Enphase Energy Earnings: Here’s Why Investors are Not Happy Now
Enphase Energy Inc (NASDAQ:ENPH) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.80%.
Enphase Energy Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.25 in the quarter versus EPS of $-5.38 in the year-earlier quarter.
Revenue: Rose 7.04% to $45.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.25 per share. By that measure, the company missed the mean analyst estimate of $-0.23. It beat the average revenue estimate of $45.13 million.
Quoting Management: “We are pleased with our first quarter results and are off to a strong start for 2013. During a seasonally softer portion of the year, revenue came in at the high end of our guidance and continues to demonstrate healthy top line growth on a year-over-year basis,” commented Paul Nahi, CEO of Enphase. “Additionally, we improved our gross margins year-over-year, while maintaining tight control on our operating expenses, keeping them flat on a sequential basis.”
Key Stats (on next page)…