Home energy technology company Enphase (NASDAQ:ENPH) will be reporting earnings tomorrow after market hours. Here’s what investors should know.
Enphase missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $380.9 million, down 30.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA and EPS estimates.
Is Enphase a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Enphase’s revenue to grow 24.5% year on year to $376.8 million, a reversal from the 58.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.75 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Enphase has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Enphase’s peers in the electrical equipment segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Nextracker’s revenues decreased 4.4% year on year, beating analysts’ expectations by 3.6%, and LSI reported revenues up 35.5%, topping estimates by 14.3%. Nextracker traded up 24.3% following the results while LSI was also up 11.7%.
Read our full analysis of Nextracker’s results here and LSI’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Enphase is down 15.6% during the same time and is heading into earnings with an average analyst price target of $88.10 (compared to the current share price of $60.40).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.