leveraging its meter collar qualification and Propel program, which has a 75% battery attach rate. The upcoming fifth-generation battery, with higher energy density and lower cost, is expected to drive further demand. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Enphase Energy, Inc. ENPH used its second-quarter 2026 earnings call to frame storage, financing and commercial expansion as the main bridges to renewed growth. The company reported earnings of 46 cents per share on revenues of $291.9 million. Enphase Energy, Inc. price-consensus-eps-surprise-chart | Enphase Energy, Inc. Quote Management remained cautious on near-term U.S. residential demand but pointed to improving sell-through, stronger European battery adoption and a widening product pipeline. President and CEO Badri Kothandaraman said third-quarter revenues are expected between $290 million and $320 million, with the midpoint implying about 5% sequential growth. The outlook includes roughly $75 million of safe harbor revenues and battery shipments of 130 to 150 megawatt hours. Management said the company was more than 70% booked to the midpoint. Kothandaraman expects global sell-through to rise 10% sequentially, although Enphase plans to modestly under ship demand to reduce slightly elevated microinverter channel inventory. U.S. revenues declined 3% sequentially in the second quarter, while U.S. sell-through fell 7%. Excluding one-time first-quarter orders, sell-through was approximately flat. Kothandaraman said third-party permit and upstream sales indicators improved in June, while Enphase’s Solargraf platform showed higher proposal activity in the second quarter. In Q&A, a Goldman Sachs analyst pressed management on why shipments would trail improving demand. Kothandaraman said the roughly $15 million under-shipment assumption reflects caution and channel discipline rather than a weaker sell-through forecast. European revenues increased 35% sequentially, while sell-through rose 30%, supported by solar and battery growth across the Netherlands, France and Germany. Kothandaraman highlighted a battery-led model built around self-consumption, direct homeowner marketing and Enphase’s installed base. Battery activations rose about 102% sequentially in the Netherlands and 34% in France. A Craig-Hallum analyst asked about battery demand elasticity. Kothandaraman said pricing is only one lever, alongside homeowner events, lead conversion, utility-qualified meter collars and financing programs that support higher battery attachment. Propel, a third-party ownership offering distributed through Greentech Renewables, has expanded to six states and about 290 participating installers. Kothandaraman said originations are running near 200 per week, with roughly 75% battery attachment. SolSource aims to reach 12 states in the third quarter and 500 weekly originations by year-end. Enphase has executed about $1.1 billion of safe harbor agreements year to date. Management expects Physical Work Test-related revenues to begin in 2028 and develop roughly linearly as projects are installed. Management expects initial shipments of the fifth-generation IQ Battery G5 in the fourth quarter. The stackable platform is designed for 50% higher energy density and about 40% lower cost per kilowatt hour than the fourth-generation product. The company also began shipping its IQ9S-3P commercial microinverter and expects U.S. small-commercial revenues of approximately $10 million in the third quarter. Kothandaraman positioned commercial solar, the planned IQ Vault battery and bidirectional EV charging as adjacent growth areas that extend Enphase beyond residential systems. The IQ solid-state transformer remained the call’s longest-term strategic focus. Management is targeting a fully working system later in 2026, customer pilots in 2027 and commercial shipments in 2028. Kothandaraman said several customer discussions have progressed to RFI and RFP stages, representing potential multi-gigawatt demand. The platform targets direct conversion of medium-voltage AC to 800-volt DC for AI data centers. In Q&A, management emphasized sub-millisecond response time, modular redundancy, U.S. manufacturing and a flexible architecture as differentiators. Executives avoided specific pricing or margin targets. The call balanced near-term discipline with broader expansion. Management’s immediate priorities are healthier channel inventory, higher battery volumes, European conversion and financing-led U.S. demand. At the same time, Enphase is investing in commercial energy systems and data center power infrastructure, extending its GaN-based technology platform into larger markets. Enphase currently carries a Zacks Rank #3 (Hold), indicating a neutral near-term earnings estimate revision outlook.  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Its Value Score of D, Growth Score of D, Momentum Score of F and VGM Score of F point to weak style characteristics. Zacks Style Scores work best alongside the Rank, with A or B grades preferred. The current combination warrants caution, though the Zacks Rank can change as analysts revise estimates following the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Enphase Energy, Inc.? Here are five stocks we like better. Second-quarter revenue rose 3% sequentially to $291.9 million, supported by a 35% increase in European revenue that offset a 3% decline in the U.S. GAAP EPS was $0.27, while non-GAAP EPS was $0.46. The U.S. residential solar market remains pressured, with year-over-year sell-through down 34% due to high interest rates and the expiration of the 25D tax credit. Enphase expects global sell-through to improve 10% sequentially in the third quarter and forecasts revenue of $290 million to $320 million. Enphase is expanding its product pipeline, with the fifth-generation IQ Battery G5 expected by the end of 2026, a commercial IQ Vault 80 battery planned for early 2027, and its IQ Solid-State Transformer targeting AI data centers with commercial shipments expected in 2028. Solar Flare: A Perfect Storm for Solar Stocks Enphase Energy (NASDAQ:ENPH) reported second-quarter 2026 revenue of $291.9 million, up 3% sequentially, as growth in Europe offset softer U.S. demand. The company shipped 1.59 million microinverters and 113.8 megawatt-hours of batteries during the quarter and generated $25.9 million in free cash flow. Revenue included $84.3 million from safe harbor sales, compared with $34.5 million in the first quarter. Enphase defines safe harbor revenue as sales to customers planning to install inventory over more than one year. The company said it ended the quarter with normal battery channel inventory and slightly elevated microinverter inventory. