We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enphase Energy (ENPH) to Post Q2 Earnings: What's in Store?
Read MoreHide Full Article
Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report its second-quarter 2023 results on Jul 27 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 13.22%. Enphase Energy has a trailing four-quarter earnings surprise of 19.47%, on average.
Factors to Note
Due to solid solar demand in the recent past, we expect Enphase to witness impressive microinverter sales in the second quarter. This may be further supported by its manufacturing capacity expansion in Romania started in the first quarter of 2023. This, along with the strong shipment of its batteries, must have boosted ENPH’s revenues in the soon-to-be-reported quarter.
Region-wise, with the residential solar and storage market growing rapidly in Europe, the region is likely to be a major contributor to Enphase’s second-quarter revenues. Moreover, second-quarter results are likely to reflect solid revenue contributions from the United States.
The Zacks Consensus Estimate for ENPH’s second-quarter revenues is pegged at $726.9 million, suggesting growth of 37.1% from the year-ago quarter.
The company started the shipment of Enphase-branded electric vehicle (EV) chargers from Flex Mexico in the second quarter, which is expected to boost its capacity and reduce costs. This, along with a strong top line across its product portfolio, may have contributed to its overall bottom line in the second quarter of 2023.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.27 per share. This indicates an improvement of 18.7% from the prior-year reported figure.
Our proven model predicts an earnings beat for Enphase Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: Enphase’s Earnings ESP is +0.88%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three solar companies you may also want to consider as these also have the right combination of elements to post an earnings beat this season:
SolarEdge Technologies (SEDG - Free Report) currently has an Earnings ESP of +4.91% and a Zacks Rank #3. The Zacks Consensus Estimate for SolarEdge’s second-quarter sales implies an improvement of 35.9% from the prior-year reported figure.
SEDG delivered an earnings surprise of 46.46% in the last reported quarter. Its second-quarter earnings estimates, pegged at $2.54 per share, imply an improvement of 167.4% from the year-ago quarter’s tally.
Sunrun (RUN - Free Report) currently has an Earnings ESP of +61.42% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter sales is pegged at $621.9 million, suggesting growth of 6.4% from the year-ago quarter’s tally.
Its second-quarter bottom-line estimates, pegged at a loss of 34 cents per share, call for a deterioration from the year-ago quarter’s loss of 6 cents. The estimate has decreased by a penny over the past 60 days.
Array Technologies (ARRY - Free Report) currently has an Earnings ESP of +0.92% and a Zacks Rank #3. The Zacks Consensus Estimate for Array’s second-quarter sales suggests growth of 4.9% from the prior-year reported figure.
Its second-quarter earnings estimates, pegged at 20 cents per share, indicate an improvement of 122.2% from the year-ago quarter’s tally. ARRY has a four-quarter earnings surprise of 229.86%, on average.
Image: Bigstock
Enphase Energy (ENPH) to Post Q2 Earnings: What's in Store?
Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report its second-quarter 2023 results on Jul 27 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 13.22%. Enphase Energy has a trailing four-quarter earnings surprise of 19.47%, on average.
Factors to Note
Due to solid solar demand in the recent past, we expect Enphase to witness impressive microinverter sales in the second quarter. This may be further supported by its manufacturing capacity expansion in Romania started in the first quarter of 2023. This, along with the strong shipment of its batteries, must have boosted ENPH’s revenues in the soon-to-be-reported quarter.
Region-wise, with the residential solar and storage market growing rapidly in Europe, the region is likely to be a major contributor to Enphase’s second-quarter revenues. Moreover, second-quarter results are likely to reflect solid revenue contributions from the United States.
The Zacks Consensus Estimate for ENPH’s second-quarter revenues is pegged at $726.9 million, suggesting growth of 37.1% from the year-ago quarter.
The company started the shipment of Enphase-branded electric vehicle (EV) chargers from Flex Mexico in the second quarter, which is expected to boost its capacity and reduce costs. This, along with a strong top line across its product portfolio, may have contributed to its overall bottom line in the second quarter of 2023.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.27 per share. This indicates an improvement of 18.7% from the prior-year reported figure.
Enphase Energy, Inc. Price and EPS Surprise
Enphase Energy, Inc. price-eps-surprise | Enphase Energy, Inc. Quote
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Enphase Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: Enphase’s Earnings ESP is +0.88%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enphase Energy currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three solar companies you may also want to consider as these also have the right combination of elements to post an earnings beat this season:
SolarEdge Technologies (SEDG - Free Report) currently has an Earnings ESP of +4.91% and a Zacks Rank #3. The Zacks Consensus Estimate for SolarEdge’s second-quarter sales implies an improvement of 35.9% from the prior-year reported figure.
SEDG delivered an earnings surprise of 46.46% in the last reported quarter. Its second-quarter earnings estimates, pegged at $2.54 per share, imply an improvement of 167.4% from the year-ago quarter’s tally.
Sunrun (RUN - Free Report) currently has an Earnings ESP of +61.42% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter sales is pegged at $621.9 million, suggesting growth of 6.4% from the year-ago quarter’s tally.
Its second-quarter bottom-line estimates, pegged at a loss of 34 cents per share, call for a deterioration from the year-ago quarter’s loss of 6 cents. The estimate has decreased by a penny over the past 60 days.
Array Technologies (ARRY - Free Report) currently has an Earnings ESP of +0.92% and a Zacks Rank #3. The Zacks Consensus Estimate for Array’s second-quarter sales suggests growth of 4.9% from the prior-year reported figure.
Its second-quarter earnings estimates, pegged at 20 cents per share, indicate an improvement of 122.2% from the year-ago quarter’s tally. ARRY has a four-quarter earnings surprise of 229.86%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.