Enphase Energy (ENPH) Stock: Climbing On Earnings

Enphase Energy Inc (NASDAQ: ENPH) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company reported its financial results, blowing away expectations and exciting investors. Today, we’ll talk about:

  • The earnings report;
  • what we’re seeing from ENPH stock as a result; and
  • what we’ll be watching for ahead.

ENPH Announces Earnings

As mentioned above, Enphase Energy is having a great day in the market today after the company announced its financial results for the first quarter. As you could imagine, the results were positive, exciting investors. Here’s what we saw:

  • Net Income – In terms of net income, ENPH said that it produced $2.8 million for the quarter. This figure compared well to the loss the company reported one year ago. Net income also worked out to $0.02 per share.
  • Earnings – Once adjusted for non-recurring costs and stock option expense, earnings came in at $0.08 per share. These results came well ahead of analysts expectations. In fact, analysts were expecting for adjusted earnings to come in at $0.05 per share.
  • Revenue – Revenue for the quarter came in at $100.2 million. This figure again beat analyst expectations. Analysts expected that the company would generate $93.4 million in revenue.
  • Guidance – Finally, ENPH said that it esxpects for second quarter revenues to come in between $115 and $125 million. This figure shows that the company is guiding for strong growth ahead.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Enphase Energy, the news proved to be overwhelmingly positive.

After all, earnings reports are the most updated look that investors have with regard to a company’s financial position. This report showed a strong position as revenue and earnings continue to grow. So, it’s not surprising to see that excited investors are pushing the stock for the top.

As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:19), ENPH is trading at $12.84 per share after a gain of $2.80 per share or 27.89% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on ENPH. In particular, we’re interested in following the story surrounding the company’s continued work to expand revenue and value for investors. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!

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