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Is AI Really Eating Software? A Wall Street Veteran Says No—Here’s Why On a GAAP basis, Enphase reported gross margin of 60%, operating income of $51.5 million and diluted earnings per share of $0.27. GAAP gross margin benefited from 15.6 percentage points related to tariff refunds received during the quarter. On a non-GAAP basis, gross margin was 46.8%, operating income was $56.7 million and diluted earnings per share was $0.46. U.S. revenue declined 3% from the first quarter. Excluding safe harbor revenue, Enphase said U.S. revenue declined primarily because it intentionally undershipped into the distribution channel. U.S. sell-through fell 7% sequentially, although the company said sell-through was approximately flat after excluding one-time orders in the first quarter that did not recur in the second quarter. → This Tiny AI Supplier Could Be More Important Than the Chipmakers ENPH Stock Soars 50% on Earnings Beat—Is It a Data Center Play? Year over year, U.S. sell-through declined 34%, which Chief Executive Officer Badri Kothandaraman attributed to higher interest rates and market transition after the expiration of the 25D tax credit. He said third-party reports showed signs of stabilization in the residential solar market, including a 4% month-over-month increase in permits in June and a 5% rise in upstream sales activity. However, those measures remained about 30% below year-earlier levels. Enphase said residential battery attachment nationally remained near 40%, while commercial solar permit activity rose 36% year over year in June. Kothandaraman said future U.S. growth would be influenced by storage economics, commercial demand, financing availability and utility rates. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Europe was a brighter spot. Revenue in the region increased 35% sequentially, and sell-through rose 30%, supported by solar and battery demand across multiple markets. Battery activations in the Netherlands rose about 102% from the first quarter as export penalties and the planned end of net metering in late 2026 increased interest in self-consumption. France battery activations increased about 34%, while Germany saw microinverter and battery activations rise approximately 35% and 27%, respectively. The company said it is increasing homeowner events, direct marketing and internal sales efforts to pursue battery-retrofit opportunities in the Netherlands and France, where it has a combined installed base of nearly 900,000 Enphase customers. Enphase forecast third-quarter revenue of $290 million to $320 million, including about $75 million of safe harbor revenue. The midpoint represents approximately 5% growth from the second quarter. Management said it was more than 70% booked toward the midpoint of the forecast. The company expects global sell-through to rise 10% sequentially in the third quarter while maintaining modest undershipment into the channel, reflecting distributor caution amid interest-rate and macroeconomic uncertainty. Battery shipments are expected to range from 130 megawatt-hours to 150 megawatt-hours. For the quarter, Enphase expects GAAP gross margin of 42% to 45% and non-GAAP gross margin of 44% to 47%, each including an approximately two-percentage-point impact from reciprocal tariffs. The company said it has reduced battery pricing and may take further targeted actions to improve system economics and demand. Enphase also said it has executed year-to-date safe harbor agreements totaling about $1.1 billion, including $202 million under the 5% investment tax credit method and $878.6 million under the Physical Work Test method. Management said Physical Work Test revenue has not yet been recognized and is likely to begin in 2028, when related inventory is expected to be deployed. Enphase expects to begin initial shipments of its fifth-generation IQ Battery G5 before the end of 2026. The stackable AC-coupled platform uses 5-kilowatt-hour modules and can scale to 30 kilowatt-hours in one stack. Kothandaraman said the product is designed to provide 50% higher energy density than the prior generation at about 40% lower cost per kilowatt-hour. The company also plans to begin shipping its IQ Vault 80 commercial battery in the first quarter of 2027. The 80-kilowatt-hour, three-phase battery system is designed for 208-volt and 480-volt commercial applications and can scale to 2 megawatt-hours using up to 25 cabinets. Enphase launched its GaN-based IQ9N residential microinverter in June in the U.S. and selected European markets, and began shipping the IQ9S-3P commercial microinverter for 480-volt systems. Kothandaraman said the company expects about $10 million of U.S. small-commercial revenue in the third quarter. Meanwhile, Enphase said its IQ Solid-State Transformer, or IQ SST, remains on track for a fully working system later this year, customer pilots in 2027 and commercial shipments in 2028. The system is being designed for AI data centers, converting medium-voltage alternating current directly to 800-volt direct current. Management said customer discussions have advanced to request-for-information and request-for-proposal stages representing potential demand totaling multiple gigawatts. Chief Products Officer Raghu Belur said Enphase’s proposed SST architecture is intended to offer modularity, sub-millisecond response times, reliability and a U.S.-manufactured, FEOC-compliant supply chain. The company said it is also evaluating applications for the platform in utility-scale solar, storage and high-power DC fast charging. Enphase ended the quarter with $937.7 million in cash, cash equivalents and marketable securities, up from $930.6 million at the end of the first quarter. Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers. The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Enphase Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Enphase Energy (ENPH) came out with quarterly earnings of $0.46 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this solar technology company would post earnings of $0.43 per share when it actually produced earnings of $0.47, delivering a surprise of +9.3%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Enphase Energy, which belongs to the Zacks Solar industry, posted revenues of $291.85 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.11%. This compares to year-ago revenues of $363.15 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Enphase Energy shares have added about 18.6% since the beginning of the year versus the S&P 500's gain of 8.3%. While Enphase Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Enphase Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $315.89 million in revenues for the coming quarter and $2.10 on $1.22 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Solar is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Shoals Technologies Group (SHLS), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4. This solar energy equipment supplier is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Shoals Technologies Group's revenues are expected to be $157.95 million, up 42.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report Shoals Technologies Group, Inc. (SHLS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research